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Germany Never Intended For Greece To Stay In The Euro

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Michael Snyder is the publisher of , The American Dream Blog and The Truth

There never was going to be any deal.  All along, Germany has been seeking to establish conditions that would never be met so that they could force Greece out of the eurozone.  But the Germans had to do this subtly so that they would end up looking “reasonable” and would not turn the rest of the eurozone against them.  So why does Germany want to get rid of Greece?  Well, to be honest, it is because the Germans are sick and tired of paying for Greek mistakes.  In Germany, there is an obsession with having a balanced budget.  They even have a term for it – “the black zero“.  So it absolutely infuriates the Germans that the Greeks can never seem to get their act together and that German citizens have to keep paying for it.  At this point, the amount of money that Germany has already poured into Greece breaks down to more than 700 euros per citizen, and now Greece is going to need a new bailout of somewhere between 82 billion and 86 billion euros over the next three years.  Needless to say, the Germans are fed up with pouring money down a financial black hole, and they know that if they keep bailing Greece out that it is only a matter of time before they will have to bail out Italy, Spain, Portugal, France, etc.

So, no, it hasn’t been the Greeks holding up a deal all this time.

It has been the Germans.

And now that we have reached the endgame, the Germans are pushing for what they have always wanted from the very beginning

The Germans are sick and tired of having the Greeks be so financially dependent on them.  So the Germans would really like to cut them off and have them go fend for themselves.

So that is why the EU laid out such draconian conditions for the Greeks over the weekend.  The following is how Zero Hedge summarized where things currently stand…

Greece has been given until Wednesday to pass all of the legislation necessary to implement all of those conditions.

And if Greece does somehow get all that done, it still won’t get them a deal.  All it will do is allow them to come back and restart negotiations.

Needless to say, the Greeks are steaming mad at this point.  This new “deal” is being called “very bad” and “insulting” by Greek politicians.

But what they may not understand is that Germany does not actually want any deal to happen.  Instead, they are working very, very hard to get the Greeks booted out of the euro.  The following comes from the Washington Post

If anyone still doubts what the Germans are trying to do, here it is in black and white…

And this is not an idea that is new.  In fact, some hardliners in Germany have been pushing for a “temporary Greek exit” since at least 2012

The Germans absolutely hate having to open up their wallets for someone else’s mess.  And they know that if they endlessly bail out Greece that it won’t end there.  Eventually, much of the rest of the continent will come to them for bailouts too.  I think that Nigel Farage nailed it when he summed up what Germany is thinking this way…

But I believe that Germany is greatly, greatly underestimating the damage that a “Grexit” is going to do to Greece and to the rest of the members of the EU.

In Greece, the banking system is already on the verge of total collapse.  We are being told that capital controls will remain in place “for at least six months”, and now Greek politicians are even talking about “a possible forced ‘bail-in’ of depositors”

Hmmm – I seem to recall someone warning about this exact scenario nearly two months ago: “Are They About To Confiscate Money From Bank Accounts In Greece Just Like They Did In Cyprus?

The economic depression in Greece is about to accelerate.  But things are also going to get hairy for the rest of the continent as well.  As I have warned about so many times, the euro is going to plunge like a rock, European stocks are going to crater, European bond yields are going to soar, and eventually we are actually going to see “too big to fail” banks all over Europe start to fail.

This is the big flaw in the German plan.  They truly believe that they can remove the “cancer” of Greece without causing any lasting damage to the rest of the eurozone.

Sadly, they are dead wrong.

The post Germany Never Intended For Greece To Stay In The Euro appeared first on The Economic Collapse.

Read More: The Economic Collapse Blog Reprinted & Distributed With Permission


Source: http://theeconomiccollapseblog.com/archives/germany-never-intended-for-greece-to-stay-in-the-euro


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