This page has been archived and commenting is disabled.
After "Deal", Here's What's Next For Greece
Now that Greece has capitulated and offered up its sovereignty in what can only be described as an unconditional surrender to Berlin and Brussels, you might be curious as to what the most likely next steps are for Greece, its government, and its people.
For reference, here is a quick summary courtesy of Bloomberg:
WHAT’S NEXT?
- The Greek govt is set to renew a bank holiday and capital controls decree which expires today
- The ECB’s GC is expected to discuss ELA for Greece’s banks
- Eurogroup meeting later today will work on Greece’s short-term needs and discuss bridge financing
- Greece has accepted to legislate on 4 action points by Thursday July 16, and another two by July 22, according to Malta’s PM Muscat
- Then Greece would come before the Eurogroup and euro- area member states would decide to open or close the needed negotiations that would let the ESM to disburse funds, Muscat says
- Dutch PM Rutte says it could take weeks to negotiate Greek ESM aid deal
WHAT DOES IT MEAN FOR GREECE’S BANKS?
- Greek banks are to be recapitalized by Greek asset fund and Tsipras says the deal protects the stability of the banking system
- ELA will stay in place all the while that another bailout is in the pipeline, Mizuho’s Peter Chatwell says in e-mailed comments
- ECB ELA will most likely stay in place until at least Wednesday, pending Greek ability to legislate the list of prior actions, Oxford Economics says in a note
WHAT ABOUT TSIPRAS AND SYRIZA?
- Support at Wednesday’s vote from Greece’s pro-Europe parties will come at a cost, when the timing is right, Barclays says
- It makes more sense for those parties to let PM Tsipras bear the political cost of capital controls while triggering elections would make default inevitable, plunging the country into a complete paralysis for the next 30 days
- Don’t entirely rule out a coalition partner change (with To Potami), and believe this situation will eventually lead to new elections after the summer
- A new unity govt or an early election very possible, Rabobank says
- Given political fractures in Greece, passage of the proposal through parliament is far from certain, Richard Cochinos, strategist at Citigroup, says in client note
- Decent likelihood of a Greek cabinet reshuffle; govt could possibly fold on reforms
- Tsipras may seek to expel those opposed to a deal with creditors from the party as he no longer commands a majority in parliament, Reuters said, citing people familiar
- “Constructive” centrist parties will likely continue to support the government coalition, Barclays says
- Snap elections necessary but can’t take place now, Greece’s Labor minister Skourletis says
WHAT ABOUT ITS CREDITORS?
- Germany, the Netherlands, Austria, Slovakia, Estonia and Finland all need parliamentary approval to open negotiations on a new Greek program, an EU official said last week, while France’s Hollande said French National Assembly to vote on the deal on Wednesday
- While Marcel Fratzscher, president of the DIW economic institute, says it will be very difficult to sell the deal to German voters and Germany’s Greens say the deal means Greece will be stuck in a recession, a govt lawmaker said it is likely the German coalition will approve the deal
- Rutte says he’s unhappy he has to break an electoral promise to Dutch constituents on no further Greece aid
- The deal is so tough there’s a better than even chance that the Finnish parliament will authorize the negotiations, Berenberg’s Holger Schmieding writes in e- mailed comment
- Even if a deal can eventually be reached to keep Greece in the euro area, there will be long-term consequences, the damage done to relations between France and Germany may prove irredeemable while Germany’s suggestion Greece be granted a short term exit from the single currency shatters the principle that euro-area membership is irrevocable, Oxford Economics says
IS THERE ANY AGREEMENT ON RESTRUCTURING GREECE’S DEBT?
- Over the weekend, an IMF source told Reuters said that if other creditors couldn’t agree on a haircut, grace periods on interest payments could be combined with lower rates and extended maturities
- Tsipras said the negotiations had managed to gain restructuring while Merkel confirmed interest-payment grace periods and longer maturities will “be discussed once there is a successful evaluation of the new Greek program”
WHAT ABOUT GREXIT?
- Tsipras says summit outcome averts collapse of banking system
- Risks of a Greek exit have reduced in the very short term as the ECB should remain supportive as long as prior actions are passed in Parliament by Wednesday and talks are headed in the right direction, Barclays says
- The chances of a Grexit have now fallen below 50%, UBS WM write
- The deal and Wednesday’s vote may stretch the Greek govt to breaking point, forcing new elections; the month’s hiatus that would ensue while elections took place would almost certainly see Greece ejected from the euro area, Oxford Economics says
»
- 98506 reads
- Printer-friendly version
- Send to friend
- advertisements -
Slavery
Social media sites throbbed with outrage. The hashtag #ThisIsACoup soared to the most trending in Europe, in Greece but also in Germany where Der Spiegel described Berlin’s demands of Athens as a “catalogue of horrors”, and to the second-highest trending worldwide.
In what a senior EU official described as an “exercise in extensive mental waterboarding” to secure Greek acquiescence to talks on a third bailout in five years worth up to €86bn (£62bn), Merkel and Hollande had pressed for absolute certainty from Tsipras that he would honour what was on offer.
The terms are much stiffer than those imposed by the creditors over the past five years. This, said the senior official, was payback for the emphatic no to the creditors’ terms delivered by the snap referendum that Tsipras staged a week ago
http://www.theguardian.com/world/2015/jul/13/greek-debt-crisis-tsipras-r...
Take a break.....see you in 2 weeks bitchez!
Please tell the people to stop voting.....this is no democracy.
We're bankers....we're in charge....and we run the freakin show.
Do you think the ECB may decide they were too hasty and maybe missed taking something? Wondering what part of yes they'll find troublesome.
That little can they're kicking has grown to about the size of a 10-yard dumpster at this point.
The most beautiful, young Greek women to be sold off as slaves and concubines.
Fourth Reich baby.
Sure enough Finnish government says "no"
http://www.focus.de/politik/ausland/faellt-die-eu-auseinander-finnland-s...
Finnish government could collapse over this.
“Tsipras Has Just Destroyed Greece”
I wonder if we could get the Athens Team over here to negotiate on behalf of the Free Shit Army?
I mean when they are have some free time.
After reading some of the comments from greeks on the street wanting to stay in the euro, I say fuck 'em. They don't care tsipras went against the 'no' vote, then fuck 'em all.
Whats next is no surprise, they will be slaves yet again like most of their recorded history.
What's next? Greek Spring, complete with Molotov Cocktails.
This is why Varoufakis resigned , he knew what was coming
The "no" vote was a show
... TSIPRAS finally showed his true worth via his anagram RAT PISS ...
TSIPRAS, "Molon Labe...please!"
How are we slaves?
We got gay marrage and free healthcare!
Hell....we even got rid of the Dixie flag.
This is like....win, win, win.
Again, the only way out for Greek people is to riot and reject the deal...
The Greek people must take charge (since their politicians have no balls) and they must return the EU membership card with a "Thanks, but No thanks and please find our default notice attached". Then start printing Drachma's and get on with life...
Why would the EU want Greece people as slaves? To what end? At what cost, at what continued cost? Are the Greeks exceptional workers/warriors, have some hidden wealth the EU is after? I see Greece (now) as a liability to the EU not as some benefit?
As long as the Greeks don't destroy the debt and keep playing the game, the EU is happy.
Debt=Money. Debt goes boom, so does the Euros created with it.
pods
Exactly. Default vs. No Default
In this case No Default is worth 80+ billion euros to the EU - roughly a third of the debt involved...
Nuts !
BUT THE MARKETS ARE UP TODAY!
I mean seriously the folks "containing" this thing still have to confront the reality of the Banks reopening.
I think this is it for "can kicking."
I don't think the Banks will ever reopen and now will the Athens Stock Exchange.
Once folks realize "his is just keeping Tsyprus on the payroll" that's it.
Folks will start draining savings from all the Banks in Europe and converting to gold and dollars.
That folks is the bulls-eye. In a world where our debts are the oligarch's assets, defaults are the precursor to declaring WAR!
The wealth of the world's elite is the debt of the nations. Greece defaulted on their loans long ago, but the creditors refuse to take those debts off their list of "assets", thus the kabuki dance will continue ad infinitum.
This circus has nothing to do with the Greek People! It's all about pretending the debts are payable and preserving the FAKE wealth of our masters! It's smoke and mirrors, as the yellow brick road leads to a curtain hiding a Fake Wizard who lives by deceiving the masses. Their nakedness will be revealed shortly!
Greece is strategic with control of key shipping lanes. It is also a buffer zone to the rising BRIC alliance.
Let's also not put Greece in the same category as Puerto Rico. Greece has exportable products, shipping, gold deposits, etc. - tangible assets. This is what the banking fraud ponzi scheme is all about. Creating debt from nothing, crushing nations and then stripping the real assets. Read "Confessions of an Economic Hit Man".
Greece never existed so can not really be destoyed.
A 'country' is a legel construct (patriotism) used by the powers that be (politico - bankers) to control, and to steal from, the people.
......patriotism is the last refuge of a scoundrel.....etc
Greeks won't do shit now cause GREECE HAS NOTHING LEFT IF THEY CAVE INTO THE TROIKA!
So fuck it and Grexit and be better off.
Fuck the EU is what Greece will say.
Here's what the Greek communists of the KKE are saying:
http://m.fightbacknews.org/2015/7/11/greek-communists-blast-new-austerit...
Irony is, the Euro project has delivered more to the Greek FSA than the Greek communists could in a billion years.
Easy job for them since these lazy bums can just lay down and take the shot!
Where is a CIA based color revolution when you need one?
Lets hope the True Finns up in Finland can cause a stir.
Finland does not posses veto power.
Sure, but the True Finns can collapse the government, get new elections going, and campaign against the Centre Party as "they wanna give the Greeks *another* bailout" which would likely send the Finns into a governing position where it could chose its coalition partners. Finnexit.
Haa haaa this is when the real fighting takes place when Tsipras has to go home.
Long Anal Lube...
so that is the current translation of Molon Labe. I always wondered what it meant.
the olive oil will have to do.
You can use spit in a pinch.
It's called "fisting". To me it doesn't look like any fun, they might have other thoughts.
Have fun Greece.
And that says it all, the BANKING system is the cancer and he caved into keeping it on life support.
SHAME on you for going against the will of your people.
You are a traitor and will go do in history as a betrayor. The birthplace of democracy is also now its deathbed because of you.
Yup, it is sad when they kill the patient trying to save the cancer...
"kill the patient trying to save the cancer" -- Bravo, I cannot find a better description.
The complicated Greek crisis, as a dramatic production. I think this explains eevrything.
Cast:
EU-Drug dealing pimp
Greece- Addicted crack whore
Banks- Crack
Pimp: Where's my MONEY, bitch? Yo been runnin' wild, an now I wonts ma mony! Cough it up!
Crack whore: Fuck you! You aint the bossa me!
Pimp: No mo crack, bitch!
Later...
Crack whore: Please, baby, gimme some crack...
Pimp: Yo gown be a sweet bitch, or a nasty bitch?
Crack whore: Ima sweet bitch to you baby! I just needs a LITTLE crack, hon, pleeze...
Pimp: On yo knees, an show me how sweet you gonna be!
FINIS
Hey, dirrrtay, Baby I got yo money.
https://www.youtube.com/watch?v=gKw5mBh4rYs
Wasn't it already revealed that during the original bailouts 90% of these funds went to the banks. Only about 10% made it to the people. Yet they cave to make the banks whole again? Wow, this is like livin' in crazy land. The people get massive austerity to cover for the banksters bad bets, derivatives and market manipulation schemes. If I was one of the banksters I definitely would not want to be anywhere near Greece. Maybe hiding out on a small island in the Carribeans hoping they never figure out my location.
What we may see is a black economy popping up where they shake hands with Germany but then start printing their own money. Anyway time will tell.
Just glad I don't live in Greece.
Averts the collapse, but even a bunny gets it;
Bugs Bunny: ..... "Have you ever heard of the inalienable right of the sanctity of the home?"
Banker; I am so sorry to disturb you. Can I offer you a pie ...... (magically conjures pie) .....
Bugs: https://www.youtube.com/watch?v=P9jHa-y24hM
As if there was any doubt....now the Greeks can burn it to the ground.
Total capitulation nets Greece 50-75 billion. EU should be proud that they stood hard against extortion. Loosing is winning.
kick the can 4.0. so this will not be the straw that broke the camel's back...or at least not currently acknowleged as such.
lets see how greece reacts.
Greece could start by shipping 50,000 Syrian refugees to Frankfurt.
Would not be surprised if one of the "conditons" for this $$ is for Greece to accept half of Syria. That, plus give lots of islands back to Turkey. Heck, maybe even rejoin a new Ottoman Empire.
On the other hand, I don't put it past the Greeks to fail to implement everything they promise to do. In the end, no matter what they do, the socialist experiment that is the EU will not be allowed to fail--under any circumstances.
Don't worry about Tsipras, the EU has already printed a passport and insured his family safety to get out of Greece.
.
"This, said the senior official, was payback for the emphatic no to the creditors’ terms delivered by the snap referendum that Tsipras staged a week ago"
That's how a psychopath thinks.
That's how a psychopath thinks.
There are only four things certain since Social Progress began.
That the Dog returns to his Vomit and the Sow returns to her Mire,
And the burnt Fool's bandaged finger goes wabbling back to the Fire;
The Gods of the Copybook Headings
Seems fairly obvious that the EU strategy here is to push for a deal so humiliating and painful that the Greek parliament cannot support it, thus passing the blame for the inevitable Grexit back onto the Greeks themselves.
It's working so far.
Imagine Greek parliament actually passes this through. It would probably surprise Merkel herself.
You can't stop sheep who want to walk to the slaughter voluntarily.
If the Greek politicians sign up to this ritual humiliation then they fully deserve the lynching from the Syntagma square lamp posts that they will undoubtedly receive in due course.
Cue in Golden Dawn, the last hope to end the humiliation.
Desperate times will call for desperate measures.
The Euro is destroying Europe before our eyes.
I love how you love supporting the fascist nazi murderers party... And all those upvotes lmfao...
Greece got Greased.
Syriza are a bunch of amateurs. Now think of the German boot stomping on a Greek face, for as long as they are in the EZ. That should give you a pretty good picture of where things are headed for Greece.
You have to love how they had Gold ready to drop on a deal AND also on a Grexit......now that is control of a situation.
as someone here in ZH said once: "vee veel print zee euro, vee veel lend you zee euro and you veel pay us back viz your country"
Oh yes...... it's not the yield they're after ...... it the capital.
The shit show never ends.
I am starting to see great similarities between Tsipras and Obama. Both promised much and gave hope only to totally betray the trust of their people.
This leads to a serious suspicion that Tsipras was as much a plant as Obama was.
Then there must also be great similarities between the Greek people and the American people.
The truth is that both the American people and the Greek people sorely needed to believe in a new alternative. Both candidates were young, presentable, good speakers and without political baggage.
The one great difference between Greek and American society though is that violence and lawlessness is nowhere as bad in Greece as it is in the USA.
Copping it up the arse if it ain't obvious
And Zh again missed the train....markets are up sharply from last week
Dax is up 8%!!
but the only one that forecasted a meltdown is ZH....and again we get soaring stock prices....
Central Banks are in total controll despite what Zh writes....
That's great. You must feel wonderful that the whole world is fixed.
It helps to be a non thinking whore.
Next week will take care of it's self.....it always does....until it doesn't anymore.
Go ahead and sell your kids out.....it's fun!
Pray do tell, what will happen next week. Or are you just a one week wonder?
By your reasoning Fukushima is also under control.
You are only confirming the fact that the markets have lost all logic. Up is bullish and down is even more bullish. In fact anything is bullish, now what does that tell you? At least ZH calls a spade a spade.
You have a problem with numbers. Dax is up only 1.2%
Fucking Jews.
Here we fo again.
What is the news here?
I don't see anything here other than "the Banks remain closed."
Until you get the numbers on what is in the Banks (which no one is divulging) you'll never get this "thingy" to work.
Greece with do nothing because "this is how Mom gets her medicine."
See ya in three years Greece, if not sooner, right back where you were a week ago, but, the hole will be even deeper then.
They won't last 3 months.
I think this crisis will spread over all of Europe in the coming months, so if i was investing funds i could not afford to loose i would try to avoid risk as much as possible.
I would probably be cosidering buying solid assets, like gold for example in the near future.
Its quite clear that the EU bunch is impaired and incapable of solving even the smallest problems.
They are short term thinkers, and those who think like that build themselves little short term empires.
I do too.
Once folks realize the Banks will not reopen ALL DEPOSITS IN EVERY BANK will start to be withdrawn. Get a tax revolt of some sort I would think too.
The police state formerly known as Spain has general elections in December. At least those will provide some indication of the level of anti EU sentiment. Just don't speak too loudly or you'll end up broke and in jail.
Coffee break everyone. See you back here on Wednesday.
all the scum still has to go through greek parliament.
guess tomorrow the first cracks will be visible, on friday a new round of talks will start about start of new negotiations.
Bankers to Tsipras: "Hey, nice to have you. Now, get the fuck off our boat."
Season in now open for EU to deal with Spain, Portugal and Italy. Should be good for at least another Trillion.
DVDA
After the "deal".
"to fully normalize working methods with the Institutions, including the necessary work on the ground in Athens, to improve program me implementation and monitoring. The government needs to consult and agree with the Institutions on all draft legislation in relevant areas with adequate time before submitting it for public consultation or to Parliament."
Yeah, right.
This goes through parliment.
Time to break out that 12yr old bottle of ouzo. Well played Greece. I thought you were going to show backbone for a minute, I should know better by now! :) It is time to sells off your assets to pay the creditors. You are a disaster Greece. A complete and utter disaster. Let this be a warning to every single fucking human fucking being on the planet.
Sell your roads, water, rail, ports, increase taxes, VAT, reduce pensions. You are a vassal. You are a province of the EU bureaucracy. Sell your future. Sell out your children.
ATTENTION ALL GREEK YOUTH, BORROW SOME EURO FIAT FROM YOU PARENTS AND BUY A ONE WAY TICKET TO CANADA OR AUSTRALIA.
The road to slavery begins with debt.
If banks and bankers don't run the world then who does?
The prince of the air has the lease...but he doesn't own it.
"If banks and bankers don't ruIn the world then who does?"
Fixed it for you.
Democratically elected governments should be running the world for those who have chosen them to do so.
Their objective should be to ensure freedom, fairness and prosperity for all the people, and work towards building a civil and constructive relationship with all other nations.
The template that could be uses to create something like that could be something as simple as common sense.
Shape-shifting reptiles?
Europe should understand that agreements made under duress are problematic in the eyes of the law. At some future time, both the government and opposition MP's will be tried for passing the new arrangements given that the result of the referendum were quite quite clear.
In any case, the conditions are so onerous and humiliating that there is little chance that anything good will come of the new agreement.
By that time of course the 50 billion euros worth of assets acquired at fire sale prices will be worth considerably more. The question is whether the creditors are allowed to retain only 50 billion euros of any proceeds of sale or whether they walk off with the full profit as well.
Tsipras is the pussicat . He decided to kick the can a bit longer . The Greek people that fought for independence nealy two century ago would turn in their graves . All of their fighting was for Nothing !
While I hate the ECB, IMF etc. in the end the Greeks themselves are to blame for living way beyond their means and joining a club for which they are obviously totally unfit for. All the corruption and graft in the Greek system is not coming from some alien race, those are all Greeks.
the elite lived their way. i doubt the "normal greeks" ever got anything of the "smart money" flooding the land
Nothing new. Since when does the general population truly participate in bogus wealth creation? Here is the US...where did all the QE money go?
This is an historical opportunity for Golden Dawn. If the fascists can show in practice
that they are the only parties in Europe which still support national soverignty and
dignity, they can start a movement right across Europe. (Not saying it's a good thing,
just noticing. Probably Golden Dawn noticed too.) Then the EU will have no one to
blame but itself when fascism again takes over the European continent.
They will get Golden Dawn outlawed before the next elections.
Zippy - ROTFLMAO "Then the EU will have no one to blame but itself when fascism again takes over the European continent."
The EU is one of the faces of fascism now!!
What does the Donald say about this?
Donald says '''We shall over comb''
Crazy hair....smart guy.
He's kickin Jeb's ass....that's some funny stuff there.
If he continues to gain traction he'll need some more bodyguards
Anybody thinking the problem is solved is delusional. The Greeks are still the Greeks...they will once again try to deceive and weasel their way out of any meaningful reform.
The Greek people are somewhat to blame. A lot of them are too stubborn to see Greece needs to leave the EU and want MOAR freebies for nothing. If they were smart, they would see it is time to walk away.
Think geopolitics.
No way they will let Greece leave. Expect dead bodies if they try.
The Greece has no politician that has the gut to reform the whole welfare inside out
Wait... there is no aid package in place.
This is telling the Greeks to increase their taxes, sell the state-owned industries, and slash pensions SO THAT negotiations can begin. AND in the meantime, the banks can re-open
Time for the only form of democracy these people really understand: BANK RUN.
He is an even worse traitor than Papandreou. A worse liar than Samaras. A worse piece of shit than Venizelos. He deserves to swing from lamposts with the others, preferrably skinned alive first, Game of Thrones style.
I recorded this morning off my SAT dish
Worth a watch
http://www.dailymotion.com/video/x2xtumy_rt-crosstalk-chaos-theory-13-ju...
I recorded this morning off my SAT dish
Worth a watch
http://www.dailymotion.com/video/x2xtumy_rt-crosstalk-chaos-theory-13-ju...
If Greece was smart, take a lesson from what happened in the US after 2008.
Take one of your islands that no one or very few are living on and move your Capital there, that will be the old Greece that owes all the money.
Rename the rest Grease. A new country, no debt.
The little island, the old Greece will owe all the money and own nothing, Europe can fight over that.
The new Grease will own all the assets the old Greece used to have and the Troika won't have a say. With Grease's military with a little morale support from Russia and China, no one will bother them.
If General Motors can do it, why not Greece?
Greece isn't GM. If the US owned Greece, then yes, they could do this.
Just wait for buyers remorse to set in.
Bankers win again. No defaults, no depressions, no recessions, no derivatives blowing up, no grexits, no crashing markets, nothing but green pastures for all the starving people with no jobs to graze in.
Ok, enough of this Greece bullshit. We need out next doom and gloom topic to cry about all the way to DOW 20k.
"...all Europe may be free and the life of the world may move forward into broad, sunlit uplands." Winnie C. Not sure if it was before or after he fire-bombed Dresden, though.
western economies, like western politics and banking/finance are becoming less and less relevant, so yes, you are correct.
they are so little relevant that they are omnipotent.
LoP you may be a good agriproduct dealer, you may be a good man; but are you a realist?
The Oligarchy holds the real economy of peasants, landlords and coops by their NUTS !
It takes decades to bring down a despotic construct; and this one is now a global tentacular beast of awesome clout.
Schauble triumphantly wheels at the head of the parade through Athens after freeing German money in danger that has been residing in Greece.
"There is more German money in danger throughout Europe. We have taken measures here to protect it in the Sudeten.... in Greece" - He shouts to the crowd
Unlikely! I think he did prefer and still prefers a GREXIT
You are a genuine bigot, aren't you? At least you have read some history books at one point, so there is some hope for you perhaps
Negotiations with George as Tsipiras https://www.youtube.com/watch?v=nLLxXr4U7Gg
How long before the livid mob catches up with Tsipras?
Folded like a cheap suit......
What's next? That's easy, insolvency and civil war.
The outcome is a complete disaster. Greece losses its sovereignty and prospects for a better future. To the contrary the Greek economy will sink faster. EU looses all appeal and another 80 billion. Tsipras has demonstrated that he is an illusionist, understands nothing about the economy and about negotiations. He is the prototype of the looser who believs he is a winner. Many aspects of the 3rd "rescue deal" are still not quite obvious at least not to the public. Particularly the future of the banks in Greece remains a big question mark. Among the legislation to be pushed through parliament until Wednesday is the adoption of the new EU bail-in procedures, a sign, that the Greek population is at risk of loosing their accounts to Mario Draghi - the money-eater residing in Frankfurt. If that happens Syriza is toast and Tsipras can ask for exile.
yes, a "lose-lose", no one is solvent either.
Yes, it is sad but not unexpected. Yet another proof of The Plan B in action. Before Blaming Merkel or Tsipras, Folks, you need to explain what justice should be and why.
The Death of Capitalism is in progress, but I have to move on.
http://just-a-thought-from-thinair.blogspot.com/
Capitalism died a long time ago.
if there won't be massive and violent protest in Greece - only means that Greeks have not hit bottom yet
A plastered over compromise; short term; based on the delivery of Greece's blood-drained cadaver by the "traitor" -- or the astute Demosthenes-- according to where you stand--to the German Oligarchy.
It must be remembered that like Tsipras, Demosthenes was an enemy of Macedonian Oligarchy, and paid with his life. Tsipras, having played at Demosthenes has now swallowed the stone in his mouth...
Yes, undoubtedly Hollande's veto of a temporary Grexit-- a slap in the face of the famous 5 Wise Men, Euro skeptic, ultraconservative, German committee-- has achieved that distrust in Europe.
Mutti has to play the game of covering up the fracture between Euro's two main pillars, as she runs the show like a daughter of new Kaiser, thanks to her hold on Euro finance. But she is now on a fragile ship as she doesn't have France's or UK's nuclear clout to shout at Pax Americana : get out and take Nuland with you! She can't, she is tied to Germany's past...and Nato !
Delors's legacy is now being torn to shreds under the pressure of Private Oligarchy run West.
Solidarity? Democracy? ...Its not on the cards.
The world stays on the financial Titanic with NO VISIBILITY and no Info, just hype and tripe, being officially distilled to the people by those in COMMAND of the ship. General Good is now a laughable concept. Its every Oligarchical clique for ITSELF. May the devil take the hindmost.
Is Europe now going to know a north south Guelph Ghibelline war as the medium term outcome of the "greek pebble" in their shoe?
I think Tsipars woke up with a severed hores head in his bed .
EXACTLY! see my comment a few below
Mr. Bill says: "Gee Whiz Mr. Leader, getting a triple-ripple butt plug dipped in Ghost Pepper sauce and shoved UP your ass is not much of a prize to come away with from the negotiating table...."
Greece didn't give their sovereignty in this latest deal, but still have yet to claim it back.
At this point, perhaps just delaying the inevitable is success in itself. After all, would not slowing a huge meteor headed for earth be success?
The outcome may be certain, but the time is not.
This agreement says the Greek people for the foreseeable future will be slaves to the debt (short of revolution) that gave them such “rich’ entitlements. The old expression “time to pay the piper” says it all. With this agreement the Greeks are being forced to acknowledge and accept the unpleasant consequence of spending all that money on socialism.
This is not over. The Greeks have a long history of default stretching back several 100 years. I fully expect the backlash from the Greek people to be explosive possibly with riots. But all that to little avail…
The bottom line is solid for all of us. It shows us all that democracy is dead in the world and we live or die at the whim of politicians and banksters…
Wrong!
You do not get it.
The money was (unfortunately) not spent on socializm.
The real money (real value) was sent to US-American/German/French/Dutch/British banks.
Those few cents, which have been spent in Greece, that is just for a beer&sausage, for the plebs.
It was spent on both.
Too much...the guy runs an election on defying the banks...has a referendum, defying the banks....then sides with the banks....what a piece of work he turned out to be. Greeks should hang his ass in public and exit the EU asap.
Politicians lie?
I'm SHOCKED.
The Ebla people elected rulers from the merchant class to one term only and this appears to be the first known democracy.
https://markstoval.wordpress.com/2012/07/17/the-ancient-city-of-ebla-a-s...
If googl EBLA DEMOCRACY Y'LL can get picture how eurocentrism, with Greece as cradle, is fake story. BTW Medes had also non hereditary elected rulers. Just 1000 BC. And vedic times were communalism
So much hates for the EC. Terrible.
They just paid a hefty price to be the pitchmen in the Bi-annual Dwarf Tossing contest.
Everyone says that the Dwarves should too humiliated to play but it keeps the lights on for a few months and they always show up again when the money runs out.
The folks paying to watch must think it's worth it or they'd refuse to pay and it saves the Dwarves from doing some other hard work to make ends meet.
These public shamings must stop.
Celebrate Dysfunctionality.
Wait until the goddam Useless Snakes pushes thru TTIP.
Towns in Belgium are already declaring TTIP free zones.
America and their corportations and banks are hellbent on controlling the world.
Belgium and Holland are always big on making pointless gestures.
Anyway, better that the US run the world instead of a bunch of Islamo-Headhunters.
Says the cocksucking piece of shit, Shovelhead. Americunts will push their crap food and culture on the world.
Victoria Nulands offer he couldnt refuse is the winner. he now can rest a little easier knowing the blackwater langley boys wont be paying him a visit
I wonder wether he dies in a bed or with his shoes on...like Kennedy, or like Duisenberg, heart attack in a swimingpool.
I see hundres of new meetings...lunches..swanky dinners..hours in front of a microphone...the Politicians love it...
tpshitstain
Here is signature of new greece's financeminister
http://nadhlad.com/sites/default/files/tsakalotos1.jpg
.
.
"Greece has lost its sovereignty!!1!!1!!eleventy!!!"
BULLSH!T
Greece lost its sovereignty when it took the money in the first place...
The bank owns your house until you pay the interest and principle...remember?!
So, to all the Leftists, Anarchists, and America- and Western Civilization haters:
GROW UP.
You wanna try to rationalize Greece's and your theft?
GO RIGHT AHEAD.
Your criminality is only "justified" (sic) in your mind.
You are correct, however you forget something.
Who ever gave the lenders and borrowers authority to put a country in the position Greece is in.
It is important that governments no longer have the authority to borrow money to make ends meet. It is about time all governments learned to live within their means without taxing their citizens to death.
What do we get from government that is worth so much? It is a good question to ask yourself.
There are some things government is best able to provide, but when I see expenses that government incur I ask myself, what is going on? Do we really need a study costing millions on some topic which really has nothing to do with governance or is a benefit to the people except for those getting paid to do the study?
We just observed the absolute insult to a country's peoples when their vote was disregarded y politicians in Greece and Europe, as if the peoples desires were not important or even on the table.
Next time a loan's documents are signed, make sure the people who have to pay it back agree to what the loan is for and the terms the loan is given under.