As the anglo economic crisis explodes, The heads of the governments of the Christian world are confused

GREETINGS,

  ” As the Book says to the white race: “As Thou hast done, so shall it be done unto thee.” The white man must return to Europe and concentrate on that continent for his future — or else concentrate on his death instead of his life — for they can no longer rule the Black man. “–pg.186(TFOA)

…” The heads of the governments of the Christian world are confused, and they do not know that they are confused. Why? Because their greatest desire was to confuse us. Now Allah (God) has taken the confusion out of us and put it into them.”–pg.156(TFOA)

 

Not Out of The Woods Yet

 

Despite Progress, Euro Crisis Is Far From Over

 

An Analysis by Christian Rickens

 

 

The Greek debt cut worked and the rescue package has gone through. So is the euro crisis over? By no means. The situation in Greece will take a turn for the worse again in a few weeks. The other euro nations will have to use the time until then to get their own houses in order — especially Germany.

 

For a change, everything has been going according to plan in the fight to save the euro in recent weeks. On Wednesday, euro-zone finance ministers gave the green light to the €130 billion ($170 billion) second rescue package for Greece. It’s a pure formality after a satisfyingly large proportion of creditors agreed to a debt cut for Greece. Perhaps the most significant success of recent days is that even though the debt cut was deemed a so-called credit event, triggering the payment of the financial contracts known as credit default swaps, hardly anyone seemed to care.

 

 

 

For more than two years, the international financial lobby had been warning the public and governments that these credit default swaps must under no circumstances be triggered, because that would cause a disaster similar to the meltdown that followed the 2008 collapse of Lehman Brothers. Their message, effectively, was that taxpayers should cover all the losses, rather than private-sector creditors. But the CDS horror scenario has failed to become reality.

 

 

So has Greece been rescued and financial markets been tamed? Is the euro crisis a thing of the past? Unfortunately not. With their successes in the last few days, euro-zone politicians have done little more than bought themselves time. They must use this window to brace themselves for the next wave of the euro crisis which is about to crash down on Europe.

 

It’s already clear that the Greek economy can’t survive with a government debt to GDP ratio that will — at best — still be at 117 percent in 2020, especially given the record pace at which the country’s GDP is contracting. There is still no coherent strategy for making Greece competitive again inside the euro zone, or for raising the capital for the huge investments needed — let alone for the wholesale revamp of the country’s entire public administration.

 

Greek Crisis Will Escalate Again

 

And so Greece is likely to report the next set of disappointing budget figures in a few months, and the wrangling over a new debt cut and a new rescue package will start shortly afterwards. Maybe the next wave of the crisis will hit us even sooner: Greece is scheduled to hold an election on April 22 which is expected to produce a left-wing majority deeply opposed to the strict austerity program imposed by Brussels…….MORE HERE

 

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