{"id":4171,"date":"2015-01-07T06:33:41","date_gmt":"2015-01-07T11:33:41","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4171"},"modified":"2015-01-07T06:38:06","modified_gmt":"2015-01-07T11:38:06","slug":"bild-warns-german-govt-fears-greek-bank-runs-financial-system-collapse-prepares-for-grexit","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4171","title":{"rendered":"Bild Warns German Govt Fears Greek Bank Runs, Financial System Collapse; Prepares For Grexit"},"content":{"rendered":"<h4 class=\"title\">\u00a0\u00a0<a href=\"http:\/\/www.zerohedge.com\/news\/2015-01-06\/bild-warns-german-govt-fears-greek-bank-runs-financial-system-collapse-prepares-grex\" target=\"_blank\">Bild Warns German Govt Fears Greek Bank Runs, Financial System Collapse; Prepares For Grexit<\/a><\/h4>\n<p>It has been a busy few days for Germany. In the space of a week,\u00a0<a href=\"http:\/\/www.zerohedge.com\/news\/2015-01-03\/gloves-come-germany-says-grexit-manageable-tsipras-demands-greek-debt-writeoff\">they have\u00a0<strong>warned Greece &#8220;there will be no blackmail,&#8221;<\/strong>adding that a Greek exit from the euro was &#8220;manageable,&#8221;<\/a>\u00a0only to hours later<strong>\u00a0deny (clarify) these comments<\/strong>. This was then followed up with beggars-are-choosers Syriza demanding any ECB QE must buy Greek bonds (or else) &#8211;\u00a0<a href=\"http:\/\/www.zerohedge.com\/news\/2014-10-01\/germany-throws-over-draghi-plan-buy-greek-junk\">which Germany has flatly ruled out<\/a>\u00a0&#8211; only to see today that\u00a0<a href=\"http:\/\/www.zerohedge.com\/news\/2015-01-06\/greek-bonds-tumble-reports-sees-decisive-victory-syriza\"><strong>Syriza is practically guaranteed to win a &#8220;decisive victory&#8221;<\/strong>\u00a0at the forthcoming snap election<\/a>. So it with a wry smile that we note Bild reports tonight that the\u00a0<strong>German government is preparing for a possible Greek exit, warning of financial system collapse, bank runs, and huge costs for the rest of the EU<\/strong>.<\/p>\n<p><strong>Germany has been flip-flopping<\/strong>\u00a0<a href=\"http:\/\/uk.reuters.com\/article\/2015\/01\/07\/uk-eurozone-greece-germany-idUKKBN0KF27G20150107\"><em>(as Reuters notes).<\/em><\/a>..<\/p>\n<p>Der Spiegel magazine reported on<strong>\u00a0Saturday that Berlin considers a Greek exit almost unavoidable if Syriza wins,<br \/>\n<\/strong><strong>\u00a0 \u00a0 \u00a0but believes the euro zone would be able to cope.<\/strong><\/p>\n<p>Vice Chancellor Sigmar Gabriel said on\u00a0<strong>Sunday that Germany wants Greece to stay and there are no contingency<br \/>\nplans to the contrary<\/strong>, while noting the euro zone has become far more stable in recent years.<\/p>\n<p>As the euro zone&#8217;s paymaster,\u00a0<strong>Germany is insisting that Greece stick to austerity and not backtrack on its bailout<br \/>\ncommitments<\/strong>, especially as it does not want to open the door for other struggling members to relax reform efforts.<\/p>\n<p><strong>But now the rhetoric is heating up<\/strong>&#8230;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0\u00a0Bild Warns German Govt Fears Greek Bank Runs, Financial System Collapse; Prepares For Grexit It has been a busy few days for Germany. In the space of a week,\u00a0they have\u00a0warned Greece &#8220;there will be no blackmail,&#8221;adding that a Greek exit from the euro was &#8220;manageable,&#8221;\u00a0only to hours later\u00a0deny (clarify) these comments. This was then followed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2461,2462,284,916,359,1167],"class_list":["post-4171","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bank-runs","tag-bild","tag-european-union","tag-financial-collapse","tag-germany","tag-greece"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4171","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4171"}],"version-history":[{"count":3,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4171\/revisions"}],"predecessor-version":[{"id":4174,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4171\/revisions\/4174"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}