Tsipras Stunner: Creditors Said "There Is No Point In Holding Elections" In Bailed Out Countries

Tyler Durden's picture

While Germany's finmin Schauble is about to burst at few capillaries after reading the latest provocation from Tsipras in which he said, according to Reuters, that:

  • GREEK PM TSIPRAS SAYS I SIGNED I DEAL I DO NOT BELIEVE IN BUT I'M WILLING TO IMPLEMENT AND WILL ASSUME RESPONSIBILITIES

It should be the Greek people that are reeling by another, even greater stunner, just spoken by the Greek PM during his TV interview: an admission from the chosen Greek "leader" that Greece, as a
sovereign nation, no longer exists:

  • GREEK PM TSIPRAS SAYS LENDERS GIVE A MESSAGE THAT IN COUNTRIES UNDER A BAILOUT THERE IS NO POINT IN HOLDING ELECTIONS

So the Troika makes it clear that countries under a bailout, such as a Greece was and is about to be indefinitely again, democracy is finished and the country becomes a sovereign ward of a few unelected bureaucrats, and the Greek "prime minister" who also just admitted he is now nothing but a puppet of Greece's new unelected leaders, is Ok with this.

The good news, at least for those who seek to connect dots, is we can now close the book on what Schauble was talking about when he said "Aber glauben Sie mir, das Problem ist lösbar" in this 2011 interview with Welt am Sontag:

Schauble: "We decided to arrive at a political union via an economic and currency union. We had the hope - and we still have it today - that the Euro will gradually bring about political union. But we're not there yet, and that's one of the reasons why the markets are distrustful. 

 

Welt am Sonntag: "So will the markets now force us into a political union?" 

 

Schauble: "Most member states are not yet fully prepared to accept the necessary constraints on national sovereignty. But trust me the problem can be solved."

At this point it is probably also worth repeating what Latvia's outgoing president Berzins said two weeks ago:

[the Greek] debt is so big that everyone understands that it won’t be repaid.... Loans to Greece have just bought time so that those in power don’t have to take decisions. This is like a game: who can hold out longer by not  showing that this money has been lost? This burden has become bigger and there obviously is no possibility to repay.... The debt writedown of Greek debt will come after bankruptcy of state.

Perhaps it is only fitting that democracy officially dies in the country in which it was born, a country which is about to very clearly demonstrate to the rest of the world that in this day and age, banks have infinitely more power and leverage that "sovereign" nations.

As for the Greeks: enjoy your now official "second-rate citizen" status as slaves of Brussels bureaucrats even as you liquidate all your most valuable assets, and hand over your gold for the generous honor of being allowed to repay the Troika's debt.