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BREAKING: Greece 'Suddenly’ Submits A ‘Plan’
Big surprise in Brussels late last week as the International Monetary Fund pulled its negotiation team from the discussions with the European Union and Greece where all parties were trying to find a sustainable long-term solution for the Greek drama.
Pulling the team out of the negotiations probably was the right thing to do as the Greek delegation suddenly realized playtime was over and that everybody was losing its patience with the stubborn strategy they were using. Suddenly the Greeks were scrambling to convince the European Union and Eurozone partners – which didn’t walk away – that it had the best intentions to come to an agreement. Less than 24 hours after the IMF walked away, Greece already submitted a new plan.
According to our information, the main stumble block were the pensions and salaries of the government officials and on this subject Greece just doesn’t want to cave at all. The IMF wanted Greece to spend 1% of its GDP less on pensions, but that was a no go for the Greeks as they thought that would make them lose their faces in Athens. And they are correct. Whilst other measures are a bit easier to swallow and to implement, lower pensions and benefits would have a direct impact on the weaker classes of the society, and it would be unheard of to see a left-wing Greek party reduce the pensions. That’s why Alexis Tsipras called the demand absolutely unrealistic, especially now the Greek unemployment rate is ticking up again.
Source: Bloomberg
That perception will have to change though, and seems to be changing. After Juncker called the proposal to have another meeting with Tsipras ‘a waste of time’, Greece seems to be realizing things are getting very serious now and on Saturday Tsipras announced he’s willing to make sacrifices to come to a solution. He will have to as not only is the unemployment rate in Greece on the rise, the cash outflow from its banking system is still ongoing (see next image).
Source: Ibidem
He will have to do so, and he will have to do it overnight as the next meeting of the Euro-Group is on Thursday. If Greece wants to make sure it receives the next package of the bailout-funds before the end of this month, they will HAVE to get an agreement by Thursday, as the ministers of the Euro-countries will need some additional time to get ratification of the new deal in their respective parliaments.
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Walking away always gives you the best negotiating position.
My rule in negotiating is that you never submit a plan. You ask them to submit a plan to you and then you ask them to do better or entice you more. on and on. The first side that talks next loses.
Unless you are negotiating from a position of weakness in which case you need to bluff that you have a pivot. That's what the Greeks are doing now. Go Greeks!!
I think everone knows by now their plan has never worked to successfully repay anything...
In the last two years a group of my friends have gone on cycling trips to europe. Last year it was the Czech Republic and after they arrived, they took a tour of a city with the oldest religious building in the region:
One of our friends were immediately pick-pocketed losing all credit cards, ID and Passport at that site. It was a really big problem and ruined thier vacation.
This year they went to Lisbon and guess what, two ladies (one being my significant other), were AGAIN pick-pocketed and lost the same items again. Now we have to go through all this shit again.
Fuck the EU. Do not travel there.
Lumberjack that's outrageous, only 3 of 28 of my family pick-a-pocket-or-two and 2 of them are doing porridge and so the remaining one could not have been in 2 places at the same time, D'uh.
P.S. Send £1200 to P.O.Box GB 1654T and i'll return those items your significant other had nicked.
Its called a MONEY BELT......saved me more than once.
Europe is full of pickpockets.
Always has been,
always will be.
What else is new?
Open borders and uncontrolled illegal immigration will do that.
The IMF was designed to enslave countries.
Confessions of an Economic Hitman by John Perkins
States the same point
Confessions of an Economic Hit Man - Resistir.info
I have a plan. Drink beer, eat pussy and take money from whoever is giving it.
They're in, they're out, they're in, they're out.... Kicking the can down the road until we all know every single stinking criminal to hang I hope.
They could change their name to Ukriane. Seems money is no object there.
Isn't it wonderful how the International Monetary Fund is protecting Greece's working class and doing everything else it can to make the world a happier, healthier, safer, more loving place? :^)
The real questions are: why did Greece borrow from IMF in the first place knowing that the funds came with strings attached. Better yet, why is Greece still a member of IMF?
And, do the Greeks ignore that the monies the IMF lend come from taxpayers from other countries, and as such must be repaid.
Agreed. Greece (Portugal, Spain, Ireland) remind me of the Americans who bought McMansions with tiny down payments and then got foreclosed on. But I think the bankers who loaned the money share the blame, because bankers portray themselves in movies as being "conservative", meaning as being focused on not loaning monies that it appears that borrowers will not be able to repay. I think this gives people the mistaken "belief" that, if the banker offered to loan them money, it MUST BE safe for them to go ahead and borrow it. Wishful thinking by borrowers and, I think, misrepresentation by bankers who, if they are really professionals, which means licensed to SERVE their customers, ought not to do such things.
80 yr old women in Ukraine collects 60 $USD a month in retirement.
What does a 80 yr old women in Greece collect a month in $USD?
I could be wrong, but it seems like defaulting on the debt and leaving the euro currency behond and adopting the new drachma will result in quite a large cut in pensions and wages. Assuming the drachma is devalued by say 40% against the euro, that is a 40% cut in purchasing power of the pensioners and public sector workers. Does the Greece public really think this isn't the same as cutting pensions/wages? Not to mention crazy inflation will take place which will put even more pressure on pensions/wages to keep up in buying power. People are going to get destroyed even more.
That's not to see a default should not happen. I'm just saying this hard line stance on keeping pensions and wages the same rings hollow to me.
Unless they adopt a gold Drachma.
Using TVM-LSM-666.
Obama is black and bull shit his black gayness and tranny wife into the presidency. Greeks are not black still full of shit and they do have ships for trannies. The maket is a bigger lie than both.
Off your meds??
He knew all along..... Mr. Panos..... https://www.youtube.com/watch?v=Zvl9N9GdraQ
I am a dummy-This "is all Greek me"
Greece can't pay its debts.
I'm SURE more debt will help!!??
So um how many of them new dracmas are printed up now? Lets see um.
Im Billions in debt with NO Way out, but wait...I have a plan...lmao
...that comes together
https://www.youtube.com/watch?v=FPQlXNH36mI
https://www.youtube.com/watch?v=OKp8mYzsQzo
Im Biillions in debt with no way out, but wait...I have a plan...LMAO..
The problem has just been solved.
They got one of those Nigerian guys to write them a cheque to cover all their debts.
Ah you mean Chief Makinde who's been sending me those emails....
So I guess EUR/USD will gap up : ) ) !!!!
Absolute rule #1: NEVER declare a default.
Absolute rule #2: Do ANYTHING IT TAKES to keep the Ponzi going.
Change the name from BAILOUT to CHARITY.
That is what it really is as the debt will never be repaid.
ECB's negotiating position: "Remember April '41."
Liberty is a demand. Tyranny is submission.
What a fucking clown show
Yep and John Wayne Gacy clones are running it
You know, I've visited the circus a time or two, but I've never seen an actual "clown show" out touring on its own.
Might be fun to watch for a change.
This is more like two competing teams of bureaucrats haggling over the title of "Least Useful Human Being on the Planet".
Of course, with all bureaucratic games, there is no time clock. The contest goes on forever.
I shoot myself in the foot; then you shoot yourself in the foot. Then we're even.
I shoot myself in the foot.
Then I shoot YOU in the foot.
And now we're even evener.
One cent on the dollar payment so they can say it is being paid back.
Then Drachma's and leaving the EU.
Yep. Then, they may switch teams for Russian gas.
http://redefininggod.com/2015/06/globalist-agenda-watch-2015-update-28-u...
… what we need is a brilliant solution to the Greek situation.
How about selling them to Taiwan?
That will certainly get the economy going again.
Greece should be added as the 51st state in the US. Hell, why not, Greece is even better than the US at getting themselves in trouble over debt up to and past their fucking eyeballs, so Obama could learn from Greece how to fuck-up the US even more (which does seem to be his goal). And Greece's debt issues could be resolved with a QE rounding error for the US, easily absorbed. Pull Greece from the EU, tell Europe to stuff their euros up their asses, and use dollars as the new Greek currency. Then, let Putin run his gas line through Greece anyway, just so Obama can say he actually worked with Putin one fucking time. Greece could also be the new American getaway location for bored Floridian retirees desiring easier access to Europe - no passport needed for Greece ! .... Yes, I know, this is a crazy stupid idea and I don't even know why I wrote it up except it was fun to do and I've had a few too many Coronas today.
or maybe you know something
Greece should become a tax haven and free for all summer vacation destination with free ouzo. Party all night and swimming and sunbathing during the day. Free matchmaking online.
Here is my brilliant solution to the Greek situation. Imagine walking into Bob Iger's office at the Walt Disny company and saying "How would you like to manage 1. An ancient themed amusement park complete with ruins and offer "Camp Socrates" and "Camp Sparta" for 5000 dollars a pop. On top of that resort Islands with a "Zorba the Greek" impersonator leading dance classes. For those interested in sailing "Pirates of the Greek Islands" adventure. In no time at all they would be profitable and out of this mess. No kidding!
How about the island of Lesvos for a lesbian holiday?
Disney would never do it. Topless beaches on some of those Greek islands.
Fifty rear old Hausfrau's going topless clears them though.