Oct. 28th, 2011

noabsolutes: (Default)
So I am reading about what Angela Merkel, the German PM did last night, and I am just in awe. She is my hero, no kidding. I want to be this woman. I want to sit at her feet and learn.

Greece is in financial crisis right now, and Germany (which is not) is going to bear a large part of the expense of bailing them out. They have been trying to get the banks to "agree" to take a loss on some percent of their Greek holdings, and they had agreed to a 21% loss, and then they dug their heels in.

And then the German PM steps in and says, in so many words, "actually, you'll take 50 percent, and you'll do it with a smile, or I won't bail you out. The entire European financial system will come crashing down, like Lehman in the US in '08, and it will be entirely your fault."

And the banks said "yes ma'am" and that was that.

DAMN.

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noabsolutes

December 2012

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