Calls Grow for Greek Marshall Plan.

[elleng]

Source: AP/NYT

Lawmakers in the European Parliament, economists and business leaders — including the heads of German heavyweights Deutsche Bank and Allianz — have increased their calls recently for a stimulus package for Greece, similar to the U.S.-funded Marshall Plan that helped create Germany's "Wirtschaftswunder" — or "economic miracle" — after the Second World War.

"It is very important to supplement our macroeconomic efforts with something credible," European Commission President Jose Manuel Barroso said Tuesday, referring to the eurozone's rescue loans. "If we are going to get benefits in the long-term we have to already start mobilizing our resources for more practical purposes so that Greek people become aware that there is hope and that we are not just asking them to make sacrifices."


Read more: http://www.nytimes.com/aponline/2011/06/21/business/AP-EU-Europe-Financial-Crisis.html?hp

[riderinthestorm]

1. The demonstrations are working. The EU big money elites are getting nervous Greece will default

that's how I read this article.

"As angry demonstrations and defecting lawmakers endanger the passage of the vital new reforms in parliament, politicians are increasingly realizing that Greece's people will need some prospect of a better future to make the belt-tightening more bearable."

In other words, as the PTB are trying to cram down the austerity imposed from above, the people are revolting "endangering" the EU (not the NYTimes laughable euphemism "vital new reforms"!)

I believe the German's repaid approximately 1/3 of the Marshall Plan funds. The gorilla in the room is how much Greece would be expected to pay back. I bet it's much more than that and as the article stipulates the "loaned" funds would be under "tight supervision". This sounds perilously like a World Bank or IMF solution....

Keep the heat on in Greece people! Its working!

[alcibiades_mystery]

14. "German's repaid approximately 1/3 of the Marshall Plan funds"

Certainly something to note whenever you hear the Germans complaining about "paying for" the irresponsible economic behavior of "voters in other countries."

How does such behavior stack up against starting a brutal war and destroying most of Europe?

The Germans received the ultimate bail-out,then gamed the whole EU system to place themselves and the French at the center, with little satellite countries all around; and now they run around pretending that they "earned it all" through frugality and whatnot, when they were in fact nothing but the outlet for capital accumulation. What a fucking joke.

[bemildred]

2. Seems like a bad analogy, somehow. nt

[Springer9]

3. Tell you what Europe, we can no longer afford a

U.S. funded Marshall Plan. You've allowed you own nest to be fouled, your on your own for this one.

[elleng]

4. More like WE'VE allowed OUR OWN NEST TO BE FOULED,

and can't afford s*** any more.
The whole world's in the crapper, imo.

[JDPriestly]

10. China and India are doing quite well, thank you! Their economies are improving.

That's where our money went. There and to other underdeveloped countries with large and youthful populations. Industry needs young bodies. We are an aging population.

[jwirr]

8. I didn't see anywhere that EU asked us to fund it. They used the title

as a model for what they want to do. If they expect us to fund it they are truly out or luck because we are in trouble enough already.

[Demeter]

5. No Amount of anything Will Work Until the Zombie Banks of Europe Go Down into the Graves

that they dug for themselves.

THEN you MIGHT see a real, functioning economy develop.

And the same applies here in the US.

[PoliticAverse]

6. Translation "banks getting worried, looking to reframe their bailout". n/t

[jwirr]

7. Good this is what they need not more austerity programs. Modernize

and green the economy.

[FLPanhandle]

9. Title should read bankers and industry executives call on EU taxpayers to bail them out.

They want a "Marshall Plan" for the banking executives.

[Johnny Harpo]

11. As Long As EUROPE Pays For It....

it seems any time something the U.S. did is mentioned.

Someone wants the U.S. (thats us) to pay for it.

I know Greece needs some serious help but that's Europes problem to solve.

They need to throw their ass-hat bankers in jail just like we do.

[Matilda]

12. How many U.S. bankers have gone to jail?

n/t

[robcon]

13. Money down a rathole. The Greeks have shown no willingness to live within their means.

It would only encourage other EU nations, like Ireland and Portugal, to threaten default, too.

Lending more money to a country who have shown no inclination to pay their debts is a bad proposal, IMO.

[xchrom]

15. Interesting. Nt