With just a day left before a key vote in the German Bundestag on ratifying the 4-month Greek bailout extension, the biggest-selling, mass-market newspaper of the EU's most powerful economy, with a circulation of 2.5 million, Bild, has let the Ruling Bureaucrats of Brussels feels about the latest financial acrobatics aimed at preventing poo old Greece from escaping the slavery imposed on it by membership of the Euro.
The one - word banner headline hardly needs translation but just to be sure the Euro Rat Bureaucrats get the message, the sub heading printed below "Nein", translates as "No more billions for greedy Greeks."
As part of a campaign to persuade the budestag to thake the first step towards a trial separation from the perpetually penniless Club Mediterranean nations, Bild is encouraging its readers to take selfies holding the page up and send them in for publication. Selfies of readers brandishing the “Nein!” had already begun flooding in on Thursday morning, with many holding it up in their offices or outside their homes.
Lars Riiser, a banker, stuck it to the window of his office on the upper floors of one of Frankrfurt’s skyscrapers, with a view of Germany’s financial capital behind. Some readers took the selfie holding up iPads showing the headline instead of a newspaper.
As noted above, the publicity stunt comes ahead of a vote that will seek to pass the proposed Greek reforms. Earlier today, it was reported that at least 22 MPs in Merkel's Christian Democrat party are unhappy with the deal, and indicated that they intend to defy the party whip and vote against it. There is no chance of the deal being defeated, because Mrs Merkel’s coalition has a huge majority, but so many defection from her own party would be a symbolic blow and would give a higher profile to anti - Euro party AFD."
The endless Greek bailouts have become a very sensitive one for Germany, with public opinion polarized whether Greece should be the receipient of what Germany sees as endless taxpayer funding, at least one entity has so far voiced support for Merkel and the dream of a single European nation. The German Association of Journalists called on the "Boulevard media" to stop the 'campaigneering', arguing that Bild has crossed the line into political campaign by urging readers to pose with their “Nein” poster ahead of tomorrow’s Bundestag vote. The DJV added (in a translation published in The Guardian,) that "it is ethically questionable to vilify a whole nation for the fiscal mistakes of their politicians."
Will it make a difference? For now the Bild campaign seems to be achieving its intended goal in the process once again making a mockery of the European "Union"
Updated 26 Feb
Greece Suffers Biggest Bank Run In History: January Deposits Plunge To 2005 Levels
As Germany's Bundestag voted to ratify the extension to the Greek bailout, one of the biggest question marks surrounding the Greek negotiation and ultimately, bailout extension, was just how panicked was the Greek population and domestic corporations. Recall that as explained previously, the tension boiled down to this: the Troika did everything in its power to accelerate the bank run in order to crush any negotiating leverage Varoufakis may have; Greece on the other hand was desperate to make its cash drain appear far better than rumored.
Moments ago the Bank of Greece presented its latest, January, deposit data. And it's a doozy: following a record €12.2 billion monthly outflow, greater in absolute and relative terms than anything experienced during any of the previous Greek crises and bailouts, the total amount of Greek corporate and household deposits has now tumbled to just €148 billion, down 7.7% from the month before, and down 10% since November. This number is in line with some of the more pessimistic expectations, and brings the total cash holdings at Greek banks to the lowest level since August 2005.
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