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Revolt In Athens: Syriza Central Committee Member Says "Leadership Strategy Has Failed Miserably"
Not everybody is ignoring that fact that just days after the new Prime Minister promised the Greek population on prime time TV that the loathed bailout program wouldn't be extended and that Greece would have a fresh start - i.e., the mandate it was elected on - one without austerity, Greece folded on virtually every demand, to the point where the European Commission may itself have drafted the "reform agreement" that the Greek finance minister was said to have created.
One person who may be starting a splinter revolt within Syriza itself is Stathis Kouvelakis, a member of the central committee of the leftist organization, a teacher of political theory at King's College, and the latest to demonstrate that the Syriza facade of cohesive acceptance of the past week's "negotiations", is starting to crumble.
From his post "The Alternative In Greece", translated by Wayne Hall, and appearing first in Jacobinmag.
The strategy of Syriza’s leadership has failed miserably. But it’s not too late to avert total defeat.
Let us begin with what should be indisputable: the Eurogroup agreement that the Greek government was dragged into on Friday amounts to a headlong retreat.
The memorandum regime is to be extended, the loan agreement and the totality of debt recognized, “supervision,” another word for troika rule, is to be continued under another name, and there is now little chance Syriza’s program can be implemented.
Such a thorough failure is not, and cannot be, a matter of chance, or the product of an ill-devised tactical maneuver. It represents the defeat of a specific political line that has underlain the government’s current approach.
Friday’s Agreement
In the spirit of the popular mandate for a break with the memorandum regime and liberation from debt, the Greek side entered negotiations rejecting the extension of the current “program,” agreed to by the Samaras government, along with the €7 billion tranche, with the exception of the €1.9 billion return on Greek bonds to which it was entitled.
Not consenting to any supervisory or assessment procedures, it requested a four-month transitional “bridge program,” without austerity measures, to secure liquidity and implement at least part of its program within balanced budgets. It also asked that lenders recognize the non-viability of the debt and the need for an immediate new round of across-the-board negotiations.
But the final agreement amounts to a point-by-point rejection of all these demands. Furthermore, it entails another set of measures aimed at tying the hands of the government and thwarting any measure that might signify a break with memorandum policies.
In the Eurogroup’s Friday statement, the existing program is referred to as an “arrangement,” but this changes absolutely nothing essential. The “extension” that the Greek side is now requesting (under the “Master Financial Assistance Facility Agreement”) is to be enacted “in the framework of the existing arrangement” and aims at “successful completion of the review on the basis of the conditions in the current arrangement.”
It is also clearly stated that
only approval of the conclusion of the review of the extended arrangement by the institutions … will allow for any disbursement of the outstanding tranche of the current EFSF programme and the transfer of the 2014 SMP profits [these are the 1.9 billion of profits out of Greek bonds to which Greece is entitled]. Both are again subject to approval by the Eurogroup.
So Greece will be receiving the tranche it had initially refused, but on the condition of sticking to the commitments of its predecessors.
What we have then is a reaffirmation of the typical German stance of imposing — as a precondition for any agreement and any future disbursement of funding — completion of the “assessment” procedure by the tripartite mechanism (whether this is called “troika” or “institutions”) for supervision of every past and future agreement.
Moreover, to make it abundantly clear that the use of the term “institutions” instead of the term “troika” is window-dressing, the text specifically reaffirms the tripartite composition of the supervisory mechanism, emphasizing that the “institutions” include the ECB (“against this background we recall the independence of the European Central Bank”) and the International Monetary Fund (“we also agreed that the IMF would continue to play its role”).
As regards the debt, the text mentions that “the Greek authorities reiterate their unequivocal commitment to honour their financial obligations to all their creditors fully and timely.” In other words forget any discussion of “haircuts,” “debt reduction,” let alone “writing off of the greater part of the debt,” as is Syriza’s programmatic commitment.
Any future “debt relief” is possible only on the basis of what was proposed in the November 2012 Eurogroup decision, that is to say a reduction in interest rates and a rescheduling, which as is well-known makes little difference to the burden of servicing debt, affecting only payment of interest that is already very low.
But this is not all, because for repayment of debt the Greek side is now fully accepting the same framework of Eurogroup decisions of November 2012, at the time of the three-party government of Antonis Samaras. It included the following commitments: 4.5% primary surpluses from 2016, accelerated privatizations, and the establishment of a special account for servicing the debt — to which the Greek public sector was to transfer all the income from the privatizations, the primary surpluses, and 30% of any excess surpluses.
It was for this reason too that Friday’s text mentioned not only surpluses but also “financing proceeds.” In any case, the heart of the memorandum heist, namely the accomplishment of outrageous primary surpluses and the selling-off of public property for the exclusive purpose of lining lenders’ pockets, remains intact. The sole hint of relaxation of pressure is a vague assurance that “the institutions will, for the 2015 primary surplus target, take the economic circumstances in 2015 into account.”
But it was not enough that the Europeans should reject all the Greek demands. They had, in every way, to bind the Syriza government hand and foot in order to demonstrate in practice that whatever the electoral result and the political profile of the government that might emerge, no reversal of austerity is feasible within the existing European framework. As European Commission President Jean-Claude Juncker stated, “there can be no democratic choice against the European treaties.”
And the provision for this is to take place in two ways. Firstly, as indicated in the text: “The Greek authorities commit to refrain from any rollback of measures and unilateral changes to the policies and structural reforms that would negatively impact fiscal targets, economic recovery or financial stability, as assessed by the institutions.”
So no dismantling of the memorandum regime either (“rollback of measures”), and no “unilateral changes,” and indeed not only as regards measures with a budgetary cost (such as abolition of taxes, raising of the tax-free threshold, increases in pensions, and “humanitarian” assistance) as had been stated initially, but in a much more wide-ranging sense, including anything that could have a “negative impact” on “economic recovery or financial stability,” always in accordance with the decisive judgment of the “institutions.”
Needless to say this is relevant not only to the reintroduction of a minimum wage and the reestablishment of the labor legislation that has been dismantled these last years, but also to changes in the banking system that might strengthen public control (not a word, of course, about “public property” as outlined in Syriza’s founding declaration).
Moreover, the agreement specifies that
the funds so far available in the Hellenic Financial Stability Fund (HFSF) buffer should be held by European Financial Stability Facility (EFSF), free of third party rights for the duration of the MFFA extension. The funds continue to be available for the duration of the MFFA extension and can only be used for bank recapitalisation and resolution costs. They will only be released on request by the ECB/SSM.
This clause shows how it has not escaped the attention of the Europeans that Syriza’s Thessaloniki program stated that “seed money for the public sector and an intermediary body and seed money for the establishment of special purpose banks, amounting to a total in the order of €3 billion, will be provided through the HFSF’s so-called ‘cushion’ of around €11 billion for the banks.”
In other words, goodbye to any thought of using HFSF funds for growth-oriented objectives. Whatever illusions still existed regarding the possibility of using European funds for purposes outside of the straitjacket of those for which they had been earmarked — and even more that they should be placed under the Greek government’s jurisdiction — have thus been dispelled.
Defeat of the “Good Euro” Strategy
Can the Greek side possibly believe that it has achieved something beyond the impressive verbal inventiveness of the text? Theoretically yes, insofar as there are no longer any explicit references to austerity measures, and the “structural changes” mentioned (administrative reforms and a clampdown on tax evasion) do not pertain to this category, a modification which of course needs cross-checking against the list of measures that can be expected to emerge in the coming days.
But given that the target of the outrageous budgetary surpluses has been retained, along with the totality of the troika machinery of supervision and assessment, any notion of relaxation of austerity appears out of touch with reality. New measures, and of course stabilization of the existing “memorandum acquis” are a one-way street as long as the present regime prevails, is renamed, and is perpetuated.
It is clear from the above that in the course of the “negotiations,” with the revolver of the ECB up against its head and resultant panic in the banks, the Greek positions underwent near-total collapse. This helps to explain the verbal innovations (“institutions” instead of “troika,” “current arrangements” instead of “current program,” “Master Financial Assistance Facility Agreement” instead of “Memorandum,” etc.). Symbolic consolation or further trickery, depending on how you look at it.
The question that emerges, of course, is how we landed in this quandary. How is it possible that, only a few weeks after the historic result of January 25, we have this countermanding of the popular mandate for the overthrow of the memorandum?
The answer is simple: what collapsed in the last two weeks is a specific strategic option that has underlaid the entire approach of SYRIZA, particularly after 2012: the strategy that excluded “unilateral moves” such as suspension of payments and, even more so, exit from the euro, and argued that:
- On the issue of the debt, a favorable solution for the debtor can be found with the concurrence of the lender, following the model of the London agreements of 1953 for the debts of Germany — ignoring of course the fact that the reasons the Allies behaved generously towards Germany do not in any way apply to the Europeans today vis à vis the Greek debt, and more generally the public debt of the over-indebted states of today’s EU.
- Overthrow of the memoranda, expulsion of the troika, and a different model of economic policy (in other words implementation of the Thessaloniki program) could be implemented irrespective of the outcome of debt negotiations and, above all, without triggering any real reaction from the Europeans, above and beyond the initial threats, which were dismissed as bluffing. Indeed, half of the funding for the Thessaloniki program was envisaged as coming from European resources. In other words, not only would the Europeans not have reacted, but they would have generously funded the opposite policies they had been imposing for the last five years.
- Finally, the “good euro” scenario presupposed the existence of allies of some significance at the level of governments and/or institutions (the reference here is not to the support from social movements or other leftist forces). The governments of France and Italy, the German social democrats, and finally, in a veritable frenzy of fantasy, Mario Draghi himself were from time to time invoked as such potential allies.
All of this came crashing down within the space of a few days. On February 4 the ECB announced the suspension of the main source of liquidity to Greek banks. The outflow that had already started rapidly acquired uncontrollable dimensions, while the Greek authorities, fearing that such a reaction would mark the commencement of the Grexit, didn’t take the slightest “unilateral” measure (such as imposition of capital controls).
The words “writing-off” of debt and even “haircut” were rejected in the most categorical manner possible by lenders who became enraged even hearing them (with the result that they were almost immediately withdrawn from circulation). Instead of their overthrow, it turned out that the only “non-negotiable” element was that of keeping the memoranda and supervision by the troika. Not a single country supported the Greek positions, above and beyond some diplomatic courtesies from those who wanted the Greek government to be able, marginally, to save face.
Fearing the Grexit more than it feared its interlocutors, entirely unprepared in the face of the absolutely predictable contingency of bank destabilization (the system’s classical weapon internationally for almost a century when faced by leftist governments), the Greek side was essentially left without any bargaining tools whatsoever. It found itself with its back to the wall and with only bad options at its disposal. Friday’s defeat was inevitable and marks the end of the strategy of “a positive solution inside the euro,” or to be more accurate “a positive solution at all costs inside the euro.”
How to Avert Total Defeat
Rarely has a strategy been confuted so unequivocally and so rapidly. Syriza’s Manolis Glezos was therefore right to speak of “illusion” and, rising to the occasion, apologize to the people for having contributed to cultivating it. Precisely for the same reason, but conversely, and with the assistance of some of the local media, the government has attempted to represent this devastating outcome as a “negotiating success,” confirming that “Europe is an arena for negotiation,” that it is “leaving behind the Troika and the Memoranda” and other similar assertions.
Afraid to do what Glezos has dared to do — i.e. acknowledge the failure of its entire strategy — the leadership is attempting a cover-up, “passing off meat as fish,” to cite the popular Greek saying.
But to present a defeat as a success is perhaps worse than the defeat itself. On the one hand it turns governmental discourse into cant, into a string of clichés and platitudes that is simply summoned up to legitimate any decision retrospectively, turning black into white; and on the other because it prepares the ground, ineluctably, for the next, more definitive, defeats, because it dissolves the criteria by which success can be distinguished from retreat.
To make the point through recourse to a historical precedent well-known to leftists, if the Treaty of Brest-Litovsk, under which Soviet Russia secured peace with Germany, accepting huge territorial losses, had been proclaimed a “victory,” there is no doubt that the October Revolution would have been defeated.
If, therefore, we wish to avert a second, and this time decisive, defeat — which would put an end to the Greek leftist experiment, with incalculable consequences for society and for the Left inside and outside this country — we must look reality in the face and speak the language of honesty. The debate on strategy must finally recommence, without taboos and on the basis of the congress resolutions of Syriza, which for some time now have been turned into innocuous icons.
If Syriza still has a reason for existing as a political subject, a force for the elaboration of emancipatory politics, and for contribution to the struggles of the subordinated classes, it must be a part of this effort to initiate an in-depth analysis of the present situation and the means of overcoming it.
“The truth is revolutionary,” to cite the words of a famous leader who knew what he was talking about. And only the truth is revolutionary, we may now add, with the historical experience we have since acquired.
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Will Butler from Arcade Fire writes a song inspired by the Greek government negotiations!
There is far more going on here than we are privy to.
How is it possible that, only a few weeks after the historic result of January 25, we have this countermanding of the popular mandate for the overthrow of the memorandum?"
Because elections don't matter, child.
Because the Greek leadership finally got their Spanish estate deeds and Bentley's and so forth delivered safely. Chokepointz, bitchez!
Chokeponzi and Checkponzi.
Meet the new boss, same as the old boss.
Give me liberty or give me a ten-part plan to collect more taxes, privatize public assets, and reduce pensions.
Countdown to Greek riots in Syntagma Square & Greek Snap Elections.
Go! Opa! (flaming Molotov cocktails ablaze)
Going through foreclosure is always unpleasant.
I just can't find the strength to make fun of the Greeks for their stupidity at electing those people based on empty promises, when we did it first. Hope and change, bitches. Circa 2008.
What was Bush's promise, a smaller, less intrusive government?
Americans, average IQ of 100, run by genes with an IQ approaching zero.
Alas, the average IQ is much less than 100, with the worldwide average on decline: http://uhaweb.hartford.edu/BRBAKER/
A Sociology 110 paper rife with grammatical errors? Titled The Decline of the Average Human I.Q.? By someone who hasn't figured out how to use spell check?
Well, you get points for irony.
JFC . . .
You labor mightily to help make my point. Here are a few other references for others who are offended by the diminished quality of today's academic standards or unable to make use of internet search tools: https://www.fourmilab.ch/documents/IQ/1950-2050/ or http://www.dailymail.co.uk/sciencetech/article-2730791/Are-STUPID-Briton...
Maybe it's the language. The Greek voters made it perfectly clear that they wished to stiff those who held their debt. Syriza ran on that platform. Then, once elected and having to sit down in front of the troika, they realized they could do nothing, so they acquiesced. And now the Greek voters are wondering wtf happened.So one can only assume that the term "Go fuck yourselves!", in Greek doesn't translate right.
The Greek populace is adamant about stiffing the Germans, holders of their debt. The chants of "DEEE-FAULT!!!" so popular today will ring hollow when the Germans decide to wage war against them 21st century-style, with a full blown economic crushing post Grexit. Asses will be whooped.
I just saw their new finance minister on TV. They insist that the eurozone isn't going to let an EU member country collapse over 'just a couple billion euros' when they run out of cash. He also said that they are going to make up for the shortfalls in revenue and rid themselves of 'austerity' by going after tax cheats and tax delinquents.... Good luck with that. You need jobs to have tax payers. And since at this point a large portion of the country is expecting all out collapse and withdrawing their money at a record pace, I don't forsee many people giving up that cash to the govt to waste on interest payments on the debt or pensions for their useless govt pensioners
When you find yourself confused by leaders who speak of soft landings in flowery language, it's because they're up in the plane sitting in first class, and you're just part of the rubber in the tire that is meeting the runway. Soft for them, pretty much destructive to the actual population. Meanwhile, the landing gear is chastised for being upset at the people in the cockpit for stalling the plane.
Beware of Banksters bringing forbearance.
It's a trap.
Syriza's preparing a dish
But Greeks are not getting their wish
They want a new deal
Not a fraudulent meal
With meat being passed-off as fish
Don't judge too fast...wait for the blast
Firesale.
undertatement of the century......plus a bunch to you
Reposted from another thread:
http://www.strategic-culture.org/news/2015/01/29/a-soros-trojan-horse-in...
Nice post thanks...
A great backgrounder on Varoufakit. Turns out (surprise surprise) he is a completely bought and paid for neolib in a socialists leather jacket. Not that it matters all that much anyway since Greece's goose is cooked whether inside or outside of the monetary union...
Good luck Greece... you're certainly going to need it... but rest assured that yopu won't be alone as all of Europe and indeed the world will be following you into complete economic oblivion soon enough.
Yep.
Yanis, Mario Draghi, Lloyd Blankfein, Bill Dudley and the J Street Boyz all hang out together.
great post.I knew the soros angle but was not sure who.
"Varoufakis also served as «economist-in-residence» for the Valve Corporation, a video game spinoff of the always-suspect Microsoft Corporation of extreme globalist Bill Gates."
That's clutching at straws a bit and painting JK Galbraith as a neo-liberal is just insane. Galbraith had a nice quote which is pertinent to Greece's situation.
"Politics is not the art of the possible. It consists in choosing between the disastrous and the unpalatable."
They sold the voters on a fairy tale, they can now give them a disaster or the status quo. Which might feel like disaster to the current voters, but will be pined for if Greece does decide to go off the cliff.
It's always the same with every central bankster nation; Ezero or otherwise. The line is towed, regardless of what the newly elected may say. Once a member always a member of the ponzi. They do as Dr. Paul Craig Roberts stated when it all began, as he said they'd all be assassinated. Not a chance in hell the bulk of the newly elected had any idea how nasty the criminal bankster thugs get when the entire corrupted global fiat debt based currency system is the pot. The leverage came from assassination central; neither you or your family will exist should you go forward. This wasn't and never will be like a bankster stress test where marshmallows get slung upon the backs of banksters. The new greece government got grenades shoved up their sphincters and the pin was going to be pulled on every last one of them and their families. Now lets negotiate.
OR they could have nice wooded overcoats for all their family.
Hey Greeks.
You're toast. You cant' afford sovereinty anymore. Just merge with Russia.
If you have to borrow to sustain your society, you're being sold past your sell by date.
More than likely NSA/MI6 dropped a file on the desk of each leader of Syriza late last week-"reminding" them of whom they really do work for
I'm actually impressed... chorizo lasted longer with their rhetoric than the typical CONgressman.
Perhaps, but that's not very long, is it?
They went to Germany, got roofied by the CIA and then were covertly filmed having sex with children. The next morning they were then shown the videos and told to play nice or else.
That's how the global shadow govrenment controls its politicians.
That wouldn't surprise me.
Sorta reminds me of our last NOV Elections which handed the Republicans the Senate.
maybe.
"If, therefore, we wish to avert a second, and this time decisive, defeat — which would put an end to the Greek leftist experiment, with incalculable consequences for society and for the Left inside and outside this country — we must look reality in the face and speak the language of honesty."
better tell them that language of honesty they want to speak went the way of latin in political discourse.
and... that greek reality they say they want to look into the face of could be the medusa.
Whole lotta kornholin goin on C.D.
Someone dig out the Syntagma Square riot cams, we're gonna need 'em...
A revolution is exactly that. A full circle.
that sir is a revolting thought!
This is a German retreat. The 4 month period will give government the chance to reverse austerity. It will be a tough battle.
Exactly. Someone needs to leak that's really happening behind the scenes. There must have been some A+ threats made for them to trash their ideals in all of a month.
Wonder what it was? Outright death threats, invasion? You'd think with Russia's offer in their back pocket they'd be less inclined to take the EU's BS.
They stay in the Euro Greece will continue to rot. They leave the Euro Greece continues to rot along with the rest of the world as EU banks go tits up.
The only solution is to cancel ALL worldwide debt and move back to a proper money system. They won't let that happen.
@ seek, it very well could be any of those things, probably several of them. It also may have to do with being blamed for the inevitable chaos that would ensue. The grexit and return to the drachma would probably lead to a hyperinflationary event and collapse, and would involve a lot of pain. I believe that in the end, that would be a good thing, and wipe the slate clean of all the un-repayable debt. But that would be a long time in the future, and politocos rarely look further than the next election. They fear being blamed for the very necessary reset, and in kicking the can, they mearly push this off to a later date. But, at least now, they avoid blame. As I have been saying a long time, anyone looking to syriza to change any thing or tell the bankers to fuck off is going to be very disappointed
"They fear being blamed for the very necessary reset"
None of these sociopaths are that brave. Worldwide reset is impossible at the current level of human evolution.
We need to rethink the concept of debt. Just as every stock purchase doesn't work out neither should every loan. Default, default, default.
Why you all want to see nail guns, death threats and any other stupid justifications to explain why your beloved faux communists did not bravely exit the Euro and in the process, increase your fucking gold or Bitcoin stashes' value?
It's pretty simple. Those people can rarely run a municipality (although several of them were very diligent with their personal finances, having moved their money abroad ahead of the elections) and they were suddenly thrown into running a whole country. They have no fucking idea how to do that. Varoufakis' only actual economic success was the virtual item market of Steam, when working for Valve. You know, selling pixels for money to kids.
Did you think that they actually planned to say no to EU money? No, they counted on extorting it, so that they could fulfil their unicorn promises to the people of Greece, and secure their electorate for the years to come. It proved out to be a bad plan, but they don't have any alternative, because they can certainly understand that going out of the Euro would mean unemployment going from 30% to 60% overnight, and they won't be able to face the angry crowds after that.
So, this was a realistic decision for the leading brains of Syriza. The sworn leftists however cannot understand this and demand "explanations". That's what's going on right now.
I will repeat once more that the only parties who are thruthfully rallying for a Euro exit are the Nazis and the hard-core communists. Under any of these options of leadership however, I certainly prefer a "compromised" Syriza at least to buy us some more time to stash gold and bitcoins.
Sorry, Seek, this is not personal, I just had to react after reading the assumption of death threats for a 100th time.
'Bitcoinz'
lol.
"I just had to react after reading the assumption of death threats for a 100th time."
I think you're dead on. It's the same feeling I have when people say that Justice Roberts was threatened when he was the deciding vote on Obamacare, or that they "have something" on Boehner, or that they have something on Obama for that matter (you don't see that here because virtually everyone here knows that Obama is just a tool of the oligarchs, but you see it elsewhere).
All politicians are tools of the oligarchs. They play different roles and they say what they think will get them elected, but when it comes time to make decisions they act in favor of those for whom they work -- the guys in the Big Club that we're not in.
These are not mutually exclusive. See comment below RE: economic hitmen.
Then read this article:
http://www.strategic-culture.org/news/2015/01/29/a-soros-trojan-horse-in...
Sorry to keep reposting this link, but I think the article deserves further consideration.
Rand, Given the power of the NSA that has been revealed, it is safe to assume that all Americans have a file on them, and it can be updated with a mouse click. Anything in your life you may have done, all your phone calls, emails, medical records, fiancial transactions, EVRYTHING sits on government computers. So when someone stands against the Oligarchs of Washington, how hard is it to blackmail them? If this IS the one clean person who fears nothing in their past, then the CIA can simply point out how many people die by suicide and accedents, or odd medical conditions.
It is safe to say, the "Deep State" is now all powerful and nearly untouchable. The only place left on earth Snowden even has a chance to survive is deep in Russia, protected by a vast complex of military and state security services.
I get your point and I'm sure you're right that some politicians need to be threatened to get them to fall in line. My view, however, is that the large majority need no threats at all. I think the vast majority of politicians, judges and appointed technocrats who make it to national office were selected and vetted before we've ever heard of them. It is far more effective to be sure on the front end that you have an inside man in the position of power than to risk that your threats are exposed. Bullionaire's article linked above, for example, contends that Varoufakis has long established ties to the oligarchs.
Good to see the conversation progressing towards the "why?" they wanted to even be elected. This is a crappy job as it was evident well in advance that they would be wedging themselves into a very difficult situation.
I believe it's in the Grand Chessboard... once you reach a level of some authority, you succumb to some sin or devious act carefully supplied and recorded by the oligarchs. From that point forward they have you under your control. Some then go full on with a secret life of debauchery and yeild to their full control. Some don't but they've still been compromised by the chess players, never to cross them or lose their life in one way or another.
Just look at VP Bidding... what a sick fuck, total perv'... publicly showing everyone what he can do with the hidden power that's behind him.
There's no HR Dept. at the top.
Indeed! I'de say 99.999% need no blackmail or threats. Brainwashing and rewards have done their job. But the very few, that tiny little few who may rise up, like Snowden, will be cut down by the powers of the "deep state".
Lol a file that can be updated by a mouse click.
We are talking about the federal government. They are all fucking morons.
They change lightbulbs by having one guy hold it, and another 8 spin the ladder he's standing on, even then they only get it right 50% of the time.
Naive much? They're not stupid... just 100% bought.
We're not talking about our govt. here... those pulling the levers run our govt. from the shadows.
Just look how quickly a central bank and fiat currency is swept into any country that renews itself. People in the newly founded U.S. tried but were unable to keep the sick fucks out. Even though they threw off the yoke of the monarchy, it wasn't long before we lost the real war.
http://p5.focus.de/img/fotos/crop4497385/3924872826-cv21_9-w630-h270-oc-q75-p5/urn-newsml-dpa-com-20090101-150223-99-11726-large-4-3.jpg Bad news, Schäuble smiled...
skistroni spot on +1000.
The Greek elections SYRIZA garnered what 37% of the vote total? What many here forget is the other 63% including many in SYRIZA want to continue to use the Euro and were/are not ready for the pain of dropping out of the Euro. Many here thought the Greeks would give the EMU the finger and default outright if they did not get their way. Many here including myself did not think so.
SYRIZA made promises it cannot deliver on without leaving the EU and the EMU period. The Greek voters want their cake and eat it too and it simply was not going to happen. Many times people talk about oweing the banks a 1000 and it is your problem but owe them billions and it is te banks problem. The only way for it to be the banks problem is if your willing to follow through on your default, which SYRIZA, the exception of a few nut cases, was not prepared to do.
Now if the entire country starts to riot well I may belive they made a mistake. I do nto think they did but who knows in 4 months. I do know the new terms are under english law and not EU law which is a real game changer if they have already signed the documents.
IF there is no debt cancellation . welcome to the Dark Ages part II .. a debt cancellation maybe offered.. eventually......... but it will come with STRINGS .. a lot of police state and technocrat oligarch stipulations .. sad to say . unless there is blood running and most of it is banker blood .. or power broker blood . .very likely nothing will change much. JUst another version of SSDD.
@Iceland
This same problem is coming to all the EU countries, Japan, USA and many other countries. We cannot contniue to print without getting some form of debt forgiveness. The math does not lie.
Have you read Perkins' Confessions of an Economic Hitman? I believe the jackals paid a visit to both Tsipraa and Varoufakis. They capitulated because they fear for their lives and those of their loved ones. That's how this game is played.
Given the lack of hot-air emanating from them, I would bet that's exactly the case.
I can only wonder if they were ever naive enough not to expect this outcome.
No doubt. I think the Jackels have arrived in Greece, and with their past record of action, only a fool would ignore their arrival!
a special account with 7 to 8 figures will be sent to a place of your choosing. upon confimation of funds, you will quickly agree to our terms...welcome aboard. You are one of us now
". . . or, we can do this the hard way and murder your kids in front of you. But it's totally your call."
Death threats, and descriptions of full economic doom being delivered to certain parties.
Bankers and their government employees have been threatening the personal safety of Syriza government leaders? I wouldn't be surprised.
how do u know that "there is far more going on than we are privy to", if you are not privy to it?
Because nothing makes sense when examined beyond the surface, typical of an official and false narrative.
So it doesn't make sense to you that when a new government takes over and really sees the books and sees that there is no solution without pain for the serfs, that this government will make a choice of lesser pain in the immediate time frame instead of making the harder decision to tell the truth and face reality?
All I can say is that if you don't see that, theh you are far behind. It's called kicking the can down the road.
It is actually fairly clear if you look at the 'false narrative' being East vs. West, when in reality everyone is on the same side and all of this is being done to usher in globalization. Of course, a few billion must die first, to make the threat REAL as they push everyone into their trap with no other solutions available...or so they think.
isnt it obvious that they have been threatened with their lives at the stake?
wouldnt you just fold if you had to pick between "do what you re told" and "forced suicide"?
Hardball Cog, hardball. The Greek leaders obviously love their families. The stakes are so big, the end justifies the means in the troika's eyes.
Hardball Cog, hardball. The Greek leaders obviously love their families. The stakes are so big, the end justifies the means in the troika's eyes.
judging by up votes(cog dis), "that may be the understatement of the year" so far anyways...how true, as we can only imagine about one scenario, curtesy of perkins reality of compliance...
edit: wow, how did this end up on page 2, anyways reacting to the "moar than we will know" comment.
You means we's gots to pay da bills? No gov peeple pohsitions foeber? Well dat suks; revolt on dem freakin shnitzle lubbing goimans.
These Leftist thought they could look their father satan in the eyes and win a stare down?? That's funny.
Bring on the cocktails!
Wanna know what it feels like, betrayal?
Just you wait until the Republicans are in charge.
Or the Democrats.
Toot Sweet, Bitchez
It's about political ideology, not political party. As long as both sides are controlled by the same group of progressives, what do you expect? Certainly not channge.
The only change to expect is the doubling down on current corrupt policies and inevitably everything getting much worse.
about a trillion piled on the national debt/year with zero effort to right the ship heading towards to the berg...
This will really piss of the die hard republicans. But I will say it anyway. When the next president is republican, I expect no excuses when they govern just like Obama, or most likely even worse. Party loyalty is really disgusting in the year 2015. How can anyone honestly remain loyal to a party, when there are only two, and they both are direct organs of the "deep state" or "oligarchy".
As Harbanger says, its about ideology and republicans have none. They simply seek to survive...to be the loyal opposition that does nothing, takes no real stand. Only stamp their feet loudly with defeat. Progressives would have it no other way. Ultimately, every one of these fuckers believes that it is only through them, through their power, that the path to righteousness is traveled. Its only about power and NO elected representative will reverse their own power. Republicans have no platform to stand on other than one which they do not follow. THEY are killing the conservative ideology more so than any progressive ever could.
There is no party loyalty on the Repub side. Republicans HATE their voting base, and have no problem stating that in public, ie McCain. Jeb Bush for example, just hired Tim Miller, 33, an openly gay progressive, as his communications director and senior advisor. So Jeb must be running as a Democrat in 2016.
Aside from the fact that a true conservative, that believes in the limited power of the federal government, can do no more than a man attempting to lift himself by his own bootstraps, they do not believe that a conservative voting base can elect them. Instead they pander to the theoretical dissatisfied democrat. Meanwhile we have nearly half of Americans who do not vote and they are written off, just like those not participating in the workforce magically do not count as unemployed. Republicans are deliberately marginalizing themselves. When they possess political power they refuse to use it. Instead they are committed to bi-partisanship as they don't want to look extreme. The left never hesitates. They will pass a healthcare bill in the dead of night with all democratic votes in a procedural maneuver, while the republicans are scared to death that they could get blamed if any part of the government is shut down. They own the House and Senate, yet if the president...one man, says no, it is they that are taken to the woodshed. Its simply ridiculous. They are not progressives in that they have no REAL ideology other than the desire to win. And personally I don't think they even want the majority, much less the Whitehouse, as they epitomize the desire to avoid ALL responsibility. Only the loyal opposition...who does nothing.
And frankly, I think many republicans don't want change as they have become as dependent upon the existing corruption continuing as any democrat.
what you just said says HOPELESS and NOCHANGE! and out of respect, yaaaaaa, i agree...
Extend that natural skepticism of the Deep State controlled Red Team/Blue Team hoo-rah tomfuckery to the Deep State controlled East/West dialectic and you might be getting somewhere. Everything else is old news, save for the Proles, who are utterly beyond saving.
http://redefininggod.com/2015/02/globalist-agenda-watch-update-18-the-st...
F'in Right Jack. Clinton vs Bush.
Folks haven't we seen that movie before?
(... Yes Sir, the Check is In The Mail...)
No waiting needed. It is already on full display for those brave enought to open their eyes. We are slaves.
Tsipras choice: Austerity or starvation.
He took cornholing FTW.
Gee, another turncoat politician. How surprising.
Yeah, a real shocker that you don't get something for nothing.
Tylers please. The phrase "mutiny in Athens" should mean that something got burned down, not a minor squabble between Partei members.
usually its a collapse so we got that ..
Agreed. There is no REVOLT in Athens. Think the Tylers need to look up the definition...or at least the root context the word should be used within....no revolt here. Noone is doing anything but the norm.
Moral of the story- You can't correct a leftist mistake by going further left.
Golden Dawn.......bitchez !!!!!!!!!!!!
Does that mean I have to watch another press (Golden Dawn) conference of that man yelling its time to fear and the Junta bailout?
Greece is revolting. (You can say that again)
4 months extension. Reforms not in effect until after the extension has passed. Preparations for Grexit are under way imo.
I think you're correct walkure. Greeks are buying time to prepare. Might include details of their new relationship with Russia/China and the EU is preparing for a Grexit.
They may have also agreed to the 4 month extension so they can print up an appropriate number of drachmas. Just sayin, it's possible.
I wish. But I think these politicians are like most other politicians and don't have such high regard for their country that they would want to do any hard work for it. A Grexit would entail a lot of difficulties in the beginning. It would be the right thing to do. But since when do politicians do the right thing? These cuddly "Leftists" will kick the can as long as they can to stay in power.
If the turnip has no blood, it has no blood. They are trying to avert the chaos of running out of money tomorrow. That means collapse happens tomorrow. Credit event tomorrow. CDSs triggered, tomorrow. Banks blow up, tomorrow. Bank runs tomorrow. Letters of credit fail, the next day. Business comes to a standstill the day after that. All trades null and voided. Shit hits the fan in courtrooms for years afterwards. Sure they want to profit if they can, but I think this is about keeping the system on life support.
I think this is likely. When you go bankrupt, you can use card A to pay off card B, back and forth for a while. But as you run up new debt, you can't cover anymore. One more loan from one more creditor (if they are dumb enough to loan it, or you are outright fraudulent and lie to them to get a little more time/money) and you use those resources to pay your bankruptcy lawyer, to downsize your place, sell your stuff, etc. A loan from mom and dad might be good for that...
You cannot get blood from a turnip. They need time to figure their way out. This is time for the EU to figure some things out, as well. And you can hope someone has a good idea no one thought of, in 4 months. No one will, but you can hope for it.
It's clear that Germany wouldn't go for the 6 months extension because a whack load of debt is maturing after 4 months. Debt that would have to be renewed. Either Greece sees this opportunity to prepare for Grexit or Germany may just walk from the table because it refuses to be on the hook for even higher losses.
They speak of renewed "love" in the world of the Euro partners. I'm not feeling it.
The EU has - at least on paper - enough gold to back all debt and then some. Ultimately all the purchasing power of fiat will go back to the source, the master currency. It will happen, someday, one way or another. Will it be their last deed before a Grexit-induced derivatives meltdown, or will some other external event make it happen? We will find out. To be continued...
Money talks...
Dow 19,500 bitchez. Greece can do it. BTFD
everytime another Greece story is posted please preface them with the following text...
"GREEK'S = PUSSYFIED DEBT SLAVES"
Greece has a problem and nobody wants to face it and now they have the choice of a slow or fast death......
Their problem is an unsustainable welfare state. Same as the rest of the West, just bigger.
Not so much bigger, but more complete.
actually, it's the debt that's unsustainable. same as the rest of the West...
Welfare caused by states needing to subsidise big business who pay below market rate wages.
You can't blame a worker claiming benefits to get by. You have to blame the person not paying him enough.
did they outsource their negotiating to John Kerry ?
& Condi Rice
Syriza's main gail is debt forgiveness. But they have no intention of leaving the euro. Just like true socialists, they want cake without working for it.
Absolutely right, not just Syriza, the Greeks! They want to drop austerity measures AND negotiate a new deal AND stay in the euro. To me there are only two courses of action: Stay in the euro, adjust and shut up OR Exit the euro, default on debt and start all over again.
Not just the Greeks, the entire West. Populations and demographics in the west are changing and the old bloated Govs just don't have enough working plebs to tax.
No worries, the Greeks plan to raise another 3 billion from more efficient tax collection.
No, their borrowing has lead to tax policies that kill the workers. Its a negative feedback loop...which circles down the shitter.
Both sides of this shit sandwich taste the same. EuroSocialists versus egghead bolsheviks
kids grow up so fast, when they face real problems.
Yes. I agree.
But both adults and the kids die when facing the outcome of a predicament.
Many of us will die as a result of the impending Worldwide Economic Collapse.
Greece does not face a problem. Greece faces a predicament. No matter what choice is made austerity is the result and a very bad result.
Now you may choose to gloat at Greece and the kids running the show over there. And that is alright.
But whilest you are looking over there the United States is also facing a similar predicament. It may not manifest as rapidly as it has in Greece.
But you can be assured that it will manifest over here also.
You are just watching your own destiny unfold before your eyes so that you can sit in horror as it develops in the USA.
Keep gloating.
Such a Great post TT. Everyone is so smug about Greece et al, It's coming to a country near you very soon. Some later than others, but we ALL will go thru bankruptcy as a country before it is over.
Many countries and powers will not look anything like they do today when it is over.
"... for don't speak too soon for the wheel is still in spin, And there's no tellin' who That it's namin'...."
The order is
Rapidly fadin'
And the first one now
Will later be last
For the times they are a-changin'
never saw this coming!...I dont like to brag, but I considered myself pretty smart...damn you common core!
Your problem is that you conFUSED the attributes of intellect and clairvoyance when they need be differentiated.
Clairvoyance and intellect are two entirely different attributes. They can be confused as the clairvoyant does express precognition of future events. Thus they seem "smart" and "wise" when they only have an enhanced sense of vision.
If one has the gift of clairvoyance, AND DOES NOT USE IT because of the lack of intellect while having the knowledge, or because of outright ignorance, then what does it profit him?
For a Real World Example if a clairvoyant has a vision of a crashing aircraft and, subsequently, places a massive short on an airline, then the clairvoyant will realize a large profit.
However I do not see all that many rich clairvoyants in our society.
This is because many whom claim to be clairvoyants are actually frauds.
Another reason is that there are varying degrees of clairvoyance. Can they be consistently clairvoyant? The more precognition with which they are gifted will yield more opportunities to profit from their gift.
Also most valid clairvoyants are ignorant that short trades are even possible***, and if they have that knowledge, then they lack the intellect to put the two events together in order to gain.
(***Of course this is referring to the Real World Negative example. Clairvoyants can forsee positive events and can also develop strategies to profit from them. They do not suffer from bitemporal hemianopia. There are many other strategies which can be employed to profit from positive events. All it takes is INTELLECT and KNOWLEDGE.)
If an event cannot be prevented then why not profit from it? Make lemonade out of the lemons. And if you are given that sweet lemonade on a Silver Platter then all the better. Sell lemonade. Too bad most clairvoyants lack the intellect on developing a method to do just that.
It is best to learn to differentiate the attributes of the human psyche as the lack of that ability only leads you to confusion.
You are human, right? Then you also have a psyche which you may choose to explore. LEARN TO DIFFERENTIATE.
Boys doing a man's job. What do you expect?
The ECB intimidated these Greek boys.
Bureaucrats negotiate and that's all the Syriza party really is, they are academic blowhards! Revolutionaries, on the other hand... well, we know what they do. HOPELESS!!!
From tragic comedy to Elizabethan farce;
This is Scheisse, not Sparta
C´mon, Billy whaddidyaxpect?
Wolfie, you will get your just desserts. Stay closer to home this summer, in fact stay close to your bank branch. TPTB would never reset the system during winter. By Labor Day it will be new money, new rules and new opportunities for all. Consider this 4 months extension a "gift" of sorts.
Really, you think my wealth or the wealth of my family depends on banks? Ridiculous.
All I'm suggesting is that you have access to your "wealth" regardless of where it is located. The term "tangible" asset will have a whole new meaning.
So bottom line is everybody gets to hold what they got for another four months.
Forward, oh Soviets!
one junk country to save another one. This would be even funnier to watch.
You must have a heyday each and every day as you walk down your neighbourhood street then. Afterall you're looking at the startof the troubles. That which you did nothing about but got warmed by your flag.
So now the banksters come down hard on the Greek people.
HOLD! Do not fire until you see their bayonets firmly plunged into your chests!
I picture Putin rubbing his hands together. Tells Greeks....here's the cash, as soon as you veto all EU sanctions on Russia.
The Russians aren't about to pour good rubles down the greek shithole.
Russia will wait for a complete meltdown when Greece will come begging - then Russia can pick them up cheap