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Summing Up The Total Chaos That Reigns In Greek "Negotiations"
Forget Pyrrhic victories, the more Greek tongues that wag, the clearer it becomes that no one appears to have a clue what is going on. The contradictory tone from various Syriza members has allowed the opposition to sit quietly by (with the odd jab from Samaras) and watch the collapse unfold. The more threats and promises Tsipras makes, the more cornered he becomes as cash outflows accelerate and cash demands loom. It appears all over bar the printing as both sides are now just posturing for who bears the blame for the ultimat exit, as one wit noted, "once you remove walking away from a deal as an option, you are no longer negotiating."
As The Guardian reports, Greek PM Tsipras made a lot more promises...
A defiant Alexis Tsipras has vowed to win an honourable compromise from Greece’s lenders, after negotiations over economic reforms dragged on without a deal.
Greece’s PM told parliament tonight that: “It is true that we are seeking an honest compromise with our lenders but don’t expect an unconditional agreement from us,”
Tsipras vowed to stop ‘the bleeding’ in Greece, and repeatedly argued that the country needs a new debt restructuring deal. Greece has a simple choice, he argued, between surrendering, or changing the policies that have caused such economic misery.
He pledged to end the ‘pillaging’ of the middle classes, and revealed that a new clampdown on unpaid taxes had already delivered 100 million euros.
Tsipras also ruled out raising sales taxes on food and medicine, or shaking up the labour market, as these “red line” measures could plunge Greece back into recession.
But all around him are contradictions (and we are talking some exemplary contradictions in the last few days...)
"The only way for Greece to end its crisis is through confrontation, if not conflict, with a Germanized Europe," - Greek Energy Minister
Or...
"We seek an honest compromise with our partners" - Greek PM Tsipras
And This,,,
"Privatizations won't happen" - Greek Energy Minister
Or..
"the sale of Piraeus Port will be completed soon" - Greek Deputy PM
And finally...
"Greece won’t abandon its anti-austerity philosophy in return for aid " - Greek International Affairs minister
and...
"Tsipras imagined he'd get money without terms but ended up getting terms without money" - Ex-PM Samaras
Meanwhile, markets are not buying it and Greek risk is surging once again...
Finally, as The Guardian concludes, Greece and its creditors need to meet halfway to avoid the crisis...
If Greece dropped out of the eurozone, in an accidental “Grexit”, the consequences would be far-reaching. Not only would it damage the EU’s monetary union, the EU itself would be weakened geopolitically. Mr Tsipras must show he has the credentials to be a realistic partner.
But, equally, Greece’s lenders must walk a fine line to prevent a breakup of the European project. Just as importantly for the EU’s democratic credibility, there must be room for negotiation. In Greece as in any country, it is never a good thing when voters’ choices end up being ignored.
The question now is - what will happen to Italian and Spanish sovereign spreads?
Despite all the Draghi-juice, spreads are already widening notably - this may just be a glimpse of what's next for Europe in which everyone has been ploughing their excess cash..
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Does anyone believe the "emperor"?
Greeks are going through changes, which we will all go through.
Collapse is fungible.
"once you remove walking away from a deal as an option, you are no longer negotiating."
just do it!
edit: Take Hugo Salinas Price's advice:
"It will be only by giving Greeks a silver coin in parallel with the Drachma, that you and your Party may gradually lead Greece to fiscal equilibrium."
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Throw the Greeks out of Europe already.
this is more entertaining than a Knicks game .... pass the popcorn
Knicks are terrible. More like Golden State.
If the Bankers in Brussels could they would. The Euro is fucked, Germany is fucked. Europe will be in flames again within a few years. History is a big wheel. Wouldn't it be ironic if western civilization began and ended in Greece.
"once you remove walking away from a deal as an option, you are no longer negotiating."
Pretty much sums it up.
More Greek drama.
Germany and the Troika cannot ease off on the Greek austerity rules or Spain, Portugal, Ireland and Italy will elect anti-austerity governments and seek the same relief. But if Germany and the Troika do not throw the Greeks some bit of relief, there is a strong risk of Grexit, and Grexit may collapse the shaking EU/Euro financial house of cards and derivatives.
The EU and Euro are so sound, and their financial and economic systems so well structured, that conundrums like this are impossible. No?
/sarc.
If ever there was a basket case. Bite the bullet Frau, pull the plug, let them go wallow in their Greek feces. Pleeeeeeeze.
This despair of clinging to Greek paupers reveals a full scale of the monetary union disaster, where debt is wealth and sound economic management. Looking forward to Ukraine boosting this holy alliance.
The EU should negotiate with the U.S. on behalf of the Greeks, and the Greeks can negotiate on behalf of the U.S. with Iran.
Lift the sanctions on Iran and a debt jubilee for Greece. Makes as much sense as anything else.
Looks like Greeks are still between the denial and anger phases in the stages of grief as they go through this divorce with the EU. Denial and isolation -> Anger -> Bargaining -> depression -> Acceptance.
"once you remove walking away from a deal as an option, you are no longer negotiating."
Who said anything about NOT walking away? Seems to me Greece has little choice but to do exactly that.
Masturbation without the payoff.
Old money lending proverb: Your first loss is your best (least) loss...
greeks should wallk away under their own steam and terms. a drachma note is intrinnsically as good as a euro not and no debt to worry about. they will be better off. they know the names of the oligarcs whos properties need to be siezed. sieze em..bring THEM to the negotiating table.
start over. a little tourism, a little less imported food, a lot less sauerkraut. sounds like the summer season is shaping up nicely.
The Greeks are pushing the nordics to their own ground (Greek ground), where the former get stuck like five tons vans in a mud river....
Good news !
One more thing.... the EU is no longer the depository of an european project. It merely claims it is... time to finissh off the EU and immediately switch to the eurasian union, before the anglo-americans can profit from the chaos.