Merkel Agrees to Voluntary Greece Bondholder Role

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June 17, 2011 - 8:51am

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Merkel Agrees to Voluntary Greece Bondholder Role

When Merkel says "voluntary" I suspect she means it in the same way Obama got the GM creditors to "volunteer". The problem remains, Greece spends more than it takes in.

“We would like to have a participation of private creditors on a voluntary basis,” Merkel told reporters in Berlin today at a joint press conference with French President Nicolas Sarkozy.

http://www.bloomberg.com/news/2011-06-17/merkel-says-she-s-prepared-to-work-with-ecb-on-investor-role-in-greece.html

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Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.

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