Monday, July 9, 2018

The 300 Million Euro Story

It came up today as a page-two story, which most Germans won't read or comprehend.

N-TV (the commercial news network) gave a fairly comprehensive reference to the episode.

If you paid attention to the EU in the last week, they voted a deal to allow a loan (unknown amount) to keep their banks afloat. 

It came out today that Iran wants a German bank (the European-Iranian State Commercial Bank at the Bundesbank), to fly out in cash to Iran.....300 million Euro.

Getting the attention of the US and Israel?  Yes.

Why this quick delivery?  Iran simply says it needs "to pass on to Iranian people who, for lack of access to recognized credit cards, rely on euro cash for overseas travel."

Some suggest that the money could be quickly turned around and sent to Syria to fund operations there.  You can't state that as factual information though.

The problem I see with the story is that just as quickly as the money arrives in Iran, if this was legit....everyone would rush in and convert their money to Euro, and hustle it into Dubai for safe-keeping.  So the money really isn't going to help much of anyone except to speed up the process of bank failure....particularly when Iran says they can't pay the money back. 

Will Germany prepare 300 million Euro for shipment?  I just can't make any suggestion on this.  To make Iran happy.....they might.  The fact that it'll get brought up in public by Trump, and he might explain this in detail to German voters why it's stupid?  Well...yeah, that might happen.

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