- Target:
- Greek Prime Minister George Papandreou and International Monetary Fund leader Christine Lagarde
- Region:
- GLOBAL
Greece... default now!
The European Monetary Union (EMU) and its institutions need to face reality!
Greece is an epidemic of lying, stealing and cheating where every man is for himself. Into this mess German and French banks (and others) have staked tens of billions of euro.
‘Bail outs’ from Brussels that continue to saddle new debt on the Greek people highlight the EMU to be confused ideologically and constrained to the interests of its leading members – Germany and France.
In nominal terms at 300 billion euro a Greek default will be the biggest sovereign default in history and the kicker is the real threat of financial contagion.
Europe must bite the bullet and act now and consider a ‘debt restructure’ or face grappling with an unending disaster.
The model for default is Uruguay in 2003. Under the direction of the IMF parties met in a civilized manner and debt maturities were stretched and creditors accepted haircuts.
German, French and other European banks will face significantly more pain but it will be at last the beginning of the end!
Andrew Brown
www.mcinvestmentfund.com
We, the undersigned, call on the Prime Minister of Greece George Papandreou to meet with the leader of the International Monetary Fund Christine Lagarde and set a timeframe for the restructure of Greek debt.... now!
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The Help Greece Default with Dignity petition to Greek Prime Minister George Papandreou and International Monetary Fund leader Christine Lagarde was written by Andrew and is in the category Politics at GoPetition.