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Greek Central Bank: "Greece will leave the European Union"
Everybody loves a good drama or tragedy, but it very rarely evolves into a comedy like the Greek situation seems to be unfolding. On June 18th, there’s another meeting of the Eurogroup, the last one before Greece has to make a 1.5B EUR payment to the IMF. As we explained in a previous article, a solution would have had to be reached before the start of the Eurogroup meeting, as every deal would have to be ratified by the parliaments of the member states.
Even though Tsipras ‘had a plan’ last weekend and seemed to be willing to make sacrifices – especially as the most recent polls indicated a small majority of the Greek population was agreeing with the requests made by the IMF, ECB and European Union, but he seems to be pulling the plug once again.
Despite a move by the ECB to charm the Greeks – the ECB said that if Greece would accept the proposed bailout package it would make more money available and it would start to purchase Greek government bonds – both parties seem to be further away from each other than ever before in this crisis. Tsipras already said he wouldn’t hesitate to reject the final deal offered by the Eurogroup and now even the central bank in Athens has released a remarkable statement.
It says that it’s unthinkable Greece will stay in the European Union if no new agreement can be reached. That’s an obvious conclusion, but it’s surprising to see an official institution of Greece openly talk about a Grexit.
Athens can now see the bottom of its treasury as for instance the tax collection turns out to be 1.7B EUR lower than anticipated as the economy is turning sour (well, even more sour than before would be a better description here). The problem goes even further than that. Back in the fall of last year, DEI, Greece’s largest provider of electricity, said it had 1.7B EUR of bills that were due.
Right now, that amount has increased to 2B EUR, signalling the economy is doing much worse than anticipated. This could already be seen in the increase in the unemployment rate which now stands at in excess of 26% again.
Even Dijsselbloem, the president of the Eurogroup, has lost hope and thinks an agreement is ‘highly unlikely’, and if indeed no solution will be agreed upon, the European Union and the Eurozone will enter uncharted territory. If Greece goes, who will be next? Why would Spain or Italy accept to be controlled by the European Union if it’s much easier to just abandon the block and re-gain their financial sovereignty which is now in the hands of the European Central Bank.
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They do not have to leave. They just can say. We won't pay. So the problems will be that of the creditors....
Greeks are singing ...ICE BABY, ICE BABY........for Iceland!
A letter to Tsipras from Hugo Salinas Price. Silver money for Greece.
http://plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=264
If the Greeks try to introduce REAL money ... there will be war.
There is no way on God's Earth that this will be permitted.
'300'...?
Again...... https://www.youtube.com/watch?v=Zvl9N9GdraQ
The consequences of a Greek alliance with Russia, are so terrifying to the West, that a deal WILL be manufactured.
As ever, the European and US taxpayer will be on the hook.
After the passage of a respectable amount of time, the Greek' malcontents can be conscripted to foment a bloody regime change a la Ukraine/Libya/Syria/et al.
Already started. Somehow the "moderate muslims" in Albania have "gotten" the idea that they can resurrect the Greater Albanian Empire by taking parts of northern Greece and Macedonia. Recently the Albanians were caught by Macedonia (via Russian Intelligence) trying to smuggle ISIS terrorists into Macedonia to "hook up" with the colour revolutionist to create chaos and regime change.
It's the PNAC way...
As ALWAYS it will be the pensioners who get fucked.
The young will restart their lives (if they are allowed back into Germany to work) but those who were counting on the banks to hold the pension funds will live very austeer lives.
France in 1791, Weimar 1923, Bolivia 1985, The whole ex-Soviet system 1991, Zimbabwe 2007....should I go on?
In spite of all the grumbling about the Boomers screwing the younger folks...it never works that way...NEVER!!
Unfortunately, this won't happen.
They'll just end up finding the most unhappy medium for everyone involved. Spread the (not) wealth around.
ALL together Greece...show the CRIMINALS, your middle fingers!
both hands...and if you can do it with your toes, those too
I wonder if this means Greece is going to default
Greece already defaulted. On the 5th. This is just the 'official' agencies recognizing it as such.
EXIT
DEFAULT
INDEPENDENCE
this scam they been running has been going on for years!
Everyone keeps talking about the stinkin’ FED raising rates.
Fool me once, shame on you. Then….fool me twice SHAME ON ME!
One Market analyst I listen to ==> http://www.bit.ly/1GgvUtE calls are rediculously accurate. He basically has a great knowledge and predicted the 2008, and just released his video on what he thinks is coming for greece. And how to profit.
He thinks they will get their ass saved on JUNE 30th, which I disagree with, i think its fire and bring stone coming for GREECE. But my uncle lives in greece, and has no food, no work, no nothing. Cant even get a $7 handjob in the street, like he could back in the 80's there. haha. LOL
hahaha if the fed actually just raised rates, the market would look like a deer in headlights.
Then it would look like a deer that didnt move while the driver was looking down texting.
The package must have just arrived from Fortress Paper Co...........
O/T: Did Obie stop golfing? Or did the EbolaCzar eradicate T-times also?
A La Betty White, American character actress : “Why do people say "grow some balls"? Balls are weak and sensitive. If you wanna be tough, grow a vagina. Those things can take a pounding.”
The key would be for Greece to have hosted a round of the negotiations so that everyone of import would be on Greek soil. Then, go all Sparta and shit.
Nice. Greeks with homes that they owe money to the banks are all like, "Come and get it. I'll bust a cap in yo ass." This should get interesting.
If so much as one banker/repoman gets hurt Mr. Putin will have to face the consequences of his aggression.
Uh-huh. Did you get instructions to drill down a certain number of levels before making your preprogrammed comment?
Wait for the government to officially deny it.
+1 for the Nike reference ...
End it. Enough already. I'm sure the Greek people are totally fed up with these games too.
Most of Greece is sitting around a table drinking raki and smoking cigs right now.
Its only like.... three cities in Greece that even care.
Everyone outside of Athens is like "Meh" because deal or no deal, their lives will only change maybe 5% for the better or worse.
People from Greece on facebook are posting things like " I cant find diapers or formula for my baby" and "the super market doesnt have anything on the shelves".
Such problems are only problems in city locations with dense populations, which 90% of Greece is not composed of, most Greeks probably dont even have a bank account, its pretty much a "cash economy", I dont think any family I have in Greece even has a credit / debit card, but they have stacks of $$$$$$$$$ with rubber bands, and shotguns, with lots of shells....
The Greeks are better off without the Euro, despite what any polls may say to the contrary.
Greece only has 10~12 million people, to put it into contrast... Athens has maybe 500,000~700,000 people.
So say three major cities are going to get hit hard from the default. . . . thats only like 30% of the population (not even, probably closer to 20%)
The rest of the people? are going to wake up and do what they been doing for the past 30 years, namely work the land, drink, pass out.
And worst case scenario, people abandon city and go live with Grandma and help out on the farm . . . and stomachs stay full.
One more time---nobody in a position to do anything about it is going to let Greece leave the EU alive.
If she won't give herself to the banksters, they'll rape her, steal everything in her house they can fence, and then set the place on fire with her inside, all in broad daylight.
When the fire is out, they'll sell the lot to the Saudis. Whatever replaces the Greek people will need plenty of space to build mosques.
Yes if they let the bankers that is exactly what will happen. But on the other hand if they nationalize their banks, convict a bunch of old politicians and bankers for theft and fraud, leave the Euro and declare their independence they will have a bad time for a while but that light at the end of the tunnel will not be an aproaching train for a change.
In order to be free you must be fearless and you are not one.
JUST DO IT!
Show the rest of the world how to be free again!
Nike, the original winged godess of victory would be weeping if she could see what dithering, gullible, welfare queens and debt slaves the greeks have become thanks to GS, the bankster creditors and their own politicians.
They've got some hard choices to make and hard times ahead. As do we all.
Nike, the original winged godess of victory would be weeping if she could see what dithering, gullible, welfare queens and debt slaves the americans have become.
Sadly, more predictable is a repeat of Cyprus, minus the availability of deposits of Russian "businessmen".
The deposit from the ECB with ELA will be the bag holder in the Greek opeation Bail-in.
People stupid enough to still have money in those banks would get more money in a EU bail in than in a Grexit ... the amount of idiots with more than 100k Euro is unlikely to be very large, so a bail in would hit almost no one. Each and every account holder would get raped in a forced Drachme conversion though (or at best a long long freeze on Euro withdrawls).
OK, lets play a scenario game here:
Scenario #1: Greece stays in EU.
Syriza goes down in flames, only to be replaced by an even more radical party- one that looks like a cross between Right Sektor and the Red Army Faction. This new party is not afraid to practice democracy with guns. It is opposed by a phalanx of conservative paramilitary forces, which coalesce into a totalitarian juggernaut of its own...
Who wins? The "blood in the streets" guys.
Scenario #2: Greece Grexits.
The bond market fallout is contained by smoke and mirrors... only to re-emerge with a vengeance on the peripheral periphery- China, Brazil, etc (but not Russia).
S and M collapses in the face of massive planet-wide economic dislocation, only to be propped up with draconian measures- ie global economic controls. Russia, unscathed by the fallout, stands alone against the global tide of economic totalitarianism. Of course, Russia must be destroyed. But how? Somebody lies awake at night thinking about these things...
Who wins? See scenario #1.
Nobody wins but everybody loses. That's the way the system works nowadays and no way out for anybody....
Whoever bought Greek bonds deserves to lose. They probably invested in Yugo, also.
Greece isn't going to "leave/Grexit" they will just not be loaned any more money. They will have to SELF IMPOSE austerity because they sure can't pay pensions, on their own, without it. They will have to do everything the EU was requiring AND MORE.
They have played their "who blinks first" game too long. THEY lost. They won't be "free", they'll be decimated. How many drachmas will be needed to buy one USD or EU ?
(see Zimbabwe)
AEP: Greek Central Bank is playing with political fire