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The Greek "White Knight" Emerges: Putin To Give Athens €5 Billion For Advance Gas Pipeline Fees
With Greece teetering on the edge of insolvency and forced to raid pension and most other public funds, ahead of another month of heavy IMF repayments which has prompted even the ECB to speculate Greece should introduce a parallel "IOU" currency, a white knight has appeared out of nowhere for Greece, one who may offer $5 billion in urgently needed cash. The white knight is none other than Vladimir Putin. “Just because Greece is debt-ridden, this does not mean it is bound hand
and foot, and has no independent foreign policy,” Putin said previously.
According to Spiegel, citing a senior figure in the ruling Syriza party, Greece is poised to sign a gas deal with Russia as early as Tuesday which could bring up to €5 billion into the depleted Greek coffers.
The move could now "turn the tide" for the debt-stricken country according to a senior Greek official.
As Reuters adds, during a visit to Moscow earlier this month, Greek Prime Minister Alexis Tsipras expressed interest in participating in a pipeline that would bring Russian gas to Europe via Turkey and Greece.
Under the proposed deal, Greece would receive advance funds from Russia based on expected future profits linked to the pipeline. The Greek energy minister said last week that Athens would repay Moscow after 2019, when the pipeline is expected to start operating.
Greek government officials were not immediately available to comment on the Spiegel report.
Of course, this being Greece, the probability of actual repayment is negligible: after all the likelihood of a Greek default is astronomical, and €5 billion will do little to change the mechanics of Greek debt sustainability. And Putin very well knows this.
However, the Russian leader is not acting out of the kindness of his heart, but merely engaging in another calculated move, one which kills two birds with one stone:
- Following the death of the South Stream, whereby the EU pressured Bulgaria to refuse passage of the Russian gas pipeline to Europe, Russia needed an alternative route of bypassing Ukraine (and Bulgaria) entirely, something which according to Kremlin's plan should happen over the next 3 years. And with Hungary and Serbia all eager to transit Russian gas to the Austrian central european gas hub, Greece was the missing link for a landline transit. With this agreement, Russia gets the green light to extend the Blue Stream all the way to Austria and preserve its dominance over the European energy market while leaving Ukraine in a completely barganining vacuum.
- Perhaps just as importantly, suddenly Russia will energy as the generous benefactor riding to Greece's salvation, in turn even further antagonizing the Eurozone and further cementing favorable public opinion. As a reminder, several weeks ago we showed that Russia already has a higher approval rating among the Greek population thatn the Eurozone. In this way, Russia has just won a critical ally for the very low price of just €5 billion, without even having to restructure the entire Greek balance sheet should Greece have exited the euro and been attracted to the Eurasian Economic Union. Which also means that all future attempts to impose further sanctions on Russia by Europe will fail thanks to the Greek veto vote.
Russia is not alone in seeking to divide the spoils of the collapsing Eurozone: Beijing has also sought to invest in Greece's infrastructure and bought up €100m worth of short-term government debt last week the Telegraph reports.
Ironically, it was none other than Germany's finance minister Wolfgang Schauble who said the Greeks are free to pursue deals with Russia and China as they rush to avoid an impending bankruptcy. Turns out the Greeks decided to do precisely as the German suggested, and the outcome will certainly not be to Germany's liking.
The only question following what may well be another masterful stroke by Putin is what will Europe do, now that Putin has in the span of under one year, not only "annexed" Crimea but fully drawn Greece (and the Mediterranean courtesy of Cyprus) into its sphere of influence.
* * *
While we are sure the European leadership will be 'disappointed' at Greece's get-out-of-Troika-jail card thanks to Russia, The Greek people have already expressed their opinion on just who they trust more...
Despite all the western propaganda...
* * *
Finally, for those confused about the flow of funds, here it is:
Russia (Gazprom) gives Greece money, which Greece uses to repay the IMF, which uses the Greek money to fund a loan to Kiev, which uses the IMF loan to pay Russia (Gazprom).
A perfect circle.
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Our military will crash you!
https://youtu.be/iwpy2wtanvU
So let me get this straight:
Russian pensions are 125 $ a month:
http://www.rferl.mobi/a/good-tsar-bad-tsar-complaining-doesnt-always-wor...
"Sirotkina's own pension amounts to $125 per month, half of which is spent on utilities.
With galloping inflation exacerbated by a Russian ban on food imports from some Western countries, she says she is forced to survive on a diet of bread and cheese spread.
Last July, the combative pensioner wrote a letter to Putin and had it delivered to the Kremlin through an aide to the Samara governor.
"No answer whatsoever, and in his speeches either," she sighs."
Greek pensions are 988$ (915 EUR) a month:
http://www.keeptalkinggreece.com/2013/07/03/imf-thomsen-greeks-get-highe...
“The average level of pensions in Greece is 915 euros, when in other countries, such as Germany, the average level is 830 euro.”
And now this poor fu*k will lend money to greeks when russian starve with 125$ for a month - not a day or week but a month. Imagine could you play your rent, food, everything for 125 $ a month? What a crappy economy is Russia.
Well you did see how Russia would be getting the 5 BILL back via Greece-IMF-Kiev...right? So Gazprom isn't really out the money in the end.
Still...I didn't check your numbers but I get the point. But actually, the idea of pensions at all are historically silly. It's all a new 20th c idea for the most part and can't exist much longer...whether it's Russia or Germany or Greece...or the US...or wherever, govs and their corporatist bedfellows could never be trusted to "save' any of this money when they could steal and buy power and votes with it. So this is all money being stolen by older people from younger people. That's just a fact...and the politicians and corporations get to claim they are the ones "doing good" as the middle men creating money out of thin air in the names of the unborn.
So the pension TAKERS in Germany, Greece, Russia...the US...and everywhere are in fact taking from other people their hard earned money. That's not an opinion...that's math and accounting. I don't have to feel any more sorry for her than the young kid who can't find a job because her "pension" is eating all growth or the unbron person who will have it even worse so she could have her...
government cheeeeeze spread! She's actually getting exactly what she should have always expected.
You do realize that things cost differently in other countries right? But on a lighter note. If you are counting on Social Security you will be in the same boat. Our government retirement (SS) does not pay enough for a comfortable retirement either. So, maybe we should not be calling the kettle black eh?
"You do realize that things cost differently in other countries right?"
Are you saying iPad in Russia would cost 10 times cheaper? No! It would not!
Interesting article from RFE. It did note that pensions increased under Putin but skated over that with the bread and cheese spread statement. How many pensioners did RFE talk to? Did RFE ask this person if she wanted to return to the Soviet Union? She would probably say yes, if she were representative of that demographic. The communist party in Russia is largely composed of retirees with nostalgia for the "good old days." Free housing back then, steady food, some medical care (if she could find it), but no ability to complain to RFE about living conditions. In a country that now overwhelmingly approves of Putin, RFE had to really try to find somebody who thought differently. I don't buy that this person is representative of the whole population.
Several Russian leaders are pushing for a stand-alone “internet” with totally Russian content, called a “Patriotic Internet”.
Part of Russian Information Warfare is to prevent a popular uprising by restricting information which conflicts to themes and memes generated by the national information council. Russia believes free thinking and free speech may lead to a colored revolution, which Putin fears. This is one of the few ways in which Russia can control all the information seen by Russians.
Some might view this as Russian mind control.
The West has helicopter parents. In Russia they have a “Patriotic Internet”.
http://top.rbc.ru/politics/13/01/2015/54b538fa9a7947a7e957004c
Draghi has said at the US meeting :
1° Grexit is not an option.
2° The Euro can never be replaced by the Drachma or Lira. Its an irreversible situation.
3° Greece must respect its obligations to the lender insitutions.
4° The decision is entirely in the hands of current Greek government.
Can somebody explain to Draghi that these 4 issues are not compatible. The Greeks have said they cannot pay those obligations beyond 20% and "haircuts" are therefore mandatory. If those haircuts are not accepted Greek has no option but to default and Grexit.
So Draghi has his logic in knots. Either he accepts haircuts or Grexit will occur; unless he eurobands Greek bonds at NIRP !
Now that would have Schauble walk on water! And the banks run for cover!
So Russia is going to give Greece what's needed to fulfill Troika's conditions?
For those intellectually lazy or incompetent trolls on ZH. Tell us when have I ever said anything positive about the cesspools of Washington DC or Brussels? Tell us, were the Russians ever held accountable for the Holodomor? How about "The great terror" and the Gulags? Did they ever make ammends for the occupation of Eastern Europe or the violent repression of the Hungarian and Czech revolutions? Oh that's right never. How about the mass deportations never to return? How about the vast swaths of radiological death across Kazakhstan? When has Russia ever known anything but tyranny or chaos? I'll tell you. Not since Peter the Great. Why did all those former Russian occupied vassel states declare their independence once the Soviet Union collapsed under the weight of its own corruption and incompetence? How many ethnic minorities across European Russia and Siberia are still held under Russian tyranny? You people need to get your heads out of your butts. You are exactly the same kind of people who said that Hitler sought nothing more than to restore German dignity. Sadly the West is thoroughly under the sway of its own batch of globalist tyrants, but that doesn't mean that the likes of Russia and China aren't still determined to carve out their own global empires.
Funny how you from one topic to another jump.
Feel free with increase the drama tells your paranoiac fantasies exhibiting.
Is that first year Russian taught English? Or just obfuscation avoiding the ugly truth about Russian history?
funny how certain guys pop up every time Russia is criticized.
throw the bait out, catch the fish.
you know it.
Why should I continue reading after your moronic first sentence?
thant 5 billion will go right from greece into merkels zion-friends pocket
btw merkels dad is from poland
http://en.wikipedia.org/wiki/Horst_Kasner
you know what that means?
Poor Bulgaria... if all this flies, they lost alll that gas transit money for nothing.
No shit you better git that 5 bill in gold and hide it in the mountains for when things really go to shit.
Moscow can deny this because technically it's true: no deal has been signed yet.
But we all know we can reasonably assume this has been discussed, arranged, negotiated. There was a hint of this back in the Tsipras-Putin press conference in Moscow.
Did a Syriza person leak this in response to May 9 is D-day? Sort of like a fuck you to Troika if you think you cornered us.
Smart play by Putin in so many ways.
A huge opportunity lost for the U.S. State department. John Kerry sleeping at the wheel again as we're letting an ally align themselves with the Russians. The U.S.could and should end the Greek's financial issues with a simple refi of all government debt into a reasonable interest rate. We bought this outcome through our inaction. Thanks J.K!
Nah. president Peace Prizes is giving the cash to Nazi oligarchs in ukraine
Training the fascist army starts tomorrow. Just in time for Hitler's birthday
Syriza is not voting to lift sanctions so why is Putin so accomodating to deadbeats?
There was no vote (in technical terms) so far. Next vote coming up in July. cu
Putin accomodating to deadbeats? I'll tell you: deadbeats of Europe (courtey of the neoliberal gang) are deadbeats with a lot of energy in the SE mediterranean. Deadbeats in UK or USSA are different (clueless). Do not confuse with deadbeats in Yemen, Iraq, Syria, Gaza, Ukraine, Waziristan, or a place near you sometime.
The clue is in the circle described at the end of the article. Russia can replace one debtor with another - only the new debtor promises to be more friendly to Russia. Of course, this only works if Ukraine uses new IMF funds to pay off its debt to Russia. So far, Poroshenko uses all IMF checks to fund either new bombing raids in Eastern Ukraine or a new Iron Curtain on the Ukraine/Russian border.
Putin has never ever been the enemy. He defended Crimea because it really belongs to the Greeks.
https://en.wikipedia.org/wiki/Greeks_in_Ukraine
As a matter of fact this proves that those banksters who control all of Europe (Nato) had it out for Greece because they didn't agree with the disolvement of their own people. As a matter of fact if you read the old testament you will realize that Israel has always hated Greece. So it should come as no surprise that Draghi who works for Goldman Sachs would be sabotaging Greece. Oh and what about the PIIGS? Portugal still has ties to its former colonies like Brazil who by the way is part of the BRICS nations who are challenging the Fed. Spain also has ties to the rest of South and Latin America. What about Italy and Ireland? I admit that I have no idea why the Fed has it out for them but I am sure that sooner or later I will find out why.
There is a reason for everything and everything we think we know we really don't know. Our country is controlled by a cabal who wants to destroy these nations and ours. Why else would this cabal be so interested in illegal immigration in our country but not in theirs. We can no longer trust our politicians because all of them have been bought off. Our police serve them not us so we need to know what is really going on and we need to replace the crooks in Washington DC.
I highly surprise the thing is Putin is swapping Ukraine for Greece. He apparently thinks this is a preferable financial arrangement and a more reliable transit state. However if any one want to learn portuguese please visit http://preply.com/en/portuguese-by-skype.
Hope it might help you for learning.
Are the Tylers overwhelmed by the number and variety of internet attacks on their site,
too disinterested to coordinate an effective response,
or just pissing on the floor in their own house?
This is nothing
Tim Cook just offered them 15% OFF coupons to be applied towards the purchase of any Apple product
And they don't expire until the end of July!!!!!!!!!!!
I freelance over th? internet and earn about 80-85$ an hour. I was without a job for 7 months but last month my paycheck with big fat bonus was $15000 just working on my computer from my home for 5-6 hours. Here's what i have been doing... www.globe-report.com
Are the Tylers overwhelmed by the number and variety of internet attacks on their site,
too disinterested to coordinate an effective response,
or just pissing on the floor in their own house?
"In order to ensure our security and continuing stability, the Republic will be reorganized into the first Galactic Empire, for a safe and secure society!"....Emperor Obolatine
maybe the new Greek currency will be the ruble instead of drachma.
The Rubel is for rubes .... silly wabbit !
Hey, where's Pooty Poot's right hand?
So, the ruble is now the default currency in Europe?
Literally and figuratively.
GW is on life support.
I'm sure the Germans were also briefly loved when they handed them a $150 billion loan. It's when they're asked to pay it back that the Greeks get bent out of shape.
Here's an idea, how about finding a way to run your own country without having to whore yourself out to every foreign power?
nah, that means everyone has to get real jobs and work.
Russia just out flanked NATO.
Simple as that!
And the price was trivial.
Whether they get the money back
or not they still win.