Germany, France, Netherlands to buy Greek bonds: MEP

Started by CrackSmokeRepublican, February 27, 2010, 09:14:45 PM

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CrackSmokeRepublican

Germany, France, Netherlands to buy Greek bonds: MEP  :shock:

ATHENS (Reuters) - Germany, France and the Netherlands plan to buy Greek bonds to help Athens cope with a severe debt crisis, a German member of the European Parliament told Greek television on Saturday.

"The plan is that Germany, France and the Netherlands will buy Greek bonds," Jorgo Chatzimarkakis told Mega TV in an interview aired on Saturday evening.

It was unclear how Chatzimarkakis, who is not a high-profile politician in Germany, knew of the plan.

Earlier, a Greek newspaper reported that Germany and France planned to help Greece with its debt problems by purchasing bonds or providing guarantees via state banks, but a German official denied that report.

Chatzimarkakis is a member of the pro-business Free Democrats, which are part of the ruling coalition in Germany and have taken a hard line against helping Greece.

"Germany is planning to buy immediately 5-7 billion euros (of bonds)," he said, adding that Germany's state-owned development bank KfW and France's state-owned bank Caisse des Depots were part of the deal and would buy Greek bonds.

The report in Greek newspaper Ta Nea, which cited unnamed banking and official sources, also said the two banks would play a role in the aid plan.

(Reporting by Lefteris Papadimas; Writing by Ingrid Melander; Editing by Noah Barkin)

http://www.reuters.com/article/idUSTRE6 ... ss+News%29
After the Revolution of 1905, the Czar had prudently prepared for further outbreaks by transferring some $400 million in cash to the New York banks, Chase, National City, Guaranty Trust, J.P.Morgan Co., and Hanover Trust. In 1914, these same banks bought the controlling number of shares in the newly organized Federal Reserve Bank of New York, paying for the stock with the Czar\'s sequestered funds. In November 1917,  Red Guards drove a truck to the Imperial Bank and removed the Romanoff gold and jewels. The gold was later shipped directly to Kuhn, Loeb Co. in New York.-- Curse of Canaan