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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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Man!! Bungalow, where have you been.. We will have a 32ft sea level change by 2017...
67 years after the end of the 2nd word war the EU is establishing imperialism under the leadership of German chancellor Merkel upon southern Europe. Why should we anymore be afraid of Putin? The better functioning female version of him is sitting in Berlin.
Merkel, et alia, is merely another political puppet of the international banksters. It is misleading to focus upon "nations," since all of their political decisions are made by politicians that are puppets of the international banksters, who are elected by enough of the masses of muppets, that were misinformed their entire lives by the school and mass media systems that were dominated by their funding, the same as how the political processes were dominated by their funding.
It is basically stupid, old-fashioned, short-sightedness to blame "Germany." Germany is merely still another pawn in the long game played by the international bankers, who also have been playing the government of the USA more and more for a long, long time. What has happened to Greece will later also happen to America, and probably be finally become much worse in America than in Greece:
The Last Days Of ‘Normal Life’ In America
NONE of the nation states are controlling themselves anymore. They are ALL dominated by the international banksters, and the corporations that have grown up around the power of those banksters to create the public "money" supplies out of nothing as debts for everyone else. Tragically, there are no reasons to believe that will do anything but get way, way worse in the foreseeable future ... The best irrational hope that one can offer after facing the facts is the conclusion to the article that I linked above:
I bet that those "sheeple" will mostly turn to the Black Sheeple, or the reactionary revolutionaries, who will continue to try to lead them back to some old-fashioned religions or ideologies. Most of the articles and comments posted on Zero Hedge are the work of various Black Sheeple, which appeal to those who continue to want to perceive the world in silly, superficial ways, such as those who believe that nation states are controlling anything, despite the overwhelming evidence that almost all of the successful politicians in every nation are the effectively the banksters' puppets, who are voted for by enough of the banksters' muppets.
The "sheeple" should turn to for answers to intellectual scientific revolutions in the ways that they perceive politics. However, since they ARE "sheeple," it is most reasonable to expect that they will turn to the controlled opposition "Black Sheeple" for bogus "answers."
Better answers would require better understanding of how and why the best organized gangs of criminals, the biggest gangsters are the banksters, who are effectively controlling all governments to operate as the biggest form of organized crime. The only valid answers that are consistent with deeper analysis of the real problems require the development of better organized crime. However, the sheeple and their Black Sheeple controlled opposition, deliberately do not want to understand that.
http://www.zerohedge.com/news/2015-06-10/guess-how-many-nations-world-do-not-have-central-bank
Guess How Many Nations In The World Do Not Have A Central Bank?
"... more than 99.9% of the population of the world lives in a country that has a central bank."
I REPEAT some of my favourite quotes from Carroll Quigley, to put the central banks into their historical, globalized, context:
"powers of financial capitalism
had another far-reaching goal,
nothing less than to create a
world system of financial
control in private hands
able to dominate the
political system of
each country and
the economy of
the world as
a whole ..."
That system was "to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements. ...The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations. ... It must not be felt that the heads of the world's chief central banks were themselves substantive powers in world finance. They were not. Rather they were the technicians and agents of the dominant investment bankers of their own countries, who had raised them up, and who were perfectly capable of throwing them down. The substantive financial powers of the world were in the hands of these investment bankers who remained largely behind the scenes in their own unincorporated private banks. These formed a system of international cooperation and national dominance which was more private, more powerful, and more secret than that of their agents in the central banks."
Central bankers work like organized crime works.
THOSE ARE THE ANSWERS, AND ACTIONS CONSISTENT WITH THE REALITIES THOSE ANSWERS ARE WHAT SHOULD BE DONE. However, what one expects will actually happen is the continued triumph of enforcing frauds, becoming more severely psychotic. After all, even on Zero Hedge, one mostly expects the content to be mostly the kinds of controlled opposition Black Sheeple's presentations.
++, though to add: no way of knowing the real identity or make-up of of ZH postors...'mostly' could merely be a bias of trolls and/or disinfo agents, and individuals who are not as well analysed as yourself (meaning 'thought through', not 'goes often to shrink'), but come to ZH for insight and info. We are learning, waking up, and waking others. I myself was blown away when I discovered ZH, and as I have no background in finance, economics or politics (am a labourer), am deeply grateful (was going to say 'indebted' hahaha...sorry cant' repay you, molon labe..) to all ZHers for the wealth of knowledge and experience and links...
Ups for you, RM.
Perhaps the Greeks finally realise that the price of staying with the Eurozone is national sovereignty, their remaining wealth and decades of grinding poverty and unemployment. The only remaining hope for Greece is that its people and the Parliament will rise up with an emphatic OXI for the entire deal, declare independence from the EU, nationalise their banks, print their own money and establish close ties with the Eurasian Union.
Hope springs eternal....
That is the Agenda 21 plan; "if you like your sovereignty, then you can have it". hehehehe
How is Tsipras not a dead man walking after this
He is brokering his promised escape, which results in his death. He will likely be sent to Vatican City and offered over some alter.
These ads remind me of how Byzantium was parted out after 1204, only back then the main benefactors were the Genoans and the Venetians.
Of course, you were referring to the Genoan and Venetian jews?
European tax payers are being blackmailed into saving Greece AGAIN.
Actually, saving Greece is the most stupid thing Europe could do. Here´s why:
http://www.atlanticperspective.com/home/july-12th-2015
There are far more reasons to let Greece go than to save it. Saving Greece can destroy Europe. And a destroyed Europe will not help Greece anyway. Or anybody. The Russians must laughing their socks off!
The writer of that article ignores the details, where the devil lies. The failure of Greece brings down large European banks, which then crosses the Atlantic and hits a few more TBTF banks because of the insane derivative exposures from interest rate swaps, credit default swaps and the "carry trades"...all this is interconnected and intertwined, which is why Greece cannot be allowed to leave under any circumstances.
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The obvious question to everyone is why not just let them go and the debt isn't that much...that is the surface only since Italy, Spain and Portugal's problems are 10X the problem of Greece; so Greece will not be allowed to leave and you can guarantee the coup d'état details are being "ironed-out" on the side-table in that "darker room".
You no see that rook come cross board and check mate you stupid EU capitalist pigs!!! Vlad now take rest of Ukraine, Belarus and Latvia... Son-of-the-bitches...
Hollow country.
Of course the natural consequence of parliamentary acceptance will be war. First a civil war for obvious reaons.
Then, after all that collateral is nationalized, a european war as Germany decides to foreclose.
After that? Who knows. It will depend on who supports whom.
Enjoy your Greek assets.
What is obvious is that the "Western Banking Cabal & Associates" have their "strong-men" twisting arms and "Murder Inc" is standing in the wings. What is happening in Greece is the future in the not to distant future. Not if, but when. Glad the real bad guys are in our corner for now.
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Nothing compared to eternal hell, which will be most people's destination at the end of this life or at their death.
Private equity - ie Wilbur Ross - is already salivating, and on scene.
And just think about the balls on goldman slachs. they make $500mm selling Greece FI derivatives.
And now they will broker all the privatisations.
BRILLIANT. these people have no souls. its all about the money.
Its all abouit the money....and the souls...
Anyone wondering what happened during the night of the referendum that led to Varoufakis' resignation, just listen to the excerpt from this interview: http://www.abc.net.au/radionational/programs/latenightlive/greek-bailout...
"We are in the end the ones from whom the money is borrowed."
--- Dijsselbloem
They are the ones who have the legal power to make money out of nothing as debts, which does not exist until it is "borrowed." Greece is a symbolic leading edge of everyone else going past the event horizon of the black hole of DEBT SLAVERY BACKED BY WARS BASED ON DECEITS.
THERE IS NO WAY OUT OF THE BASIC SITUATION THAT MONEY IS MEASUREMENT BACKED BY MURDER, ESPECIALLY TO THE DEGREE THAT THE ESTABLISHED SYSTEMS AND THEIR CONTROLLED OPPOSITION ARE RUN BY THE BEST AVAILABLE PROFESSIONAL LIARS AND IMMACULATE HYPOCRITES WHO EXCEL AT DELIBERATELY IGNORING THAT MONEY IS MEASUREMENT BACKED BY MURDER.
Greece is a symbolic leading edge of the MAD Money As Debt system driving its numbers to become runaway debt insanities, which are frauds by privately controlled banks, which are enforced by governments, which frauds are symbolic robberies, that are illustrated by the transference of various assets to become privatized. The public "money" supply gets privatized, then the everything else follows after, with the end result becoming that the public murder systems will also end up becoming privatized, which will tend to be the way that those systems are reset, namely debt insanities provoking death insanities, since almost everyone has an apparent interest postponing the death insanities, and certainly the controlled opposition governments do. Greece has coped with its debt insanity situation by postponing coping with that. In the longer term, that enables those debt insanities to become even worse, which will result in the final death insanities becoming even worse ...
Hey, look!
"public murder systems will also end up becoming privatized"
Search 'privatisation of military' Watch the re-rise of mercenary armies. Contras in Nicaragua, Blackwater/Xe in Iraq, ISIS in Mesopotamia, assasination assets, death squads, etc etc.This one from AusGov.Inc:
http://www.army.gov.au/Our-future/DARA/Our-publications/~/media/Files/Ou...
OT El Chapo the billionaire cartel leader and escapee said he will make Donald Trump eat his words.
http://www.dailymail.co.uk/news/article-3159344/There-s-no-jail-big-midget-Mexico-s-billion-dollar-drugs-lord-gloats-Twitter-escaping-prison-shower-block-tunnel.html
If I were the Donald I would watch my back, one of these two billionaires is not going to come out of this alive.
The problem with Greece is that its full of Greeks, time to reinstitute the right of Prima Nocta.
Don't worry. It will soon be full of Germans inspecting their new property.
or the Chinese
Now the Greeks have a GOOD reason not to pay taxes....Nice job, Europe!
Btw, what makes the would-be owners of these assets so certain their claims will be honored? Unless they can be packed up and carted away, they are ultimately GREEK assets, regardless of who waves paper claims around.
I personally don't see privatization as a problem. Why does the government need land that isn't being used?
let the vultures take the land, then impose a Land Value Tax of 95%...
How can the Greek Islands be sold?
Can't they immediately be resold to foreign powers and naval and air force bases be installed?
Does Greece have any control over who the buyers are and what the islands can or can not be used for?
They are sold like any piece of land can be sold. The land still is under the greek's military tacit control and subject to greek laws. When you buy land you are not buying a different country.
What about Greek approval of the buyer? Is Turkey a qualified buyer?
Does Greece have to sell 'a pound of land nearest the heart" of Greece to any three legged dog with the moola?
Does Greece have to take the best offer for an asset?
Can they take a lesser offer and leave the difference on the books and extend the repayment to the Troika until another asset sale covers it?
Does the Eurozone have the rights of a trustee in a bankruptcy reorganization?
thanks
under the latest legislation 1.there will be an approval,a swift one 2.As a state no,to a turkish buisnessman who coughs up the dough,yeah 3.most islands are tiny bits nowhere near the "heart".There are some prime pieces but they all need at least their selling value in investments,unless you just want to by a rock under the sun with sea all around. 4.yeah best offer it is,but last i heard "best" was a combination of financial and other matters. 5.That, i know jacks*it about
6.that's what i get from the latest proposals,but it remains to be seen
Those islands look pretty nice but i wonder what they have in the say, $10K to $12K range and will they hold paper on it.
a sandbank with a starfish,if you are lucky.
We all thought Tsipras averted his gaze as he held up Mutti Medusa's head for the Eurozone to see.
How disappointed we were to then see him kiss her on the lips
So Merkel's quisling bitch Tsipras instantly backstabbed the Greek voters
and arranged to "borrow" enough money make payment on bankster scam loans
provided that Greece puts up 50 Billion Euros worth of state-owned assets
("appraised" at pennies on the dollar) in "a fund for eventual privatization"
This is the same identical stinking "loans-for-shares" scam that the identical
cabal of corrupt bankster lender/investors employed to grab off (privatize") the cream
of Russias state-owned assets for next to nothing in a process of raping and
pillaging the Russian people while arranging the collapse of the Soviet Union
(Look up:"privatization in Russia/loans for shares"0
This is exactly what is/going to happen to the US. It might even be too late to kick out the bankers. We will have to kill them. Buy a gun with lots of ammo.
You're just now reaching the "buy a gun conclusion"? You must be new here.
The confrontation between millions of global carpetbaggers looking to sell America for parts and millions of heavily-armed, pissed-off American militamen could be a true epic!
Imagine the fire sale when the U.S. goes tits up. That's where you put what you've been hoarding. That is if they don't seize it.
Once again, this is how civil wars and insurgencies get started....
This explains the half dozen submarines Merkel practically gave Israel.
The Stonecutters repossessing what's theirs?
Yeh all these assets sales by Greece... why not start the negotiations finalizing the clawback amounts from Goldman Sachs for getting the Greek people in the mess in the first place ?
Should be about $ 4B by now.. you know, compound interest and all...
What i dont get at all is , if we defaulted and grexit-printed drachmas wouldnt we do the very same thing to recapitalize our banks, but with national (&controlled) currency? It seems we are ripping all the disadvantages but without hte benefits of such a bold move.If anyone knows, please do tell me.
Schoeble vs. Tsipiras at the Eurogroup meeting:
https://www.youtube.com/watch?v=9_dAKu_cNS8
Boy, it's too bad cutting the rent seekers from their source of honey, cutting pensions for the twenty year olds, cutting economy stifling regulation, lowering the pay for government employees and lowering taxes is off the table. Because real reform would change the entire paradigm, if they did, in five years Greece would own Europe. but don't worry, the cronies, layabouts and corrupt bureaucrats run the show there.
Why does this whole Greece scenario remind me of Goodfellas when the restaurant owner takes Paulie on as a business partner. What's that? You had a fire. FUCK YOU PAY ME! HAD A BAD WEEK. FUCK YOU PAY ME!!! And it's all part of the PLAN!
Dear Greeks,
As you may be finding out a bit too late, though, if you still have firearms, it's never too late:
What is Zion: "Zionism is a fifth-column system of organized plunder that operates on a national and international level via fraudulent-reserve banks, dependent governments, and connected and derivative firms."
You need to stop them, or learn Hebrew, or one of the other 15 languages they are importing into your country.
Liberty is a demand. Tyranny submission.
Omniversling- this should point you in the right direction.
"“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks…will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” – Thomas Jefferson in the debate over the Re-charter of the Bank Bill (1809)
“I believe that banking institutions are more dangerous to our liberties than standing armies.” –Thomas Jefferson
http://www.themoneymasters.com/the-money-masters/famous-quotations-on-ba...
Didn't Greece just have a referendum against this? Mockery of the people's choice.
Notice how the hated EU bureaucrats are now being called "Europe" itself in these stories.
why are the greeks determined to stay in the Euro zone, they will be kicked out eventually when these thieves are finished with looting and plundering.
Destroying a nation's democracy:
In the 20th century it was carried out using TANKS.
In the 21st century it's carried out using BANKS.