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Implosion Alert: Europe On The Verge of A Social, Political, Systemic Breakdown And The Last Remaining Hope To Save Europe Is Slipping Away.

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Watch live streaming video from spanishrevolutionsol at livestream.com

They are going to demonstrate in front of the House of Representatives. People is fed up with politicians’ corruption and private debt. Far-right and far-left groups are marching along with liberals, libertarians, social-democrats, conservatives, communists, anarchists against the political corruption.

A Government’s representative has said that this demonstration is a coup d’etat. Hope everything goes fine.

 

Greece might stop paying salaries by summer

As EU bankers squeeze Greece beyond it’s ability to pay, the social consequences mount.

Unions question the wisdom of austerity as unemployment grows and a contracting economy means less tax revenue.

Greece’s austerity policies could create a crisis of insolvency within the country, undermining the very reason they were implemented – to repay the country’s debt – says the country’s biggest labour confederation.

“I am afraid that we may see a phenomenon that could cause a social explosion,” says Savvas Robolis, scientific director for the Labour Institute of the General Confederation of Workers in Greece (GSEE), the private sector’s confederation of unions. “Right now many people can’t pay their taxes. That’s why state revenue fell 300 million euros ($395m) short of January targets. If that continues, I don’t know if the state will be able to meet its obligations by June or July. It may not have the cash to pay salaries and pensions.”

The state heavily subsidises approximately 1.3 million pensions, according to finance ministry data. It also pays the salaries of almost 800,000 state employees, roughly a quarter of all people still working in the country. Failure to pay those pensions and salaries in full would greatly impact on the state’s own tax revenues, and therefore its ability to maintain payments to international creditors.

Greece’s New Homeless: “We Have Not Even Water To Drink”

 

Europe’s Fine… Just Ask Depositors Who Saw Their Savings Go to ZERO

It’s a little known fact about the Spanish crisis is that when the Spanish Government merges troubled banks, it typically swaps out depositors’ savings for shares in the new bank.

So… when the newly formed bank goes bust, “poof” your savings are GONE. Not gone as in some Spanish version of the FDIC will eventually get you your money, but gone as in gone forever (see the above article for proof).

This is why Bankia’s collapse is so significant: in one move, former depositors at seven banks just lost virtually everything.

Read more at http://investmentwatchblog.com/implosion-alert-europe-on-the-verge-of-a-social-political-systemic-breakdown-and-the-last-remaining-hope-to-save-europe-is-slipping-away/#1UZItotIfkkMQZX4.99



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    Total 12 comments
    • Anonymous

      Lesson learned? Never lend government money. Ever, for any reason. Government cannot repay debt because it only consumes, and never produces. It must TAX the same people it borrowed the money from to repay debt, and now the level of taxation is beyond what any economy can support and avalanche of debt is crashing down upon them.

    • Aldinsgirl

      I bet Spain would like to return to the times of the government of José María Aznar!!! Those were the “Good Ole Days!”

    • Jacksdad

      Let Europe fall with the Euro. Maybe then they’ll decide to actually work for a living instead of sponging off America. You want 28 hr work weeks, with 10 weeks vacation then you pay for it, because we’re not footing the bills any longer.

      • arpes

        common sense is a rare commodity these days……

      • Bigrsoul

        Europe will fall, but only because of the toxic debt that has spread from the US. How ironic it is to see you wish for your own downfall, for this is what will happen when the euro collapses. The US has spread its poisoned fiat currancy round the world and it is all coming back home to roost. Enjoy , and be careful what you wish for.

        • Jacksdad

          Nonsense! The toxic debt is from America supporting Europe through the FED Reserve for the last 40 years. Instead of becoming prosperous and self sufficient European countries have tried to live off the interest earned off the dollar through the European banking system. Then that scam ran it’s course so they invented the Euro and tried to support themselves off their “fiat” currency and Europe has been dying ever since. Now they’re dragging America into the crapper because Europe produces next to nothing and has been cooking their GDP numbers for 20 years. Instead of actually working for a living and producing an economy. The bulk of QE1, 2 and 3 went to prop up European failure and has nearly killed off the dollar just to prop up a lazy culture and a failed financial ponzi scheme. The sorry state of Eastern Europe is now in full bloom and western Europe tries to screw them out of what little capital they have left. The Balkanization of Eastern Europe by corrupt western Europe banksters and now it’s dragging the world into the crapper. That’s reality in a nutshell!

      • Bigrsoul

        Bollocks , who was selling “aaa” rated mortgages onto the world market knowing that they were toxic just before the real estate bubble crashed, that debt has still got to come back and bite the us as soon as Europe falls, that’s just one example of the corrupt US financial policy.

    • Truth1

      Hoping that doesn’t happen. Muslims hordes in Europe will go nuts and use the chaos to exploit the frustrated and spread their sharia. I hope the nationalists don’t let that happen. The Euro has to go as Nigel Farage has been saying for years now.

      http://www.youtube.com/watch?v=2gm9q8uabTs

    • Anonymous

      Let’s follow the Iranian example! “Iran to Execute 4 Bankers on Fraud Charges”
      see.http://www.thetruthseeker.co.uk/?p=65912

      • Gabe

        I agree. Time to rid the world of every last banker scumbag.

    • barb patton

      This scenario is EXACTLY what thug Jones was talking about and what the latte one and his thugs and minions want for America. Is there no one that will take him out of the equation so that america can grow strong again? God help america

    • BADGER BADGERISM

      they brought it on themselves proven fact multiculturism KILLS NATIONS!

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