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Varoufakis Will Resign If Referendum Passes, Says Would Rather "Cut Off Arm" Than Sign
Yanis Varoufakis didn’t think it would come to this.
A little over a year ago, the Greek FinMin documented his thoughts on a possible Greek endgame, asking “what if Berlin and Frankfurt don’t budge and tell Athens to go jump off the tallest cliff”? That, Varoufakis said, was unlikely because “Berlin will prefer to accommodate the Greek government and to look with a great deal more kindness on the request for a debt relief conference.”
14 months and one referendum gamble later and Berlin is all out of accommodation and has indeed told Athens to “go jump off the tallest cliff,” which means that if the Greek people make the ‘wrong’ decision on Sunday by voting to accept the (no longer valid) demands of creditors, Varoufakis may be forced to do what anyone would do in the event of an adverse referendum outcome: pen a resignation letter and cut off an arm. Bloomberg has more:
Yanis Varoufakis said Greece won’t “extend and pretend” that it can pay its debts, vowing to quit as finance minister if voters don’t support him in Sunday’s referendum.
With banks shuttered and Greece’s economy hobbled by capital controls, Varoufakis said in a Bloomberg Television interview in Athens that he would “rather cut my arm off” than sign a deal that fails to restructure Greece’s debt. The 54-year-old economics professor said he “will not” continue in his post if Greece endorses austerity in the plebiscite.
The minister’s comments illustrate the gulf between Greece’s government, which swept into office on a wave of discontent about budget cuts, and the creditors who are threatening to push it out of the euro. European governments led by Germany have condemned last weekend’s decision by Prime Minister Alexis Tsipras to pull out of talks and call a snap referendum on the conditions for financial aid. Polls suggest it’s too close to call.
Tsipras, Varoufakis and their Syriza party are urging Greeks to vote “no,” arguing that Greece can remain in the single currency on better terms if they do so -- a contention rejected by creditors. A “yes” vote could lead to the collapse of the Tsipras government and fresh elections, a possibility to which Varoufakis alluded.
“Maybe we’ll change the configuration of the government because some of us will not be able to stomach it,” said Varoufakis, adding he would help ensure a smooth transition.
The idea that the government may soon have to be reshuffled echoes what we’ve said for months. “It is becoming increasingly clear that the Syriza show will ultimately have to be canceled in Greece (or at least recast) if the country intends to find a long-term solution that allows for stable relations with European creditors,” we noted in “Democracy Under Fire.”
So at the very least, a "yes" vote on Sunday could mean a shakeup in Syriza's leadership. Whether that means Tsipras will simply preside over a more moderate party with new coalition partners or that the PM will himself will be forced out remains to be seen, but either way, it's clear that this weekend's popular vote represents far more than a vote on the troika's proposals. It's a vote on euro membership, democratic principles, and apparently, on whether to whisk Syriza from office with the same fanfare to which they were inaugurated.
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I can think of a few others where amputation (from the neck up) would work well for the rest of us :)
Would Rather "Cut Off Arm" Than Sign
I'm thinking "Pay Per View".....think of the revenue.
If Yes gets it -- I hope Tsipras resigns and causes political chaos until a new elections can be had. Tsipras could make some speech;
"If Greece wants to slit its own throat, my government will not take a part in it."
Then ND gets it after the next election, will have to coalition with Pasok and maybe to Potami to pass round 3 and 4 bailouts, each with more austerity. They won't last a year in office before someone throws them out again. Then Syriza can run on what they really want to do.
If Tsipras passes the bailout himself, Syzira will never come back ever. It would be better for him to resign, like New Democarcy go down the same road that PASOK did, and then come from the back here in a few quarters again to really take Greece out of this mess.
I've been reading your comments for a while Haus, we agree absolutely
Thanks! I appreciate it.
that guy might wanna re-think driving around on a motorcycle.
That was my first thought.
So...has that preacher who threatened to light himself on fire if the gay rights issue passed the Supreme Court lit himself up yet?
We are talking the EU here.
He’d still find work… Harry Truman was always looking for an “economist with one arm”.
Mr. V...
Apparently SOME Honor Still Remains In The Political Realm...
At this point, it would be prudent for the Banksters to put a hundred million dollars into the "vote yes" campaign so they can continue their liquidation of Greece unabated.
But....I'm sure Banksters are a noble lot and would never do anything like that.
I'm afraid that by the time all of that supposedly happens, Syriza wont be the one coming back into power, but Golden Dawn. If the Greeks are dumb enough and decide to extend these bailout programs, with further injections of heavy austerity, then once they finally realize this is leading nowhere, they'll be dumb enough to support fascists out of desperation.
If the Yes side wins, then Syria will be ousted and TPTB will see to it that a Nuland-friendly regime is installed.
"Let them eat cookies."
"Then Syriza can run on what they really want to do."
Full communism, paid for by their EU neighbors, of course.
you got NO idea what Communism is. Yet another idiot who uses words without even knowing their meaning.
Really take Grease out of this mess in a few quarters... Dude, pass the bong
The question is: Is there a line forming for arm removal? And/or, will Varoufakis insist on removing his own arm?
How strange!
a politician actually willing to stand behind a stated position.
My thought when reading this, someone with actual principles who is not in for the game of power but because he truly feels the system is broken. If he steps down after a "yes" he has all my respect and it won't mean the end of his political career either if Tsipras makes the right choices. Just biding his time and Greeks will come back asking for more Syriza soon enough!
He's a narcissist who only wants the bight lights and aura.
Google: Narcissistic Feed and Narcissistic Supply
Once you understand Narcissistic Feed you will then understand every one of his actions. Riding the motorcycle (closer to the feed), doing English language interviews (larger audience for the feed), FinMin (with power comes the feed), choosing Marxism on college campuses (feed), shaving his head (peacock feed), etc.
He will not resign unless he can assure himself of a higher volume of long term Narcissistic Supply.
Congrats. Attack the man and not debate the issue!
I have spoken to the issue and listed the reasons for my argument.
He will not resign, which is the topic of this article.
He needs is feed. He will not cut his Supply unless he is assured of a greater amount...
stay away from the light!
Trolling in ESL is trickier than it looks...
Is that you, Langley?
Post from your mama's basement, so you can be closer to the feed...
HOLD YOUR GROUND!
Exactly! I logged in just to urge everyone to go and watch the original Bloomberg video http://www.bloomberg.com/news/videos/2015-07-02/varoufakis-on-greece-s-f... It says a lot more than this (biased - wtf ZH????) article portrays. Varoufakis always talks sense. Why this article only mentions a biased side Im not sure. Not the first time ZH shows to not be what it used to be eh?
Anyone got a knife to spare.
Got a chainsaw.....I'll even pay for shipping.
V for Vendetta
BS for bullshit
He is principled enough to know that Greece cannot pay the principal and that any promise to do so will turn out to be a lie in the end.
Why didn't the Greeks ally themselves with the Russians? They would have fared better in the end.
Such a move is fraught with danger for Greece and in any case Putin is not in a hurry to throw money into what may prove to be a bottomless pit. At the very least he may be waiting for Greece to become so desperate that they will sign anything Russia puts to them.
Do not think that Russia is some sort of a white knight.
They are not. They do not have unlimited financial resources and need to invest them wisely.
Giving money to a deadbeat is not a wise investment.
Russia will do business with Greece. They will even forgo profit if it fits some long term plan.
What they will not do is simply loan money to Greece. That would end up being not a loan but a gift.
On the other hand, if they determine that they can use Greece for leverage (having an ally inside the EU) they might be willing to pay for that.
It is all about business and resistance to NATO's encroachment.
Greece can serve both purposes.
Syriza was voted in to do what they are doing. If the Greek people vote YES then they are effectively telling the administration that they don't want them to do what they were voted in to do. The gov't officials should resign under that scenario.
I'm still confused with this idea that there is some sort of triangulation of debt servicing and austerity that works? There isn't. So if there isn't a way for the Greeks to repay those loans and still have a viable economy, why is it so important to pretend that there is? The EU is insisting that there is a viable deal, but none are put forth by their side? Are Greek officials expected to pretend that the deals offered are in any way viable for the Greek people? The US gov't would sell their people down the road in a heartbeat so at least the Greeks managed to elect someone with principles.
the triangulation point is for greece to fix their broken, corrupt government and tax system, then turn to Europe and say we fixed it, I'm sure at that point Europe would be giving the needed debt relief. But currently ehir saying forgive us our debt while we continue to run one of the most corruot governments in the world and do nothing to fix our own issues.
And remember austerity was decreasing the growth of the budget from 3% to 1%, some fiscial restraint they have shown.
,,, So if there isn't a way for the Greeks to repay those loans and still have a viable economy, why is it so important to pretend that there is? ...
Is it maybe the game theory to refuse impementation once again so that even more radical changes will be tried? Unless a country has control of its own currency, industry and institutions it cannot survive in the pool of sharks (multinationals.)
Imagine that Greece being an EU member is forced to import fruit? That's how insane being an EU member is. (Just a small example)
Typical Greek response of blaming everyone else.
Why is it that other members in the EU don't have these issues?
Why is it that Draghi, at each newsconference, labors the point that "Structure reforms are desperately needed in Italy, Spain, Greece, etc" "We can't fix structural issues in member states with monetary policy" ?
Say what you want about the EU/ECB... The issues in Greece are extremely obvious to those who have no "dog in the race". Greece means zero to me either way... Thus, I can plainly say that Greece needs MASSIVE reforms or it needs the Drachma. The Drachma, as it has for the past many many decades, allows Greece to rack up massive debts and devalue.
For those claiming to side with the "poor Greeks", please explain how the past Drachma escapades were better... A government that continues its profliate spending and when the debts come due they destroy the value of the currency. Bravo.
You are correct but that is not the entire story here.
The creditors know that Greece is a deadbeat. They have known it when they made those loans.
They are using this fact now to exert control and take over.
When a country is suffering it is much easier to strip them of their resources without firing a single shot.
NO country can pY the underlying debt...THAT $ the idea lol
All he showed is that he isnt a banker...the money changers must be rolling their eyez
Who is counting the votes?
Voting is a jewish trick.
"It's not the people who vote that count, it's the people who count the votes" - Lenin
Now ask yourself why the USA has institutionalized electronic voting with no audit trail.
The results are whatever they say they are donkey.
Who is counting the votes?
the one and only pertinent question
I will repeat it again. This fucker has secured his fame, career, book sales, paid speeches and Twitter followers for the next 30 years.
Good riddance!
You forget that the PASOK and New Democracy crowd had already secured their future for the next 30 years without any speeches or book sales.
Then again you may get your wish for a return of the incompetent traitors and then we will see how happy you will be.
I'm not wishing for that at all, if it matters to you. That doesn't mean that I won't call "fucker" when I see one.
+1, worth repeating: Varoufakis has secured his fame, career, book sales, paid speeches and Twitter followers for the next 30 years.
from his beloved "game theory" perspective, and his hardline marxist point of view, a yes vote is just perfect
he resignes, collects all kudos for it and nobody will ever be able to prove that he failed in anything (including collecting taxes)
all he then needs is T-Shirt sellers to print his face in the manner of Che Guevara to cap it all
Ghordius come on, how convenient to be cynical when it interests you, and be all naive when it comes to other Europe matters. Come on mate, be consistent. Varoufakis is giving Juncker (you?) and the likes what they deserve for being bankster slaves.
my comment on Varoufakis is about what he is doing for Greece, not his hilarious squabbles with Juncker
bankster slaves? interesting comment
in my opinion, it's people like Varoufakis that create debt serfdom
it's simple: he is all for Neo-Keynesian spending, budget deficits and so for more debt
you want to reduce debt? it's not enough to aks for defaults and restructurings... and then go on like nothing ever happened, and then repeat all this misery
if you want to seriously reduce debt and so "debt serfdom", you have to propose "living within your means" and balanced budgets
How about debt that mathematically cannot be repaid?
If we would stop paying pensions to 40- and 50-year olds, cut all the pensions above 1500, and sack 1/3 of the useless civil employees we would repay this debt in around 10 years.
The 40- and 50-year olds will not starve, they can still work. The older pensioners won't starve. The parasites will starve but I don't really mind.
Do the math Oracle, and stop spending your emotions on numbers. Emotions are for our loved ones and for God, not for the fucking numbers.
Im all for starving the parasites believe me (i'm greek), but you can't fix 40 years of corrupt asset stripping in one gesture. All these guys are saying (and yes i know they are KKE but remove the party affiliation hat for a moment) is that it's over banksters - you can't squeeze any more loan-sharky interest out of this corpse. You have to face it, people have to live first, even if it might cost you your bonus.
I'm sad to say that you're right.
In the end, the very fact that we are here shows we want the same thing. It's the details we keep beating ourselves about - meanwhile ......
the whole question of "how can this debt ever be repaid" is anyway bogus, or the question of someone that has impressive little knowledge about sovereign debt history
no country with fiat debt had ever to repay the "principal", the debt itself. that's for people, not countries
people have a limited lifespan. a country can claim that it will be around in 50, 100 or 150 years, and be believable
so the whole matter about sovereign debt is service of debt. which then leads to the budget, of course
even if a financial ministry was bent on repaying let's say 40% of GDP debt, he would usually put it in a plan going forward 20 years, i.e. by 2% per year
the UK once repaid debt worth some 180-200% of GDP. it took... 75 years
,,,,UK once repaid debt worth some 180-200% of GDP. it took... 75 years,,,,
Yes! with printed pounds! Greece can not print.
You just lost all credibility by making this statement
did I? at the height of this debt repayment, the Westminster Parliament passed the Bank_Charter_Act_1844, making the British Pound a quite gold-backed currency (except during crises, like the Panic of 1866)
that was, btw, a big victory of the British_Currency_School over their opponents of the British_Banking_School, which, in many ways, is similar to the more modern squabbles between the Austrian School and the Neo-Keynesian school
Oh, Ghordy the euro troll is back again ! Happy days ! Here's one for you: every country which believes that stupidity (i.e. "never had to repay the principal...") will end up bankrupt. It's easy to call the UK example, but you also have to compare the British Empire of 1939, with what was left of it 75 years later... Two different animals, I'm affraid. In the same spirit, it can be argued that Greece could pay all its current debts in 75 years, but by then it will be the size of Lesbos Island !
No shit, so let the Greeks "fix" Greece already and fuck off already!! If you want to provide help or charity for free, by all means do so. Outside of that shut the fuck up already.
G wtf? "like nothing ever happened"?? You are now rewriting history claiming there were never any cuts and concessions? V is not saying anything unreasonable, let's be specific here, what did these guys say that is unreasonable? Bullet points please.
you brought "debt serfdom". I just point out that Varoufakis is of the opinion that a budget surplus is the very last thing he'd do... on principle
a budget deficit means more debt. ergo Varoufakis is a debt... creator. a merry smith of chains, imho
I think Varoufakis is an Anglo tool and that you know it.
I don't think that the "economical ideology" of Varoufakis significantly influences the outcome.
This is about geopolitical interests on a much larger scale.
Just imho
In a way I would understand you play that game.
If we do not correctly define a problem, we won't solve it.
Do you think it would not be better to do this in public ? or not ? Against diplomatic wisdom?
yes, by trying to force it and frame it as a political instead of a financial and economic question, the current Tsipras cabinet is shifting many of those chips on the geopolitical table
we'll see
just found this :
http://www.nrcq.nl/2015/07/02/kan-griekenland-zomaar-een-andere-munt-ado...
(it is one of the main Dutch papers discussing a possible dollarization in Greece)
But you probably already contemplated that option.
Sorry
Wow I cannot believe that someone actually down voted that statement.
The last line is 100% accurate.
Yes, many like the fact that is is pushing back against the Troika.
That however does not mean that he is a guy to get behind long term.
Right now it is only a case of the enemy of my enemy .... In this case he is the enemy of the enemy.
the enemy of your enemy might still be your enemy, nevertheless. the whole Middle East is a testament to this human quandary
ND are what lead to this mess in the first place, using Goldman Sachs as a conduit for the fraud and the overborrowing....Syriza is trying their best to secure a deal in the most democratic way possible.
PASOK is a joke. They really fucked themselves shortly after the crisis blew out.
Who is left in Greece if Syriza goes?
Well, he did earn it. Fine with me, let the greeks fix greece and shut the fuck up already!
Because he personally profits off of the constant market yanking in his own accounts. He would much rather this saga go on forever.
I suspect that after the revolution, this statement will come back to haunt him...somehow.
One down
Its amazing he is an Economics professor.....wow
It doesn't really take brains to be an economics professor. Just being a member of the ruling political club is sufficient. Also a knack for scamming and keeping the ponzi functional by solemnly lying about clearly bogus numbers and payment terms.
hell i would hold out for the total default if i were him but then i would get accidently nailgunned in a hot tub so screw that noise.
He must have placed a major bet on NO at Paddy
For The Bookies The Referendum Outcome Is Clear: Paddy Power Pays Out For "Yes" Voteshe can still order Greek Central Bank to print euro banknotes and disperse them all over greece :)
At least they'll still have the Euro and that's what's really important right? It's crazy to watch people vote for volunteer servitude.
They will keep this show going as long as the US media will saturate the US news with their bullshit and lies because it scares the American people and prepares them for what this Goverment has in store for America.
He knows it will come in Yes. By throwing the vote to the people he and Tsipras washed their hands of it. A clever move. The vote must be Yes to stay in; there are no alternatives. My only question is, will the Monday pump be a good setup to go short.
The vote will be YES because it is rigged. There is no doubt about the outcome.
Wow so he will comit suicide because he is scared not to die. Very confusing world. Markets up metals down???
Nice job wheredafakis (my pension you lout).
His job was to probably bring greece to the brink, leave it dangling and say, look at me, a man of principles, I re-sign.
dog-eared playbook being acted out by hams....ironic that this is happening on the greek stage though, they had such a good and easy life before being civilized, they had "time" and thought up all kinds of crazy stuff.
Like irony.
Read Gurdjieff's take on the Greeks in his magnum opus, Beelzbub's tales etc.
I disagree ORI. He has guts. Something that most people lack. He's saying enough of the death by a thousand cuts, watch the whole video. I hope the greeks find the cojones to vote NO. This will bring short term pain but long term gain, as most people here know.
Let the banksters feel some stress too eh?
I dont think Yani is a phony, but the rest of the EuroCrats certainly are.
Everybody knows Greece will not repay their debts, anybody pretending they will, like the Troika, are dreaming and living in illusions. Of course TPTB want to make an example out of Greece to show the other insolvent nations to toe the line or else.
The shitshow that is the EZ must continue at all costs to these parasites.
the squid has won. they control everything. the ecb makes all the political decisions in europe now. even germany is controlled by the usa which in turn is controlled by the fed gangsters. the bankers won, a worldwide coup.
The crony banksters have Brussels and Washington by the balls, via bloodless coup. All while the dumb sheep think they are still free.
China and Russia, not so much. Hence why Russia and China are maligned and attacked by this money worshipping cult.
If my personal credit card debt exceeds my ability to finance that debt
Assuming there's no collateral held by the creditor (which there isn't)
I simply cut the card in two give the figurative middle finger and go about and rebuild.
Why do the Greek people NOT understand this simple math ?.
Everyone talks about sacrificing for the younger generations and the children.
But as we see in Greece, that's nothing more than motherhood and apple pie speak, polite dinner conversation talking points and nothing more. As when the chips are down, the older generations are perpetuating the status quo for themselves at the expense of their children and their children's future.
Greece isn't the only place this has or will play out either.
Impressive.
Should avoid the bike though. We need more like him.
Oh yeah, its personal.
One has insight other is pompous bureacrat.
A politician with morals and integrity? Who let this guy into the club?
What will actually be worded on the ballot? (considering deal's already off the table)
He is doing the wrong thing.. looks like he has gotten in the Bruce Willis frame of mind. He did not self appoint, so he should ask to be sacked and then it will be the responsibility of the Prime Minister to do the right thing. And, that is the right way of accepting people's mandate.
Varoufakis, you did your job... you have nothing to run away from... because it won't take a minute for some to totally assasinate your character.
http://just-a-thought-from-thinair.blogspot.com/
I assume he means his Left arm.
The title of this article made me think of this video
http://youtu.be/unkIVvjZc9Y
A yes vote will mean immediate elections , Varoufakis will be the first to go then Tsipras.
Greece will be engulfed in civil war.
A yes vote ensures exit from both the Euro and the EU .
Best gift to the Euro and the German people would be a NO vote.
Guentzburgh said it folks on 2 July .... lets wait and see :)
totally agree with you. I hope both the Greeks and Germans can see this.
You say this like you think it is not part of the ZWO plan unfolding here .........
I'll be kind and will borrow him a knife or a saw.
"...borrow him a knife or a saw."
Who's doing the lending, the Greeks or the Germans?
sorry the proper word is lend him. In this case the lendin is just from me. I'll try to be kind to the people and I wish them the exact thing they wished for others or themselves. It very depends, what I prefer....
Cut his own arm off...?
Bold statement for a man who likes to cook dinners at home and play the piano (like the commoners in greece).
Joking aside, I really like the guy and hope this all plays out in a way that shines a positive light on him and can be made an example of for other politicians...
And he's not playing game theory. He really will cut off his own arm.
HAHA!
Man this stuff makes great theater. No idea who is telling the truth or what right side of left I'm supposed to be cheering.
This chap may be a tenured bookseller, but if it pisses off the Troika then I'm all for it (the headlines anyways)!
The current probabilities suggest that he is toast;
http://www.bettingmarket.com/varoufakis.html
Greece can have anything it wants if it would only issue the arrest warrants for Blankfein and Dimon.
Say NO to ODIOUS debt and get your game on to rebuild the economy and NO it won't be easy but it CAN be done and you will stand straighter and taller because of it....
He's a politician.
He is in it for money, fame, and power.
If Greece votes 'no', he gets a hard slog fixing the unfixable. It is unfixable because of people's starting viewpoint...that they should receive more than they genuinely earn. The best he could do is print Drachma's like mad, and then blame the inevitable result on those evil Germans (or Capitalists, or Aristocrats, or Muppets, whatever, you get the point).
If Greece votes 'yes' he gets fame now, followed by money, and THEN gets power either from the influence conveyed by the fame and money, or by subsequently being asked to fulfill his marxist totalitarian, Stalinist dreams to 'fix' the situation he vocally opposed.
Don't impute this guy has moral motives. If he had moral motives he would never have volunteered for politics in the first place.
Power over others is a litmus test. Asking for it is a moral failure.
This guy is just another self-interested swollen head.
THE VOTE IS RIGGED, TSPIRAS IS A DEEP COVER SPY WHOSE JOB IT IS TO MAKE THE VOTE APPEAR LEGIT SO THAT THE EU CAN SEND EU TROOPS TO BOLSTER THE GREEK RIOT POLICE AGAINST THE MASSES WHEN GREECE IS PLOWED UNDER ITS 'REFERENDUM'.
Tsipras should have made real plans for this day and really walked away from the talks from the biginning. His biggest mistake was wanting to stay with the EU and not putting NATO membership on the line.Merkel won the poker game where there is nothing in the pot.
Wow...don't you think that is a little drastic..I understand that the Greece economy is in trouble..including the health system...even if people do not agree with your position it still is not a good idea to cut your arm off...
From Ghordius:
the whole question of "how can this debt ever be repaid" is anyway bogus, or the question of someone that has impressive little knowledge about sovereign debt history
Greece's debt is not sovereign. Eurozone debt instruments are housed in private commercial banks, outside of Greek law.
I've been pointing this out for some time now. Never let your debt point outside of your law.
In the Eurozone, virtually all money is issued from Commercial Banks. In a sovereign country, with its own money, the situation is different. If sovereign owes the money to itself, it is like one pants pocket owing the other. Or, maybe like the Wife owing the Husband even though they have a mutual account.
In this case, with Greece, it is not the same pants pockets.
>If sovereign owes the money to itself, it is like one
> pants pocket owing the other.
I've heard this said many times and it simply makes no sense. You might as well say, since we're all part of the same country, no loans made between citizens and between institutions (and between institutions and citizens), all part of the same country, then it's just "one pocket owing the other."
Given that he's one of the reasons they're where they are, he should probably cut his arm off anyway.
Here is a ZH link for a post I did yesterday. It explains how the Greek tragicomedy began, and where the debt instruments and their associated credit vector.
Without understanding this, and Euro political ramifications, then it is difficult to understand why Var. would threaten to cut off his arm.
http://www.zerohedge.com/news/2015-07-01/greece-explained-2-cartoons#com...
Hey Varoufakis, I've got a rusty saw I can lend you......
Damned if you do, damned if you don't.
What good is a "cut off" arm?
Cut off the heads of the entire government, especially the PM.
This would show the Greek people and the world how committed the government was.
Business as many smart Greeks know is about what comes in minus what goes out. You enjoy the difference.
The issue is past administrations haven't done the maths "the difference is not to be seen".
The EU have slopped the difference on a plate, and every ones happy, as the administration hasn't had to do the hard work.
This current Government has hit the pause button, and I have great respect for that. LOTS OF MISTAKES HAVE BEEN MADE FROM BOTH SIDES, and the leverage in Europe makes it worse.
If Sunday's pause button is pressed, and the debt stream returned then Europe is down the toilet, as no one pays!
Syriza captured the hearts and minds of the repeatably betrayed Greek citizens by all previous administrations. Prom G-paps act of treason transferring the risk of the institutional bond holders via the MOU back to the people and from an unsecured loan to a secured loan under English Law, Venizelos PSI agreement and Samaras's all tax and no reform policies. Previously all of the above parties engaged in cronyism and irresponsible fiscal policies that led to the unjust rise and the consequential fall of the total economy.
The charismatic sweet talker Tsipras was at the right place at the right time and capitalized on the opportunity presented. He had a lot of the required qualifications needed with the exception of one: as he publicly stated, he had no knowledge of economics. Varoufakis joined along and brought validity to this experimental coalition that was supposed to navigate Greece through its minefield of debt and problems , to brighter and better days. Tantamount to this quest was their guarantee that the Troika and creditors had no choice but to embrace and accept all of the administrations terms.
Varoufakis was perceived as a mastermind of economics and negotiation, a professor of game theory (blah blah) of great stance and posture and soon after was seen by others as an ostentatious pompous narcissistic sociopath, some of his deeds and actions can attest and validate both views.
I am assuming that Varoufakis G.T> , choose the all irrational counterpart route assumption but aside from Junkers perpetual bending of the truth the others acted rationally . Aslo he came out swigging even though being the weakest player in the group as he should have played the perceived weak hand. His stance antagonized the counter-parties from the get-go. Nevertheless even-though I did not vote for anyone and I am not on the big government camp, I wanted the administration to succeed, even partially for the benefit of the nation and its people. I thought that all the posturing was part of the negotiating tactic. My support ended the day of the IMF default. All bets were off. Now the tricky part: Tsipras, cool calm and collected said he will not break a sweat,, and asked for the referendum which had huge ramifications, not only for the livelihood, but also for the lives of several citizens here and abroad that cannot get proper care, putting their life's at grave risk. At a point and juncture that the deal was almost done, he through out the baby with the bath water, for the hope of a better deal. Better by 10-20% perhaps. Junker said 60 million which I find ridiculous and untrue because I don't think that The Troika would risk it all for for 60M in an 350B total package. He is really trying hard to redefine the term mentally challenged.
So Tsipras and Varoufakis decided to shut down the nation and put people in harms way for a couple billion?? , and from a significantly worse negotiating position, regardless of the referendum outcome. Apart from this being a great example of the failure of Representative Democracy, (these two words should Not be in the same sentence) were anyone can say anything and do anything they want, without accountability and consequence. This is an insane decision. To risk a 100B(MC) (AUSTERITY) program FOR 1-2B and trigger cap controls , risk bail in contribution and 200Billion debt callback because of the big D. Who can make any sense of this risk/reward with not only money at risk but human life at stake ? This indicates either very poor judgement and lack of basic common sense, or ulterior motive . Again with no consequence to the decision makers.
As far as Varoufakis arm severance I wonder if he does not resign before the referendum and is forced to sign into law the referendum result will he stick to his knifes? But I guess that is Tsipras job Since he is the Prime minister and he will sign in into law. So at the end Varoufakis did facilitate the process if there is a yes outcome. Albeit still maximizing his own personal utility function. Win Win ???
Though I don't want to contemplate the consequences for our integrity in the case of a NO vote outcome .
I hope the damage ends here and everybody gets out of this mess with all their limbs attached.
E-Poulos
The EU made greece demolish their printing presses before joining so going back to the drak will not be an easy option.
I still think a "yes" vote will be rigged so someone more 'accomodating' can be installed.
So where's that Varoufakis music video?
Perhaps they could add a new scene with V cutting off his own arm at the end (and feeling no pain)?
I suspect even if 90% of the Greeks vote "No", "Yes" will prevail. ECB said it will do whatever it takes. This probably includes fixing an election if needed.