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Gingersnap
06-08-2011, 12:42 PM
Obama Presses Europe, Pledges Help for Greek Crisis
Published: Wednesday, 8 Jun 2011 | 2:05 AM ET

By: Reuters

President Barack Obama on Tuesday urged European countries and bondholders to prevent a "disastrous" default by Greece and pledged U.S. support to help tackle the country's debt crisis.

http://i51.tinypic.com/2metkbl.jpg
Getty Images
President Barack Obama

Obama, whose political prospects have suffered from persistently high unemployment and ballooning U.S. debt, has pinpointed the euro zone crisis as one foreign "headwind" hitting the U.S. economy.

After a meeting with German Chancellor Angela Merkel, he stressed the importance of German "leadership" on the issue - a hint that he expects Berlin to help - while expressing sympathy for the political difficulties European Union countries face in helping a struggling member state.

"I'm confident that Germany's leadership, along with other key actors in Europe, will help us arrive at a path for Greece to return to growth, for this debt to become more manageable," Obama said.

"But it's going to require some patience and some time. And we have pledged to cooperate fully in working through these issues, both on a bilateral basis but also through international and financial institutions like the IMF."

CNBC (http://www.cnbc.com/id/43321461)

megimoo
06-08-2011, 12:47 PM
Obama Presses Europe, Pledges Help for Greek Crisis
Published: Wednesday, 8 Jun 2011 | 2:05 AM ET

By: Reuters

President Barack Obama on Tuesday urged European countries and bondholders to prevent a "disastrous" default by Greece and pledged U.S. support to help tackle the country's debt crisis.

http://i51.tinypic.com/2metkbl.jpg
Getty Images
President Barack Obama

Obama, whose political prospects have suffered from persistently high unemployment and ballooning U.S. debt, has pinpointed the euro zone crisis as one foreign "headwind" hitting the U.S. economy.

After a meeting with German Chancellor Angela Merkel, he stressed the importance of German "leadership" on the issue - a hint that he expects Berlin to help - while expressing sympathy for the political difficulties European Union countries face in helping a struggling member state.

"I'm confident that Germany's leadership, along with other key actors in Europe, will help us arrive at a path for Greece to return to growth, for this debt to become more manageable," Obama said.

"But it's going to require some patience and some time. And we have pledged to cooperate fully in working through these issues, both on a bilateral basis but also through international and financial institutions like the IMF."

CNBC (http://www.cnbc.com/id/43321461)
We are up to our ears in debt because of his and his party's incompetance and now he wants to give more of our money away . This critter needs to be totally rejected and defeated come next election !

jediab
06-08-2011, 01:16 PM
This POS doesn't want Greek to go under because that would be a shining example of what liberal economic policies will do to a country.

fettpett
06-08-2011, 02:06 PM
give money to Foreign Banks, Brazil, and now Greece....the GOP in the House needs to cut off all spending and do it now till a budget is put in place.

Arroyo_Doble
06-08-2011, 02:17 PM
give money to Foreign Banks, Brazil, and now Greece....the GOP in the House needs to cut off all spending and do it now till a budget is put in place.

I wouldn't worry too much. Obama didn't say a damn thing. It was all daffodils-and-lollipops meaning nothing.

Odysseus
06-08-2011, 02:21 PM
Greece's collapse would start the Euro-zone dominos going. Ireland, Portugal and Spain are in the same boat, and if they all fall, then so goes the Euro. This would actually strengthen the dollar as a reserve currency, but it would be serious hardship for Europe.

So, the question is, whose interests should Obama put first, ours or Europe's?

And whose will he put first?

The answer to the second question is obvious, since he's never put American interests ahead of anything, including his golf game, but the answer to the first warrants some debate, as in, what are the implications for the US if the Euro collapses, and do they warrant increasing our own debt in order to pay someone else's?

I believe that the collapse of the Euro would be catastrophic, for Europe, but that the wholesale dump of the Euro would strengthen the dollar and buy us time to get our own financial house in order. It will also lead to stratospheric rises in prices of precious metals and other commodities, and civil unrest on the continent. The rise in precious metals could trigger inflation here, and offset the strengthening of the dollar against other currencies, so it might be a wash. The civil unrest could destabilize countries that have extensive security ties to the US, including most of NATO. The odds on our codes and weapons falling into the wrong hands remains remote, however, but it would be a good idea to increase our THREATCON levels at our high value target areas. Utlimately, the benefits of intervention are nebulous, but the downside, the increased debt and the fact that this bailout, like the others before it, are only temporary stopgaps in Greece's decline, are not. We should not do anything that further exposes the dollar or threatens the US economy for Greece.

Molon Labe
06-08-2011, 05:20 PM
When will American President's start taking care of our own problems here at home?

Odysseus
06-08-2011, 06:57 PM
I wouldn't worry too much. Obama didn't say a damn thing. It was all daffodils-and-lollipops meaning nothing.
Like everything else he says.

When will American President's start taking care of our own problems here at home?
When we have a new one.

Rockntractor
06-08-2011, 07:27 PM
Like everything else he says.

When we have a new one.

Oh, you mean one more new problem, I'll think of something!:confused:

KhrushchevsShoe
06-09-2011, 12:01 AM
I thought a popular CU meme was that we should support our allies.

Rockntractor
06-09-2011, 12:04 AM
I thought a popular CU meme was that we should support our allies.

Not pay their bills.

KhrushchevsShoe
06-09-2011, 12:07 AM
How else are we supposed to support them?

Rockntractor
06-09-2011, 12:14 AM
How else are we supposed to support them?

We support allies militarily, we can't be expected to pay their debts, I'm sure if they were starving we would send them food.

Calypso Jones
06-09-2011, 07:21 AM
Regardless you can't send them $ that we don't have. Not only the above recipeients but our Enemies as well. He Wants to send money to Libya Rebels as WELL?? And support the growth of Arab states? W.T.H. This president has sided with enemies to this country at every crisis. Wrong side in Honduras, wrong side in Iran. Is there any doubt that these so called rebels are nothing more than Muslim Brotherhood led?

Bailey
06-09-2011, 08:59 AM
I thought a popular CU meme was that we should support our allies.

What makes you think Greece is our ally?

Arroyo_Doble
06-09-2011, 09:05 AM
What makes you think Greece is our ally?

This (http://www.nato.int/cps/en/natolive/official_texts_17120.htm)

AmPat
06-09-2011, 09:49 AM
I wouldn't worry too much. Obama didn't say a damn thing. It was all daffodils-and-lollipops meaning nothing.

IOW: SNAFU.:cool:

AmPat
06-09-2011, 09:50 AM
I thought a popular CU meme was that we should support our allies.

Support and handout are not synonyms. What other "memes" do you want me to stick down your throat?:rolleyes:

Have you ever had a poor person "help you out?"

Odysseus
06-09-2011, 10:53 AM
I thought a popular CU meme was that we should support our allies.
We are supporting them. If they get invaded, we will mobilize everything that we have to assist. We also train their personnel, assist them with weapon systems (purchasing, maintainance, fielding and expertise). What we don't do is pay off their bills when they overspend on stuff that has nothing to do with our alliance.

How else are we supposed to support them?

See above.

KhrushchevsShoe
06-09-2011, 02:28 PM
It costs a hell of a lot more money to go to war than make an attempt at keeping a relatively small country from starting a chain reaction that could bring down the Eurozone.

KhrushchevsShoe
06-09-2011, 02:28 PM
What makes you think Greece is our ally?

You are literally too stupid to function. Too bad Arroyo beat me to it.

Zathras
06-09-2011, 03:07 PM
You are literally too stupid to function. Too bad Arroyo beat me to it.

Then how do you do it? Function that is.

Bailey
06-09-2011, 04:02 PM
You are literally too stupid to function. Too bad Arroyo beat me to it.

Ya France is in Nato too douche bag haha ya they act like our ally all the time. There is a difference between being a friend and being an ally, look it up.


"

Bailey
06-09-2011, 04:05 PM
Then how do you do it? Function that is.

Every post you do has a level of stupidity that astounds me (KS that is) but you keep on breathing.

Odysseus
06-09-2011, 04:37 PM
It costs a hell of a lot more money to go to war than make an attempt at keeping a relatively small country from starting a chain reaction that could bring down the Eurozone.
Preventing war through readiness is cheaper than going to war, and helping an ally protect itself is not the same as fighting their wars for them. The equivalent of helping the Greeks defend themselves would be to provide loan guarantees while Greece restructured its debt and government expenditures, but since Greece has refused to restructure, and our credit isn't much better than theirs, there's not a whole lot of point to that. Simply throwing money at the problem will not accomplish anything, since Greece will not change how they do business. Unless they radically change their governing priorities, any money going in will be wasted in the same way that they've wasted what they had until now.


Then how do you do it? Function that is.

He's a socialist. Other people function and he simply lives off of it. He's Greece in microcosm.

Zathras
06-09-2011, 05:16 PM
He's a socialist. Other people function and he simply lives off of it. He's Greece in microcosm.

Ah. a worthless bum living on the fruits of the labor of others.

KhrushchevsShoe
06-09-2011, 05:42 PM
Ya France is in Nato too douche bag haha ya they act like our ally all the time. There is a difference between being a friend and being an ally, look it up.


"

See now there's this place called Libya...

Hawkgirl
06-09-2011, 06:40 PM
So the greeks retire at age 45, and americans will work till they're 75 to pay off their debt.

Liberalism, the root of all evil/insanity.

3rd-try
06-11-2011, 11:41 AM
The equivalent of helping the Greeks defend themselves would be to provide loan guarantees while Greece restructured its debt and government expenditures, but since Greece has refused to restructure, and our credit isn't much better than theirs, there's not a whole lot of point to that. Simply throwing money at the problem will not accomplish anything, since Greece will not change how they do business. Unless they radically change their governing priorities, any money going in will be wasted in the same way that they've wasted what they had until now.

Exactly! And besides, we're already doing the above for many unions and California.

Starbuck
06-11-2011, 12:14 PM
I thought a popular CU meme was that we should support our allies.

Heh, heh.......I support my kid, too. But when he acts irresponsibly I let him take the consequences.

A DUI??!! No problem, Kid. We'll just call my very good friend The Judge and get it taken care of.......SPENT ALL YOUR MONEY AND IN DEBT??!!.........No problem, Kid, I've got lots more.

as opposed to...

(SOMEONE BEAT YOU UP AND TOOK AWAY YOUR LUNCH MONEY??!! Point the bastard out...!:)

Starbuck
06-11-2011, 12:20 PM
It costs a hell of a lot more money to go to war than make an attempt at keeping a relatively small country from starting a chain reaction that could bring down the Eurozone.

Can't get the broken egg back in the shell, but it sure looks to me like this whole Eurodollar thing was a bad idea.:(

And anyway, just think; If we go to war, then we'll have more jobs building all those planes and tanks, and ships, and bombs. Then we'll get to pay American workers (soldiers, sailors, and airmen) to go deliver them.

Or we could support the arts.