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Tsipras Plays Putin Pivot Card; Tests Parliament's Patience On Troika Proposal
Greece was scheduled to pay the IMF around €300 million today. Athens will not make the payment.
On Thursday, the IMF acknowledged that Greece had indeed requested that its June payments to the Fund be bundled, buying PM Alexis Tsipras valuable time as he makes one final push to strike a deal with creditors that bears some vague resemblance to his party’s campaign promises. Whether or not he will be successful remains to be seen. It’s entirely possible that the PM’s defiant position on pension and VAT “red lines” is only possible due to the extra negotiating time afforded by the combined IMF payment option. The troika likely knows that if it can hold out for another few weeks, Tsipras will have no choice but to make painful concessions — the onus will then be on the PM to push the deal through parliament.
Speaking of parliament, Tsipras will address Greek lawmakers on Friday and as The New York Times notes, it is not likely to be a cordial affair:
[Creditors’] demands prompted angry reactions from several government officials in Athens on Thursday, underscoring the difficulty Mr. Tsipras will have in gaining parliamentary support for any deal that is reached.
Syriza party hard-liners have suggested in recent days that they may dissent if Mr. Tsipras strikes a deal that they consider a violation of the anti-austerity pledges that brought the party to power in January. The junior coalition partner, the right-wing Independent Greeks, has also said it would not back further austerity.
After details of the plan were leaked, the rhetoric in Athens got heated.
In Parliament, the labor minister, Panos Skourletis, referred to an “undeclared war” that he said was being waged “by modern capitalism.” In comments to Greek television on Thursday, Alexis Mitropoulos, the deputy speaker of Parliament and a prominent lawmaker of Syriza, accused Mr. Juncker — who is widely perceived as friendly to Greece — of “delivering the most vulgar, murderous and tough plan when everyone was looking toward the negotiations closing.”
As noted previously, some manner of political shakeup is still more likely than not in Athens as Tsipras will ultimately be forced to accept a deal that party hardliners will not concede to. RBS has more on the political risks associated with the negotiations:
Elections now appear very likely. Either PM Tsipras will opt to force through measures demanded by creditors, likely triggering a collapse in parliamentary majority, or go to polls now.
The risk is that Syriza may seek people’s mandate to return to drachma.
See 60% probability that deal is accepted, with elections likely after implementation, and 40% chance that govt goes to polls before a deal is signed.
In latter scenario, forecast 50/50 probability that events ultimately trigger euro exit.
And here’s some further color on the Greek counterproposal from Eurogroup chairman Jeroen Dijsselbloem:
“Apparently [bundling is] an option IMF has offered earlier. That’s an example and that’s why this possibility is offered to Greece. If they come up with alternatives on our proposal, it should be financially correct and wise from an economic perspective. We’re waiting for their reaction. We were hoping to get it by today, but I still can’t tell. I’m not sure either whether this meeting will go on today. We’re in a process of coming up with a plan to get Greece back on track which makes them stronger from a financial and economic point of view. They’re far away from that and they’re threatening to get even further away from that. This cannot be achieved with just nice measures but it also requires unpleasant measures, that’s something the Greek government will have to recognize.”
Meanwhile, in Berlin, Angela Merkel continues to face pressure from her Christian Democratic bloc to abandon support for Greece and there are now rumors that German FinMin Wolfgang Schaeuble and the Chancellor may have had a falling out over the course of the week, with Schaeuble only learning of emergency talks by accident through IMF chief Christine Lagarde.
Via Bloomberg:
German Finance Minister Wolfgang Schaeuble wasn’t informed about a confidential meeting between Chancellor Angela Merkel, IMF Managing Director Christine Lagarde and ECB President Mario Draghi on June 1, Bild-Zeitung says.
Schaeuble learned of the meeting by chance through Lagarde Bild cites unnamed high-ranking Finance Ministry official as saying that Merkel acted unilaterally.
Bild says there’s concern among lawmakers in Merkel’s Christian Union bloc that Schaeuble would quit if Merkel undermines his tough stance on Greece
Schaeuble would not agree to a “rotten compromise” on Greece as that would endanger his credibility, Bild cites CSU lawmaker Hans Michelbach as saying.
Without Schaeuble, the Christian Union bloc wouldn’t back any aid for Greece, Bild cites Michelbach as saying.
The German finance ministry has denied the split.
Finally, in what is perhaps the most definitive sign that talks between Athens and creditors have reached an outright stalemate, Tsipras is once again playing the only card he has left: the 'Russian pivot.'
Via Bloomberg:
Greek PM Alexis Tsipras, Russian President Vladimir Putin to hold call at 1pm Athens time, a Greek govt official says in text message.
Tsipras, Putin to discuss Greek PM’s visit to Russia where he will attend St. Petersburg Economic Forum June 18-20: official
Leaders to discuss cooperation in business, energy: official
As a reminder, Greece has indicated it is prepared to sign an MOU regarding the construction of its portion of Gazprom's Turkish Stream pipeline, and previous reports suggest it's still possible that Athens can secure a loan from Moscow against expected future profits from the two countries' energy partnership.
* * *
Ultimately, all eyes will be on Greek MPs as the market attempts to gauge how much leeway Tsipras has in terms of concessions he can make without throwing the country into political turmoil.
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tell me when greece tells the EU to go fuck itself, starts printing debt free drachmas, and says that they wont pay a penny of the debt
Tsipras Plays Putin Pivot Card
If mommy won't give you any allowance money, maybe daddy will.
FRIDAY, JUNE 5th: Putin holds phone call with Tsipras, agrees to meet in 2 weeks in Russia
Maybe Wolferl will get his way and finally stfu.
Throw those pathetic Greeks out of Europe already. Let them crash hard into the wall. Throw them under the next bus. It´s the only way those Greek deadbeats will learn to lead a responsible life within their means and how to act and behave in a community of first world countries. No mercy, no indulgence for those Greek liars, cheaters and blackmailers. Throw them out.Needs moar 'all caps'.
I wonder if Wolferl could get away with saying the exact same thing about the Jewish state needing to be kicked out of NATO? The discrimination policy seems pretty flexible, no? Just sayin'...
Same thing with all of the countries, quit buying their debt!!!
Those pathetic Germans of Europe. It matters not that they have crashed hard into the wall, not once but twice, in the last 100 years, incinerating all of Europe in the process. How is it we don't throw them under the bus. If only those Krauts would learn to lead a responsible life, live within the bounds of commercial sanity, and act and behave as a responsible member in a community of first world countries. No mercy, no indulgence for those German mercantilists, bankers, and workaholics. Throw them out. They will never learn. Their inhuman mechanistic society is a cancer on life.
So Wolferl, how do you like them apples? You nazi piece of shit.
P.S. Three of my grandparents were born and died in Germany and Austria. Despite all that is good and valuable in German culture and heritage, there is this interminable worm that comes rotting the apple. You are a disgrace!
Jew, i presume?
Lutheran at birth, actually. Pan/Atheist by 67 years of experience. Thank you so very much for showing your true colors. I no longer have need to read your commentary. You are precisely as I supposed!
Let them eat cake!
>>> tell me when greece tells the EU to go fuck itself, starts printing debt free drachmas, and says that they wont pay a penny of the debt
As soon as they do that they will have the parliamentary support of KKE and no need to hold elections. The only problem with that is that the West is likely to hit back with a military coup d'etat unless precautions have been taken.
It wouldn't hurt for them to agree to combat illegal immigration, either.
That is the only reason the creditors put up the money
Obviously the only solution is someone is going to have to launch a missile or set off a bomb.
Sadly, that is the most likely outcome. With the usual culprits.
Is anyone as excited as I am watching the upcoming elections in Greece as SYRIZA has to eat crow, and New Democracy can run with the SYRIZA card from January?
I can see it now;
SYZIRA - Vote for us to end Austerity, but we have to go back to the Drachma
ND - Vote for us to end Austerity & we can keep the EUR
GD - Vote for us to end Austerity, go back to the Drachma, and we deport all brown people to Italy.
IG - What in God's name is going on?
PASOK - Oh Good another election. Everyone give us money. My kid wants a new Porsche.
Greek Commies - Free stuff for everyone. Eat the rich.
lol. I do not think the leaders of those parties would agree, but it's funny
I hope you are not proposing that Greeks ought to be given the option between two political parties only? If so, what would the options given be?
new elections are not a given and might not even be necessary, but that's only an opinion
No, definitely not. The two party system sucks. I am just making fun of the political shitshow going on in Greece at the moment.
I think worst case scenario for the EU/EMZ re; Greece is Syriza's moderate center caving and attempting to pass a bill which continues austerity. The lose support for their Left flank and the government collapses and SYRIZA is split in half. You have ND which would be the front runner, then you'd have the new SYRIZA, which is essentially the new PASOK, the Leftwingers who want to go back to the Drachma duking it out with Golden Dawn, who also want to go back to the Drachma for place 3, the Independent Greeks who also want to go back to the Drachma in place 4. PASOK will get monkey hammered again, as will the Greek commies and that oddball other Leftwing group that calls themselves a political party.
I am a fan of democracy. If the Greeks want the EUR so badly that they will put up with austerity forever, then good for the Greeks, let them have at it.
I'll start vacationing in Turkey & Croatia instead.
that's another word, imho, which only confuses matters: Austerity
it's ugly, and reeks of the pain it causes, yes
nevertheless, what is really being asked from Greece is balanced budgets
And what the Tsipras Cabinet would prefer is a big package of money for reforms more attuned to their preferences
the period between 1999 to 2014 302,7 billion has been spent for pensions of government workers not counting salaries accounting for 37% of total public spending of that period...
the period after 2014 that figure someone would expect to be lower do to recession. On the contrary that figure climbed to 38% of total public spending...
clearly Tsipras is giving a fight for continuation of the status enjoyed by the corrupt system that brought the country under...
this system responsible for bankrupting the country is still untouched and is the same system that puts up a fight today with its left head...
Public spending may have contributed to insolvency.
But the bigger effect is that of klepocrat banksters helped along by corrupt governments and Goldman Sachs.
Pray Tell. What do you imagine the percentage of pubic spending on pensions would be if the Greeks actually paid taxes? Maybe, just maybe the pension spending wouldn't look so bad. But if I were one of the oligarchs who didn't pay taxes in Greece because of my tax planning, avoidance and fraud then of course I would complain that pension spending is out of control.
the period between 1999 to 2014 302,7 billion has been spent for pensions of government workers not counting salaries accounting for 37% of total public spending of that period...
the period after 2014 that figure someone would expect to be lower do to recession. On the contrary that figure climbed to 38% of total public spending...
clearly Tsipras is giving a fight for continuation of the status enjoyed by the corrupt system that brought the country under...
this system responsible for bankrupting the country is still untouched and is the same system that puts up a fight today with its left head...
I disagree. The troika only wants to see austerity for the middle class and poor and nothing else. Greece is in a state worse than the Great Depression of the US and the troika wants them to continue taking measures to prolong and worsen the depression. They won't let the government touch the rich. At least not yet. I've heard that is the m.o. of the IMF. They make friends with the elite, steal everything they can get from a country, and on their way out of the country they might turn against their rich friends too.
"They won't let the government touch the rich". Heavy allegations, there. any evidence besides hearsay?
Ghordius, I am curious. Do you hate the Greeks as much as Wolferl? Your commentary to me seems disingenous. Do you believe for a second that Tsipiras and the Greeks would not jump at the offer to balance the Greek budget if Brussels and Frankfort would consider some significant debt forgiveness that could provide enough oxygen for the economy to function again. And the word 'forgiveness' is grossly misleading since 92% of the debt has gone to bail out Europe's predatory banking industry, much of it German.
Is it so convenient to recall how German war debt was substantially forgiven by the Allies after World War II? Why the Greek disconnect?
And why this dishonesty? The Greeks were had by their own hubris, yes it is true. But they were entirely egged on by the Europeanists so eager to create a unified market among heterogenous populations and distinctly different cultures. The Euro is simply non-functional in its design. You cannot consolidate the currency without consolidating the debt. This was openly discussed during the creation of the new currency and it was determined that since it was not politically feasible to do so at the time, it would be dealt with at a more propitious future date. Well that date has never arrived, and in the interim the mismatched economies of Europe have become even more so. EVERY ONE KNOWS THAT GREECE CAN NOT PAY ITS DEBT!
Now that the outrageous level of debt that Greece owes has become mathematically impossible to be repaid, the Greeks are offered a single choice of being a vassal state at the mercy of others, dictated to do as it suits its neighbors and their corporate elites. And following that Democracy be damned, and we are seing manuevered political coups as needed, and presumably ultimately military rule if necessary. Is that what the great pan-European plan has become?
The Euro is destined to collapse as a consequence of its misdesign, all prayers and wishes to the contrary not withstanding.
Excellent commentary. True! Pulled apart by the rabid misanthropes that dominate this pyramid we call life. Debt money must promote itself or die, and it will never die, it will have to be killed. Greece has been dejennerized. I am still waiting for "whom the bell tolls"? Ghordious and werful have moved on to shallower waters.
No, he doesn't hate the greeks.
He is just clinging on to the status quo for dear life of his worldview - as otherwise he would need to admit he had gotten fooled over decades.
And then when called out on it here, he tries to re-declare his statements as irony or sarcasm.
The usual.
I prefer Hrvatska (Croatia) for vacationing over Greece, hands down.
Been going there for years: Better food, better wine, much better women, and driving distance from Frankfurt or Munich. Which means you'll also get of people from central and northern Europe.
The only down side is that you may have to deal with entitled Germans, instead of entitled 'Mericans, who don't tip like Americans do. Cheap Krauts! ;-)
We were in Santorini a few years ago and restaurants wouldn't seat Germans.
Good post, Haus. Which begs the question: When will the US get more political parties?
Or does it not matter, given the absence of a Parliamentary system and the presence of a hijacked MSM?
I always thought that "Where there's a Will, there's a Way".
You can bet the Syriza party literally grew by thousands or perhaps tens of thousands indigent socialist immigrant voters, taxpayers are much harder to grow.
I don't know Vince, I think Tsipras may be playing daddy against mommy. The news states that Merkel and her FinMin are at odds and I think the real reason is because Merkel sees the danger of pushing Greece right into Putin's waiting, open arms.
It may be a stretch, but I think Tsipras has found an angle and that angle is US/EU Putinphobia. If he hints at dropping the EU and coming to terms with Putin backing some of Greece's debt in exchange for Russian ports and energy hubs, his door will be beat down with loan forgiveness offers from the EU and most likely the US. You know, because the US does god's work, and god would never let (a russian port be erected in Europe) Greek civilians starve...
Strictly my opinion. This is assuming that a head of government has any wit, which may be a huge mistake on my part...
And to go fuck all the Greek exporters that export their goods to EU? Unless Russians opens their market or Greece joins their union, the default will be painful to say the least. It's easy to say fuck you all but everything has consequences. There's a reason why polls show that greeks want to stay in EU.
Free movement of people and goods...
the Four Freedoms of the EU: free movement of goods, services, capital and people... inside the EU. Politically, in the category of "Grand Compromises"
But capital and money are distinct (granted I haven't bothered to read the entire labyrinth of EU treaties in English, French and German - but this is not just a quirk of translation that they are relying upon for justification of the "restrictions on the movement of money")
From that distinction (and the fact that money is an obligation of the national bank) -
Article 65 (ex Article 58 TEC)
1. The provisions of Article 63 shall be without prejudice to the right of Member States:
(b) to take all requisite measures to prevent infringements of national law and regulations, in particular in the field of taxation and the prudential supervision of financial institutions, or to lay down procedures for the declaration of capital movements for purposes of administrative or statistical information, or to take measures which are justified on grounds of public policy or public security.
For more on the definition and distinctions of capital in the EU see Annex I of Directive 88/361/EEC Uless you really have a perverted desire to read the more authoritative ESA 2010 or ESA 1995 (which don't even really talk about the "little people" when discussing "capital" and its freedumb of movement in the EU.
There's a reason I went with the oversimplified version... the destiny of the union lies with a bunch of lawyers, bankers, accountants and THEIR definitions.
UR, article 65 and a bunch of similar articles still need a sovereign country to invoke them, don't they? in a nutshell: confederation
Well the provisions of Article 65 would require a signatory country to invoke them, but as to the sovereignty of said signatory country (by virtue of their signature and ratification)... who knows? The perspective varies by subjects within and across signatory countries.
I thought we were discussing a GrExit from the EMZ (since they will not be allowed to leave the EU by either Brussels or Moscow), and not discussing the juvenile gossip from Varioufakis.
Capital controls when the May balance sheets are published by the Bank of Greece would be implemented by Greece for the reasons bolded in the previous post.
One of the fundamental principles of the EU.
"Free movement of people and goods".
Ah, but not Unconditional or Unrestricted. Political and Ideological idiots like that are equivalent to there being no hills or mountains, and water flowing horizontally.
It used to be, when Common Sense and Causality (hard Consequences for stupidity) were more common, that the C students got low-paying Private Sector jobs. But now, thanks to the long-term consequences of the Hippie era (Affirmative Action), Darwinism is out, Socialism is in, and these same C student types are running governments.
ZHers, Tyler, "In the long run, Nature will not be mocked or denied." No matter what your political or religious belief is. ALL bow down to Mother Nature. Deal with it. Plan and act accordingly.
-Kirk out.
+1 and there is also a reason why polls show that Greeks want to stay in the eurozone and so keep their EUR in their pockets
Why aren't you pulling out your sage
"The EU and EMZ are two seperate things" speech?
After all, Poland for example isn't in the EUR, but in the EU and there are no trade restrictions. What makes you think the Greeks will leave the EU? They cannot get kicked out, so they could leave the EUR, fuck everyone and keep the benefits of EU membership while paying their fees in Drachmas.
If you're Greek, sounds like a pretty good way to go. As an added benefit, the Greeks could pivot towards Russia, and start vetoing all new sanctions within the EU-Rainbowland block.
Would be epic to watch.
what makes me think what? my point is that they don't want to leave the EUR. period. all the talk about the EU in this case only confuses matters, imho
OK....I'm so damned confused now.
Who's giving me my free money today? I don't know where to hold out my hand.
It would be epic but unfortunatley that's not how Brussels likes it. I'm sure they would find a way to bully Greece into submission. Cut back on imports from Greece and what not. Either you are with us or against us is their mantra. I would sure love to see one member misbehaving in that way though.
The EU has been bullying Greece from the getgo. Varioufakis said that in the first week after he became minister an EU official threatened him that capital controls would be imposed on Greece if he didn't sign some memorandum of understanding. They suspect Dijsselbloem of being that official. Dijsselbloem btw has a lot to hide in his own country regarding openness of governance regarding extra NL contribution to the EU and on secrecy regarding a parliament meeting on EU unification of the banking sector.
http://www.keeptalkinggreece.com/2015/06/04/varoufakis-agreement-by-june...
They can bully but imposing import restrictions goes against the very nature of the EU.
"Varioufakis said that in the first week after he became minister an EU official threatened him that capital controls would be imposed on Greece if he didn't sign some memorandum of understanding"
capital controls? methinks you have misunderstood a few things. if that rumour from Mr. V. it's true, that was not the threat. The ELA, possibly, but not capital controls
if anybody is going to put capital controls on Greece then it's the Greek Government, not the EU, which can't do such things
possibly the conversation went this way: "Varoufakis, if you do this, then you risk to come to the point where you have to impose capital controls". which is not only more likely, but also not much of a threat as such
You are right about the capital controls. Perhaps they meant ELA. I am only quoting here. Perhaps Varioufakis can release his secret recordings. That would be something: the V-files.
;-) then it's time for the V like Varoufakis video satire from the Second German Channel
note the part: "don't ask where the German gold comes from"
Who cares where its from -- the appropriate question is -- where is it?
My bet -- sitting in China, stamped with some cute Panda bear.
Well, Germany sent some officials to go knocking on the door of the vault of the NY FED but nobody answered. So they decided not to repatriate (as far as I got it). Said that it is safe where it is now. Whever that really is...
Also don't ask where zee German gold is now....(and don't mention the war)
Highlights from that video:
"our finance minister doesn't even have legs"
"Varoufakis, the walking debt"
Who says that Germans don't have humor. Well, ok. A bit then ;-)
He doesn't think they will leave the EU. That does not make any sense as you yourself pointed out. Easier or them to fight them on the inside than on the outside.
It would be epic to watch indeed. The Greek know how to play this game.
This is the key. If Putin starts handing out free cash to the Greeks (as he well knows any loan to the Greeks would never get paid back. Putin would do better for himself just giving the Greek government $5b for free, as a gift from one Orthodox nation to a brother Orthodox nation in a time of need. It would make Russia very popular within Greece and make the EU look like satan incarnate.) it won't be from the kindness of his heart. He will want something in return.
If he can purchase a bull in the EU-china shop for a few years for pennies on the Drachma, you better believe its what he is going to do.
The wild card in the above scenario is what happens in the next Greek elections whenever they would be.
But alas, this is all planned anyhow. Putin and Tsipras might as well just be stooges on the same side as Merkel & Obama. Only God knowns at this point what is really going on.
Good point.
It is exiting -but also a little frightening- to watch. I don't think at the international stage so much has been at stake for a long time. And small players can play an important role as long as they keep the options open. If they fold, their role is over and all is left is submission. The Greek know that very well. But so does Putin.
But at this point -as you said- anything is possible.
Staying in the EU and leaving the Euro are two seperate things. As long as they are in the EU there cannot be any trade restrictions. They are also a member of the WTO. So even if they were to leave the EU, any EU imposed trade restrictions can go to arbitrage.
ya'll hit the nail on the head
again!
Wonder if the GOOD GUYS are thinking is time for coup!
That's when creditors say no you funk yourself, we foreclose, evict.
Something has to give....not much left out of that can on the road....
Leaders to discuss cooperation in business, energy:
Business.................is that ment to meant to mean
Pitza as in Mafia
So much for June 5th being the final, seriously, for real, deadline.
There are still Americans living in homes that they haven't made payments on for years....so there is STILL hope for Greece.
There are many weastern nations that have not made payments on thier debts for years (DECADES)
So there is STILL hope for Greece
Fixed it for you
You know there is an industry built around getting those people out of the house so the bank can find the foriegn buyer asap to move in.
just strip pensions to 40 year olds... lower the fat ones to government employees end all will be fine
oh, also shift some 300 thousand public workers that sit on their asses doing nothing except getting payed to vote every 4 years to the private sector....
sounds like a good formula for a number of countries.
Putin can easily get Greece. Next Spain and Italy as the EU banksters greed overides everything else.
https://youtu.be/RAA1xgTTw9w
Yesterday there was nervousness in Greece over statements that Russia could bypass Greece when it comes to Turkish Stream. Tsipras is being played by Putin. There will be strict Russians conditions on any help from Russia in case the talks with Trojka collapse.
So I should erase the circle on June 5 on my calendar ??
I would say throw away your pens and just use pencils going forward.
either die or die slowly is not 2 options. swallow debt and force poverity on your country, or spit it out and have a chance to determine a better future..it seems with constant negotiations dragged out the EU hopes greece will forget the end goal and become ensnared in webs of complexity that result in austerity with no real solution of the main problem..loss of any local control of your economy..greece is either a country or colony of brussels. choose.
Greece can't pay, and Germany can't make Greece pay. The threat of a Russophilic Greece should frighten NATO warmongers at least a little bit, yet there are no alarms going off. Are they really that complacent? Probably not, but they must know they have zero options and zero leverage.
I suspect the end will be a "You're fired!/No I quit!" deal, in which everyone gets to save face, and Greece gets out of its debt oblgations, at least in reality, if not on paper. The final deal with the trioka will be a version of "pay us back when you can," knowing they wil never get paid.
There will be no Grexit. The monetary union will not hold if Greece leaves, and everyone knows it. Just like in a bad marriage, sometimes it's "Cheaper to keep 'er."
Greece will prove extremely useful to Russia as an anchor in the West, and as a conduit/workaround against sanctions. Everyone except Vicky Nuland, but especially Germany, will appreciate this- Greece as Russia's bitch, helping to make the sanctions irrelevant.
So, really, this emerging, "let's not but say we did" approach to the Greek crisis will have only one big loser- the Washington neocons. They, having great wrath, and knowing they have but a short time, will turn their ire inwards against the AmeriKan people. The rest of the world will breathe a sigh of relief as the USSA goes full rabid cannibal on its own ass.
The neocons want greece to buddy with Russia. A new cold war and the resulting gov spending is the goal.
"I suspect the end will be a "You're fired!/No I quit!" deal, in which everyone gets to save face, and Greece gets out of its debt oblgations, at least in reality, if not on paper. The final deal with the trioka will be a version of "pay us back when you can," knowing they wil never get paid."
No, the can't.
Italy, Portugal, Spain and do not forget France will all want the same deal.
That will be "kicking the can real far".
"I suspect the end will be a "You're fired!/No I quit!" "
Tsipras should be concerned about where that would leave his 50% unemployment, zero producing economy...
"Vlad, how do we proceed ?"
"Just default and after that join US (without the A)."
If they just quit haveing meetings, they could use all the money they spend on hotels, airfare, ground transport, food, booze, and blow, to make the payment.
better idea close down brussels
Well played Tsipras, well played...
The Greek better be careful on his trip.
Greece cannot pay.
Germany cannot make it pay.
Germany has tried to go full fascist on Greece. It has backfired because Greece hasn't budged.
Germany cannot consider Greece leaving the eurozone, or the EU, or allowing Greece to default.
Neat.
The IMF will pay.
On the other hand, I hope Greece manages a workable exit to that nightmarish situation. Barring war and being bombed, what's worse for a country than having those hyenas constantly on your back?
Lea, "Greece cannot pay"... who said that? Varoufakis, the Greek FinMin? Actually... no. Or at least not yet. So I ask: who is saying that?
consider your sources, or the fact that the Tsipras Cabinet is keeping the financial situation very tight to their chests, in this bargaining round
I am saying that. Anyone who can do basic mathematics can say that, just not a dumbed down europhile troll like you who shows up on here every day spewing shit about things you little understand.
The problem in correcting you is knowing where where to begin with the dozens of brainless posts you put up.
begin here, with the very beginning of this article: "Greece was scheduled to pay the IMF around €300 million today. "
are you saying that Athens can't pay that?
and you might add that DE may fall apart as a result.
mutti merkel and her bulldog at odds with each other, my ,my.
nato bombing a nato member
hmmmm, haven't seen that one yet. lol
The Greek debt is odious debt, repudiate it all.
It is a serious drag on growth and prosperity for future generations. Unfortunately repudiating the debt will mean leaving the EZ, but so what? How much worse can it get? There is no way forward unless the debt is totally repudiated.
The current global debt ponzi is unsustainable, its only a matter of time until default is recognized as the way forward to the next stage.
has it occurred to you that the debt may be used as a means of pressure to fix the broken economy?
asume for a moment that the debt was erased tomorrow... how would that help a deficit economy to reform?
nothing would be done
Greeks are not Icelanders.
They got castrated years ago. If this crap had been going on 50 years ago, you'd have a bloody revolution on your hands. As its is...
Kirk, Iceland devalued by 50%, didn't it? besides the capital controls
But at this point I avoid any speculation since it all has been done before so we know which cards are in the game. We only have to wait and see which cards are actually played out.
russian proposal is very simple - russia gives credit in exchange for future turkey-greek pipeline revenue
Notice how the American cowards retreat as Russia advances?
China now taking the heat in the press as the bad guy.
Funny how the girls in the Pentagon fear Russia, isn't it?
Are you this person?
https://twitter.com/abc13houston/status/492391198288781312/photo/1
http://m.youtube.com/watch?v=_aI7Rcdtx_E
Putin and his many lovers
he treats them roughly
but they still run to him
what a man!
Oh, are you in debt honey?
I'll take care of you!
Slap slap slap
obedience!
http://www.dailymotion.com/video/x2ssa1r_rt-crosstalk-fifa-scandal-5-jun...
Greece is essentially threatening to beg for money from countries outside the EU.
Tsipras has said that electiions are out of the question, only the Germans and the financial establishment want elections.
Tsipras said on TV that a referendum will be held asking Greeks to choose between staying in the euro and more austerity or drachma and no more austerity, instead a spending spree fueled by cash from Russia pre-paying gas transit fees.
The referendum is not simply a risk as the article mentions must definite, elections are wishfull thinking by those who want Tsipras out of power, the mass media and financial establishment in the west.
Sweet dreams EU , Germany is bringing the whole edifice down just like the messed Europe in WW2, next European Union without Germany please. :)
And the benefit to the Greek people of remaining in the Euro and EU is . . . ?
a stable currency? a market for products?
"going Iceland", for example, meant a devaluation of 50% for the Icelanders. Imagine that, you get the same amount of salary, but nearly everything is double the price?
that together with capital controls, of course
No doubt there would be short term pain - Iceland's economy suffered negative growth after it's default, but in the years following it has achieved fairly consistent positive economic growth and never registered two consecutive quarters of negative growth. By 2013, it's credit rating went from negative to stable, and is now rated either stable or positive by all the major ratings companies. While a nation's credit ratings have only a loose correlation to the well-being of its citizens, Iceland's credit went from negative to stable in 2013, and is now rated either stable or positive by all the major ratings companies. The fact that Iceland is the only country in Europe to actually put its corrupt bankers in jail helps as well, something they clearly would be unable to do if they remained under the dictates of the EU.
RT Crosstalk today on FIFA scandal
http://www.dailymotion.com/video/x2ssa1r_rt-crosstalk-fifa-scandal-5-jun...
I know if I missed a $300 million EU payment on anything, the penalties and interest would be kinda large.
The IMF appears to be a fucking joke.
There must be so many fucking derivities and CDS that are involved, they are all scared.