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Inciting Bank Runs As A Negotiating Tactic
Submitted by Raul Ilargi Meijer via The Automatic Earth blog,
The troika of Greek creditors has gone into full-frontal morals-be-damned attack mode, handpicking arms from a weapons arsenal we haven’t seen used before, and that we never should have seen in an environment that insists – and prides – on presenting itself as a union, both in name and in spirit. Now that they are being used, there no longer is such a union other than in name, in empty words.
This has turned into the kind of economic warfare one would expect to see between sworn and lethal enemies, that the US would gladly use against Russia for instance, but not between partners in a union founded on principles based entirely and exclusively on being mutually beneficial to everyone involved.
Those principles, and everything that has been based on them, the common currency, the surrender of ever more sovereignty on the part of the nations involved, the relinquishing of national powers to the various supra-national bodies in Brussels, has for everyone involved been based on trust. Nobody would ever have signed up to any of it without that trust. But just look where we are now.
When spokespeople at the troika side of the table stated on Thursday that they don’t know if Greek banks will be open on Monday, they crossed a line that should never even have been contemplated. This is so far beyond the pale, it should by all accounts, if everyone involved manages to keep a somewhat clear head, blow up the union once and for all. If a party to a negotiation that can’t get its way stoops to these kinds of tactics, there is very little room left for talk.
And all EU nations should understand by now that this is not about Greece anymore, it’s about all of them. Any member nations that does not fall into -goose- step with Brussels must from here on in be prepared to deal with attempts to crush it economically and politically.
Whatever trust there once was is now gone. And trust, once blown, is painfully difficult to regain. The negotiations on the Greek debt crisis have become just another dirty business deal, and have nothing to do anymore with conversations between equal partners in a union. Even though that is still what they’re supposed to be. Officially.
Translation: there are no equal partners in Europe. There only ever were in name. When people thought they signed up for a tide to lift all boats. The Greek crisis has destroyed that lift-all-boats notion once and for all. All that’s left of the union is power politics, of those (s)elected to represent all member nations, working to crush one of them with all weapons at their disposal.
One of those weapons is utilizing the media to incite a bank-run in Greece, aimed at paralyzing the Greek government into full submission. The run-up to the bank-run has been building up steam ever since Syriza took over 5 months ago, but apparently not fast enough for the troika.
The threat has always been simmering below the surface; what changed is that the moral constraint which kept the creditors from speaking out loud in public about it, was dropped yesterday. And that changes everything.
The European Union cannot deliberately aim at a bank-run in an individual eurozone member nation without quashing the very trust that holds the union together. The only remaining question after this is: who’s next in line?
This is from the Guardian:
Greece Faces Banking Crisis After Eurozone Meeting Breaks Down
Greece is facing a full-blown banking crisis after a meeting of eurozone finance ministers broke down in acrimony and recrimination on Thursday evening, bringing the prospect of Greek exit from the eurozone a step nearer. Some €2bn of deposits have been withdrawn from Greek banks so far this week – including a record €1bn yesterday – triggering fears that a breakdown in talks would spark a further flight of funds.
[..] leaders of the eurozone and the IMF aimed bitter criticism at the leftwing Greek government, accusing it of lying to its own people, misrepresenting and misleading other EU leaders, refusing to negotiate seriously, and taking Greece to the brink of catastrophe.
‘Not negotiating seriously’ translates as ‘not doing what we tell you to do’. It’s absurd to claim that Syriza, which has tabled an entire range of proposals, one even more detailed than the other, does not attempt to negotiate seriously. It’s a claim the Greek side can make just as well. The underlying tendency is that the troika does not see the talks as taking place between equal partners. And that is lethal for the whole idea behind the European Union. It’s its instant death even if people will be slow to realize it.
Christine Lagarde, the head of the IMF, said there was an urgent need for dialogue “with adults in the room”. She added: “We can only arrive at a resolution if there is a dialogue. Right now we’re short of a dialogue.”
This is something only a juvenile mind would come up with. Lagarde is obviously not worried about her reputation, she feels -nigh- omnipotent, but she really should be. She’s causing enormous damage to the IMF, and its future standing in the world. There are many IMF member nations who now know they can and must expect to be treated in the same way should there ever be a conflict involving their nation and the Fund.
Lagarde has taken a tough line on debt talks with Athens over the past four months, since the radical leftist Syriza government took control and insisted creditors drop proposals for further austerity as the price of releasing the last tranche of bailout funds. At the talks in Luxembourg she reportedly introduced herself to Greek finance minister Yanis Varoufakis as “the criminal in chief”, in reference to Tsipras’s claim earlier this week that the IMF bore “criminal responsibility” for the situation in Greece.
Pierre Moscovici, the European commissioner for economic affairs, who has been more sympathetic to the Greek case, said: “There’s not much time to avoid the worst.” He appealed to the Tsipras government to return to the negotiating table, making it plain that Athens has been treating its creditors and EU partners with contempt.
Who’s been treating whom with contempt? Have the Syriza team ever been treated as equal partners in the conversation? This is perhaps best expressed by Bob Dylan’s “It’s a restless hungry feeling that don’t mean no-one no good; when everything I’m-a-sayin’, you can say it just as good”.
Dijsselbloem demanded that the Greek government act quickly to restore trust and stem the haemorrhaging of deposits. “It’s a sign of great concern for the future,” he said. “It can be dealt with, but it requires quick action.”
It’s Greece that caused the deposit flight? The only sense in which that could be true is that is has refused to bend over and let the troika have its way with its democratically elected government.
Top officials from the ECB told the meeting that Greece might need to impose capital controls within days. They said the banks would be open on Friday. “On Monday, I don’t know,” Benoit Coeure from the ECB board was said to have told the ministers.
There is no longer even any semblance of equality among partners either in the eurozone or at the negotiating table. It’s important to see this not just in the light of the current talks, but in that of future of the European Union as a whole, and in that of future talks about debts that EU member nations have incurred with any of the troika parties.
What the antagonism is about is really quite simple. Though the fact that the troika is split doesn’t make it any simpler. The IMF won’t budge on imposing additional austerity measures, but wants Europe to execute debt relief. Europe is more flexible on austerity but refuses debt relief.
Or, actually, it says debt relief can be discussed, but only after Greece has signed on for a list of demanded ‘reforms’. For the Greeks, that’s the wrong way around. Not in the least because the EU floated debt relief back in 2012 but has never delivered.
Politicians and media in countries like Germany and Holland have engaged in so much rhetoric about Greeks living lavishly off other nations’ taxpayers’ money that they fear for their political careers if they were to offer an overt restructuring and tell the truth about wat actually happened in the bailouts.
The IMF’s Olivier Blanchard this week held out some vague idea of even longer maturities and even lower interest rates as the definition of debt relied for Greece, but what is needed is a much more comprehensive restructuring. Along the lines of a 50% or so reduction of the debt.
The problem is that Germany, France and Holland used the money that Greece now supposedly owes, to bail out their own banks. And never presented it domestically this way. But that is not Greece’s fault, or its responsibility.
The second main issue, austerity measures, comes in the shape of ‘reforms’ to the Greek pension system. Which badly needs a revamp, and Syriza is the first to acknowledge that. What it doesn’t want, though, is for the system to be cut first, and changed only later. Because that would mean that many Greeks who are already in dire need would from one day to the next be made even poorer.
And since any comprehensive change to the pension system would be laborious and time consuming even under advantageous circumstances, and there is little faith that Europe wouldn’t stretch it out even further, cutting now and talking about it later is not acceptable for Varoufakis and his people.
To add to the vicious irony of the situation, as Paul De Grauwe noted, Greece is illiquid -it has no access to capital markets-, but it’s not insolvent.
Greece Is Solvent But Illiquid. What Should The ECB Do?
[Greece's] headline debt burden of 175% of GDP in 2015 vastly overstates the effective debt burden. The latter can be defined as the net present value of the expected future interest disbursements and debt repayments by the Greek government [..] Various estimates suggest that this effective debt burden of the Greek government is less than half of the headline debt burden of 175%.
[..] the effective debt burden of the Greek government is lower than the debt burden faced by not only the other periphery countries of the Eurozone but also by countries like Belgium and France. This leads to the conclusion that the Greek government debt is most probably sustainable provided Greece can start growing again[..]. Put differently, provided Greece can grow, its government is solvent. [..]
Today Greece has no access to the capital markets except if it is willing to pay prohibitive interest rates that would call into question its solvency. As a result, it cannot rollover its debt despite the fact that the debt is sustainable. There is something circular here. If Greece is unable to find the liquidity to roll over its debt it will be forced to default. [..] The expectation that the Greek government will be faced with a liquidity problem is self-fulfilling.
If the ECB would simply include Greece in its €60 billion a month QE bond-buying scheme, and buy Greek bonds as well as allow Athens to access international capital markets through one of Mario Draghi‘s whatever-it-takes statements, the crisis would be lifted in very substantial ways, in a heartbeat.
Instead, the troika part of the ‘negotiations’ does not involve trying to find such a solution, what they want is for Greece to give in, give up, bend over, and take it up the @$$
The powers that be are so full of hubris and of themselves that they ignore the fact that their actions today sow the seeds for the demise of all three of their constituencies, IMF, ECB and EU.
None of these institutions has any raison d’être or any claim to fame unless there is explicit trust in what they represent. That trust is now gone, and it’s hard to see how it can ever be recovered.
Whatever happens to Greece going forward, that is perhaps the biggest gain its dramatic crisis will gift to the rest of Europe, and indeed the world. Which therefore owe it a debt of gratitude, and of solidarity.
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Seriously, who gives a shit!?!?
I do.
If Greece exits the euro the NWO is DOA.
It is obvious that the troika are war criminals, seeding the fields for massive human death.
They are using their positions deliberately to destroy a nation - that is an Act of War by anyone's definition. And because they are doing it through criminal methods, they are War Criminals guilty of Crimes Against Humanity.
It is one thing for economic disaster to occur through the idiocy of players; it is another completely to deliberately cause an economic disaster with foreknowledge it will result in death, societal destruction, anarchy, and all the other inhumane consequences that the troika knows - and is using this certain knowledge - to inflict terrorism on any nation.
The world knows that what is occurring is an act of brutal subjugation designed to instill terror into the hearts and minds of any other nation that dares question the troika or its power.
Therefore, this is not a financial or economic decision; it is an act of crushing the entire fabric of a society for the sole purpose of reigning over it. As such, it is not only legally indefensible, but it is morally repugnant on the level of Hitler's concentration camps, Stalin's famines, Pol Pots' Killing Fields, Turkish genocide, and Ukraine's ethnic cleansing.
In a world with integrity underpinning its society, the leaders of these institutions, and the heads of state and their cabinet ministers who are participating in these crimes would be executed without hesitation.
Greece has the right to survive and be free of this terrorism. It therefore has the right to take whatever steps are necessary to administer the execution of these criminals to first stop them from continuing their terrorism, and second, to serve an incentive for others to not copy their crimes.
It is my most sincere hope that something will transform the Greeks from debt slaves into keepers of the nation's existence as an entity free of this terrorism.
I applaud a Declaration of War as the only available self-defense mechanism available to Greece, on those who terrorize the nation, and that Greece execute the terrorist War Criminals as quickly, and completely, as possible.
-30-
Well said MIS, this is clearly odious debt and should be treated accordingly. The oppressed must cast off their oppressors legally, if possible, or violently. The other option of perpetual slavery is not life. We in the USA should be watching this closely.
Miffed
NWO is DOA regardless. Too much debt and shit...
Seriously??? The NWO is DOA if Greece defaults???? LMFAO.
Why do you think they are not allowing Greek bond sales? Do you believe the NWO gives a shit about central banks now? They have served their purpose and now they will be used as a scapegoat when it all melts down. Then they will have people begging for the NWO.
NWO is the central banks you moron ! He who makes the money, rules the world...
The NWO is NOT the central banks. They want you to think that's all there is to them. How many Elite NWO Rothschild's does it take to amass a large piggy bank with everything printed money can buy?
Grow up angel.
You are too stupid to matter ! Unfortunately, most Americans are like you nowadays... That's why this once great country is dying as we speak.
Oh, so you got all the answers right dude? Or are you just a troll regurgitating the Central Bank=NWO meme?
Either way, go fuck yourself.
Too much debt?
Really?
This so called 'debt' is a fiction. Debt is a construct of the criminal gangs who have conspired to enslave humanity.
It is illegitimate and the coming meltdown, while horrifically violent, will likely prove benificial.
Kinda like cleaning out a closet..
Where all humanities shame has been stored.
Debt is definitely not a fiction. If you want proof, try defaulting on it...
Debt IS fiction. The reality is the holders of derivitives that ASSUME that debt as collatoral is fiction.
Greece will do exactly that. And there isn't shit anyone can do about it.
Greece will do exactly that. And there isn't shit anyone can do about it. X2, I guess
Which is why Greece will not exit the Euro.
Allowing the people of Greece freedom would be akin to permitting a fully Libertarian state to exit the American empire (unmolested/undermined).
Won't happen.
"Allowing" the Greeks .. The Elites think they are awesome. No one has dared to call their bluff since individuals get crushed. When a nation does it, gets away with it, and proves for all the world to see that "The Emperor has no Clothes" .. Look out
Well party is over, that much is for sure, but locust just moves over and leaves destruction behind... Two words, "revolutionary justice", comes to mind. Or perhaps in this case, "kill it with fire"...
I see the ponzi moving to the fresh meat BRICSSA/AIIB starting fresh or NWO.
Hey that's a conspiracy theory so it should be ignored.
Of course they would also call it a conspiracy theory but the powers within the Eurogroup will make the Grexit as painful as possible for the Greek people as a warning to the populations in Portugal, Spain and Italy. How horrible would it be for the Euro, if Greece exited and managed the thrive. It won’t be allowed.
This is a very high stakes game right now that cuts both ways.
If bank runs start in other hopeless countries like Spain, Portugal, Italy, Ireland, east Europe however (they still have the internet and TV right?) before the implementation of European-wide capital controls or the outlawing of cash... the ECB is DOA and nation-states will likely issue their own currencies once again. (Or at least the bankers that already own these countries will...)
if Greece exited and managed the thrive.
This is the exact reason why the EU is forcing a bank run. If Greece adopted the new drachma and exited the EU, think of all the foreign reserves they would have as Euros. Forcing a bank run will bleed these banks and the country dry in general. The exit will become much more painful.
Exactly. If there is a Grexit and Greek repudiation of debt, the EU will order all assets owned by Greek Citizens and held anywhere under EU jurisdiction to be confiscated immediately. All bank accounts, book entry securities, land, buildings, ships, everything. The IMF could impose a similar order on Greek assets held in the US. A fine example will be made of Greece.
And Greece will do the same within its borders
Well since the assholes couldn't get a war started, financial collapse is the next best thing I guess.
How do you think wars start?
Hitler didn't rise to power in a vacuum...
A government with enough balls to say you must be responsible, pay debts, be a team player and follow the damn rules.
To bad our government don't do the same for irresponsible states and cities. Maybe even freeloaders. This has some merit.
Are you high?
No, but my taxes are and most that pay them are tired of supporting those that don't. Depends on what side of the fence you're on.
I don't know whether to laugh or break a window.
You really can't be that naive about why you pay taxes. Can you?
He can. He's been "educated" in US...
Why don't you two geniuses explain it for us? If taxes do not fund defense and other public goods up to the limit of debt issuance what does? Otherwise fuck off malaka..
It goes to paying tribute to the Central Banking Bagel Medici?
Ooops I mean interest on "collective debt"...
Ever heard of the term "deficit" ? Probably not; it's too complicated for hillbillies like you...
Esoteric wool gathering dumbasses with a thin veneer of worldliness, preach on....
Nice try I suppose dipshit.
Stay asleep.
Waking up would likely kill you.
The Global corporations of the TPP will certainly use the same tactics against the United States of America's citizenry.
When TPP stands as the law, we Americans and our political independence are OVER! Corporate controlled proxy courts can overrule our legal systems and the laws our representitives pass. If a corporate CEO thinks a law or regulations will take a dollar out of their profit stream potential, then they will step in and negate any lawas they feel fit to. Under TPP, Corporations are entitled to "Expected Profit Streams", and regulation cutting into "Expected Profits" can be overruled.
Satan is here, Obama and his TPP are the beginning of the end of the last bit of American democracy and freedoms.
What will stir the ire of regular people is when the TPP forces those Asian nations (Americans probably won't do shit) to open their borders to immigration or face lawsuits from those corporations. We may have a war before then but that will certainly begin the civil war in many places.
"blow up the union once and for all"
The new Greek saga and Troika Dictatorship should give pause to all other smaller EU members. This unity is now no longer voluntary, it is becoming coercive, and that changes the game. Using real and transparent threats and coercion against a member state of the EU or Western Values alliance, well, that gives the lie to all the happy talk of a Union of Equals all voluntarily sharing in the prosperity of the EU paradise. Coercion has a blowback effect. In Spain, Portugal, Ireland, Italy and others, all eyes are on the Troika dictatorship and how far they will go to enforce the debt burden on Greece, and to over rule Parliament and defact make the laws of Greece.
While Germany claims innocence, they might recall the EU deals that basically forced Greece to buy billions of Euros of Germany military hardware! Greece buying tanks from germany, Submarines from germany, radars, fighter planes, and other weapons. Greece is now in debt to pay Germanay for weapons Greeks didn't want, but Brussels and NATO dictators shoved down their throats.
Only Iceland has been an independent free people. All the EU are now a bunch of slaves. It will grow worse as bigger EU states near default.
Lagarde should be in jail. Now, demanding payment with penalties is extortion. One more crime.
Greece is bankrupt. Goldman cooked their books. Papandreou, pademos and draghi all rubber stamped their entrance into the EU. Fuck em. Fuck em all.
"Lagarde should be in jail" Agree! Just for that fucking ugly face she ought to be behind bars as a crime to womanhood.
SHE? WTF
HE
You obviously missed the earlier article in which the following quote was found:
“Christine Lagarde and other high officials at the IMF contacted me before my testimony before the committee to remind me that members of the IMF are immune from prosecution.”
Louis XVI probably thought he was immune from prosecution also.
Actually, our newspapers are finally writting about thentheft of the western banks on Greece.
It’s like every zerohedge of the last few months have been copy pasted.
Not that anybody will give a fuck but if we get another banking crisis followed by a monetairy crisis I’m pretty sure everybody will now turn against the banks.
You can run but you can’t hide forever!
Healthy distrust of the banks wouldn't hurt any ordinary person.
I heard that you guys wanna freeze assets belonging to those peski Russians. Me thinks it's time for a bit of civil "unrest" in your backyard of a country...
Didn't Greece threaten to unleash migrants into the EU? Tit for tat I guess.
Maybe we should be more understanding of the Slave Mentality; Fuck-Off.
Bribery, Blackmail , Corruption and Murder keep the Gravy Train rolling for these Useful Tool's of Rothschild & Co.
Dark Helmet: Who made that man a banker?
Major Asshole: I did sir. He's my cousin.
Dark Helmet: Who is he?
Colonel Sandurz: He's an asshole sir.
Dark Helmet: I know that! What's his name?
Colonel Sandurz: That is his name sir. Asshole, Major Asshole!
Dark Helmet: And his cousin?
Colonel Sandurz: He's an asshole too sir. Banker's mate First Class Philip Asshole!
Dark Helmet: How many asholes do we have at the ECB, anyway?
[Entire ECB stands up and raises a hand]
YO!
With friends like these who needs enemies.
This is way too similar to the Abilene Paradox. In fact, it's a pretty close script. I'm sure the nice folks who decided the EU would be a great idea did a hell of a sell job.
Greek GDP per capita grew 50% faster than German from 2001 to 2008 ... it lifted the everliving fuck out of them for a while. Reversion to the mean is a bitch though.
The Greeks should have read Hayak's, "The Road to Serfdom" before conspirsing with GS to defraud the EU and join it. Otherwise, their borrowing costs would have reflected the 100x they have defaulted their debts (i.e. rates around 15-20%, thus completing the market feedback loop and preventing too much debt). The road to serfdom to all who haven't read it is debt. For individuals as well as states. Its enabled by central banks, fractional reserve lending, and fiat (non-commodity based) currencies. But the pusher (banks)/ User(debtors) relationship is symbiotic. No one forces you to borrow from your future, so don't. Ah freedom from debt, truly priceless!
But freedom is never painfree-so let the bank runs begin. As ye sow so shall ye reap. Beware of Greeks bearing debt all ye productive taxpayers of europe.
Read up:
The E.U., Neofeudalism and the Neocolonial-Financialization Model (May 24, 2012)
http://www.oftwominds.com/blogmay12/EU-neocolonial5-12.html
The Real Cyprus Template (the one you're not supposed to notice) (April 8, 2013)
http://www.oftwominds.com/blogapr13/Cyprus-template4-13.html
The Core-Periphery Model (June 11, 2013)
http://www.oftwominds.com/blogjun13/core6-13.html
The Lesson of Greece: Only Collapse Makes Real Change Possible (February 5, 2015)
http://www.oftwominds.com/blogfeb15/collapse-change2-15.html
While you're reading that road map to now, listen to some outstanding music:
Long Time Gone (Crosby, Stills & Nash - 1969)
https://www.youtube.com/watch?v=2DUqplxIcNk
1969??? Seriously???...you are old...and will very soon be dead!....enjoy!
And while you're at it, look up Pierre Moscovici.
If you go back to his Formative years, you may gain an insight as to his culturally-based Predispositions. A la "Tell me about your Background and Friends, and I'll tell you who you are."
dark star is my favorite csn song. but they have dozens that are great. stills is one of the best acoustic guitarist
This reminds me of another song. Don't know, why it comes to mind, now ...
Crosby, Stills, Nash & Young - 1970 "Almost Cut My Hair"
https://www.youtube.com/watch?v=4Lk2KHajp4Y
;)
Maybe the eurozone and the US are trying to push Greece into Russia's corner to start a proxy war in Greece. Something along the lines of allowing Greece to ink a deal with Russia to allow that pipeline to be built through Greece and then BOOM...here comes NATO saying Russia can't do that and then we have a war. I mean it is the US that is sending tanks and fighter planes all around that neck of the woods.
I know it sounds crazy but who knows...have you seen some of the shit that's been happening in the last decade? It really feels like the West is just itching for a war.
I mean it is the US that is sending tanks and fighter planes all around that neck of the woods.
^^^^^^^^^^^^^^^^^^^^^^^^^
Stupid comment even for a paid troll.
Russian tanks in Ukraine.
Russian submarines in other countries trritorial waters.
Russian threats to nuke Danish Warships.
Russian Military annexing Crimea.
Russian bomber running the dry run attack flights over neighboring countries.
hey Greeks...fat, drunk , stupid and lazy is no way to go through life!!
hey Americans....Fat, transgendered, transracial, drunk, high, wacked on SSDI's...Addicted to propaganda and getting fucked by the criminals running your 'government' is no way to "go thru life"!!
I would like to see a low grade nuclear attack on greece and 90% of its citzens burned alive in a fire from hell!
Well then, why not run for office?
If violence on that scale gets your rocks off..Politics is the only viable option.
All the seriously disturbed "folk's" are already 'in'.
You?
The EZ house of cards will crumble in its present form.
For the Euro to work, it should be relegated to a club of northern European nations, who are much more fiscally aligned. Expecting southern Europe to behave as the north is foolish. They have their own culture, and are not, and should not, be like the Germans. Let them leave and re-adjust.
This item is a piece of distorting propaganda worthy of the neocons. Contrary to what the author suggests, the European Central Bank has bent over backwards to try to forestall the crisis by lending, up to now, 83 billion euros in emergancy liquidity assistance to Greek banks to meet depositor withdrawals.
Whos money did they lend them again? Did they ask before they lent it to the Greek banks/gooberment?
Of course it is distorting propaganda. Highly regarded by the regular deadbeats and criminals now writing on ZH that seem to believe in wars as solutions.
Consider what is being negotiated. It is not really a Greek repayment. It is the terms under which Greece will get several billion in additional cash. Creditors will give Greece additional cash if Greece takes some baby steps to correct their social funding problems. The author admits that is necessary. Tzipass has been in office long enough to have passed the necessary legislation to restructure. He and his party refuse to address it.
The only reason that Greek banks continue to exist is because the ELA has been made available to them. It was the Greek National Bank which first warned the public about the crisis of bank runs and closures. That was a couple of weeks ago.
It is comical to read that the EU is based upon member trust which the EU has violated. In fact it was the Greeks who violated the trust from the date of entry. The previous Greek governments made promises - accepted based upon trust - which the current one will not honor. Now the Greeks are finding that losing that trust, being put on COD financing terms, is painful. The only message the Greek leaders have delivered is "Write Greece a Big Check Now." They have a big party to pay for next month.
Christine Lagarde, the head of the IMF, said there was an urgent need for dialogue “with adults in the room”. She added: “We can only arrive at a resolution if there is a dialogue. Right now we’re short of a dialogue.”
Two Faced, Hypocrtical, Bitch, what she means is shut up and listen to us or we fuck you!
I hope this folds a few krout banks over the table and they get fucked in the deal as well.
Putin should pull a black swan out of the bag and give the IMF diarrhea.
.
The only thing black that Puutie carries in a bag is very large dildo You should know that.
Sometimes I wonder whether Americans know the EU was an anti democratic vehicle from the very start, institutionalized by technocrats, politicians and their financiers without even the slightest regard for the population that has been suffering the decline of its purchasing power for 15 years now, immersed in a "new reality"- not a crisis, because these can be mended - which is irreversible our beloved leaders tell us.
The EU is not a coherent unit, not politically, economically or culturally.
Referendums with very clear outcomes in favour of halting the siphoning of competences from nation states to Brussels were bypassed in The Netherlands, France and Ireland. Every single EU member now has a Brussels - created Frankenstein, Zyriza in Greece being the foremost among these protest parties, exposing the rest of the parties as the establishment, be it social democrats, "liberals" or conservatives, which will form coalitions to keep the Frankensteins at bay.
All this to the detriment of small and medium sized businesses, the real job creators, and to the benefit of banks and multinationals.
What this is really all about is the elite imposing their will on member states regardless of the legality, morality or anything else. If anything should convince doubters about the motives of this globalist organisation, their treatment of Greece should help them make up thir minds.
This is global warfare on the poor by the 1%.