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Tsipras Does Not Rule Out Russian Aid As UK Chancellor Calls Greece "Greatest Risk To Global Economy"
"It is clear that the stand-off between Greece and the eurozone is the greatest risk to the global economy," warns UK Chancellor George Osborne adding that he hopes Greece's new finance minister "acts responsibly," as Varoufakis toured Europe to discuss Greece's 'demands'. Mainstream media's attention, however, is not focused on this warning (remember, Greece is small and contained is the meme to pay attention to), but instead proclaimed Greece's pivot to Russia over when in fact, Tsipras words did anything but 'rule out' Russian aid as he said - specifically - "we are in substantial negotiations with our partners in Europe and those that have lent to us," adding that with regards Russia, "right now, there are no other thoughts on the table." Hardly the definitive "ruling out" that US media spins.
As Reuters reports, Varoufakis also met British officials, seeking more European allies, although Britain is not a member of the euro zone.
"It is clear that the stand-off between Greece and the euro zone is the greatest risk to the global economy," Britain's finance minister, George Osborne, said after their meeting.
"I urge the Greek finance minister to act responsibly but it's also important that the euro zone has a better plan for jobs and growth," Osborne said.
* * *
And this follows France's "support for debt renegotiation" and Germany's dismissal of any changes to the current plan:
It has so far met a tough line from European partners, above all from Germany. German Finance Minister Wolfgang Schaeuble told Reuters in an interview on Monday that Berlin would not accept any unilateral changes to Greece's debt program.
"We want Greece to continue going down this successful path in the interests of Greece and the Greeks but we will not accept one-sided changes to the program," he said at the Reuters Euro Zone Summit.
* * *
But it is the US media spin of the Russian pivot that is notable...
Here is Reuters' headline...
And here is what Tsipras actually said...
"We are in substantial negotiations with our partners in Europe and those that have lent to us. We have obligations towards them," Tsipras said at a news conference in Cyprus during his first foreign visit as prime minister.
"Right now, there are no other thoughts on the table," he said, when asked whether Greece would seek aid from Russia, which has suggested it could be willing to listen to a request for support from Athens.
* * *
Hardly the definitive ruling out of Russian aid that the headline proclaims.
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Translation: Russia never offered to write a cheque
Greece comes back crawling to the EU for MOAR
Germany doesn't give Tsirpas the time of day (for now)
Good luck, Tschirp Tschirp
I would lose serious respect for Mr. T and Mr. V if they didn't approach their EU partners first to find a solution to the current problem.
Plus, why would Russia want to "bail out" Deutsche Bank?
Do you even know what respect is? Piss off, will ya. This is about money. Respect doesn't pay the bills.
EU and the West tells Greece: "Let them eat cake..."
Absolutely. The fuckers are all corrupt and want to live on other people's money. Sure, the bets were made that Greece would pay it back somehow, someday.
Greece has no leverage to be calling anything.
This whole shitshow is the epidemy of RIDICULOUS.
"...he hopes Greece's new finance minister 'acts responsibly'..."
Yes, we can't tolerate any 'uppity' debtors. We want to make sure Greece behaves itself and resumes its role as petty little debt-serf...
TOGA! TOGA! TOGA!
"They're gonna nail us no matter what we do!"
https://www.youtube.com/watch?v=y1Mk7idVfcA
Well, as of this moment, they're on DOUBLE SECRET PROBATION!
"Seven years of [bailouts], wasted!!!"
i think it shows just how fucked up the situation is if a country of some 11 million is judged "greatest risk to the global economy"
what about the impossible debts of japan or usa, surely they are more of a risk by the nature of being many, many times larger.
Whenever one of these men (women, too) gets up and calls anything "the greatest risk to the global economy", the translation is simple. It is the greatest risk to their power and influence. They have bets running on this. They have money running in this. In their mind, if they lose their bets, then this is the economy doing "badly". They cannot conceive of an economy running so that they lose money. They don't care how much other people are losing, so long as their bets make money. A transition to a healthy economy is by definition a risk to their positions, because their positions are what are creating the stagnation in the first place. Bring on the risk! We want more of this stuff!
Let's not forget... the ROOT of all EVIL .. the cause of the GREATEST FINANCIAL COLLAPSE was US SUBPRIME MORTGAGE PAPER rated FUCKING AAA by American rating agencies and bundled and sold to BANKS across the world.
Those banks held shit paper on their books and some collapsed, many nearly collapsed.
Now the Greek shit paper which was another grandiose US BANKING FUCKUP is clogging up the European banks. Central banks stepped in on the backs of taxpayers.
Of course the debt can't be paid off. IT should be written off and we should see a RESET.
A RESET without a fucking US DOLLAR SYSTEM that controls, manipulates and THREATENS to destroy the world 50x over!
And here I thought it was pussy..
Sheeesh..
Proper money (gold) resets the whole show.
Yep, it's the sociopath way. Winning at ALL cost is their only motivation, and collateral damage is nothing to them. In fact, collateral damage IS winning to them. Greece better realize this isn't a game of bluffing as these fuckers don't bluff when it comes to inflicting real pain. Greece better be prepared for real pain, because it's coming no matter what they do. The only question is whether Greece endures the pain now in the hope for a better future, or just endure pain from the sociopaths forever.
Sofapapa, exactly. Who are the debtors to call us on the fact we only gave them debt that could never be paid back to enslave and now they want to throw off the shackles... How inconvenient for the bankers and eurocrats in on the game.. Awake debt slaves are a massive ongoing risk that must probably be met with force at some point..
"Greece has no leverage to be calling anything." Not. They have to do literally nothing and the Ponzi scheme of correlated assets will blow up like a bottle of coke filled with baking soda (try it, nice experiment). That's a tremendous leverage, you cannot have more.
ECB will try and cover it.
Support German banks and German pension plans and welfare state - FIRST
Let Greeks eat Drachmas. They voted for it.
Enough of this shit show
Don't forget that Germany is financially in a position similar to Greece's. With normal interest rates, Germany could hardly bear its debt load.
Merkel is stupid enough to do the banksters job and put her own people in jeopardy. Sometimes I am under the impression that this strange woman is a CIA-fed transatlantic mole with the mission to destroy her own country.
Seems reasonable to assume that Merkel is a CIA asset, isn't it? Killing Germany's very safe and proficient nuclear energy sector and killing all German investments in Russia. Nevermind the good will and the progress both nations had been making in their relations.
You are wrong ! There is a saying in bank circles " You owe 1000 to the banks it's your problem. You owe 1 billion to yhe bank it is a bank problem . There are options for Greece , make the system go down by declaring default or use blackmail to continue the agony , make a call to Moskow or Bejin .......... It is not very pretty ! This caper cannot be ignored !
Tsirpas has no leverage. He defaults his nation, they will go back to Drachmas and end up killing him and his family like the Italians killed Mussolini
Google it
It would seem to me that this here would take away leverage. (1/29)
EU wins Greek backing to extend Russia sanctions, delays decision on new stepshttp://www.reuters.com/article/2015/01/29/us-ukraine-crisis-idUSKBN0L22B...
For the record, I do not agree with sanctions on Russia.
If Russian sanctions end up being the Greek trump card to receive a (hypothetical) debt cut from Germany, I can predict with 100% certainty that WW3 is only months away.
The cabal is pushing for war with Russia. The cabal controls most of German politics direct through association and indirect through Finance.
The only commercial debt cut the cabal ever agrees to is by issuing a war debt.
War debt can only ever be repaid with blood.
It will be very interesting to see what the cabal's move is next. Are they going all in again?
This is funny. Orlov wrote up his weekly article, then deleted it citing the Reuters link.
Open Letter to the New Finance Minister of Greece Yanis Varoufakishttp://cluborlov.blogspot.com/2015/01/open-letter-to-new-finance-ministe...
Not sure why you're getting so many junks but I just counted 18 empty beer cans from yesterday. OOF!
Hard to believe now Tsirpas would have really entertained the notion. He comes across as having played Russia against the EU for money (or concessions). EU pawns seemingly caved and all over a vote on silly sanctions?
Obama comes out backing Tsirpas as well. Sounds like the cabal has gotten what it wanted all along.
Either the worshippers of Lucifer get their way, or it's Nuclear Armageddon.
I just can't fathom the Chinese agreeing to this, so it would drag them in, too, as soon as the first one blows.
OTOH, with Fukushima killing off the Pacific Ocean and North America - slowly but steadily and never to be stopped - maybe the Luciferians are planning global suicide, and they'll all be watching it drinking champagne and fucking kids like Nero did.
If they default, they start from zero. Douche Bank (and many others) will have some huge write-offs to explain (to say nothing about their derivatives portfolio). If you have a problem with giving money to the Greeks, why don't you take it to your own people in charge (Merkel) who started all this ? You don't want to give them any more money, yet you are pissed because they don't want to take any more debt too ! Could you make up your mind, please ? For a German, you sound terribly confused. Bottom line is this: if Germany wants a united Europe under Euro, it will have to pay for it ! If not, you're free to go your own way, and back to the D-mark, because there's nobody else who would pay. The Brits talk a lot but don't want to pay either (and besides they were smart enough to keep their pound...). The French are in free fall, Italians and Spaniards are irrelevant, so the only people with money is YOU, the Germans. You either agree to pay some sort of "equalization money" to the poor countries of Europe, or you break up and let the chips fall where they may. These are the only two realistic options. Get used to it...
You overlook the one problem.
Greek Banks hold Greek deposits of Greek people.
Greek Banks invested in Greek Govt. bonds to provide funding for Greek subsidies to Greek people.
Now, who owes who the most? Bonds become worthles then the deposits become worthless. The communists will not hesitate to burn everyone's house down if they can put the blame on someone else. Just like Obammie, all of the borrowing was because someone refused to properly share the wealth.
There is always Golden Dawn to replace them...
Greek Right Sektor. I'm sure there's no connection. None. Trust me . . .
Perhaps he should contact the Yap Islanders. They use stones for currency and may hae some they will share.
These communists claimed that they need no more funiding and can pay their debts. Except they want the ECB to continue to provide the money from the Liquidity Fund to keep the banks alive. Those banks might have had a chance if they were not loaded with all of that Greek government debt that this government has decided to not repay.
+1 Greek banks are bleeding billions. So far 12 billion in withdrawals in January. Their capitalization is 160 billion.
Drip, drip, drip
My guess is that Tsirpas was punch drunk on the election win, then did a bunch of weird stuff for a week before he finally answered the call from the Greek National Bank which told him that the money is running out..
Now Tsirpas is on his Eurovision tour to get support for his country. Like a washed up old rock star trying to raise some money for retirement.
Sorry mate, this way or the other it's German taxpayers that'll be taking it up the butt (again)...
The more things change, the more they look the same.
I couldn't agree more. Why do you think I'm so enraged? Sold out AGAIN.
"Greece has no leverage to be calling anything."
Sieg Heil, walküre (a username like that spells it all).
Of course Greece has all the leverage it wants. The UE won't be able to survive a Grexit.
Domino effect = The end.
Osbone was clear. Re-read what he said.
Tsirpas blinked (all cards on the table, no more leverage)
Now Osborne is doing his bidding (why? many plausible reasons)
Germany and France are in the pool position (Grexit can be done, mostly painful for Greeks. Potential for domino - far from guaranteed)
Germany and France still hold all the cards (that won't change)
If this is being tied to more Russian sanctions we know WW3 is imminent.
Greece has all the leverage in the world; it's called primary budget surplus. Rest are details...
EU will pony up; reluctantly, but they'll pony up. It was about their banks, not about greek banks to begin with...
plus you have to be math. illiterate to imagine that debt will ever be payed up.
All about DB and BNP, you got it..
before the 1st "bailout" german + french banks were exposed to some 100bln+ of GGBs(I have 122bln for them and Netherlands - aka ING - IMF figures).
if Merkel & co decided they have to save those "experts" who thought the spread between GGB and Bunds is fair at 25bps... ok, it's a questionable decission(even a retard could do better than that). But definitely that should be payed by Merkel & co. I'm sure all those bank experts have an invaluable work experience and crap...
Exactly. Which is why despite the fact that I despise the collectivist bullshit they stand for, they are dead on in telling European banks and their political lapdogs to go to hell and write off at least 80% of the debt that the former greek government inadvisedly too and which was foisted upon the country by the fucking bankers. The notion of helping or bailing out banks is just anathema. Fuck em. You made a bad loan, oh well, looks like your capital is gone. Bye bye. And for all those who will be hurt, too fing bad. Reboot and reset. The world has to get back to sanity and away from the corrosive and corrupting bail-out mentality. Bad debt must be written off and the sooner the better. Otherwise you are Japan. What the fuck do people not understand about that.
The capacity and willingmness of people to lie to each other and to beleive such lies willingly in the face of screaming facts to the contrary is simply astounding.
How many socialists have you met?
They all talk big but at the end of the day, they all need other people's money to live their little utopias.
You're giving this Tsirpas guy way too much credibility. He has absolutely no leverage and all his cards are on the table.
NEXT!
Wishfull thinking is not a winning strategy... You cannot deny a problem out of existence.
Tsirpas is not suicidal. He's a small time communist. They never go away quietly.
He has to deliver what he promised or he'll be hunted out of power and replaced with GD. Be careful what you wish for...
I guess the Chinese political party is your ideal. They are doing well regarding debt.
The US system - no. Japan - no. Seems Germany has a govt debt problem now.
Tsirpas must have some leverage judging from the level of concern from Germany, UK and the US. Does he have the guts? Do not know, but the Greek people have become aware a dire fate awaits them it they do not get out from under the foreign bankers and they may be willing to accept pain now for a better tomorrow. Maybe.
Agree with Trader1. Consider that if Greece does suddenly move away from the EU and towards Russia it will cause a lot of near term volatility and uncertainty and things could get really ugly fast, much better to move slowly and methodically and be fair to everybody concerned.
Let them!
1. Russia has no use for a beggar thy neighbor nation
2. EU and NATO can survive GREXIT
1. Russia won't offer anything close to a miracle, they have no use in printing money for Greece I agree, however they do have a use in having a trading partner (no matter how small) and a stable ally. To the North of Greece lies Rep of Macedonia, Bulgaria, North of there is Serbia...all natural historical allies with Russia. All that stands between Bulgaria and Serbia with Transnistria and Moldova is Romania (former Eastern Bloc). Seems important to me and a natural move for Russia to be on friendly terms with Greece and to want to be.
Greece can not go with Russia without Turkey. Theoretically a Greek-Turkish-Russian alliance would be really powerfull. But obviously that won't happen. It took more than a century of machinations and a world war in order to destroy the Otooman Empire - they wouldn't let such a thing happen again!
1. Russia has no use for a beggar thy neighbor nation
Depends on what Greece is willing to give them in exchange. They do have physical/land assets and strategic value.
2. EU and NATO can survive GREXIT
The options are: US Fed backdoor bailout, or EU frontdoor bailout. Greece has a total debt of around $480 bln. Consider the multipliers built into that debt. Conservatively we're talking about a $1-1.5 tln bailout to stabilize the situation. Yes, they can survive. No, it will not be pretty.
walkuere,
why should we have to transact pieces of paper and binary codes for basic human infrastructure utilities?
Not sure I understand you correctly. Are you asking specifically about the Greek state owned assets to be sold in exchange for debt payments?
not at all.
So far its all just talk. No actions have taken place. Considering the current environment, I will believe things after I have seen them actually happen. And not a moment before.
Exactly
TALK, TALK, TALK
always just Greeks talking
WHERE IS THE FUCKING ACTION PLAN
Tsirpas should hire laborers instead of bureaucrats !!!
The streets are filthy, the unemployed youth is laying around and wasting away.
It's not difficult to put an action plan forward but what does he do?
Pretend money grows on other people's trees to pay for his socialist utopia.
Don't worry, the "fuck this, fuck that" crowd will see the light eventually.
Tsirpas is not bringing in extra bureaucrats, he may be replacing those kicked out. Funny you mention this. Of all the leaders he seems to bring with him the smallest entourage. When was the last time the leaders of Germany, France, US, UK flew on a public plane?
He did put out goals and all the uproar is because of what he has done so far.
And, he has spoken about making the rich tax cheats pay their taxes so he can clean the streets.
Correct. He has spoken. Let's see if he can do something about corruption and tax evasion. In the meantime, he needs money or his government doesn't function. A bank holiday should have been declared by now. 12 billion withdrawals in January. Give me a break. All that money going to Switzerland.
Russia will only takes its place. DBank will have to eat the cheese
Really, mr. Osborne? Funny thing, but I hope he acts very irresponsibly. This is a financial war, and the Greeks will do what is in their best interest, not yours.
Have you been to Greece? The Greeks cannot even muster the effort to clean up their own shit.
NO MORE MONEY
Yeah Dr Schtrangelove, whatever you say!
What is revealed, yet again, is that Reuters is fed by the CIA. Reuters has become a USA propaganda agency.
I see. So a tiny little unarmed country with miniscule debt by comparison to many is now the "Greatest Risk"...?
LMFAO!!!!
Depends on which bets the bookies made in the City and how large of a bet we're looking at.
They're pulling out the big guns with this Chancellor statement.
Huge bets, is my guess.
Maybe the greatest risk is the contagion may spread by example. We can only hope!
I think they meant greatest risk to central bankster pirate schemes.
Something is a fishy when a tiny nation which contrbutes a fraction of 1% to the world's GDP is held up as "the greatest risk to the global economy"
Was looking at greek population the other day and noted that cuba has more people.
Cubans work harder too and don't retire at age 45
Also seem to have a knack for getting a car to run 70 years passed its prime.
imagine how much capital can they save
They don't want a trend to start, regardless of how small a country.
Of course it's "fishy". Given that the Greek debt is miniscule to the cashflow or quarterly profits of the Top 50 Western corporations, it is meaningless in an UNleveraged situation.
If said debt is highly leveraged in Derivatives that are cross-coupled to a host of speculative banks, then it becomes more serious perhaps. In which case, the question is: Why the f_ck were they leveraged in the first place?
Alternatively, this is a smoke-screen for the Chancellor's fear of the Domino Effect: Precedent and inspiration to other PIIGS members.
Yeah, what can teeny-weeny spark do in this really dry forest? I mean, it's so big.
The wind speed is only 70 mph, one little spark ptthh, is nothing...
No No. Thats the whole point. Banksters lent the Greek government HUNDREDS OF BILLIONS of dollars when sovereign spreads shrank massively due to the monetary union for whatever reason. That is a sizable fraction of the Subprime debt that sank the world starting here in the US in 2007-08. It is al ot of money and massively so compared to the tiny size of their economy. Which is why it is obvious the fault is not entirely theirs. What underwriter in their right mind would have looked at lending to Greece when they already had debts multiples of their economy and said "Yeah sure that loks like a good credit risk". No it was all political or other executive profit considerations.
And all of this is a tiny fraction of the debt that will be written off in China over the coming decade. The Chinese will desperately try to paper it over by extending terms and pretending there will be repayment and using their sovereign control of the banking system to extend and pretend but in China the writeoffs will ultimately be something like 10 to 20 TIMES what we had in the subprime crisis. By far the greatest part is corporate followed by local government. Talk about manias panics and crashes!
huh...go figure. And I always thought scumbag, criminal banksters and their treasonous, sociopath political puppets were the biggest threat to the global economy.
Does he call standoff between Greece and EU greatest threat or Greece itself as title states? Is that sensationalism?
Screenshot http://i.imgur.com/7PmDsB0.png
don't worry about the banks. no matter how many shitty loans they make the bonuses will always be safe.
It is so difficult to lie when there are so many sources that prove you are a liar
Tell the UK Chancellor to stick his Babylonian religion up his ass.
+1, chuckled a little I am listening to a Burning Spear (roots reggae) live concert when I read this.
Russia denied $100 million in USD not rubles, to Transnistria.
Food inflation is through the roof.
Russia can't afford its own citizens, let alone Greece
And remember: UK has general elections on May 7th
Greece's track record to pay back debt is APPALING
They're a deadbeat nation. Why would anyone give them money unless they would offer state assets as collateral?
4 defaults in the past 100 years! Tied Tom Brady's record!
Yes, Brady comes to mind when the Greeks talk about deflating their debt.
Yes, and they are trying to wiggle out of the responsibility. The big difference between Spain, Italy and Greece is that Spain and Italy at least function. Greece simply does not function.
The EU is enagaged in basic nation building and the Greeks don't like it. Two generations of Greeks have lived in a fantasy world.
These changes came too quickly and the austerity was arguably too harsh.
I'm not a fan of the EU, banks or their trickery. Greece should not have to pay for the financial shenanigans. They should pay what they actually owe and pull themselves out of this shame and misery. It's the only long term, lasting solution. If the lesson isn't learned, the problem never really goes away.
The bankers and IMF kept pouring good money into places like Argentina too. They seem to do okay losing large chunks of capital. Squeeze it out of others.
i thought great risks to global economy types were generally euthanized.
Hardly the definitive "ruling out" that US media spins.
Can we just start calling it the CIA instead of the "US media" ?
As BRICS are in the processes to decouple economies from the Western neoliberal monetary monopoly, they could bring back the gold standard as a base for their transactions, which is much more steady than the paper money unstable financial bubbles. They are ready, because they are emerging economies with billions of potential consumer tanks and can attract other countries too being victims of the international financial mafia, like Argentina and Greece.
The East is returning to its traditional Byzantium roots and gaining strength. Their Orthodox traditions will give them a better chance of survival as nations than anything economically and culturally the West has to offer. What the West is offering is suicide for nations over time.
The Greeks may not move away from Europe and towards Russia this week but the move there is inevitable in my opinion. The West has been in the ascent for 500 years or so these movements may not happen over night or necessarily with these Syriza people but overall the writing is on the wall about where this is headed.
Remember that the Eastern Roman Empire lasted over 1000 years (the Byzantine Empire is the longest lasting empire in human history, from 285 AD to 1453). The Western Roman Empire lasted only about 200 years (from 285 to 476).
OK, hope you're right about the East's attachment to Orthodoxy, but Syriza displays the same social nihilism as conventional Western parties -- pro-death (abortion), pro-contraception, pro-divorce, pro-gay "marriange", etc. Not good for a country like Greece that has one of the lowest birthrates in the nothern hemisphere.
It's their country. They could do whatever they want inside it...
since when has any government the rights of the individuals? it's ok for greek government to commit suicide of an entire nation?
That government was democratically elected about a week ago. And yes, that means they have a mandate to do what they say...
90 minutes well spent on Yanis V:
http://fofoa.blogspot.ca
Its a must watch. Yanis refers to the US as the global Minataur, which died in 2008 !!!
Who is the greater threat to the financial sector; the prime minister who takes his country's unsustainable debt by the horns, or the prime miister who is still preaching "extend and pretend"?
The rest of the P.I.I.G.S. are watching closely what Greece will get as a way of concessions. That is why this tiny country is so important to the global economy.
How mythical would it be, if it was Greece, upon whose phalanx the expansion of the Persian empire met its demise nearly 2,500 years ago, that broke the power of globalism over national sovereignty!
Country with 0.15% of the world population is the greatest threat to the global economy. You know your country is awesome when.
Awesome ! That's a better ROI than DPRK...
"We get to bail out Greece!"
"No. WE get to bail out Greece!"
"Fuck all of you. WE get to bail out Greece!"
The Anglo-American cabal anthem!
"Running on, running on empty
Running on, running blind
Running on, running into the sun
But I'm running behind"....
Russia. Take it away!!!
Fuck everything about Gideon Osborne and his over-priviledged buddies in the 'City'.
Somehow we're meant to believe that tiny little bankrupt Greece, barely worth 1/5th of the UK economy in a good year, is now the greatest thread to the entire world economy?
Fuck you and your terrorising hyperbole Gideon. Fuck you.
hopes Greece's new finance minister "acts responsibly,"....
You couldn't broadcast "panic" any louder than what Osborne just did!
The real fun happens next when Spain follows suit along with Portugal!
No more "fire sales" for these IMF Motherfucker(s)!!!!
This will all take a few months to play out but the finish will be dramatic.
But But Greece is too big to fail!
Reuters, gladly carrying the central bankster propaganda piss buckets.
Translation:-
UK Banks are up to their necks in Loans to Greece, step forward Barclays, HSBC, Lloyds and the Taxpayer owned RBS, any thoughts on how many Billions the UK tax payer will be liable this time?
The Greeks haven't figured out they have already been written-off!
Their creditors will be around soon for the pot they pee in!
Greece 300 bn
Portugul 260 bn
Spain 1.1 tn
Italy 2.1 tn
Poooof!!!!
Haven't you forgotten something ? The elephant in the room ? Hint: its name starts with F...
China ???
THe 1st two moves the Socilaist/Marxist 'boy wonder' has made immediately after getting elected:
1.) Cancelled major investment in gold mine development
2.) Cancelled the sale of electricity generating assets that would have brought BILLIONS of dollars into the empty treasury!
Soon after: rehired all bureaucrats; free tuition; free electricity to poor; more power to disfunctional unions & looking to double minimum wage!
The citizens of Greece pain has only begun!
1. What is the true potential of the mine development, and for whom? For the comman Greek or is the citizen to get pennies while a foreign corp plunders the resources? Africa?
2. This is the point. Foreign corps and bankers want to take ownership of all of the Greek infrastructure and make the Greek people renters in their own country. That has always been a part of the plan to strip Greece from the Greeks.
3. Could you tell us what the Greek minimum wage is? Over a year ago everyone was talking as if the Greeks got a generous amount as a minimum wage but then it was discovered the amount was much less than in the US.
Exactly the thought process that got the Greeks into THEIR mess in the first place. Those 2 SIGNIFICANT foreign investments (which amount to billions) are pretty much the only 2 offers for investment made by 'outsiders' into the Greece in the past 6 years! The new 'visionaries' couldn't cancel them fast enough! The new PM better not quit his day job!
f??? ?r????
It's only 300 billion Euros! What matters about it is the banks who aer already bankrupt and who hold a lot of this Greek Debt. They can't survive a default. And what financial engineers have done with this 300 billion debt obligation might put a trillion Euros at risk, plus a bunch of hedges out there. If the 300 billion is allowed to default to will spill over and throw an entire continental financial system to the dogs. So Merkel is not sleeping well, her conquest of Ukraine seemed assured, and Germany would, after two invasions, finaly have conquered Ukraine with the USA. While she played at that game, she forgot her rear areas. Greece is about to kick her in the ass. She would have done better to look after the EU she already ran, rather than seek to expand into Ukraine in one swallow.
++ jack burton
"rather than seek to expand into Ukraine in one swallow."
Now that's some funny shit Jack.
Before the recent ECB US$1.4T QE program ... the ECB had just enough to bailout the banks over Greece & Portugal.
Spain & Italy is the official end game.
I think you are missing one ingredient
Russian sanctions are on the table and the new Greek pawn is potentially blocking further sanctions
There is potentially a much deeper story here
Greek debt cut in exchange for a Greek vote on sanctions. Maybe that debt gets converted to war debt. Fresh money to the banks holding the debt and Germany has to agree to a war plan against Russia in East Ukraine.
WW3
Merkel swallows? /s
Well, these are the financial shenanigans I was referring to that the Greeks should not be on the hook for. And to the extent that they are, those should be repudiated. To hell with the crooked ass banks making a dire situation worse. They should fail no matter what this brings.
You cannot build a strong house on a shaky foundation.
Is Greece the biggest risk to the global economy OR is the system that allowed Greece to get where it is the biggest risk? Apparently there's some kind of behind the scenes global bankist agenda to shape the world how they see fit. Greece as they say is not the disease, but the symptom of the disease. The disease is that economic "currency" is not the same as real currency, aka all the electro-chemical energy transactions happening in the universe. That's currency, baby!
It may be escalating a little too quickly. I would have thought that Greece would have asked for its gold to be repatriated. Supposedly 70 percent of the country's gold is elsewhere. They have 112 tons or so the totals say, and maybe varoufakis will tell them that can be repayment -- he probably knows they'll never get it back anyway.
But what is the gold worth really? A thousand dollars an ounce or 10k dollars an ounce? He should ask for the gold back and determine the value of it later when the world economy resets.
"It is clear that the stand-off between Greece and the eurozone is the greatest risk to the global economy,"
Or...............Greece is small and contained
Which one is it guys?............You're embarrassing yourselves. Oh I see now, small and contained is for investors...greatest risk to the global economy is for bankers.........pathetic.
Greece has an easy solution. Pay off their debt by selling Russia and China an island with rights to build a naval and military base. I am sure they can negotiate the price up to a few hundred billion. I am sure the EU and NATO will line up to wipe away that debt.
Crete fits the bill.
Someone has to blow up the status quo. Greece can do it, with leverage through Spain, Italy. Can kicking is almost over.
Cutting off nose to spite face never a sharp idea!
Letting the status quo continue on it's fatal path is not een option. We're at peak growth. The sooner this will be recognized, the better.
The 'status quo' fate of the Greek people has already been carved into granite! Greece is way past 'peak debt' with no place to hide and nothing to offer! Reduced to 'charity-case' status only!
We all know beggars can't be chosers
Ah, I forget Greek dignity feeds people.... Greeks are special!
Here is the end game --
Greeks agree to a 50% reduction in their total amount of debt, and the remaining portion will be a very low interest rates. Greeks stay in Euros. Banks and hedge funds holding Greek debt will get full compensation at 100% of value -- paid for by the US taxpayers (so that those evil Russkies don't get a toehold in Greece)..
The Greeks owe the Germans 22 billion Euros. That's it. Tell the Germans to fuck off.
Only if you want your country to go back to the Stone Age!
It is there already, in case you haven't noticed. What else do they have to lose ?
The popular notion that Greece has suffered through unimaginable austerity is wrong. Infact they have borrowed more & made little or no effort to repay their obligations while the actual 'austerity' has been quite mild. The have finally run out of cash or alternatives & now officially have to face the music!
What cannot be paid, won't ! Get used to it... this is just the beginning.
Then they Greek people will have to get used to two unpalatable choices left to them:
1) No more Euros to buy anything or 2) Lots of their own Drachmas with nothing to buy!
What Osborne actually means is the the Greeks are the greatest global threat to the banking cartel. For the 99% they are true heros. This is a golden opportunity to rid the world of the corrupt oligarchs once and for all. We must not let this opportunity pass us by.
I'd also like to see the Queen of England's head chopped off.
Thats a little dark... How about the corgi's, I dont like that breed anyway..