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Title: Germany believes euro zone could cope with Greece exit: report
Source: Reuters
URL Source: http://www.reuters.com/article/2015 ... -germany-idUSKBN0KC0HZ20150103
Published: Jan 4, 2015
Author: Erik Kirschbaum
Post Date: 2015-01-04 11:27:07 by nativist nationalist
Keywords: None
Views: 5751
Comments: 16

The German government believes that the euro zone would now be able to cope with a Greece exit if that proved to be necessary, Der Spiegel news magazine reported on Saturday, citing unnamed government sources.

Both Chancellor Angela Merkel and Finance Minister Wolfgang Schaeuble believe the euro zone has implemented enough reforms since the height of the regional crisis in 2012 to make a potential Greece exit manageable, Der Spiegel reported.

"The danger of contagion is limited because Portugal and Ireland are considered rehabilitated," the weekly news magazine quoted one government source saying.

In addition, the European Stability Mechanism (ESM), the euro zone's bailout fund, is an "effective" rescue mechanism and was now available, another source added. Major banks would be protected by the banking union.

The German government in Berlin could not be reached for comment.

It is still unclear how a euro zone member country could leave the euro and still remain in the European Union, but Der Spiegel quoted a "high-ranking currency expert" as saying that "resourceful lawyers" would be able to clarify.

According to the report, the German government considers a Greece exit almost unavoidable if the leftwing Syriza opposition party led by Alexis Tsipras wins an election set for Jan. 25.

The Greek election was called after lawmakers failed to elect a president last month. It pits Prime Minister Antonis Samaras' conservative New Democracy party, which imposed unpopular budget cuts under Greece's bailout deal, against Tsipras' Syriza, who want to cancel austerity measures and a chunk of Greek debt.

Opinion polls show Syriza is holding a lead over New Democracy, although its margin has narrowed to about three percentage points in the run-up to the vote.

German Finance Minister Schaeuble has already warned Greece against straying from a path of economic reform, saying any new government would be held to the pledges made by the current Samaras government.

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Begin Trace Mode for Comment # 8.

#1. To: nativist nationalist (#0)

The Greeks should elect Tsipras, and he should be bold and cancel the entirety of Greek debt, government and personal.

Proclaim a Jubilee and wipe out the debt utterly.

Then establish new rules for debt and credit going forward, with debt annullment every seven years.

If people and the government were completely unburdened with debt, it is true that some services and business (that run by lending money) would be lost.

But the bones of the society would knit pretty well, and under a new regime of 6-year debt only, things would rapidly adjust to it. It would not be a "Western" model, to be sure, but the Greeks who were willing to work (planting and harvesting their own gardens, and settling hinterlands and islands) would end up being far better off for it: happier, freer.

Germany wouldn't like it, but who are the Germans to rule Greece?

Vicomte13  posted on  2015-01-04   12:25:22 ET  Reply   Untrace   Trace   Private Reply  


#8. To: Vicomte13 (#1)

I read it as the Jubilee is every 50 years. That would be debt eliminated every 50 years not 7.

"And thou shalt number seven sabbaths of years unto thee, seven times seven years; and the space of the seven sabbaths of years shall be unto thee forty and nine years. Then shalt thou cause the trumpet of the jubile to sound on the tenth day of the seventh month, in the day of atonement shall ye make the trumpet sound throughout all your land. And ye shall hallow the fiftieth year, and proclaim liberty throughout all the land unto all the inhabitants thereof: it shall be a jubile unto you; and ye shall return every man unto his possession, and ye shall return every man unto his family. A jubile shall that fiftieth year be unto you: ye shall not sow, neither reap that which groweth of itself in it, nor gather the grapes in it of thy vine undressed. For it is the jubile; it shall be holy unto you: ye shall eat the increase thereof out of the field. In the year of this jubile ye shall return every man unto his possession."

A K A Stone  posted on  2015-01-05   14:03:24 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 8.

#9. To: A K A Stone (#8)

read it as the Jubilee is every 50 years. That would be debt eliminated every 50 years not 7.

Yes, there is the 50 year Jubilee, but there is also the 7th year Sabbatical, when debts are relaxed and the land lies fallow and servants are released.

The 50th year Jubilee follows the 49th year Sabbath, so there are two consecutive years in which the Israelites were not to sow or reap (conduct a harvest, to store and sell), but only to eat whatever grows directly out of the field.

A full year or two without a planting does a few things: it requires relying entirely on God (which is part of the point).

But I'll have to take this back up in detail after work.

Vicomte13  posted on  2015-01-05 16:22:32 ET  Reply   Untrace   Trace   Private Reply  


#10. To: A K A Stone, redleghunter, Too Conservative, listener (#8) (Edited)

Ok, it's after work, and now I'm sitting here with an absolutely daunting task in front of me: trying to distill down the government of God.

We started with the Sabbatical and the Jubilee, but I realize already that that won't work. It won't work because it's an arbitrary place to begin, and deeply embedded in the Law for Israel, and after having spelled it all out, one can always turn away and say: "Well, that was the Law, for Israel, but the Law was nailed to the Cross, so it's irrelevant anyway. Now we're in the age of grace."

And that's true too, to a significant extent (though not completely): the constitution of Israel, as laid out in the Torah, really isn't imposed directly on us Gentiles in our Gentile states. Understanding how it applies to us after all, indirectly, as a source of wisdom, takes a light touch and some thought.

To prime that thought and get to that proper perspective, I think we have to start somewhere else in God's law and move forward.

Ultimately, God's law is a seamless garment. It all hangs together as a whole. Cut any one piece out of it, and you end up having the whole thing unravel.

When God made the laws for Israel, it was the one and only time that God ever set up a nation state, and Israel was the only state that he ruled directly, as King, for centuries, before the Israelites foolishly decided to reject him as King and clamor for a human king. God gave them Saul, who was a disaster. Then he gave them David, who was beloved of God but who fell into sin and inflicted disaster on his kingdom. He was succeeded by Solomon, the wisest man ever...who fell utterly into lust and, through lust, idolatry, and who wrecked the finances and strained the goodwill of his subjects such that practically as soon as his son Rehoboam took the throne, the Kingdom of Israel fell apart into the separate kingdoms of Judah and Israel, never to be reunited again until both were destroyed by Mespotamians.

God let Israel be destroyed because they didn't obey his law. He let Judah be rebuilt, by repentant exiles, but within a few centuries he destroyed it again this time for good, when its corrupt priests and government leaders saw to it that His own Son was slaughtered.

After the scourge of the Holocaust in World War II, God has allowed the Jews to reassemble in the land of Israel today, and reconstitute a Jewish republic, but it is very secular and does not obey his laws even still, other than in a few forms. There is no priesthood and no sacrifices, so it's really a simulacrum that goes by the name "Israel", but is not a reconstitution of God's original state at all.

Christian Zionism is pretty popular in America, but a more sober look at what the state of Israel is, as compared to what the state of Israel mandated by God is supposed to be, will cause one to realize that even if the modern state of Israel is a divine miracle, a reconstitution of the homeland of the Jews in recognition of the ancient covenant with Abraham, Isaac, Jacob and the Hebrews of the Exodus, that the incredible distance between the laws and customs of modern Israel, and the laws and customs prescribed for Israel by God, are so wide that without wholesale repentance in ashes and sackcloth, and change, that modern-day Israel cannot look forward to anything but destruction, once again, at the hands of God for having failed utterly, once again, to fulfill his commandments, ordinances, statutes, decrees and judgments.

Nor is there any solace in looking at the Arab countries all around Israel and saying "They're so much worse!" That's true, they are. But then, the ancient Assyrians and Babylonians and Romans were very much worse than the ancient Israelites and Judahites, and worse than the modern Muslim Arabs too (a third of the population of the Arab world are not slaves, and the Muslims do not feed whole families to the lions in arenas packed with screaming crowds, illuminated by human torches). That these other nations were very much worse than the Jews on a relative scale did not stop God from using those very nations to destroy Israel anyway. Why? Because God's standards have never been relative, but have always been absolute. Israel was his chosen nation, his "boy" in the world. The pagan nations all got theirs for what they did, but so did Israel. Israel was not spared devastation, even though its crimes were RELATIVELY light. Once one is chosen by God, there is no "relative": you obey everything and do what he says, or he crushes you with punishment. God is holy, and that which would approach the throne of God (willingly or no) must be holy or it will be beaten by him. That's the way it is.

Anyway, God's law is a seamless garment, with everything depending on everything else, but starting somewhere in the middle of the fabric will lead only to confusion, not enlightenment. To really understand it, it is best to discuss it in the order that God revealed it. That way the overlay of each successive revelation can be seen, and seen from the vantage point that God revealed it, which itself is significant. After all, God is omniscient and always knew what he was doing, so if HE decided to reveal some things first, then those first things are best looked at first, and in order.

So that's what we'll do.

This has already gone long, so I'll start the analysis back in Genesis, in the next essay.

Vicomte13  posted on  2015-01-05 20:21:04 ET  Reply   Untrace   Trace   Private Reply  


End Trace Mode for Comment # 8.

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