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What Assets Did Greece Just Hand Over To Europe: "Airports, Airplanes, Infrastructure And Most Certainly Banks"
The Simpsons had it right all along:
With the provocative and dramatic Greek "time out" language pulled from the final finmin and summit draft language, the two most humiliating aspects of the latest extend and pretend "deal" for the Greek people will be the return of the Troika's (surely we can call it the Troika again as part of the Greek capitulation) IMF mission to Athens, and the escrowing of some €50 billion in Greek assets in a liquidation fund.
Granted said fund will not be domiciled in Luxembourg as was originally envisioned, but Europe will still have control and first refusal rights over what are technically Greek properties, in the process Athens handing over about 25% of Greek GDP (and sovereignty) over the Brussels.
What are these assets? For the answer we go to the horse's mouth, Jeroen Dijsselbloem, who laid out the holdings of the proposed Greek privatization that would be sold off as follows: "it still is going to be an independent fund, valued at €50 billion which can be airplanes, airports, infrastructure and most certainly banks.”
Bloomberg quotes the Eurogroup finmin president:
They will be brought in with the target to privatize those in the coming years, but we will take our time for that.
We then hope for proceeds of EU50 billion, but that will be clear later.
The banks first have to be refinanced from this aid program, but after that I take it that they’re worth money and then we can sell them.
The proceedings are aimed at lowering Greece’s national debt.
In other words, Greece will be liquidated piecemeal to repay creditors. In even other words, the proceeds from the Third Greek Bailout will not only not reach the Greek people, but Greece will have to sell itself in pieces to top off the creditors' funding needs.
Dijsselbloem concludes: "That is good for Greece, but also good for us. We are in the end the ones from whom the money is borrowed."
It was not exactly clear why this would be good for Greece.
So for all those curious, here are some of the "assets" that already have, or soon will hit Ebay.
The only caveat: when (not if) Greece defaults again, and it is time to collect on Europe's secured DIP loan (which is what the Third bailout really is) collateral because not even the French socialists can push for a fourth bailout, good luck trying to repossess Aegean islands or the Santorini ferry terminal.
Oh, and for those struck by a case of deja vu, the €50 billion privatization "plan" is nothing new: it was first proposed by the IMF in 2011. This is what happened next:
What does the IMF say now about this latest privatization proposal? "Not realistic."
#EuroSummit has doubts over 50 bn€ privatization target. IMF don't think it's realistic. - EU source
— Jarno Hartikainen (@JarnoHa) July 12, 2015
Which may be a problem for Greek banks since as the summit deal envisions, half of the privatization "proceeds" will go to recapitalize Greece's insolvent banks. Proceeds which the IMF projects will be about €2 billion until 2018!
This is a problem because with this implicit admission that the Greek financial sector will effectively never receive the needed funds to remain stable, any ELA increase by the ECB will be promptly used by Greek depositors to yank as much money as they can, awaiting the next weekly dose of monetary generosity from Mario Draghi, as both capital controls and the Greek bank run remain a permanent fixture of Greek daily life.
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The people vote NO. The politicians are the big cowards. Of course the people bear blame for voting for them.
At least they put up some fight when the IMF came for them not like my country did in the seventies...
The one thing that can be taken away from this weeks episode of this Greek Tragedy, is that VOTING is part of the problem.
The turnaround time from lie-to-proof they were lying, is speeding up.
There are no solutions in the ballot box.
Plan accordingly.
Voting? Thats another godamn illusory crock of shit.
We have been voting in the USA since '76. Look who we got today.
This is a sore point with me, so I reply.
Alexander The Great, wasn't Greek. He was Macedonian. He spoke Greek, but only to learn from Aristotle and for business (for Greek was the language of business in those days), his mother tongue was Macadonian, a lost language that what is only know is that it wasn't anything Greek like. Furthermore his parents weren't Greek. In short, Alexander was not greek.
In fact, Alexander The Greek, hated the Greeks, and persued to conquer them by finishing the job that his father Philip started, and conquer them he did, and he never stayed in Greece. As a proud Macedonian, he came from the region of Europe that is largely known today as FRY Macedonia. Yes he was born in Pella, which is located in Greece today, but in those days it wasn't Greek, kind of like Troy, it was Greek back when it existed but today its Turkish. So if the Greeks say that Alexander came from Greek Pella, then Trojans must be all Turkish, which they aren't! Yes there is also a Macedonia in Greece, its a province. But it has nothing in comparison with the country Macedonia. Many will argue that Alexander was Greek, but how can he be greek when he conquered the Greek nation, and his mother tongue was not greek. This is an extremely touchy point among the greeks but facts are facts.
Further to your point about the gene pool, you are correct but for other reasons. Greece since Alexander's time has been conquered many times, most notably the persians and ottomans. And yes the ancient greek dna is quite severely diluted. Most people in greece whould be horrified by their real origins.
In short, Alexander The Great was no more Greek than Cleopatra of Egypt was. Fact is, Cleopatra was 13th generation removed from Ptolemy, Alexander's General. But still many Greeks like claiming her as Greek. A less relevant point is Alexander I, an ancestor of Alexander The Great, he tried to get into the Olympic Games but was refused because he wasn't Greek. Although some political agreement then allowed him to enter, which isn't uncommon since there were non Greeks that were "entered" all the time. Many say that Alexander the Great was a proud Greek, not true. He was a proud Macedon. But don't let that mean a Macedonian of today. For the Macedonians of today are Slavs, and they came and conquered that area of the Balkans in the 7-8th centuries. The Ancient Macedonians are were well and truly extinct by then.
One last interesting point I would like to add that history books/textbooks and professors of history lie about all the time. Alexander The Great went on a conquest not to conquer the lands he did. He didn't not care about all the lands he conquered to India. For you see, Alexander The Great was on a quest. Because he was so vain, and he was incredibly vain, he didn't want to age and grow old and die. He learnt from ancient writings, thanks to Aristotle, that there was a magic fountain that could keep him young. Alexander went searching for this fountain, and was so possessed by this quest he brutually laid waste everywhere he went to seek this Fountain of Youth. I will leave this story here, but I will add this, the underlying story that this is based upon, and what Alexander found, is very interesting. It connects to the origins of civilization and the strange history that is written on the cuneiform tablets found in Iraq written about a time 3,000 years before Alexander. Its a fascinating tail. I suggest you read about it. But I don't recommend any Greek to do so, they will not like what they will learn about Alexander or what their Greek culture is really based upon!
I couldn't help writing this post, for its a personal interest of mine, and I am slowly writing a book on all this. Truely its a fascinating tale, but stay away from the textbooks, they all lie, otherwise if they told the truth, all those professors of ancient history will be out of a job. Its kind of like Egyptology, the dirty secret is that its all false. The truth though is even more interesting, but you will never learn it in a university. Seek it out, its fascinating, and its more truer than people realize, I know this for a fact ;)
Very interested CP, do you have some links to light the path? Thnx..
"Reserve not met"
Simspons are always right!
Nailed 911.....just sayin.
....and Ukraine, guitar hero, voting machine fraud and horse meat entrees.
So, which islands will Monsanto get ?
The ones they themselves will declare GMO-free cause they are not eating that shit.
Older Greeks are literally selling the country out at the expense of the young Greeks.
They are being shackled to the yoke of Mommy and Daddyopolous to have their output seized and spent by those who have voted over the years to mortgage Greece into penury.
They must watch their parents - who are only supposed to loan Greece from their youth - carve the place up like war victors.
Youngsters - stop voting for lefties! The full-service state is for Mommy and Daddy only!
You think you're getting that state too - NO! - all you are getting is the bills of that state that has already been allocated.
It's a Ponzi scheme - and you're the mugs who will hold the bag.
The parasites have overwhelmed the host.
Lesson: Never, EVER, trust a lefty.
Lesson: If you're under the age of 40 - GET THE FUCK OUT OF GREECE RIGHT NOW & STAY OUT!
I couldn't resist.
Those under 40 have never worked and gained experience, so they can not leave.
Those over 40 have worked but are now in early retirement and have no need to leave.
So there isn't anyone worthwhile or worthy to leave Greece.
Hard words, but it is closer to the truth than not.
Quick, what's the name of that website where college coeds sell their body for student loan repayment money?
The Greek brothels will be packed with coeds@!#@! Mama-san Merkel will lead the way.
If you have your money in any Greek banks still then you deserve what is obviously coming.
Agree but what about retired people collecting their pensions? Granted half of them are probably younger than i am and the other half of are on paper centenarians already long since dead
"I guess he had it coming"........
.
"We all have it coming kid"........
What more evidence do you need that the banks are going to simply take it from you?
Once the EU and IMF are off the Greek backs ... just renationalise everything. Also when IMF and EU representatives object invite them to Greece to discuss the matter. Once they are in Greece arrest them and threaten to throw away the key unless all debts are forgiven..... simples.
Stripping those kinds of assets will ensure Greece never ever recovers.....Ummm, well, that all seems to be going to plan!
Other members of the Euro-zone must save themselves.
Expel Germany.
Yes, a Gerxit will make Germany's export more expensive so other countries can become more competitive.
What ELA? I don't see no ELA.
The last time Germany was this popular was when the allies discovered Auschwitz.
nice; a real joke; can't stop laughing.
In the end, Greeks will always be Greeks and of course, Germans will always be Germans.
Right up to the time when bombs are raining down on Berlin.
If Greece is no longer a country by any standard definition, but rather a colony, does it still keep a seat at the UN?
There will be blood. Should be. From the guillotines.
This is disgusting.
Look! We put some words on paper!
When everything means nothing, integrity turned to toast we will have more words on paper!
Did Corzine pledge assets to a liquidation escrow fund??? I don't recall.
So when do they rename Greece to New-Germany.
Germany must have needed a new soap factory.
Hi, nice to meet you. Where you from?
Oh, I'm from Athens, Goldman Sachs. You?
A quaint little town outside of Berlin, JP Morgan, but now I'm doing some contract work in Donetsk, Lockheed Martin. Nice place.
+1 Meat. Truer metaphors have rarely been put to use. - from London, Rothchildland.
Mechanically separated meat (MSM), mechanically recovered/reclaimed meat (MRM), or mechanically deboned meat (MDM) is a paste-like meat product produced by forcing pureed or ground beef, pork, turkey or chicken, under high pressure through a sieve or similar device to separate the bone from the edible meat tissue
Greece got cornholed, got irony.
Of course this is assuming (like they have been assuming of the last 7 years), that there will be economic growth, and that these "assets" will retain the value.
Of course this is assuming that these assets will evaluated fairly; after all, we all know how honest the Greeks are in their bookkeeping and how modest they are in the value of their possessions.
Of course this is assuming that during the next years that Italy, France and Spain do not collapse like Greece has.
Of course this is assuming that there will not be another 2008 financial crisis that nobody anywhere is expecting anytime soon.
Of course this is assuming that Draghi is going to do a good job of pumping and priming all the stock markets so that they will increase the value of those assets that need to be sold. Boy oh boy, the ECB is going to really open the printing presses now, all those countries need to make sure that Greek assets are going to have nice values when they come onto the market.
Of course this is assuming that Greece doesn't lie, cheat, hide, swindel, betray on this deal! Wow, that will be a first in 200 years. Hey Paddy's can you offer a book on that? I'd put some serious cash on it.
Yadda yadda yadda. And once again the communist/socialist/liberalist merry-go-round, goes around.
Been here before, seen and lived the movie, family have suffered this time and time again, I know the outcome, the hard working people get screwed...and the bums and thieves get it all.
Thank god, my grandfather is dead, for if he wasn't, seeing all this would surely kill him with rage and sorrow. How many people have suffered to these bastard communists, how many more must suffer before the world has true democracy and rewards those who believe in a meritocracy, Classical Libertainism isn't dead as long as I live, but a new dark ages is coming to Europe, George Orwell knew this well, and the fight for Freedom and Liberty is only just beginning.
Damn communism and socialism!
What's amazing to me is how many of these dolts here on zerohead were fooled by that commie Tsipras. There's one born every minute.
Same as we're fooled by the dozen other names fiftybagger uses to post comments
Told you. That is the goal of The Great Red Dragon; to own the earth in fee-simple, as stated in that 1889 book. Create funds out of thin air and loan it for legal title, knowing it can not be paid off. Sigh. No one really cares.
Again am mystified by ZH. Since when does it advocate moral hazard and since when were they all foregiving and understanding of people that recklessly wracked up debt for years. When it comes to Europe this website's ideology is hopelessly inconsistent
Never underestimate the comraderie of socialist mooches !
Says the asswipe who probably is on food stamps or collects a US govt pension.
I'd like to know who actually benefitted from the loans Greece took out, and how much of their debt is interest, fees, etc. My suspicion is that the loans benefitted mostly the elite, and only marginally benefitted the common people. Yet the common people are the ones on the hook. Also, if we were talking about loans of actual MONEY, and not just electronic currency that can be created by the banks on a whim, then I might be a little more demanding of the Greeks. So no, I don't think the ideology is that inconsistent.
I have heard here on ZH that 89% went to banks for interest and only 11% went to Greece. Of that 11%, I am guessing that it all went to politicians for their pet projects. Pensions for older "Grecians" probably got squat.
So basically, future slavehood for 11% of incompetence.
Since they no longer own them. Burn the structures to the ground. It may take a few hours before German firefighters get their hoses attached.
Man....all that control for just printing up (from thin air) and loaning some shitty euro currency. The ECB is one hell of a pawn shop.
Asset Fire Sale!
One day only!
Everything must go!
Even stuff that is nailed down!
So come to The Big Greek Bargain Barn, where you'll get cash for assets...
what other option do these people have, they will always be on the hook, til death and past. Bankers are truly more of a threat than standing armies.
The only choice left is burn everything to the ground, any thing on that bank list. See? nothing left now..You must forcibly remove the parasite, thats it.
You cant collect on ashes, well knowing how slimy bankers are they probably would ask for all the ashes and probably put it in mcnuggets and baby food.
http://www.hulu.com/watch/33844
Land of chocolate!!
I give up. Fuck those Greek pantywaists. Brussels can have the whole godamn country in fee simple as far as I am concerned.
Stoopid Germans/Dutch Boys .... you can't tow a Greek island home .... like it was an ice berg .... Trix are for kids .... silly wabbit !
"Athens has also agreed to sell off state assets worth €50bn, with the proceeds earmarked for a trust fund supervised by its creditors. Half the fund will be used to recapitalise Greek banks, while the remaining €25bn will pay down Greek debts."
Banks are institutions where the profits remain in private hands and the losses are socialised.
Can anyone explain?
It's quite simple, actually. The banksters buy off the politicians, who then pervert the entire legal structure to allow the wholesale rape of the populace by the banksters.
There is no cure for psychopathy; it's physological. Their brains are wired differently; the areas of the brain dealing with empathy and compassion are non-functional. Banksters and their bought politicians are all psychopaths at this point. Only one solution. Will humanity rise up and throw off the psychopaths? Only time will tell.
The war is going to start very sympathetically with he best interests of everyone in mind.
How quickly Germany forgets..... The Treaty of Versailles, which all but guaranteed WWII to follow after WWI.
I don't think we should be losing any tears over the late corrupt Greek state. So it turned out in the end it was an egg-shell, beholden to whomever wanted pay up. You think DC is any different?
as Singaporeans would say: wah lan eh. why donch just exit in the beginning? sibei jialat (this is terrible). now u let them poke your backside lah. song bo (pleasurable)?
Indebted bankster slaves.
Goldman Sachs hooks the Greeks and the rest of the banksters reel them in.
Hey, after all, they're doing God's work.
Well at least Greece knows there will be a lot of germans now coming to visit "their colony" in the next few years!
This outcome is far and away even crazier than anything I could have imagined.
If the Greeks don't riot on this deal, they will literally be owned by the banksters.
First they make the loans that they knew could never be repaid, now they own the isle.
Greatest theft of all time. And not only was it legal, but the Banksters cleaned up on both sides of the deal.
The Banksters never seem to lose.
It is one of the wonders of the universe that moral courage is so rare.
In exercising is you can die only once.
In failing to exercise it, only the admirable and enjoyable parts die...leaving the suffering, moldering, self-hating husk to whither away for decades, achieving a death a thousand times more cruel than the alternative.
Heard the EU mouthpieces talk about this as being merely "the end of the beginning to the negotiations" as the Greek, French, and German parliaments need to agree to the bailout deal. The expectation of changes to the minutiaes of the deal is also high.
Disgusting isn't it? Stripping the assets off an indebted, poor nation and adding to their burden of debts knowing full well they can NEVER be paid off. If ever there was a reason for a nation to go to war, the seeds of hate and resentment have well and truly been planted this day.
In retrospect, Schauble gifted Tsipras a great chance to walk away with his head held high and save his nation from generational debt servitude. The old ugly cripple with his acid tongue and temper may have been the only one with the foresight to try to kick Greece out of the euro to save all concerned from the future consequences of this event. Reminds me of the Lord Chamberlain in Akira Kurosawa's Sanjuro who was pug ugly and he knew it but had more wisdom than his peers.
Who are you trying to kid? Tsipras is on the payoffroll.
On the payroll, blackmailed, whatever - that does seem more likely every day. I've tried to make excuses for him from day one, but my trust was misplaced.
The Greeks have been given the right to revolution. Please, God, let it happen. Tsipras will hang like a bloody rag.
One can pray. I'm so mad I'll be buying silver today and lots of it
The Greek socialist burocrats .... spent the money .... left ordinary Greeks in the gutter .... ordinary working Greeks and German workers .... should unite .... against their spend thrift socialist masters !
"How do you go to war .... slowly .... then all of a sudden !" Paraphrasing Hemingway
Fucking cowards! Never liked that country, never will respect the people.
It's funny .... socialist pimps getting sanctimonious .... over their Greek slut !
If I was a German going to Greece, I'd work on my Greek accent.
We will not say that Greeks fight like pussies. We will say that pussies fight like Greeks.
Any deal had to have the Greeks participate in the success of the solution. This kind of deal makes the Greeks renters/aliens instead of landowners/citizens. So failure is the endgame for this deal.
What is in it for the Greeks?
It is somewhat remeniscent of the deal the Allies made with Germany after WW1. Would have been smarter to give them some stake in their rehabilitation.
Tsipras should be hung by it's citizens. The people voted and he ignored it. Flip-flopping after being convinced by the Eurocrats.
Ahm gonna get me a Greek ISLAND!
I hope there's no reserve on the Acropolis, I've always wanted a shot at one of those.
Dear Greece:
You may have been the creator of what is called democracy, but we are the creators of fiat, the fake money system. And thus we now own the entire world.
Your Talmudic Overlords in Israel
Good, you found a way to work the Jews into this mess ! LOL
Rather quite easy as they are the architects of the controlled demolition of Greece.
Why can't the Greek government just learn to say NO?
Like Steven Seagal as Nicola Toscani in Above The Law said a long time ago:
"Nobody would ever believe me if I told them the bankers were the CIA."
Germany just put Greece on a long train journey to somewhere not nice.
"Germany"? No.
"Netherlands"? No.
Any other "creditor nation"? No.
The tax payers of those countries are paying this "bailout". It's genius: The greek people are stripped of assets, and the people of the "rich northern europe states" as well.
Being stuck in a "nation vs. nation" paradigm is EXACTLY what is not going on. This is a supra-national heist. A robbery.
All the money and the hard assets it is supposed to represent, flows ONE WAY.
Exactly.
All purchased with "money" created out of thin air.
"By her magic spell all the nations were deceived." - Revelation 18:23
Well,,, they do get to stay in that marvelous democracy - The EU - . and that is more important then their pride, their nation, their children, their souls.
I am begging ZH not to run greek article after greek article when this comes to pass again in the next few years.
Edit: And this will make the other wannabee tyrannical banksters even more aggressive as they witness the passivity of a People bought out for such a trivial amount.
What an absolute disgrace!
What a mockery of democracy, and humankind in general.
There's only one way out now. And that's not pretty.
I doubt the greek will realize this though... That this "referendum" was the last possible peaceful resolve. If the "politicians" pass this turd, it's just slavery on the road ahead. Nothing much else.
I'm almost finished with my new Greek invention .... I'm converting a golf ball cleaner .... into a Garlic peeler .... looking for start up capital partners !
The elite can now legally raid Greece. What a spineless leader the Greeks have. They will never recover. Some times the only viable deal is no deal. Banks and banksters will make fantastic profits on this "aid" and the Greek populous will suffer even more once the austerity measures hit so the banksters get their margin. The entire system is going down the toilet anyways so they should have held off and waited for it instead of letting themselves be raided before the real hard times hit. After the other boot slams down they will have nothing.
Great, build casinos, big boxes, paved pathways and public pisseries on all of those islands now!
The greeks only have themselves to blame. They wanted the €, they chose to live well above their means on borrowed money and they still want to stay in the disaster that is the eurozone.
Lord Rothschild, what should we do with the Greek Babies?
Hmmm, I do not have a sacrifice scheduled until the next full moon. Put them in the nursery to allay suspicion.
Yes, My Lord.
We have far succeeded the most imaginative plans by the Confederate General Albert Pike.
You are not worried about The Christ?
Haha, Lucifer is moar powerful.
But your portrait of Lucifer fell off the wall and crashed last week.
Coincidence.
This deal reminds me of the movie Deliverance... Schauble probably used feta cheese as a lubricant.
Tsipras flew too close to the sun, and liked the heat. Those IMF offices are pretty nice I bet, and the accomodations during all of these negotiations were top-notch.
He's the newest member of the oligarchy. He trotted his people out for an election to symbolize populist rage, then cashed out. Now he's just biding his time until he can write a book, then hit the speaking circuit.
Meet your new savior, same as the last savior.
Why not sell the Greek islands today and pay off their loans...instead of dragging this tradegy on...just more financial gimmicks for the "kick the can" game...
FUCK YOU modern Greeks!!!!!
My grandmother was put to the wall twice by the Germans to be shot for supporting the Greek rebels in WWII. She would be ashamed of you!
You have given away your soul and the livelihood of a generation without a shot!!!!!
You would rather let the Germans come in and take over than grow a pair and generate enough national pride to run your own country.
For fucks sake pick up a pitchfork and revolt against the fuckers that got you into this mess in the first place!!!
Ahh fuck it, just go serve the vacationers some coffee you bitches...
YOU WANT TO KNOW HOW NAZIS are made? THIS IS HOW NAZIS are made!!! (And communists too).
Trying to upvote you .... but, can't .... suggest playing Greek victim card at the beginning of your comment .... then slam the sluts at the end ?
I do enjoy slamming a good slut in the end but that plays into the other Greek stereotype.
Hate to be like I told you so, but I fucking told you so. It was always about the Greeks begging for another handout and the rest of Europe kicking the can. You can stop with the "300" bullshit now cause Leonidas isn't coming to Greece's rescue. They'll burn through the money and be back rattling the tin cup soon enough and then we can start this whole thing over again.
But whereis Greek Gold? Goldman Sachs????? :D
With 50% youth unemployed, sex is about to get a whole lot cheaper in Greece.
The Greeks are selling their children to slavery for generations to come.
By extension, the same is true for all of Europe.
Excellent definition of Socialism .... Kudos .... btw is Kudos a Greek word .... the island of Kudos ?
It was, but it sank.
Cue vote of no confidence and the rise of the Golden Dawn.
The world's elite scored big on this. They will aquire the Greek assets that are worth anything, they will profit handsomely from the "aid" terms, and now the banksters have a formula for the next nation with financial woes. Hey Portugal, your port wine vinyards, your stunning beaches, and historic treasures are next. The formula to raid other EU countries legally has been devised and it is cloaked to resemble help.
You're damn right they'll package this up and sell it to others. Maybe call it the "High Yield Failed Economy Investment Portfolio".
The blueprints are in place, just have to find some suckers in positions of leadership to bribe.
Some Nordic countries and Baltics have the patsy groups ready to act!
In the end, the state forced monopoly on currency as a fiat debt based one enslaves everyone. Only the jewish bankers propser. We are all slaves unless we pull out and use bitcoin.
Will vacationers stop playing on these sun-baked isles?
http://market-guru.co.uk/euro-crisis-to-continue-despite-greek-debt-deal/
Tsapiras is a fraud. With Varoufakis gone and the louder voices about to fired, he is the patsy Brussels wanted. Shameful.
Greece: The Untold Story - Democracy from Cradle to Grave
.
.
The main ones I hear b!tching are the Global Leftists and Anarchists,
spewing their anti-American and anti-Western ignorance, envy and hatred.
Greece? Meh.
They're like the drunk blaming the liquor store for their own problems.
Sure. But does this solve anything? If the ECB was stupid enough to lend to an insolvent entity, then isn't better for both parties to walk away from the arrangement? In lending, we always say, "your first loss is your best loss." But it goes even much deeper than this. If it is clear that Greece can never EVER repay its debt, then this negotiated settlement merely protects bond holders at the expense of a permanently impoverished country's citizens whose cash flow cannot possibly sustain debt serviceability.....meaningfully.
In my opinion, Greece should have walked away and force Mario to purchase the toxic assets (just like Bernake did with CDOs and MBS) with freshly minted Euros and let the Eurozone take it on the chin with some price inflation and currency debasement. (there is no free lunch).
Instead the EMU continues to suck dry the sovreignty of its member states - one moral hazard bankrupt country at a time. A monetary dictatorship is what it amounts to and Germany appears to have all the say. They get bailed out even when they continue to endorse this can kicking fiasco.
I don't understand what is so sacrosanct about the Euro that it is worth destroying the lives of so many people? What is it that is so valuable that Tspiris is clinging to whilst tossing his own under the bus?
The decision to remain in the Euro, for Greece, cannot be based on the thought that Greece can return to some sort of economic stability. Under the current debt overhang - this is impossible. So, the decision seems abundantly clear to me - cut your losses - if you have any ANY discounted rate of time preference - CUT YOUR LOSSES.
Take charge of your future and start implementing fiscal and monetary solutions that empowers productivity and innovation.
In short - fuck the EU.
Like I said, you can't negotiate with bankers. They'll never accept anything less than everything.
Abolish the banks.
The worst part of all .... the Ancient Greeks .... were Germanic .... the builders of the Parthenon .... are now making BMWs !
The Greek people were set up. This is what happens when your brother becomes chattel. Our time is coming. The Germans are only messengers; they are occupied by the expropriators.
The people eventually have to fight wars for/against a bunch of greedy gangsters who *almost* always seem to get away with everything under the sun. Yup. They get away with it until they don't.
What you see today is the final stage of the disease "capitalism".
What you see today is another step towards a manorial system, mercantilism and globalization.
The elites so yearn for the good old days of the feudal system, where it was easy to know a serf if you saw one.
The Koch brothers will eventually get their way. They'll step up to the podium and say "Thanks folks! Thanks for all your support in helping us take the country back...now us two brothers own you and your grandkids asses forever".
What you see is socialist .... on socialist .... bug fuckery .... weve never had the balls .... to give Capitalism a chance .... too afraid it will work wonders !
Show me one country in this world where capitalism works!!
There are no countries with functioning Capitalist economic systems, never was, never will be as long as governments intervene in market economies, with the excuse of having to do so in strategic industries, like agriculture. It will not be allowed to function in a hands off manner as the printing of trillions of dollars for the Jewish maifa has so eloquently proven, and likewise the saving of GM's bacon.
There are however capitalist segments of economies at the street level. Retail business store fronts battle it out every hour of the day amongst each other. They are the most capitalistic. One level above retail is distributorships which corner the markets. in some cases to a monopoly level. There are other industries that operate in capitalistiv fashion, but whole economies do not.
So your question is a leading one, as there are no countries operating purely on capitalist tenets.
This is not capitalism; it is corporate fascism disguised as capitalism.
Real capitalism is a two- edged plowshare where intelligent planning assumes reasonable risk, the careful investment of financial capital along with the blessings of lady luck will ultimately reward investors, debt holders and company management with the fruits of success. If those precepts are ignored and instead reckless decisions are made that assumes too much debt that cannot be paid with actual revenues, the company must close its doors and pay off the creditors with what tangible assets are left. Everybody involved must suffer the pains of loss when an enterprise fails including private banks and participating governments to clear out the deadwood and start over, like mother nature’s winter season of death followed by her spring season of rebirth.
But fascism refuse to accept death by bankruptcy. It "extends" the addictive debt again and again to keep it alive like Frankenstein’s monster by printing more and more ink on worthless paper. It is humankind's ultimate greed; it consumes and perverts everything including the scruples of government representatives and their bureaucrats to claim all wealth from the sovereign man for their corporate masters.
Fascism is pure evil and can only be thwarted by the will of the people. What will the citizens of Greece do next, I wonder?
As far as am concerned if you can't move it, it's mine. I'd sell anything that was nailed down because after you get the cash it's still there doing what it was always doing and now you don't even have to take care of it. Like BushCo said, "...it's just a piece of paper." Can I interest you in a bridge.
Jupiter Saturn square Aug 3, 2015.
Elites seize hope and faith.
It's 1935 all over again with Uranus/Pluto square backed up by Jupiter/Saturn square.
They won't pull the plug just yet, they will stave off revolution by giving
to the poor, which is not really even in their economic interest to do so.
They wait for the 2020 Trigonalis Great Chronocrator at zero degrees Aquarius.
The change of element happens only every 200 yrs and at zero Aquarius
it ushers in the new age with Pluto entering AQ 4 yrs later in 2024.
In 2024 they will fold the USA as Pluto enters Aquarius.
sorry it is just what it is, the big change.
Dakota, How do you know all of this?
There can never be a repeat of a year, even if you are a skilled astrologist.
2024 is only 8.5 yrs away, and hilary clinton will be in the final year of her second and final term. She won't let the USA fold on her watch. Too many are counting on her to be WonderWoman, with cottage cheesy thighs.
Thx for the effort but I'm staying long and buying the fucking dip.
So, months ago myself and most people on this site pretty much agreed this would end with the following happening:
1. Greece caves in to creditor demands - CHECK
2. No GREXIT - CHECK
3. More bailout money that will never be repaid - CHECK
4. Can kicked - CHECK
5. There is no such thing as a deadline! - CHECK
So bottom line, as predicted, the EU cannot allow any country to leave the bloc because doing so would unwind everything. Unless there were private concessions made on both sides that we will never be privy to, I have to wonder what Tsipras accomplished except to drag out the process, injure his country and for all that effort he got the worst deal possible?
So yeah, enjoy that shit sandwich Greece! Not so much a sandwich... more like, one of those 4 foot party subs.
What did Tsipras accomplish? He, the referendum and Greece as a whole have exposed the LIE that is the EU. It killed in the hearts of many the kumbaya BS of the EU. It exposed Germany as the defacto center of the EU and it sent a message to Spain, Italy and others that EU Banks rule.
There should no longer be any illusions.
He gave intelligent people some time to get there money out of the bank. What more could he have done?
Our Founders were some smart fuckers: how were they were able to defeat the strongest powers of the time and not submit to debt and slavery? What was it that drove these men? What kinds of things inspired them? Why are we not more like them, today?
Why are the Greeks not fighting back against this tyranny? Are they so scared of being hungry, poor, sick, that they just cant muster the courage to fight their oppressors? Don't they realize that in the end, they will be even worse off than if they were to fight now, today? Do they truly understand what is at stake here?
I really don't understand. ZH's are the smartest, most brilliant people that I know. Can someone please explain this to me?
Lets not blame the Greeks. We are all Greeks and have been for a least 2 generations. People the world over, enjoy the life comforts they have, whether earned or given by the State.
Except for a small minority like ISIS or others fighting for a cause, no one will give up their modern comfortable lives.
Change will not come Top Down, it will only come Bottom- Up, Pain - up, Anger - UP, etc.
"Why are the Greeks not fighting back against this tyranny? "
The Greek people ARE fighting... look at the Oxi vote... they are being sold out by the corrupt politicians, just like the PEOPLE of the USA are being sold out by the toxic swine politicians and courts here, who are both owned by the mega corrupt corporations like JPM, Citi, Goldman and Carlisle. Buy silver and hold on.
Gosh, those Europeans are just so smart and sophisticated. Statism FTMFW!
nice real question is DIP is the IMF printers or the Chinese.... you know IMF is bankrupt on morality of world government and broken window moar war kleptocracy...
“Fiat money, if you like, is backed by men with guns.” Paul Krugman
Rank Country Spending in PPP ($ Bn.)
1 United States United States 1,335
2 China China 1,270
3 India India 654
4 Russia Russia 295
5 United Kingdom United Kingdom 108
6 Brazil Brazil 97
7 France France 87
8 Japan Japan 67
9 Germany Germany 63
WE DON'T LIKE IMF GO TO HELL.... AMERICAN TAXPAYER aka Sheep
Simpsons did it!
Is simpsons now confirmed illuminati mouthpiece? I think I got the nonstick foil today : (
Yeah, fuckin family guy and american dad... Implanting suggestive thoughts in with cartoon programming... Roger sure sounds like Paul lynde..Hmmm... Gays
nice real question is DIP is the IMF printers or the Chinese.... you know IMF is bankrupt on morality of world government and broken window moar war kleptocracy...
“Fiat money, if you like, is backed by men with guns.” Paul Krugman
adjusted for purchasing power (China 129b US 581b)
Rank Country Spending in PPP ($ Bn.)
1 United States United States 1,335
2 China China 1,270
3 India India 654
4 Russia Russia 295
5 United Kingdom United Kingdom 108
6 Brazil Brazil 97
7 France France 87
8 Japan Japan 67
9 Germany Germany 63
WE DON'T LIKE IMF GO TO HELL you are out of your freeking mind if you think anyone in the world is going to pay that bill.... AMERICAN TAXPAYER aka Sheep in petro dollar demise...
goodness gracious just fire some missiles already.
This is unbelievable. Maybe the banks sent Tsipiras a folder containing the pictures of the last group of men with thick hair and nuts who dared to plot against them; John Kennedy, Joe Kennedy, Bobby Kennedy... They knew exactly what they were up against and they went right after it anyway.
Tsipiras is starting to look like a Teddy Kennedy... they may have to throw him into the sea.
This is not the end of this story for sure. This "deal" is most likely not getting passed in parliament, but if it does pass there will be people on the streets again... essentially Tsipras sold out and that will not go well with the Greek people, that's for sure.
This is all part of the plan.
trading ink and paper for frickin' islands.
I gave you a thumbs up for being short and to the point. However, you need to add digital $$$ out of thin air along with the ink & paper that makes it official. Read Matthew 24-26 to know what is ahead and it will not be pretty for most.
What do the elites know, we don't know? Those islands should sell like crazy, but they don't.