European banks to seize Greek gold reserves

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#1 Mon, Feb 27, 2012 - 12:11pm
Joined: Jun 14, 2011

European banks to seize Greek gold reserves

Well, this will come as a surprise to nobody in Turdville, but the European bankers have announced plans to loot the Greek treasury of its gold reserves.

Says the New York Times:

"Ms. Katseli, an economist.. was also upset that Greece’s lenders will have the right to seize the gold reserves in the Bank of Greece under the terms of the new deal, and that future bonds issued will be governed by English law and in Luxembourg courts, conditions more favorable to creditors.

"While their country’s fate is being decided in abstract, high-level negotiations in Brussels, Berlin and Paris as much as in Athens, many Greeks said they had begun to feel that the debt writedown and new loan is aimed at saving the banks more than the country and its citizens."

I would say the conclusion of the second paragraph falls squarely in the "No shit, Sherlock" category of news analysis.

RIP to the cradle of Western Civilization.

NYT article here:

Edited by: Paladex on Nov 8, 2014 - 5:02am