The great propaganda spin machine is now on, and its only purpose is to provide Germany a buffer of “having done everything in its power” to prevent the now inevitable Greek default.

At least Hank Paulson was kind enough to let congress and the population know when he came up with his three-page blank check term sheet to bailout his former employer. In Europe, Greece apparently was not even worthy the cost of a fax with the German one-pager before it was leaked to the press.

4 comments on “The great propaganda spin machine is now on, and its only purpose is to provide Germany a buffer of “having done everything in its power” to prevent the now inevitable Greek default.
  1. david says:

    If you have a AAA+ euro loan for 145bn why not use a bit of leverage on it and you could lend 300bn to the Greeks then sell the risk on tripple A rated lav paper to the nearest govenment doing large quantative easing’s everywhere . I demand my 0.05% of turnover bonus ! (denominated in gold or farmland only thanks) for coming up with this scheme ..

  2. chomtronic says:

    what’s an extra €15 bn between friends?

  3. giggler says:

    Everything they could do…. except hand over their gold as collateral.

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