This page has been archived and commenting is disabled.
Greek Default, Deposit Blocks, New Government "May Be Necessary" To End Impasse, Goldman Says
Over the past several days it’s become increasingly clear that the endgame in Greece will involve some manner of political shakeup in Athens.
As we’ve said all along, the troika wants — no, needs — to force Greek PM Alexis Tsipras into conceding Syriza’s election mandate or risk emboldening leftist movements across the periphery. The necessity of remaining resolute when it comes to demanding complete surrender from Athens was made all too clear when recent regional and local elections in Spain showed a groundswell of support for Podemos and many progressive, anti-austerity candidates (we’ll leave aside the fact there was never any real ‘austerity’ in the first place).
Greece and creditors missed a self-imposed Sunday deal deadline and, in what seemed like an admission that discussions have become intractable, Tsipras penned a lengthy statement over the weekend which blamed creditors for the stalemate and warned that democracy in Europe was threatened by those who wish to create a two-tiered EMU wherein weaker nations are essentially governed from on high by the institutions and EU paymaster Germany. Additionally, Syriza’s far-left radicals look set to split with Tsipras, forcing a government reshuffle in order to get a deal passed through parliament.
Today, Goldman is out reinforcing all of the above noting that in the end, it simply is not possible for Syriza to keep its election promises and secure a deal with the troika.
Via Goldman (on the political aspect):
On the one hand, the European authorities are committed to a framework based on three key principles:
- Retaining the Euro requires further economic adjustment in Greece;
- To the extent that this adjustment entails further financial support (which is self-evident given upcoming obligations), that support will only be provided on the basis of conditionality.
- In order to assess compliance with such conditionality, external oversight of the Greek economy is required.
A departure from these principles would not only represent an overturning of the existing process and risk fuelling moral hazard in Greece and elsewhere. It is also simply politically unacceptable in other Euro area countries (those that have made painful economic adjustments in the past, those that face domestic political challenges from populist parties, and those that underwrite the financial risks associated with further support). And a third programme requires unanimity across Euro area member states.
In short, even if the labels change, a third programme for Greece to facilitate the economic and financial adjustments needed to sustain its membership of the Euro area entails a new memorandum and a continuation of the troika.
On the other hand, the Greek government was elected on a platform that promised continued membership of the Euro area but without the austerity, adjustment and oversight that came with the troika programme. Departing from this position requires a change in the political mandate on which the Greek government operates…
Euro exit is a political decision. For sure, the Greek authorities could decide to exit in a unilateral manner. But the current Greek government has no mandate to do so: if it announced an intention to leave the Euro area pre-emptively, in our view the government would likely fall. Moreover, there is no process for Euro exit defined in the governing European treaties: the practical and legal challenges could not be resolved overnight…
Viewed first through a political lens, this situation serves to clarify the choice facing the Greek economy. Under the maintained assumption that the European authorities do not give way on their three key principles listed above, the intensification of the liquidity shortage will demonstrate that the platform on which the current Greek government was elected is simply infeasible: the Greeks cannot “have their cake and eat it”, retaining the Euro but not implementing adjustment. A hard choice has to be made between (a) Euro exit and (b) adjustment to remain part of the single currency.
Making that choice entails finding a new mandate to govern. This will have to be sought from the electorate, implying a new government, new elections or a referendum (or various combinations of the three).
And here’s Goldman on the harsh economic realities facing Greece and its citizens:
The domestic sector with an immediate, direct exposure to the liquidity squeeze is the government and – by implication – those segments of society that rely on it: public sector workers, pensioners, government suppliers and contractors. While the lattermost are feeling the liquidity squeeze as the government falls into arrears on its contractual payments, public workers and pensioners have maintained a privileged position.
Indeed, it is the explicit policy of the Greek authorities to prioritise paying public wages and pensions ahead of meeting external financial obligations.
While the government has access to liquidity, this privileged status confers a form of seniority to the claims public workers and pensioners hold on the government. And unsurprisingly, those parts of society that benefit from such seniority prefer to maintain the status quo rather than accept an adjustment programme (that is likely to involve pension, job and/or wage cuts for public employees).
But as the liquidity squeeze intensifies and cash reserves are exhausted, the seniority enjoyed by pensioners and public sector workers evaporates. Being first in the queue does not help when there is no cash left. At that point, the claims of pensioners and public workers become pari passu with other claims on the Greek government.
The implications of this pari passu status can take several concrete forms. The government may pay pensions using IOUs (‘scrip’). Such bearer claims on the government may circulate in a form of parallel currency. But they will trade at a discount to Euro banknotes if the government is unable to redeem them in ‘hard’ currency – as would be the case in the event of technical default and exhaustion of cash reserves.
Alternatively, the government may pay public workers with cheques drawn on Greek banks. But with the banks lacking access to liquidity, those cheques cannot be cashed – bank deposits would have to be blocked.
Either way, the claims of pensioners and public sector workers on the government are worth less than their par Euro value…
But – as the preceding discussion emphasises – the ongoing negotiations between Greece and its official creditors are intensely political. And forward-looking economic rationality is not characteristic of such interactions.
Not only is it possible that we may need to see technical default and deposit blocks in order to come to a new programme, it may be necessary to do so in order to break the current impasse in negotiations.
As a reminder, Greece’s pension obligations amount to a greater share of GDP than any other nation in the eurozone:
Meanwhile, Jean-Claude Juncker’s official spokesperson, Mina Andreeva indicates that Brussels was not amused with Tsipras and his Hemingway references:
Ouch: 'What matters more than op-eds are concfrete reform proposals', says @Mina_Andreeva of Tsipras comments
— Danny Kemp (@dannyctkemp) June 1, 2015
And it now appears there's further dissension within Syriza as the radial faction doesn't seem to think the appointment of a pro-bailout representative is appropriate under the circumstances.
Via Reuters:
Greek Prime Minister Alexis Tsipras faced a backlash on Sunday from his leftist party lawmakers over the government's pick for the country's representative at the International Monetary Fund, the latest issue to deepen divisions in the ruling party.
The rift was triggered by the choice of Elena Panaritis, a member of Greece's financial crisis negotiating team and parliamentary deputy for the center-left PASOK party from 2009 to 2012, to replace Thanos Katsambas at the IMF.
In a letter sent to Tsipras on Sunday, some 40 deputies from his anti-bailout Syriza party opposed Panaritis' appointment and asked for it to be withdrawn. They said her views conflicted with the party's program since she held a post at PASOK when it supported bailout policies.
"A prominent representative of bailout policies cannot represent the government," the lawmakers said in a letter published on a Syriza-affiliated website. "It's not a symbolic but a political issue. It's a wrong decision and we ask that it is taken back."
As if on cue:
Greece’s appointed representative at the IMF Elena Panaritis says in e-mailed statement that she can’t accept post amid negative reactions from Syriza lawmakers.
We'll close with a quote from Germany, where the political will to negotiate is quite clearly exhausted. From German spokesman Steffen Seibert:
"Summarized in a sentence: Greece must agree a comprehensive reform package with the three institutions."
»
- 23222 reads
- Printer-friendly version
- Send to friend
- advertisements -
All your Souvlaki belong to us.
The swirling toilet bowl graphic of euro-Ponzi is a thing of beauty.
Greeks, don't let Goldman run your country! Default on bull shit debt, re-structure all debt, re-issue Drachma, re-start economy, re-start tourism, and never, ever, ever again let someone else run your country for you.
The Greek "leaders" need to lay the cards on the table. Whatever happened to true transparency in government?
I think more than a few would be surprised about the route the people would take. Do the Greeks really believe the rest of Europe is going to pick up their tab?
Let the Greek people decide and take whatever shit medicine that's heading their way inevitably.
"We will need to install a new government, OUR government, in order to recommence feudalistic, bankster-driven wealth extraction form this country. Invading it would be too obvious in this case, unless we can get "terrorism" going maybe.
Locating Al-CIAda training camps in Athens in 3...2...1...
Democracy is dead in its birthplace.
the troika wants — no, needs — to force Greek PM Alexis Tsipras into conceding Syriza’s election mandate or risk emboldening leftist movements across the periphery
The problem with democracy is that the people always want to elect leaders the elite don't like. I mean, it's almost like the people somehow KNOW which leader will be anti-elite, like they can actually THINK, or something. It's uncanny.
But this unfortunate aspect of democracy makes it ill-suited as a government style in the NWO. It will just have to be scrapped.
We really prefer the philosopher king model, but if we can't have that, we'll settle for a totalitarian dictator, corrupt oligarchy, or imperial vassal state as second choices.
Democracy has many enemies, and among them it's those who claim her as theirs
fact is that Syriza did not win a majority in the Parliament of the Hellenic Republic, and governs in a coalition with a small partner party (which is by far not on "the Left")
fact is also that Syriza itself is a very young party, with two major "wings", or "factions"
Syriza just chose the wrong coalition partners is all.
No election is needed, just a new coalition further to the left.
the only party to the left of Syriza is the Communist Party of Greece, the KKE
come on get this shit over with
negotiations will continue until all sides are exausted by them, not before. watchers, bystanders, etc. are not included in this
Goldman "mistakes" bank register and ATM liquidity with state liquidity. It's the bank clients' money and if they want them they should be able to get them. Greek banks are Greek only in name now, they all belong to the ECB and this makes their liquidity problem an ECB problem. If Greece defaults tomorrow then its debt carries on, since the creditors made sure it was transformed to British law. But if "Greek" banks default on their 100+ billion TARGET exposure then it's ECB that has to write it off. Not the Greek state. Check-mate Tsipras. Why should he impose capital controls? The more cash the Greeks walk away with from an ECB-controlled bank, the better. And if they default, all banks would be bankrupt and the population would at some point in time return THEIR cash in THEIR new banks.
Syriza and KKE together makes 164 seats out of 300.
Let's be brutally honest ... Democracy is the very anti-thesis of Freedom.
Once you accede to voting, you renounce all of your Property Rights to the Collective.
Fuck, yeah ... Democracy is a stinking system.
"...Democracy is dead in its birthplace..."
Democracy was only the tool usurped to fill the government with psychopathic greedy bastards.
The nice thing about democracy is that - as much as the criminal leaders like people to think otherwise - it's choices are not immutable supreme and eternal law. People are free to change their minds. The fact that a government has come to power through some type of democratic process does not mean that government is desireable, useful, or representative. They just won a popularity contest.
Fuck the entire Greek government - it is a foreign corporation that is separate and distinct from the Greek people. It has no rights superior to the Greek people. It is not exempt from morality or the law. If it was taken over by greedy oligarchs who ran it's credit cards up to the limit and beyond, then the Greek people can throw it in the garbage. The Greeks ultimately get to declare who or what there government is and they can fire the one they have at any time. Fuck the 'political parties' in Greece - those are tools of the broken government. They are irrelevant for whatever future governmet the Greeks choose.
As far as the debts of the former Greek government - those are the debts of a foreign corporation, not the debts of the Greek people. The Greeks have ZERO legal or moral responsibility to repay them. Bankers be warned - don't be so fucking stupid to lend to a supposed government next time.
Agreed, I thought Goldman only ran the US Government. They obviously can't find a way to screw Greece more with the existing Government in place. Doing God's work dosen't include telling Soveriegn States how to manage their affairs...
It has been the globalists' strategy all along to ignite a "people's revolution" in the EU. Here is their overall plan: http://redefininggod.com/2015/02/globalist-agenda-watch-2015-update-19a-...
"and never, ever, ever again let someone else run your country for you."
This is the heart of it. Are there countries anymore, and does that label have any meaning? We are in the crucible of the multi-decade push for 'multiculturalism' and 'globalization'. In effect, those two terms are leading to a greater and greater centralization and concentration of power into fewer and fewer hands globally. Power corrupts, etc. We desperately need to stop this process. Human spiritual growth and creativity are dying around the globe (along with all the natural systems that support human and animal life on the planet) directly as a result of the above concentration of power. Can we stop it? Looking at this with a historical timeframe, there's not much time left to find out.
Right on Anthony, another bullshit fake news article on zero hedge pushing financial establishment agenda, lately ZH has been making it a habit , but hey manufacturing news does not work the way it used to anymore, no-one is listening to MM and discredited financial institutions many with criminal convictions against them .
Yea, what an arrogant bunch of scumbags. Greece has a lot culpability in the issue but the slave masters knew what they were doing and what they are doing to most of the marginal European countries. This is all about control. You don't lend money to people who are obviously a bad risk without an agenda. Now you're hinting at toppling the elected government? Shades of Ukraine, I wonder what puppet government they have already lined up. FUCK YOU ALL YOU SOB BASTARDS and I mean that in the most endearing way.
I need a gyro.
Soon friend, you'll need a gyrocopter ... especially if you live in the city.
Sounds like a threat to me. A new government with a Goldman at its head.
Didn't they already do the trial run in Italy?
Yeah the window repair and nail gun business has been steady since. Although in Italy break failure in fancy cars and planes falling out of the sky is more common. They haven't been very lucky at all, got a feeling it's not going to get much better for them.
Working great over here in Murrica. How many Fedsters are part of the Sack?
Let's see here. Goldman wants a new government, and I suspect they want an ex-Goldmanite to head it. Goldman is a counter-party to Greece, and has a lot to lose should they start defaulting. I wonder if the SHTF in a bad way, will cause Greece to spill the beans on all the Goldman deals that used to hide the actual debt.
Goldman committed a crime to get Greece into the Euro in the first place--correct?
If you helped create the situation, know factors not commonly available, it is a position of strength.
Not easy, but in a better position to front run the tsunami.
Do this in a spread of a hundred different sectors and you too could wear the robes with the name J.Dimond or L.Blankfein embroidered on them.
Wasn't it Nixon who said, "it's not a crime if Goldman Sachs does it".
I dare you to default!
I dareeeeeeeeeeeeeeeeee you!!
Well, I triple-dog-dare them to default.
NOW it was serious. A double-dog-dare. What else was there but a "triple dare you"? And then, the coup de grace of all dares, the sinister triple-dog-dare.
Certainly the Greeks people aren't qualified to elect their own government
They dupe us into making poor choices from a relatively short list THEY present us, and then when that choice proves a failure, use that as further proof of our stupidity and need for the "elites" to step in and make our decisions for us. As constructed, failure is our ONLY option.
My popcorn is getting stale.
Get the show on the road already!
A Greek or Spaniard will never be a German. Long live cultural diversity.
I don't believe in german's higher moral code... There was a technical problem, i.e. interest rates too high given german's inflation, but too low given inflation in Spain or Greece. Price repression in the former (and no asset bubbles), huge credit expansion in the latter (for government and private citizens) leading to asset or govt unsustunable expansion. In the last couple of years, Germans have recently discovered the joy of real estate prices going up, so it's likely they will also experience the hangover later...
......Greece, like the rest of us, who for whatever reason continue to submit to the illusion that has become our "reality" will continue to suffer incomprehensible misery until we rid ourselves of the tapeworm that has infested our society...... sorry kind of borrowed that one from C.A. Fitts ..... but a better description of TPTB I have never heard...
Catherine Austin Fitts explains the overarching structure of our current reality.......
https://www.youtube.com/watch?v=w0mimIp8mr8
I love it when ZH calls out the Goldman Sack.
And Greece is Goldman's fault! They were the ones who cooked the books so Greece would qualify to join the EU when they had no busines doing so and everyone knew it.
So where does GS get off telling the Greek people they need to install a puppet government that is compliant so the Bank of Zion gets 100% of their bad bets back? Unbelievable.
The nutless Sack.
A shake up .... ah, I get it .... a "Circle Shake" .... (circle jerk in Rio Linda) !
"...it simply is not possible for Syriza to keep its election promises and secure a deal with the troika."
Okay. So keep the election promises and screw the troika.
that's a matter for the elected Greek Parliament, not the Tsipras Cabinet. where it could mean a split into two of Syriza itself, and a completely new coalition (or new elections)
it's easy for Tsipras and his ministers to say: "we have the mandate", but the mandate belongs to the 300 elected Members of Parliament, not their appointed government
"...mandate belongs to the 300 elected Members of Parliament..."
So let them take a vote on it. Re-introduce a greatly devalued drachma that will be very painful at first but increase tourism, exports and jobs - or make deal with the troika that kicks the can down the road again. I'd bet that the 'screw the troika' mandate beats the 'stay in the euro' mandate.
and what gives you the impression that such votes would find 151 Greek MPs willing to listen to Dr. Krugman?
I don't read Krugman. I read Mish.
it's more complicated than that. What would you say if a state gouvernor is elected by promising to distribute money funded by state deficit. Afaik, the latter is not allowed by the Constitution, so what do you make of this promise ? Balanced budgets are mandatory, so screw the electorate, or electoral promises must be kept, so screw the constitution ?
Greece had signed binding treaties and agreement before the vote, but Syriza said they wouldn't be bound by these treaties. So where is the legitimacy, here ?
Sophistry. Those so-called binding treaties were,signed by an illegitimate bankster-controlled government. Papademos sure as shit wasn't representing the Greeks' interests.
Market likes it.
how much? that's what I ask whenever someone starts to talk about taxes and how to use taxes but refrains from using... math
as a reminder, the "Tax Burden" in Greece is very, very average, in the OECD statistics: 33.7%
the total tax revenue of the Hellenic Republic is around 65 billion per year (GDP is calculated around 192 billion)
the whole fight between the Tsipras Gov, the "institutions" and the creditors is about how much primary surplus
from 4% of GDP (the creditors) or way, way less, for example 1% of GDP (don't remember who brought that number out of the Tsipras Cabinet)
the first would be 7.7 billion, the last would be 1.9 billion (of course, Varoufakis would prefer to do a -20 billion, this year, but that's a different story, and he would need someone to lend them)
(so that pensions obligations at 16% of GDP would be some 31 billion)
(source: OECD stats for 2014 http://www.oecd.org/ctp/tax-policy/revenue-statistics-and-consumption-ta...)
23% VAT tax is average?
it is slightly above european averages, which are around 21%. see http://en.wikipedia.org/wiki/Tax_rates_of_Europe for a complete overview
(in the US, you have a completely different tax structure, btw, but the total burden is not that far out of the OECD averages)
the OECD "factsheet" summarizes the Greek situation as such:
"The structure of tax receipts in Greece compared with the OECD average is characterised by:
Higher revenues from taxes on goods and services, and social security contributions.
A lower proportion of revenues from taxes on personal income and corporate income.
Taxes on property equal to the OECD average.
No revenues from payroll taxes. "
The easiest way to tell if taxes are "fair" is if the people will willingly pay them. Sure there are always a few cheaters who wouldn't pay any taxes, but in a consumer economy, people LIVE to spend money, and there is no reason to think that paying taxes is any less "spending" than anything else. The difference is that people paying taxes that go to someone else's benefit, has no long term support. That is why Europe has so greatly embraced VAT, as it is completely hidden...no line item on your receipt...all in the "costs". They have done everything they can to hide, bury and obfuscate taxation while trying to make everyone believe it is only everyone else who is paying...not them. When the citizens do realize their folly, they do as many in Europe are now doing and evading the tax when possible.
America's greatest barrier to complete domination is the fact that so much of their revenue must come in the form of direct income taxes which even with employer withholding, is easy to see. For the US to enjoy the same success with redistribution as Europe, they will need to hide more of their revenue sources. Its always about getting someone else to pay.
The share of pensions in GDP is not telling. I doubt that the pensions are really outsized as it is often suggested without providing any proof for the allegation. It seems rather the GDP is insufficient since the Greek society did what every family does on free lunches: eat a lot. To replace consumption financed by debt expansion with consumption financed by proprietary value generation is a very long lasting process. I do not think that the Greek society has understood what it takes. This understanding will only come about in a situation of independency, self - responsibility and self - sufficiency. Unfortunately the EU is not likely releasing Greece into independence.
LOL "The government may pay pensions using IOUs (‘scrip’). "
As if Euros and dollars are not simply "scrip". Yeah those banknotes really have a lot of inherent value.
Interesting concept issuing notes of debt promising to pay notes of debt.
those banknotes DO HAVE INHERENT VALUE - the goods and services provided by the citizens of those countries who accept euros/dollars as payment for their work
Tsipiras should go the Caligula route and rent out the parliment members wives.....
Not just the wives but the Parliamentarians themselves as well, That's 100% increase.
THEY ARE ALL OF THEM WHORES.
Springtime, for Goldman and Ger-man-ee!
As the German Bund continues to collapse, the effects will be felt all over Europe. Greece's problems are the same problems the rest of Europe is experiencing-- it's just the rest of Europe looks better by comparison. But they're not. Rising bond yields will be the straw that breaks the Euro-donkey's back as the UST 10 YR exemplifies...
http://www.globaldeflationnews.com/10-year-u-s-treasury-index-yieldellio...
please explain what exactly you mean with "As the German Bund continues to collapse...". Are you talking about yields?
How many Vice Presidents does Goldman Sachs have? One each to run every country? No wonder The Hamptons is getting so crowded! :^)
no, one for each tentacle
Cthulhu has many tentacles. :-)
Goldman Sachs has 32600 employees. More than one in three of them is a Vice President.
http://www.quora.com/How-come-Goldman-Sachs-has-12-000-VPs.
Vice President = Salesman. :-)
'As a reminder, Greece’s pension obligations amount to a greater share of GDP than any other nation in the eurozone'
Yes genious, that data is from 2012, which is AFTER the Greek economy was destroyed, after a very large number of public sector workers decided to retire with reduced pensions because of talk of being denied the chance after troika got round to it, after GDP took a nosedive courtesy of the troika.
This is like carpet bombing a town and then decrying the citizens for living in rubble. What the hell.
Here is OECD data on average retirement age: http://www.oecd.org/els/public-pensions/ageingandemploymentpolicies-stat...
And some more data courtesy of WSJ: http://blogs.wsj.com/brussels/2015/02/27/greeces-pension-system-isnt-tha...
Stick to reporting dear Tyler, color commentary isn't your thing.
"carpet bombing a town and then decrying the citizens for living in rubble" = SOP.
"Out of chaos, order." (But first, of course, it is necessary to CREATE the chaos, because chaos is NOT a natural condition.) :0)
If you need more than 5 frickin' years to get your plan to work, your plan sucks balls.
Yes.
(Or perhaps your actual plan was something quite different from what you publicly announced it was.)
(P.S. I think we MIGHT be talking about Syria, but Iraq or any of the Arab Spring Revolution countries also come to mind. In fact, perhaps the "success" of the Arab Spring actual-but-not-publicly-announced plans was what has been encouraging TPTB to keep going after Syria. Sometimes I wonder whether TPTB would prefer a world of tribal feuding, as long as their oil wells could be guarded by well-trained mercenary companies from damage from that feuding. That way TPTB wouldn't have to pay off local rulers/governments, which would lessen their costs, which would help increase their profits. It's not personal; it's just business. If YOUR children get killed in all that tribal feuding, well, then, that's too bad, but it just goes to prove how "tribal" and therefore "bad" you and your kind are.)
"As a reminder, Greece’s pension obligations amount to a greater share of GDP than any other nation in the eurozone:"
And to add, completely left out context. Overall spending on social was AT EU AVERAGE. And that was during the good times, now for sure it is below EU average. Greece for a few reasons, one being demographics, spent a larger proportion on pensions as the WSJ article alludes to.
So any chucklehead can take part of the overall picture and make a misleading point.
what GDP? the one inflated with deabt? are you defending the stealing thiefing public workers? they should all burn in hell...... they use the rest of the country as their property to secure higher wages and pensions for they never laid off asses...
Yeah I agree new government is necessary we need to start with removing the board members of Goldman Sachs for starters.
I'd pay to see ZH organize users to buy just enough stock to be shareholders entitling them to be present at shareholder board meetings. Carl Icon takeover Union style with lots of people buying smallest possible (least risk exposure) stakes in these companies.
By proxy or by bullet.
Another coup d'etat by Goldman. We all predicted a few months ago that there would be a United Fruit Company kind of episode.
A NEW Greek Government?
Yes ... something with a flavor much more extreme.
It is time for another Iceland....
Then start hanging Banksters...
Where the fuck is it written that an investment bank decides on people's governance?
The fucking audacity.....
any person can buy euros and de facto personally become part of eurozone
truth and reconciliation commitee will be needed
coming out of the closet for them all
one can understand years ago the gay hiding his perversion.
physical assault blind hatred self loathing.
with open sodom divercity forgive the spelling that has all gone.
look elton john adopts kids satanists like angelina jollie as well.
it is time for the jewish to stop hiding behind the the odd anglo saxon,celtic or italian rome names.
be proud jewisher like the gayman.
you are not a race like isis you are an idea we have to except super success full.
but not a race not chosen not special just the biggest mafia on the block.
al pacino,deniro,coppola marty 2 always thought something not quite italian about them.
look at als new film collins look at the poster pluck him will he not bleed already.
no doubt this firm not race run the show agents everywhere time to stop hiding behind silly normal names.
embrace your pole and lithuanian,russian gulag mongrel past.
you won the banker wars you can afford it now.
where your star of david badge now
represent your saturn satan soul energy wrangler role
come on kerry release your kleinfelt
already
as for greece well goldman advised to begin falsified the country accounts so they know best and they are zionist royalty
clearly syrizia are not looting the country quick enough for the cohen
Simply genius. Well done sir.
Beware of Greeks bearing gifts
Beware of Goldman Sachs offering financing options.
"Waiting for Godot" - the story of the Greek debt default.
Fuck Goldman... their backroom dealing is a big chunk of this fraudulent, odious debt. Greece should invite in chinese and russian ships and troops, repudiate, leave the EU, and sue Goldman.
A new government might be necessary ...........One government run byt the idiots from Goldmans Sachs ? So that the Looting of Greece could re start , what was done in the past is not enough ! ah,ah,ah,
They need a new government that will issue arrest warrents for Lloyd Blankfein and Jamie Dimon.
first, Democratically, we elect a 4 year term government that degenerates into a stealing and plundering band of criminals stealing and plundering the universe in the name of crony capitalism to keep everyone happy... then when the next government brings the bill home we say Fuck off in the name of Democracy and elect a new government with the opposite mind set...... Ain't Democracy a great invention?
Concrete proposals, or concrete boots?
Alexis Tsipras is a fucking blowhard.
Now he threatens the EU.
He borrowed that gambit from Mel Brooks.
https://video.search.yahoo.com/video/play;_ylt=A2KIo9TCcWxVkEEAXF_7w8QF;...
Do the bankers understand that their next negotiating partner in Greece will be Golden Dawn?
Goldman recommends New Government. Well, the traditional US method here would be cruise missiles followed by invasion force, in order to rid the world of another WMD -- Weapon of Mass Default.
Why would the government fall if they left the Euro? This is globalist propaganda. A strong case can be made to the Greek voters that of the options on the table, Grexit/devaulation is the least painful (and this would be relative) path to a sustainable future. Any future outside the Euro would be brighter from a perspective of self-determination. Greece is, in many ways, the seedbed of democracy. Greeks, remember this, remember how your grandparents faced the Nazis. Rise.
Seriously, the Greek government needs to be thinking hard about a very quiet, very big bet against their own debt. Fuckin' get rich off the banksters!
"Government shake up" Goldman?
You mean a "colour revolution" right? Put in a new government who will continue the debt slavery under transnational control?
I think the Russians have that covered, you perhaps need to reconsider your perspective, you could get humiliated.
Wind up Goldman Sachs First