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Redlined Comparison Of The Eurogroup Draft Varoufakis Was Ready To Sign, And The Draft He Rejected
Just like last week, the reason for the bitterly acrimonious collapse of today's Eurogroup attempt to resolve the Greek crisis, was in the wording of the proposed final Eurogroup draft. And, just like last week, while the Greek FinMin was initially willing to sign a specific draft (in this case penned by Moscovici), it was subsequently revised to a draft which Varoufakis threw up all over, leading to a premature end of today's discussions, one which for the second time in a week prevented the Eurogroup from even issuing a joint statement.
So what exactly was the reason for the Greek disagreement?
Now that both the acceptable, pre-revision (source), and rejected, post-revision (source) texts are available, we can find precisely which inserted and deleted words resulted in a surge in the Greek's blood pressure.
Presenting: the red-line (or rather blue-line) comparison between the two drafts, none of which was ultimately signed by anyone.
Some of the key variations:
- the addition that the Greek authorities "intend to successfully conclude the programme taking into account the new government plans", something which when listening to the Varoufakis presser was clearly not the case.
- the addition that Greek authorities will commit to "refrain from unilateral action"
- the addition of specific reform parameters including "tax policy, privatisation, labour market, financial sector and pensions"
- the addition of a Greek commitment (not agreement) to guarantee (not ensure) "debt sustainability in line with the targets agreed in the November 2012 Eurogroup statement."
And the punchline: the language about the "six month technical extension" not of the current loan agreement as an intermediate step, but of the "programme", and the addition of the explicit "bridge" language.
No mention of the Troika in either of the drafts.
The question of just who ordered the last minute change will remain unanswered, but we suggest all inquiries be directed to the country with the 49 area code.
...
Update: the Channel 4's Paul Mason has some more:
OK (1/4) - the document I was leaked was not the *final* Moscovici draft. I now have that also. The one I published was datelined 18:20 ...
— Paul Mason (@paulmasonnews) February 16, 2015
(2/4) The right one is headlined “Close of business”. It has a significant different text including “humanitarian crisis” and is stronger ..
— Paul Mason (@paulmasonnews) February 16, 2015
(3/4) The “close of play version” of @pierremoscovici is here: pic.twitter.com/szjyFcPoW4
— Paul Mason (@paulmasonnews) February 16, 2015
So this “close of play draft” pic.twitter.com/szjyFcPoW4 is even stronger pro-the Greek position than my earlier one.
— Paul Mason (@paulmasonnews) February 16, 2015
For transparency: i was sent 18:40 version by trusted source to show it existed, but this one superseded it: pic.twitter.com/szjyFcPoW4
— Paul Mason (@paulmasonnews) February 16, 2015
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Eurocrats play games with Greece
Printed with disappearing ink no doubt
Strangely, it doesn't say anything either way, really.
Only thing matter is where's the money on the due date.
Those informed they are the weakest are sometimes the most powerful. Ignore the lies Greece.
3 days
A "working weekend"
untold millions in catering bills and travel expenses
all to argue over the wording of a one page statement for the plan they are hoping to put together.
WTF ?
Something tells me that they agreed to the verbiage Varoufakis asked for knowing that they would change it back to the original and hoping that he wouldn't spot the difference before he signed. Their big mistake was removing "humanitarian crisis" as he has had a real hard-on for that phrase ever since he appeared on the stage. I guess when he saw that missing, he dug deeper and realized what happened.
I have to admit, if this was their plan, it was a pretty clever move to send him back south with egg on his face. Too bad for them Varoufakis has quite the eagle eye on him.
Dude. I get the Greeks are broke. But any lawyer working for them with two iq points to rub together would run a delta view or work share compard on it to see the changes.
When you owe the Bank $350K, you have a problem. When you owe the Bank $350 Billion, the Bank has a problem.
It seems to me that the Eurogroup has two choices:Get SOME of the principal returned or get NONE of the principal returned.
So it might be time to stop the arrogance and BS and get real...
There is no principal and never was. They aren't going to get any of it back and they never were. No principal, no interest, no nothing ever.
Every government in the world operates the same way. Borrow money and never repay, just keep borrowing more every year. When everyone thinks you can't go on any longer, come up with another slick trick, another quick fix, another gimmick.
If they won't loan you any more then just refuse to pay. Don't pay back any of it, default, repudiate the debt, if you can't inflate it away to nothing.
In a year or two the same banks will be begging you to borrow again.
The Balance SHeets of the ECB and several of the large German and French Commercial Banks might see things slightly differently. And remember, Deutsche Bank already has enormous leverage.
BO as Holder regretted has just not been able to disarm Americans so when the SHTF it could get messy.
If I was the Greek negotiator I would just walk.
Call a press conference and declare "The money you have lent us is gone, negotiations to restructure the repayment of Greek public debt have failed. As a result from 6:00am tomorrow we the people of Greece will cease to recognise the immoral and unjust debt obligations of former corrupt Greek governments and we the people of Greece will halt all payments to service those debts ad infinitum".
It's the kibuki dance. They can't just print drachmas without them being able to prove to the greek voters that they bent over backward.
Fuck-ya
They're playing the Greeks as greenhorned chumps.
Now we see if the Greeks can rise above the natural human response to such profound disrespect and stay smart.
Will egotism and/or undermining self-doubt steer the Greeks right into the EU-meisters' hands?
Varoufakis and Tspiras are being tested by fire, imo.
The Hellenic government commits to being our bitch, and to enslaving the people against their will, and all future generations which will never have an opportunity to agree or disagree, forever.
Long as Investors are freed from "Financial Repression," Liberty will reign, so it's all good I guess.
Apparently the bully who is choking you out in the name of what is most sacred among "civilized people" is the good guy when he gives you one last chance to lick his ass for even one more breath.
hoping greece does what many of us want and defaults..it would be a small step to opening eyes wide shut across the west..the scots had a chance and went with the route the Irish all to often have taken..too bad that.
Have you ever tried to collect a debt from a Greek?
#JustPrintDrachmasEndEuroDebtSlavery
Classic bait and switch. Not very subtle, but when have Germans ever been subtle?
How long before someone nailguns Varuofakis?
Be careful when you ride your 1300 CC Yamaha.
http://en.enikos.gr/politics/23282,Varoufakis_the_coolest_polician_arri....
Varuofakis is protected by Russia and China. The nail gun guy was a victim of Russian mob, very dirty. The guys pushed from rooftops are CIA/ESF or Mossad jobs.
Now if signs up to more EU banker misery then he should watch his step.
You are tricked!!!
Germans think the gas chambers and the ovens were subtle, hell even the language is violent to the ears.
Brilliant, what a keeper. This redline makes the respective positions clear and unambiguous: the Greeks demanded a renegotiated deal, and the ECB demanded "as is". Nearly ALL the revised language of the draft reverses the language of the original and reverts it to the opposite meaning - to a complete "as is", no changes, right down to the struck-through "newly" before "agreed" at the end of the page.
No wonder the situation is acrimonious. The ECB seems to have treated the draft with utter contempt. I am amazed at how far in denial their "negotiators" appear to be. They really must be stuck in a corner with no way out, if this is still their perspective. What stupid stubbornness, no room to move at all, how hilarious! To my eyes these revisions make the ECB look desperate.
The only revisions I concur with, are the ones that revert the spelling to Commonwealth Standard. Oh, and a few comma insertions, some of those were good too.
Fantastic presentation, so clear, thanks Tyler.
Its all a play for those who money will ultimately be stolen. Germany must act aggressive in their pursuit of their investors capital, and Greece must look like they are fighting for their people...but in the end, there is no money to pay these debts, they will not be paid...ever. But they can't say that. They must represent the threat of default to motivate the lenders to believe if they do not compromise, write down the debt, they will lose it all...but still no default. It all voluntary you see. No default and NO Grexit. The Union Must Stay Intact. Its about power, and debt is the ultimate lever to power, much more than simple wealth. To own is powerful but to be owed is all powerful.
Oldwood, I upvoted you for a well explained comment, but I disagree. To be owed is, in fact, the weaker position unless (and sometimes until) a creditor can back up its demands with physical force. The threat of physical force, the police/military option, may mitigate a lender's risk, but even that does not make lending risk-free, no matter that governments and bankers need their debtors to believe in their power to enforce demands. In this case, the military enforcement option seems quite problematic, not least for NATO. I would call it a non-starter in this case.
In reality, the ultimate lending risk is always on the lender, and even though that risk can be postponed it cannot be cancelled. This redline says (to me) that Greece does not need the ECB, but the ECB does need Greece. It honestly looks desperate to me; it's like the ECB cannot afford even the smallest flexibility. No matter how reasonable or necessary a renegotiation is - and everyone across the board except the Troika admits this - the ECB seems unable to afford to consider even the smallest change in position.
It looks to me as though they realise they have boxed themselves in so tightly that they cannot budge at all; without military/police force the Troika is in a straitjacket. The Greeks have several options (albeit they are all painful ones), but the ECB looks to have none at all. Vid the redline's insistence, line by line, on a complete adherence to status quo. It looks to me as though they have nothing to negotiate with.
If it is the lender at risk, why is it those in debt who are the ones seemingly suffering. we seldom hear the plight of those defaulted upon. I agree that for you or I to be the lender is risky indeed, but I think those who hold this level of debt are a bit more "aggressive" in their solutions.
They suffer till they don't.
"the ultimate lending risk is always on the lender" who in this case may nevertheless attempt to 'fix' the risk with bail-ins and other forms of confiscation, from the populace at large.
I said earlier on another post that the bankers only have one position and this just proved it. These sociopath bankers only care about winning.... at ALL costs. Greece has at least 4 options in response. 1- refuse to pay, thereby forcing the bankers to capitulate. 2- obtain alternative financing (outside of the EU) 3-Grexit (and go totally alone like Iceland). 4- Cave. Both parties are stuck on their Plan 1 at this time so this is going to continue for awhile. No matter what happens, Greece better be prepared for serious pain because sociopaths don't know any other way. In their twisted mind, they have to make Greece pay no matter what.... and at a minimum, make Greece a bad example to discourage any of the other PIIGS from trying the same thing.
<<they have to make Greece pay no matter what>>
...which is a physical impossibility.
If their only alternative to status quo is physically impossible - which is what this redline leads me to think - then they are quite boxed in, not a position of strength. Just as you say, Greece does have other options. I'm not arguing that Greece is not up shit creek. They most certainly are and they better have some good friends outside the Anglo Axis when this is over because they will need them. But relative to the box the ECB has woken up in, personally I'd rather be on Greece's side of the table than the Troika's right now. Before today, seeing this right from the horse's mouth, I really had no idea that the ECB's position was this weak. I just assumed - they're negotiating, right? So they must have options in mind, or some kind of flexibility.
Well, I guess I can see now why they're calling for a weaker negotiator at the table than Varoufakis... it seems the Troika cannot afford to face any negotiation at all.
There are many ways to make someone "pay" besides repayment of money owed. A sociopath will do anything to win... bribe, threaten, extort, torture, murder, incite revolution, stage a coup, etc. Sociopaths will get their pound of flesh some way, even if it ultimately means destroying themselves. That's what truly sick twisted fuckers they are. Even if the bankers lose, they will make Greece such a complete shithole that no other PIIGS will dare try it.
I agree the Banksters are sociopathic -- they are everywhere else -- and will try to make Greece "pay" through retribution if they don't get their greedy profits they demand.
But I also think there are other current EU countries those Banksters had better be just as concerned with. Maybe moreso. Spain, Italy, Ireland, etc.
This would be a masterful time for Putin and China and the rest of the BRICs to step-in and make a major league move.
And this will almost certainly reverberate "across the pond" and put huge pressure on the FED who has used some of the same pages from the worn-out playbook.
Renfield; I like all your comments here. Makes me think.
Basically, Bankers Play Hard Ball. They don't give up. They don't admit the Truth no matter what. They say there is "No Way", "No Give", "impossible to take write downs".... this is all absurd. These bankers made this system, made it all connected, and the basis of business is that people fail, businesses fail, Investors lose sometimes, Risk would no make sense as a topic if Investors always won their bets. Yeah, Tough Like Huns, Tough like the Golden Horde.
My take has been different. Looking at the US 2008 Financial Crisis where spies in the Treasury stated we might have Martial Law in the Streets. Or the one where Blankfien says we are doing gods work. William K. Black says they took (paraphrase) like 5,000 FBI agents to process state AG Referrals (Files of case) and took over 10 years, and prosecuted like 5,000 banking executives in the US S&L Banking Scandal, and that 2008 was like 10-50 times worse...
(so that they would need to prosecute 20,000 -50,000 Bankers and face a National Crisis in World Markets as US Reputation & Currency would be in Question)
National Security - US as leader of the world Financial markets, Biggest Economy, Biggest Market, Super Power... Collapses due to Systemic Fraud triggering Foreign Markets all Fleeing to safety at once and maybe even planning some military or financial punishment for the USA... Instead we bailout foreign Investors at the biggest Banks, and we Bailout our TBTF Banks, Even pay the Bankers to manage the Bailout and don't require them to surrender any wealth.
- Hard Ball by experts promoted for being tough and being able to Lie in public and on camera.
- Hard Ball by experts who own the governments, sovereigns, and Diplomats.
- Game Over, unless countries "Opt Out"
- If Europe's TBTF (ETBTF?) can't fix the Banking System, then let them lead the Collapse.
- I'm sure there are Lawyers & Bankers who would be glad to handle the Corporate Dissolution of Assets for ETBTF Banks
I kind of know this behaviour, as part of bad relationship.
Spread it in the news so that the ++49-region will wish it had left the draft unchanged.
I hope Greece just does a deal with Russia and China after fully repudiating EC... Time for global relocalization and return to sovereignty rather than the Banksters organizations... Of the people, by the people and for the people, not TBTJ.
When Papademos tried to take Greece out of the Euro, he is said to have said Pres. Sarcozy (sp) whispered in his ear - if you do I will kill you.
This story must be well known in Greece. Things in Greece have developed beyond the point where a few assassinations could turn them back, but the German and EU attitude is of masters who expect to be obeyed, giving a final warning.
Next EU move: a NATO directed coup? A false flag followed by a NATO invasion?
Does Greece have a preemptive move? Firing the top brass? Not before they make a move. A Russian or Chinese military base? Again, that would be a provocation. A deal with Russia and or China to build Greece's part of the new Southstream pipeline would be provocative but a necessary risk. It will be a signal that Greece has somewhere to turn if they have time. But it doesn't answer the direct threat.
No, I think it's the EU's move next. Greece's junior officers and enlisted career soldiers have undoubtedly been watching closely. Syriza can call the people to the streets, but Greece's fate will be in the hands of its soldiers. Will they allow a repeat the fascist episode of the 1970's and follow the generals? Or will they stand with the people?
All of Europe will be watching - and maybe erupting.
Why aren't they just leaving the Euro?
fear driven retention of milk from the tit...
think two yr old bear cub having to face finding food on its' own...
"fear driven retention of milk from the tit.."
Mastitis can be very painful...........for the Euro Cow, which only confirms that the debt merchants have to create new debt milk as the existing debt milk is being destroyed.
Milk the cow or she dies of mastitis
the cow needs to be slaughtered and cut up for hamburger/sauasage and sent directly to germany. sumtin better that no ting.
Lil sumpin sumpin?
They are bad renters. They complain about the paint and the smelly carpets (that they never clean) after refusing to pay the rent. Do you really think they are going to move out if you don't evict them? Free rent...I don't think so. Trust me. Moochers will suffer any indignity to live rent free.
i keep thinking the bulldozers are coming to level the fucker. think'g econ hitmen.
The Greeks will gladly pay you Tuesday for a hamburger today.
Tuesday comes and the Greeks show up with a paper bag full of shit and say...
"the burger was of poor quality and was sold to us under false pretenses of satisfying our hunger, so we are returning it to you"
Upon your complaint that this payment is unacceptable, they reply...
by setting the bag of shit on fire, leaving you to stamp it out with your best shoes or watch your house burn down.
Solutions...sure thats what we need.
I smell something....
Made me laugh anyway. In my youth I succesfully executed the bag of shit trick a few times. Fond memories.
There really aren't any good guys in any of this. They should have never borrowed money they knew they could not repay and those lending should have known better as well, but there are those who are playing the long game, using every weakness against us...and easy money is a weakness. Its about destruction..and power.
I kind of agree, although I don't think the average greek could have known what would happen, and you can't always fault a people for the mistakes of past governments. In any case, the greeks should either stay or leave. There really is no other choice. And it doesn't make much difference to me.
oldwood: there you go again..please define "MONEY". as used and taken by greece. printing out of thin air is not money it is illusion. the banks hold this paper as an asset. too fucking bad. If I lend a hop head money I do not expect to get paid, I am not that stupid..nor were these banksters, they got paid bonus to sell these loans, and did no due diligence.
I borrowed "money" to buy my home...but I never saw it. It kind of came and went in a moment and then boom...I was in debt. All it took was signing a few papers (well a lot of papers). I know, lots of you guys think that mortgages are bullshit and you shouldn't have to pay your loan off because it just some paper shit somewhere that was created from dots and zeros. I get it. But I also still have a house that was built and paid for by someone. Its real. And I can guarantee that the money that Greece took and paid their public employees may have been just an illusion, but they are still eating.
Greece fucked up. They should have made this stand ten years ago...but they didn't. How is this not significantly their fault? Are we all victims? Is none of it our fault? Just evil fucking bankers tricking us poor simple folk who just don't know no better?
oldwood, you are a good man and honor your debts I am sure to a T. however the game of .gov debt is all a crime built on corruption..the lenders wanted greece in debt, and as long as greece taxed it's people ..they were good for it..until the greek people said eureka!, this tax is not helping greece it is making banksters rich, while we suffer. and so tax avoidance, wait til that day when Americans across the land wake up to the public debt game..even you will stop paying taxes on that day.
Debt is always about leverage and power. Debt is to be avoided at all costs if you treasure freedom, but few do these days. Governments are given the power to create debt in the name of their people, deliberately enslaving them,it seems, for eternity. They question IS, why do they never learn? Does anyone really think they are going to walk into a casino and come out rich? They must because there seems to be an endless stream going in the front door. We cannot make laws. Our government makes them and enforces them. The more protections we demand from the bastards the less free we will become, as the laws inevitably always protect those with money to a much greater degree.
There is no solution to Greece's problems because they are problems largely of their own making, EVEN IF they were tremendously enabled by those looking to take advantage. The same as it has been since we crawled from the primordial slime.
Defaulting is a part of the contract. Adding morality into the equation is of your own construction. IMO, no one should feel an obligation to pay a debt to the bank, an institution run by thieves, who would just as soon cut your throat for the money if it were legal. A relative, yes, the banks, no.
I'm all for default. If it happened more there would be fewer willing to lend. Default is part of the contract and the consequences for said contract are in that document as well. Morality may be my construct but without it, nothing is possible. When we rely solely upon the written contract we are truly fucked because there is no written contract on this planet that does not fall under the judgement of some court somewhere which means if you have not the resources to enforce or defend your contract, you are fucked. Morality is the glue that holds a society together. Doing business with some of the largest corporations in the world for over thirty years I have never had to rely on a written contract. I have had some general contractors demand contracts which I grudgingly will sign, but I understand that those contracts are written for THEIR protection, not mine.
Their problem is that they didn't set up Gamblers Anonymous hotlines like we have here in the states.
Russua is playing the long game. Putin met with the Greeks then he met with Markel and Hollande and gave away the farm in the peace deal. I think Greece is why he was so accommodative in the peace talks. No two-front wars for him.
They = All them that are not us.
"...They should have never borrowed money..."
"They" the people had about as much say about what "Their" government did in "Their" name as "we" Americans have in changing what Obama(bush/clinton/bush....) have done in "OUR" name.
Someday, "Someone" might hold "us" responsible what "Our" Government did in "Our" interest.
One shouldn't get cocky, the wheel is still spinning.
Could, YOU, find where and when the Greek People or (any People ) were told they (Politicians with their sidekicks, Presstitudes) were Guarantors of money borrowed on their behalf, the amount AND the time AND their details? if so, I would greatly appreciate it and agree thoroughly with you.
If Greece were to leave the Euro today, Spain would leave it tomorrow. And Italy by Friday.
Then, next week, unemployment in Germany would go to 50%.
Your burger comment shows that you don’t understand it well….. I am not talking how you want your burger cooked.
Exactly, the Eurozone members are swimming naked, while the tide is going out.
Bunga Bunga
Tide going out
I also thought that Ronald Regan’s Voodoo economic would bankrupt America during his presidency…….
Here we are, 30 years later.
So, by observation, I think it is too soon for the Euro, and its tide, to go.
Greece aint goin nowhere. There is no place for them to go. What, they are going to print their own money? Who would take it? really...how many times have they ditched their debt??? The ONLY reason they are in the hole for this amount is BECAUSE of the EU, BECAUSE they could borrow money at Germany's rates. They would have never been able to borrow this much otherwise, and even within the EU, they were loaned this amount to stave off default that would taint the EU, not Greece. Greece will not leave and the EU won't let them leave. They have entered a Mutually Assured Destruction pact. And like it or not, we are in it with them. This is a sinking ship and Greece is just on the lower decks. Just wait and watch.
I cannot speak for the greek people, but I would hope many in greece (varoufakis) understand money was made by bond traders, banksters, EU operatives, hedges, on these loans ..so everyone of them turned an eye and made this happen..heck they were paid well to do it. now we have posters here on zh saying the greeks are dead beats and must pay up..no the debt holders must take the medicine for willingly forcing these loans avoiding the obvious that the borrower could not pay.
I'm not saying the Greeks are dead beats and must pay up. They can't. Its impossible. But it is also a lie to say they do not share a big part of the blame in this. There are too many indignants pointing fingers when they should be looking more closely at themselves. The Greeks, like virtually everyone else will take advantage of a situation if they think there will be no repercussions or consequences. This is why they let the debt grow like they did. They always knew it could not be paid, and for that I blame them. But also those doing the lending had to know as well, and likely some were doing it for shirt term gains but others were doing it because they had no other choice. Default CANNOT HAPPEN. Derivatives and the future of these moneychangers hangs in the balance. They will not let it fail.
Although the Greek people bear some responsibiilty for supporting a govt that supported the ponzi, the bottom line is the bailout money didn't go to the people, it went to bail out the banks. Just like TARP. So the Greek people really aren't deadbeats, more like deadheads, just like USSA sheeple. Instead of debt holders being held responsible, we have taxpayers being extorted to keep sociopathic bankers alive. The first moral hazard has to be the banks as debt holders. Only then can the people have a chance to learn to live within their means. The only reason why none of this has ever been solved is because the entire rule of law has been corrupted by sociopaths.
That *is* the question, isn't it? Perhaps the sacrifice of Greece will pull Spain and Italy into line. As the Chinese say, kill the chicken to teach the monkey.
While Greece does need to go through the hell of Grexit, it will be better off in the long haul. Still, the pain of withdrawal will be evident to the PIIS, so they will more likely fall into line. If they don't surrender or choose to walk away the euro will indeed collapse.
The question is, is the ECB bluffing?
There are too many people responsible to too many people for their money that has been lent out. Normally they would just take the beating and go on, but there are too many. They will suspend reality to create an illusion that some part of this debt will be kept alive, preserved to be repaid in the future. People are already willing to accept negative interest returns. Do yo not think they will accept a haircut rather than a full loss? If I promise to pay you Tuesday because I cannot pay you today, do you write it off or wait till Tuesday, especially if its not your money. Those losses will reflect on you, your reputation if not outright indebtedness. Some of this money belongs to unkind and those of little understanding.
No I think the EU has a ways to go, too many vested interests to let it fail. Print, pretend, extend and never end.
That *is* the question, isn't it? Perhaps the sacrifice of Greece will pull Spain and Italy into line. As the Chinese say, kill the chicken to teach the monkey.
While Greece does need to go through the hell of Grexit, it will be better off in the long haul. Still, the pain of withdrawal will be evident to the PIIS, so they will more likely fall into line. If Greece doesn't surrender or choose to walk away the euro will indeed collapse.
The question is, is the ECB bluffing?
Of course.
They will just have to keep readjusting the bluff.
Their lifestyle depends on it.
And I'm sorry - where does if I don't pay you my kids and grand kids will fit in?
That's the beauty of sovereign debt...it never dies, it just rolls over.
If you own 1000 euro’s to the bank you’ve got a problem
If you own 7000.000.000 to the bank... THEY CAN KISS YOU GREEK HARRY BALLS!!
The greeks already understand. The germans still need to wake up.
So basically everything.
Given the vague language used here, no wonder this situation is a shitstorm.
The language is always vague.
Politicians need room to manoeuvre in the future.
I'm pretty sure that applies to ALL of them.
I'll bullshit you today to leave room for more bullshit tomorrow.
Political language... is designed to make lies sound truthful and murder respectable, and to give an appearance of solidity to pure wind.
George Orwell
from
"Politics and the English Language," 1946https://www.mtholyoke.edu/acad/intrel/orwell46.htm
Wouldn't be surprised if the new draft was also covered with a thin layer of ricin
Po210 , Naw Too Russian
You mean Hemlock, or haven't you been watching CSI, it's the Anarchist Cookbook of forensics.
Greece should get out of the EU/EURO, non payment and default on all "debt", and move on.!
That's Gold, Jerry! Gold! This puts how the financial powers slave a country in plain view. No excuses for ignorance.
This type of language was succesfully introduced in IMF "agreements" throughout South America in the late 80's and Southeast Asia in the 90's. even though the language wasn't known, the results are well known.
Banksters are not fond of people who read for comprehension. As a lawyer, I too find it a bit "uppity".
http://www.zerohedge.com/news/2015-02-12/american-neocon-fck-eu
Lawyers, politicians, and diplomats have their own language designed to obscure truth.
What does that mean?
It means that in the food chain we are edible.
I loaned my out-of-work neighbor a G, and he never paid me back. So he asked for moar. I loaned him another G and he did not pay me back. This went on on for 5 years. Now he wants to renegotiate. I think I might be screwed?
And you didn't lose your position in the family as the Banker?
Seems like your wife would fire you. And it no wife, your father would make you eat shit.
Who makes Germany & France eat shit for their loans to Greece to make a quick high yield? Bankers never seem to lose their jobs often enough... if they get government or central bank concessions, they get promoted or bonuses for the "fixed" game of indebting their neighbor... they get bailouts and keep their golden parachutes, right?
I bet the document officially quitting the EU is shorter.
This is what the Marxists want: they want to agree on the structure vs. Europe saying they have commit to specific measures.
But they're both essentially the same: the Greek gov't is going to tax the ever living shit out of Greeks, not nationalize their industries, and not raise their minimum wage to the point where it causes emigration to Greece. They're also not to create any unilateral trade barriers or restrictions of capital or labor. Oh, and the new bailout funds can only be used to recapitalize their banks so they can get on with inflation again.
In the classic political economy question -- who wins? -- Big Business, Big Government, Big Labor.
It's basically the same fucking thing as what they have now.
You're not going to get a real split on what's going on until you have REAL TAX REFORM. And by this, I mean, you actually default and then tell the Greek gov't to go suck it when it comes to taxes. That way no one is at the table selling you out.
For those of you looking for the destruction of the Euro: these are not the droids you're looking for. Tough luck.
Germany (EU) vs. Greece Monty Python clip. The world stage is watching
https://www.youtube.com/watch?v=-2gJamguN04#t=79
All these agreements concerning future commitments by countries projecting the infrastructure of labor markets are disingenuous. Why do they continue to use outdated models to project into the future. It's BS. I have a difficult time listening to Glenn Beck but Jason Calacanis, an angel investor, had an excellent perspective of future labor issues. His interview is at the end of the show at the 1:36:00 mark.
Source: http://www.glennbeck.com/2015/02/13/what-does-the-future-hold-glenn-talks-to-entrepreneur-and-angel-investor-jason-calacanis/?utm_source=glennbeck&utm_medium=contentcopy_link
shitty deal... these fuckers in the ecb can't go down quietly
Unfortunately for us all a Greek "victory" would mean more Europe, not less. Direct transfers of wealth from the north to the south to narrow the gaps in competitiveness. A huge jump towards a "united states of Europe", with large gains for Brussels. That is the "Greek", and Mediterranean, end game. I find it difficult to see Germans folding on this. Grexit it is.
One thing is for certain, between the port strike in California, the ongoing Icepocalypse 2015 over much of the country (very unusual winter weather, right?), and now this Greece/EU pimp slapathon, tomorrow stocks will close green on the day and paper gold/silver should get monkey hammered. Same song...different verse......
the only reason you loan someone money, you know they can't pay back, is if they have something you want, that's not for sale. the greeks seem to be saying, "what part of not for sale don't you krauts understand"
+1,000,000
https://www.youtube.com/watch?v=Zvl9N9GdraQ
Milton Friedman predicted this would happen with the EU structure.
presented with no comment
https://www.youtube.com/watch?v=j2AvU2cfXRk
China and Russia? ..... They'd rather owe them?
When Greece was admitted into the EU, most of the Greeks stopped working as they thougt the EU is now going to pay them for doing nothing. That's true, I have friends in Greece who told me so at the time. They are one of the laziest, corrupt, crooks in the world. Start collecting taxes so that you can run yor country or else forget about repaying your debts, noone expected you to do so anyway. Just leave rhe EU and wait for rhe day you become just anorher failed state, ripe for the Islamist to take over.
#GreekHairCut
A bunch of words. The little editing in semantics changes nothing. Greece will never pay back in full, so they will default eventually. That's a fact. The sooner the Troika and Germany get this, the better.
This is really interesting to me because it parallels my negotiations with BAC over an inherited piece of real estate. We've been arguing over it for nearly six years, in and out of court.
It's like this: The bank is the troika. They want me to pay. I am Greece. I'm not paying and, further, I'm claiming it's a bad deal.
The bank, like the ECB, does not want to appear weak. They say, pay the loan. I am like Greece, backed into a corner not of my own making, but one in which I can live. I see the bank's loan origination as a fraud, their effort to foreclose a fraud, and their efforts to negotiate less than sincere. Very similar to Greece, which has a loan arrangement agreed to by former politicians and now the new Greek government is telling the ECB/EU/IMF they don't like the deal and want to re-negotiate, but the Troika is reluctant to do so.
I'm hoping that Greece and I will have similar positions in the near future: tell the bankers, no deal on your terms, here are our terms and we're going home. We have matters which need our attention (Greece: running the country; me: running my life/business).
Life imitates geopolitics. Fascinating.
The difference is an actual contract. Did vasisnamefakis really think he could get away with a letter that was just a poliitical statement. Sorry, Im not with stupid.
Troika to Greece, "Please, please just make it look like we won...we'll take care of you after the next election"
The Problem is the same as in 2008. Insolvency and the domino effect - it is related to leverage and zero reserve requirements on soverreign debt. WHo holds Greece's debt - Spain, Italy, France, etc.... who holds Italy's debt - Spain, Greece, France, etc. Its a circle jerk of debt, leverage and cross-party risk. Look for EU to move to freeze Dreek assets - the same move any creditor would make.
Watching grexit for sardonic amusement is like watching zappa's
200 motels to learn about the finer points of
Plot direction and character development
"And right after we sign this, we invade Poland." - Frau Merkel