This page has been archived and commenting is disabled.

Varoufakis: Greek Deal Is "Coup", Turns Greece Into "Vassal" State, And Deals "Decisive Blow" To European Project

Tyler Durden's picture




 

Yanis Varoufakis, fresh off a few relaxing days at his island getaway, will be back in the Greek parliament this week to weigh in on the "compromise" deal his successor Euclid Tsakalotos and PM Alexis Tsipras struck in Brussels over the weekend.

Considering the eyewitness accounts of the highly contentious Eurogroup meeting - out of which came the exceedingly punitive term sheet which would serve as the basis for Greece's agreement with creditors - one can only imagine what might have unfolded if Varoufakis had been present for the "crazy kindergarten" finance minister free-for-all which reportedly took place on Saturday night. 

For those curious to know what Yanis thinks about the deal, below are some "impressionistic thoughts" from the man himself. Highlights include the characterization of the Greek deal as a "decisive blow against the Euorpean project", a "statement confirming that Greece acquiesces to becoming a vassal of the Eurogroup", and the "culmination of a coup".

*  *  *

On the Euro Summit’s Statement on Greece: First thoughts via Yanis Varoufakis

In the next hours and days, I shall be sitting in Parliament to assess the legislation that is part of the recent Euro Summit agreement on Greece. I am also looking forward to hearing in person from my comrades, Alexis Tsipras and Euclid Tsakalotos, who have been through so much over the past few days. Till then, I shall reserve judgment regarding the legislation before us. Meanwhile, here are some first, impressionistic thoughts stirred up by the Euro Summit’s Statement.

  • A New Versailles Treaty is haunting Europe – I used that expression back in the Spring of 2010 to describe the first Greek 'bailout' that was being prepared at that time. If that allegory was pertinent then it is, sadly, all too germane now.
  • Never before has the European Union made a decision that undermines so fundamentally the project of European Integration. Europe’s leaders, in treating Alexis Tsipras and our government the way they did, dealt a decisive blow against the European project.
  • The project of European integration has, indeed, been fatally wounded over the past few days. And as Paul Krugman rightly says, whatever you think of Syriza, or Greece, it wasn’t the Greeks or Syriza who killed off the dream of a democratic, united Europe.
  • Back in 1971 Nick Kaldor, the noted Cambridge economist, had warned that forging monetary union before a political union was possible would lead not only to a failed monetary union but also to the deconstruction of the European political project. Later on, in 1999, German-British sociologist Ralf Dahrendorf also warned that economic and monetary union would split rather than unite Europe. All these years I hoped that they were wrong. Now, the powers that be in Brussels, in Berlin and in Frankfurt have conspired to prove them right.
  • The Euro Summit statement of yesterday morning reads like a document committing to paper Greece’s Terms of Surrender. It is meant as a statement confirming that Greece acquiesces to becoming a vassal of the Eurogroup.
  • The Euro Summit statement of yesterday morning has nothing to do with economics, nor with any concern for the type of reform agenda capable of lifting Greece out of its mire. It is purely and simply a manifestation of the politics of humiliation in action. Even if one loathes our government one must see that the Eurogroup’s list of demands represents a major departure from decency and reason.
  • The Euro Summit statement of yesterday morning signalled a complete annulment of national sovereignty, without putting in its place a supra-national, pan-European, sovereign body politic. Europeans, even those who give not a damn for Greece, ought to beware.
  • Much energy is expended by the media on whether the Terms of Surrender will pass through Greek Parliament, and in particular on whether MPs like myself will toe the line and vote in favour of the relevant legislation. I do not think this is the most interesting of questions. The crucial question is: Does the Greek economy stand any chance of recovery under these terms? This is the question that will preoccupy me during the Parliamentary sessions that follow in the next hours and days. The greatest worry is that even a complete surrender on our part would lead to a deepening of the never-ending crisis.
  • The recent Euro Summit is indeed nothing short of the culmination of a coup. In 1967 it was the tanks that foreign powers used to end Greek democracy. In my interview with Philip Adams, on ABC Radio National’s LNL, I claimed that in 2015 another coup was staged by foreign powers using, instead of tanks, Greece’s banks. Perhaps the main economic difference is that, whereas in 1967 Greece’s public property was not targeted, in 2015 the powers behind the coup demanded the handing over of all remaining public assets, so that they would be put into the servicing of our un-payble, unsustainable debt.
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 07/14/2015 - 09:05 | 6310364 JustObserving
JustObserving's picture

Of course it is a coup:

Prime Minister Alexis Tsipras has signed up to an agreement that transforms Greece into a de facto colony of the European Union and places the country under the dictates of Germany.

What remains of the Greek economy, above all its most valuable assets, is to be pillaged so that Athens can continue to pay back loans from the EU, the European Central Bank and the International Monetary Fund.

Greece is to be placed under the direct control of EU officials. The function of Greece’s parliament will be to rubber-stamp the transfer of real authority to Brussels and Berlin. It has until Wednesday to pass a series of laws implementing the demands of German imperialism and the EU.

http://www.wsws.org/en/articles/2015/07/14/gree-j14.html

Tue, 07/14/2015 - 09:11 | 6310386 Haus-Targaryen
Haus-Targaryen's picture

If this doesn't set off a revolution in Greece, likely nothing would.  

The Sheep is strong in the Greeks.  

Tue, 07/14/2015 - 09:15 | 6310403 JustObserving
JustObserving's picture

Hope the deal gets rejected:

In his first interview since resigning earlier this month, former Greek finance minister Yanis Varoufakis has described the 86 billion euro bailout deal agreed to by prime minister Alexis Tsipras as ‘a new Versailles Treaty’.

‘This is the politics of humiliation,’ he told Late Night Live. ‘The troika have made sure that they will make him eat every single word that he uttered in criticism of the troika over the last five years. Not just these six months we’ve been in government, but in the years prior to that.  

In the coup d’état the choice of weapon used in order to bring down democracy then was the tanks. Well, this time it was the banks. The banks were used by foreign powers to take over the government. The difference is that this time they’re taking over all public property.

http://www.abc.net.au/radionational/programs/latenightlive/greek-bailout...

Tue, 07/14/2015 - 09:20 | 6310414 hedgeless_horseman
hedgeless_horseman's picture

 

 

This isn't nearly as big a coup as the Federal Reserve Act was in 1913.  Not even close.

Tue, 07/14/2015 - 09:21 | 6310432 Occident Mortal
Occident Mortal's picture

The Greek economy has already contracted by 25%.

 

Now Greece must place assets worth 25% of it's GDP into an escrow account so that it can be liquidated by the EU.

 

Why are they accepting this? This is an act of war.

Tue, 07/14/2015 - 09:25 | 6310450 Philo Beddoe
Philo Beddoe's picture

Game theory, I suspect. 

Tue, 07/14/2015 - 10:40 | 6310744 y3maxx
y3maxx's picture

Where's NIgel Farage when you need him?

Tue, 07/14/2015 - 11:22 | 6310896 Hugh_Jorgan
Hugh_Jorgan's picture

This story brings me back to the instance where the EU installed Matteo Renzi as Italian PM. Is there no one else who thinks that the IMF and ECB are keeping the EU afloat simply to let each sick country fail economically one by one so they can play benefactor and eventually gain control of all of Europe through economic sanction? It looks like this is the model for a slow slide into complete  global economic tyranny over the course of the next 50-100 years. As if no one will notice these things? or maybe by the time they notice it happening to them, it's too late? I don't think this stuff will stand for long...

Tue, 07/14/2015 - 12:57 | 6311343 Ploutos74
Ploutos74's picture

A coup is replacing a government with another of your choice. They capitulated to stay in power

Tue, 07/14/2015 - 15:24 | 6311964 froze25
froze25's picture

So, do you think the Greek leadership has even considered doing an "Iceland"?  I would rather 2 years of pain than a 100 of it.

Wed, 07/15/2015 - 00:03 | 6314042 cookie nookie
cookie nookie's picture

They can't do an Iceland.  Too high of a population.  What will happen?  Greece will stay.

Tue, 07/14/2015 - 09:56 | 6310565 FreeMoney
FreeMoney's picture

The Greeks are like crack whores only wanting to spend money they dont have.  They cant borrow from the banks, they cant borrow from their friends and family anymore.  now they are at the pawn shop and geting raped for it.  This is the end of the road for deficit spending.

Tue, 07/14/2015 - 10:59 | 6310814 ebworthen
ebworthen's picture

Add the rest of Europe and the U.S. to that list, Greece is just the first to run short (well, Cyprus).

End Central Banking and hang the banksters and complicit politicians!

Tue, 07/14/2015 - 11:23 | 6310903 MsCreant
MsCreant's picture

You forgot the part where she was in financial trouble when you met her, you told her you could help her, then you got her addicted. This is the part where you are trying to get her to turn tricks for you. She is so addicted she does not think she can leave you.

Tue, 07/14/2015 - 14:55 | 6311807 ThroxxOfVron
ThroxxOfVron's picture

"You forgot the part where she was in financial trouble when you met her, you told her you could help her, then you got her addicted. This is the part where you are trying to get her to turn tricks for you. She is so addicted she does not think she can leave you. "

 

THIS is the part that makes me the angriest.

It is the young people of Greece that are in fact being heartlessly prostituted and indentured to rough foreign johns by their own parents and grandparents.

Tue, 07/14/2015 - 15:26 | 6311980 froze25
froze25's picture

Nailed it, fear is being used every where here.  

“I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.” 
Frank HerbertDune

Tue, 07/14/2015 - 12:21 | 6311186 Anusocracy
Anusocracy's picture

All governments that find that they can't steal more from the current productive class will steal from future productive classes.

Tue, 07/14/2015 - 18:17 | 6312884 PhoQ
PhoQ's picture

The problem is that the productive classes are slowly ending their production, strangling the snake with its own delicious tail.

Tue, 07/14/2015 - 10:10 | 6310614 The.Harmless.Jew
The.Harmless.Jew's picture

 

 

"Why are they accepting this? This is an act of war."

 

 

Honestly, I think they bottled it.  

 

Consider this, they feel that if they say "OXI" or NO to all this, then any greek with Euros in his/her hand or in savings would be gone. All trade would stop, all transactions would stop.  It would be the great reset. Back to the stone age. 

 

Now, you and I and some others in ZH would use a great reset as a great oppertunity to start afresh, to build a cleaner society and so on, but the pain for these people is too much.  

 

I can understand that, I certainly won't judge. 

 

OM, consider this, you'd wake up one morning and all your cash, savings, pension pot (if you have any from this list gone). Then, if you had a mortgage on your home, you won't know if your home is still your home under the current conditions. Then, there's no more electric or gas or water, or sewage, and so on....

 

Imagine that for a second. and it would all happen so quickly. 

 

The problem is we've ceded too much control that we've allowed ourselves to be captives of a terrible system (some say it is progress!).

 

Yes, there are solutions, of course there are.  You can get around the mortgage situation by nationalising the banks etc... but all these things take time.  and in an age of "instant" - who has time? 

 

 

Wed, 07/15/2015 - 08:07 | 6314559 the late idi armin
the late idi armin's picture

cos that was the trap. as a greek (or a italian or spanish or other) politician you got to go brussels, mix with other EU politicians, be somebody, not just a hack skimming local roading contracts. The German elite knew that and brought themselves legitimacy as good europeans while putting the german taxpayer on the hook.  

Wed, 07/15/2015 - 08:07 | 6314560 the late idi armin
the late idi armin's picture

cos that was the trap. as a greek (or a italian or spanish or other) politician you got to go brussels, mix with other EU politicians, be somebody, not just a hack skimming local roading contracts. The German elite knew that and brought themselves legitimacy as good europeans while putting the german taxpayer on the hook.  

Tue, 07/14/2015 - 09:50 | 6310548 AgeOfJefferson
AgeOfJefferson's picture

That's why it's time to take action now before the US becomes like Greece!

'Restoring the Lost Republic' (of the United States of America). - Contains full details about the fraud that is the Federal Reserve and how to stop them!

https://mega.nz/#F!J5EEXCDK!_LD4hgaBI3aUqqJc2Ng14A (PDF)

Once on the MEGA website, double-click on the PDF filename to download it directly.

Spread the word.

Tue, 07/14/2015 - 23:07 | 6313936 illyia
illyia's picture

"The Child of the Creature from Jekyll Island" ....

Tue, 07/14/2015 - 09:41 | 6310523 PermaBug
PermaBug's picture

The deal might actually be rejected.

The pundits following the politics in Greece seem to think otherwise, but I have a feeling the deal is so bad for the Greeks that they might just decide that there's no point.

Which is, of course, what the fiscally responsible nations of the EZ want, for Greece to choose to leave rather than being thrown out, as they don't really have a legal way to do that, and besides, they don't want to be seen as responsible for the hardships Greeks will face after they leave.

Of course Greece should leave and go back to the drachma, and they will muddle along as a completely failed welfare state like Cuba for the next 50 or 100 years.

It will make a nice cheap vacation spot for those very few of us still living in countries that have half-way decent economies and currencies.

Tue, 07/14/2015 - 10:13 | 6310625 Antifaschistische
Antifaschistische's picture

"What remains of the Greek economy, above all its most valuable assets, is to be pillaged so that Athens can continue to pay back loans from the EU, the European Central Bank and the International Monetary Fund."

But, Athens hasn't been paying back loans from the EU...the EU has paid themselves back with new loans.  I know it may seem like a technicality, but I do not believe anyone actually believes Greece will pay these loans off.  However, the liquidation of "valuable assets" will be real.  The debt offering is just a front to give the fascists the time they need to transfer ownership.  Then, they will discuss debt forgiveness.

Tue, 07/14/2015 - 11:43 | 6310989 booboo
booboo's picture

"The debt offering is just a front to give the fascists the time they need to transfer ownership.  Then, they will discuss debt forgiveness."

This is all you need to know.

Good Night and God Bless

Tue, 07/14/2015 - 12:08 | 6311130 BarkingCat
BarkingCat's picture

You got it. This is just a variation of what was done to the former Warsaw Pact countries when Soviet Union fell. Stipped of assets for single digit percentage of their actual worth.

Tue, 07/14/2015 - 09:16 | 6310417 itsallgreektome
itsallgreektome's picture

it is easy to utter the word "sheep" when it is not your neck (or your loved ones necks) on the line. Revolutions are slowly building up and set off when you least expect it.
And the revolts so far only managed to ressurect a gang of 1500 neonazis to a political party,represented in the Greek parliament. That kinda killed the whole notion.

Tue, 07/14/2015 - 09:16 | 6310391 PleasedToMeatYou
PleasedToMeatYou's picture

"World Socialist Web Site", where they considere In Defense of Leon Trotsy "essential reading". 

...a sure source for solid news.  Bwaaaahahahahahahahahaha!

Tue, 07/14/2015 - 09:18 | 6310423 JustObserving
JustObserving's picture

You prefer Time, The Economist or Der Spiegel or the British Bullshitting Corporation?

Since the beginning of the week, the three most influential mass circulation newsmagazines of the United States, Britain, and Germany—Time, The Economist, and Der Spiegel—have published cover stories that combine wild accusations against Vladimir Putin with demands for a showdown with Russia.

The most striking and obvious characteristic of these cover stories is that they are virtually identical. The CIA has scripted them all. The stories employ the same insults and the same fabrications. They denounce Putin’s “web of lies.” The Russian president is portrayed as a “depraved” mass murderer.

http://www.wsws.org/en/articles/2014/07/30/pers-j30.html

Tue, 07/14/2015 - 09:26 | 6310451 PleasedToMeatYou
PleasedToMeatYou's picture

"You prefer Time, The Economist or Der Spiegel or the British Bullshitting Corporation?

No, but if you're standing there covered in shit, pointing at others also covered in somebody else's shit doesn't clean you up any. 

http://www.scribd.com/doc/78300796/No-Novosti-is-Good-News-Russian-NOVOS...

Tue, 07/14/2015 - 09:28 | 6310464 i_call_you_my_base
i_call_you_my_base's picture

When looking for facts, the messenger is irrelavent. It only matters if you're looking for commentary / analysis.

Tue, 07/14/2015 - 09:50 | 6310544 Aaaarghh
Aaaarghh's picture

thats a pile of shit. If all that is out there is lies, it matters not who delivers it, you still get lies. In order to get to the truth, you need to analyse many sources of information and use some critical thinking.

Tue, 07/14/2015 - 10:07 | 6310605 Tall Tom
Tall Tom's picture

Many source of information is just a euphemism for many sources of lies.

 

To get to the truth one needs to look at that which IS NOT the lie.

 

A source which is a lie may contain some truth, I will agree.

 

But looking at many lies just serves to repeat the lie which becomes believable when one hears it often enough. That is how propaganda works after all.

Tue, 07/14/2015 - 09:51 | 6310551 Eirik Magnus Larssen
Eirik Magnus Larssen's picture

Puberal commentary.

Tue, 07/14/2015 - 15:16 | 6311919 Icelandicsaga.....
Icelandicsaga...............................................'s picture

IMO Tsirpas was a manchurian candidate like Obama         Followi g the playbook

 

Tue, 07/14/2015 - 09:06 | 6310367 mojojojo
mojojojo's picture

“A society grows great when old men plant trees whose shade they know they shall never sit in.”

Tue, 07/14/2015 - 09:12 | 6310385 Dr. Venkman
Dr. Venkman's picture

Hillary Clinton used that to close her BS speech yesterday. She of course uses it to justify continued theft of the people via taxation and quixotic projects. How are you using it?

Tue, 07/14/2015 - 09:14 | 6310405 indygo55
indygo55's picture

"How are you using it?"

Maybe he's in the tree business.

Tue, 07/14/2015 - 09:33 | 6310482 Dr. Venkman
Dr. Venkman's picture

I got a chuckle out of that quip. Thank you For that.

Everyone's got an angle. Even the arborist.

Tue, 07/14/2015 - 09:26 | 6310457 Wahooo
Wahooo's picture

Yeah, it's bullshit. Think about it - we're great because we plant shade trees? Fucking politicians.

Tue, 07/14/2015 - 12:17 | 6311169 BarkingCat
BarkingCat's picture

Old and wise saying.

It means that planning and working with long term goals even though you yourself might not benefit from it.

It does not mean socialism or communism.

It can be applied to many aspect of life, and that includes capitalist enterprise.

Look beyond the next fiscal quarter. Build something that will stand the test of time.

It is a rare concept in today's instant gratification society.

Tue, 07/14/2015 - 15:20 | 6311930 goldsaver
goldsaver's picture

BINGO!

I am 50 years old. In developing my ranch I can not only consider my potential lifetime. Based on my parents and grandparents lifetime, I have about 35-45 years left. If I were to only consider my lifetime I would only make improvements and capital investments that would carry me through the next 35-45 years. Like a 401k, or an IRA. Or, since I prefer to live off grid, an RV with a solar array and means to produce annual crops with no thoughts on sustainability. That is short sighted. I have children and grandchildren therefore my scope must be 100 years (the expected life expectancy of my grand kids).

When you place it in that context, it makes sense to invest in capital improvements that will not only benefit me for the next 35-45 years but in systems that will last a century. It makes sense to expand the ranch to 50 acres vs investing in a 1 acre plot of land. It makes sense to spend more installing very deep wells that will last a century regardless of future weather cycles vs a well that will only work if the weather remains at the current cycle. It makes sense to plant fruit orchards and self replicating food forests vs. mono cash crops that are susceptible to pests and weather changes.

If more people invested in our kids and grand kids futures by building living systems vs wasting money keeping them in the matrix, the matrix could collapse with minimal discomfort. Instead we have grown dependent upon systems designed to maintain our servitude and dependency.

Wed, 07/15/2015 - 00:07 | 6314048 Nobody For President
Nobody For President's picture

About 15 years ago, I planted a 100 redwoods on the east side of the ridge under taller tanoak shade trees. I'm gonna have me a redwood grove in about another 800 years!

(This is after planting about 6000 Douglasfirs on my 43 acres, plus a bunch on the neighbors 40, during my first 25 years on the place.) 

Here's another quote from Silvus (silviculture named after him, yep): "Men seldom plant trees until they grow wise."

Tue, 07/14/2015 - 09:27 | 6310458 mojojojo
mojojojo's picture

A great society is one where the present borrows wealth from the future. In essence, taxation without representation. Therefore, if I could vote in the US elections, I would vote Hillary.

Tue, 07/14/2015 - 09:34 | 6310491 Dr. Venkman
Dr. Venkman's picture

Not sure if serious. . .

Tue, 07/14/2015 - 09:51 | 6310550 mojojojo
mojojojo's picture

In a democracy, if one wishes to get elected, one needs to pander to a segment of society. Since the majority of people are not capable of identifying the fallacious rhetoric of their leaders, and legislation is largely enacted to suit the privileged and parasitical rent-seeking elites, then it is only important to pay lip service to your constituents. You and I don't pay for their elections, campaign contributions do. If the moneyed interests support both sides, then it doesn't matter who wins. This whole election thing is purely theatrical. Neither Bernie Sanders nor Rand Paul are going to pull the US out of the quicksand it is in.

Tue, 07/14/2015 - 10:21 | 6310647 Dr. Venkman
Dr. Venkman's picture

I think I understand. We are in quicksand, which can be found in marshes, which are dominated by grasses and/or reeds as opposed to trees. If someone had planted trees for shade, there would be branches to help survive the quicksand, either by pulling oneself to terra firma or by using the branch to increase bouyancy until help can arrive. However, if there were trees, it would be a swamp and there would be no quicksand. But there would be alligators. Shit man. that's dark.

Tue, 07/14/2015 - 13:56 | 6311591 mojojojo
mojojojo's picture

The United States and Greece share many commonalities. In this instance, a highly contagious disease, commonly contracted through unprotected mental intercourse with ideologues such as Krugman. This particular disease is known as Keynesianism. The disease debilitates the host by corrupting its cerebral cortex and establishing a degenerative addiction. This affliction forces the host to in-debt itself through debt monetization and debt instrumentation. As the disease worsens, a borrowing and spending frenzy occurs in a futile effort which exacerbates the condition. In the terminal phase of the disease, the host attempts to achieve escape velocity by borrowing itself out of debt.

Tue, 07/14/2015 - 09:53 | 6310556 mojojojo
mojojojo's picture

"A society grows great when old men don't plant trees whose shade they know they shall never sit in." Perhaps this version is more suitable.

Tue, 07/14/2015 - 16:30 | 6312375 detached.amusement
detached.amusement's picture

A society grows great when it rigorously prosecutes the fkn fraud and does not award and protect those who promulgate it

Tue, 07/14/2015 - 18:26 | 6312921 PhoQ
PhoQ's picture

Old man, plant some trees. When they're big enough for your children to enjoy, I'll bribe the mayor to declare the area blighted. Then the city will give the timber rights to my shady cronies.

Wed, 07/15/2015 - 00:21 | 6314067 odatruf
odatruf's picture

Until someone brings rope and the courage to use it; then the tree will have another purpose.

Tue, 07/14/2015 - 09:06 | 6310373 Infinite QE
Infinite QE's picture

Start executing bankers. Final solution.

Tue, 07/14/2015 - 09:06 | 6310374 kowalli
kowalli's picture

someone have balls

Tue, 07/14/2015 - 09:08 | 6310376 saints51
saints51's picture

blah blah blah. Shut the fuck up. It is time for the Greeks to bend over or hang that piece of shit Tsipras in the front lawn and any other banker or politician who supports an union and central bank. Take back your land Greeks.

Tue, 07/14/2015 - 09:08 | 6310378 Mick Shrimpton
Mick Shrimpton's picture

No deal until parliament votes.  Can we call it a "proposal" until then?

Tue, 07/14/2015 - 09:11 | 6310381 NoDebt
NoDebt's picture

"Europeans, even those who give not a damn for Greece, ought to beware."

I'm surprised that individual countries becoming vassal states of the European Borg Collective (led by Germany) is a revelation to him.  I always assumed that was the whole point of it.

There will be no debt restructuring or write-downs until Tsipras is gone.  Wouldn't be much of a vassal state if you couldn't replace it's leaders at will.

Tue, 07/14/2015 - 09:10 | 6310382 Brazen Heist
Brazen Heist's picture

Once "Damaged Goods" Tsipras is swept aside, Varoufakis for PM? He could be the one to lead Greece out of this shitshow.

I would love to see the reaction on the faces of all the Eurocrats if he gets elected as Greek PM.

Tue, 07/14/2015 - 09:13 | 6310402 NoDebt
NoDebt's picture

No fucking way.  His motorcycle will explode before they let that happen.

Tue, 07/14/2015 - 09:17 | 6310419 The man with po...
The man with pointy horns's picture

At least he would have died like a man.

Tue, 07/14/2015 - 10:49 | 6310777 Stumpy4516
Stumpy4516's picture

Yanis is and was a part of it.  He helped set up the moving of the greek pension monies to the bankers.  And he is still involved.

This is just recreating a false image that he is the rebel.  This allows him to be used in the future (publicly) to further the bankers agenda again. 

It is like say - calling for a vote of the people on a specific issue and then pretending the vote never happened and ignoring the vote.

This is theater by Yanis, again appearing to be the rebel and lending a voice of the people, when it is he who was instramental in setting the stage to remove greek sovereignty.

Memories sure are short.  Images sure are powerful.  Wishes sure do powerful.

People forget what he actually did, his PR of driving a cycle and wearing a cool leather jacket make him the rebel and people so wish for it to be.

Tue, 07/14/2015 - 09:11 | 6310387 itsallgreektome
itsallgreektome's picture

that weekend 12-13 of July 2015 will be surely marked in future historian's textbooks as the day the EU cracked.
Hell they might as well go all the way and foreclose our parliament replacing the ministers with low ranking German officials. If their only purpose is to pass measures and laws dictated and imposed by others with the whole Greek state's assets as a collateral, we could surely cut down costs by firing all the parliament members. 

Tue, 07/14/2015 - 09:13 | 6310396 Philo Beddoe
Philo Beddoe's picture

The project of European integration has, indeed, been fatally wounded over the past few days. And as Paul Krugman rightly says, whatever you think of Syriza, or Greece, it wasn’t the Greeks or Syriza who killed off the dream of a democratic, united Europe.

Alas, as a true patriot, I was on vacation the last few days to which I speak. Confuse me not for an empty suit. I was tired and needed a little R&R. As a Marxist I endorse Paul Krugman. You may wish to place your head in the nearest fan for this to make sense. 

Furthermore, I consider myself as you Yanks might call a Monday Morning Quarterback. I always make the right calls after viewing the game tapes. 

Sicnerrely, 

Yanis


Tue, 07/14/2015 - 09:13 | 6310398 indygo55
indygo55's picture

It is SO fucking obvious. Does EVERYONE have a gun to their heads? When will someone, anyone stand up and call to stop this? Is it you Yanis?

Tue, 07/14/2015 - 09:14 | 6310407 NoDebt
NoDebt's picture

Yes, never, no.

Tue, 07/14/2015 - 09:15 | 6310411 Unknown Poster
Unknown Poster's picture

The Greeks should just borrow money on the open market, that will fix the troika. /s

Tue, 07/14/2015 - 09:19 | 6310425 itsallgreektome
itsallgreektome's picture

at 30% plus an arm and a leg interest? great idea.

Tue, 07/14/2015 - 09:34 | 6310489 Unknown Poster
Unknown Poster's picture

At 30%, Corzine might lever up his clients money and lend that to the Greks.

Tue, 07/14/2015 - 09:16 | 6310412 deKevelioc
deKevelioc's picture

Yanis appears to be the real deal.

Tue, 07/14/2015 - 09:18 | 6310422 Philo Beddoe
Philo Beddoe's picture

Please, somebody, shoot me in the fucking head.  Make it quick. 

Tue, 07/14/2015 - 09:17 | 6310415 wildbad
wildbad's picture

Dear Greek People,

Do not despair.  Do not believe the people who drew you into this den of vipers. Stop complying with the €urotyrants' slow death program.  Follow iceland's plan and reject your odious and false debt.  Start anew, give your children a future.  Reject Schäuble and Merkel bankster defense tactics.  turn your backs on the Eurospiracy.

Print drachmas and start a popular campaign to have tourists come and enjoy your beautiful country.  In two years you will be back on the rght track.

Tue, 07/14/2015 - 09:23 | 6310440 itsallgreektome
itsallgreektome's picture

i ll say it again.EU agricultural (and not only) policies for 30 years left Greece in no place to  even attempt an Iceland route.At least not over a weekend or a month even.Also printing drachmas would need a 5 month preparation at least, and the whole thing should be communicated to people across the country,something harder to be done in Greece than in Iceland.
I dont doubt it can be a viable solution albeit a lengthy and longterm one,with proper planning and not knee jerk reactions and populist's dreams. 

Tue, 07/14/2015 - 09:16 | 6310418 Racer
Racer's picture

Any Greek politician who agrees to the terms of this ought to be charged with treason and branded a traitor

Tue, 07/14/2015 - 09:21 | 6310435 Czar of Defenes...
Czar of Defenestration's picture

Why are you giving this clown any more press?!?

 

"Waah!  Waaaaahhhhhh!!!! WAAAAHHHHHHH!!!!!

They called our bluff and now we have to pay or go broke!

That's not FAAAAIR!!!

We're Communist...err...Socialists...you can TRUST US!!!

We CAAAARE for the people!

We only threatened them a LITTLE bit!

They're MEAN!"

 

Like I said, what a clown.

 

It's best Greece votes down this offer.

It's best they take the tough route to recovery; it's the only one that will last.

Better for ALL parties involved.

Tue, 07/14/2015 - 09:28 | 6310465 Philo Beddoe
Philo Beddoe's picture

Y-anus would make a great offensive coordinator for the Seahawks. 

Tue, 07/14/2015 - 09:22 | 6310436 bullchit
bullchit's picture

"Tsipras Enters Parliament Den to Sell Aid Deal to Greeks"
....And should get what he deserves....."The Ides of July". 

Tue, 07/14/2015 - 09:22 | 6310438 Wahooo
Wahooo's picture

This is a complete annulment of Greek sovereignty? Sorry, but that happened when they joined the EU.

Tue, 07/14/2015 - 09:23 | 6310443 Piranha
Piranha's picture

yeah its how you take control over a country without using military

Tue, 07/14/2015 - 09:27 | 6310459 Herdee
Herdee's picture

If the vote is NO,that'll wake up northern Europeans fast.

Tue, 07/14/2015 - 09:31 | 6310474 HTZMR
HTZMR's picture

Well he would say that. I on the other hand think Greece is not a state but rather a self-service cash register for local elites and has more in common with Zambia than it does with Slovakia. Oh wait even Zambia paid back the IMF.

Tue, 07/14/2015 - 09:31 | 6310475 Reaper
Reaper's picture

Full of ifs, ands and buts signalling his token opposition. Even his words do not sting.

Tue, 07/14/2015 - 09:42 | 6310478 mog
mog's picture

Make no mistake about it.

The whole EU programme, with one ramp up after another - moving to 'ever greater political union' - under the German Empire - was originally dreamed up by Hitler and the entire intention from the first has been to turn all European countries into 'vassal' states of Germany.

The Fourth Reich indeed.

The Euro - a monstrous neo currency - designed to drain the life blood out of the weaker southern states - reduce them to penury and to then take direct control of them.

Greece is not the first - just the most beaten and brutallised.

We have a resurgent Germany - leopards do not change their spots and neither do Germans.

Banks not tanks this time but equally destuctive, evil and cruel.

Time to put Germany back in its bottle.

This time seal it tight.

No more forgiving half their debts.

Debts incurred in its vile bloodletting, rampage and mass murder across Europe, not just in 1939, but repeatedly.

And let Greece free.

Tue, 07/14/2015 - 10:34 | 6310717 IndianaJohn
IndianaJohn's picture

Could you be refering to white man's stand against communism? That is the essence of WW II. White man lost and the commies are in power in Brussels, London, New York, Washington and Tel Aviv. 

Tue, 07/14/2015 - 17:55 | 6312816 Raul44
Raul44's picture

I love this type of idiots like you. Germany did well before euro even existed and did not need it in the first place, in fact they did not favor it very much from what I know. They were forced to create EU with other countries as an experiment "to prevent future wars" - AND to be allowed to rejoin with its eastern part. Because in case you havent noticed, Germany never fully regained their autonomy since WW2 lost and remain vassal state to the puppet masters until today. Its not their Fourth Reich but of those who they lost war to! And once again, they are being blackmailed and drained from their hard earned wealth by suckers that cant produce only consume, run deficits and protest! Just like pre-WW2! So take your zionist head and flush it back in the toilet where it came from.

Tue, 07/14/2015 - 09:35 | 6310494 22winmag
22winmag's picture

Meanwhile in the US of A, I'm wondering which TEA PARTY bowel-movement members wll put pen to paper and sign whichever war-funding or spending bill comes up next.

Tue, 07/14/2015 - 09:55 | 6310561 silverer
silverer's picture

Tea Party foreign policy, from Wikipedia: Mead identifies two main trends, one somewhat personified by Paul and the other by Palin. "Paulites" have a Jeffersonian approach that seeks to avoid foreign military involvement. "Palinites", while seeking to avoid being drawn into unnecessary conflicts, favor a more aggressive response to maintaining America's primacy in international relations. Mead says that both groups share a distaste for "liberal internationalism".[47] Some Tea Party affiliated Republicans, such as Michele Bachmann, Jeff Duncan, Connie Mack IV, Jeff Flake, Tim Scott, Joe Walsh, Allen West, and Jason Chaffetz, voted for progressive Congressman Dennis Kucinich's resolution to withdraw U.S. military personnel from Libya.[48] In the Senate, three Tea Party backed Republicans, Jim DeMint, Mike Lee and Michael Crapo, voted to limit foreign aid to Libya, Pakistan and Egypt.[49] Tea Partiers in both houses of Congress have shown willingness to cut foreign aid. Most leading figures within the Tea Party both within and outside Congress opposed military intervention in Syria.

So yes, do you have specific names of the TEA PARTY bowel movement members?  I'm wondering who they are.

Wed, 07/15/2015 - 05:35 | 6314289 dreadnaught
dreadnaught's picture

most of them are too stupid to care about foriegn policy; They just want their guns, and to bomb the muslims- 

Tue, 07/14/2015 - 09:39 | 6310509 cookies anyone
cookies anyone's picture

you can put as much cream on the turd, but it will never be cake:

 

http://johnpilger.com/articles/the-problem-of-greece-is-not-only-a-trage...

Tue, 07/14/2015 - 09:41 | 6310517 RabbitOne
RabbitOne's picture

Heil Mammy Merkel!

Tue, 07/14/2015 - 09:59 | 6310578 XRAYD
XRAYD's picture

Ask not What we can do for your country, Greece. What can your country do for US? - anonymous banker.

The $50 Billion "assets" fund is just a start!

Tue, 07/14/2015 - 10:17 | 6310607 Dre4dwolf
Dre4dwolf's picture

The signal to European nations is now that, if you do not do what Germany wants you to do, they will overthrow your govt.

Its exactly like wwII, appeasement to Germany, then a big war history does indeed repeat it seems.

What country will be next to fall to Germany? How many countries will it take before a war starts?

 

All I can say is, the Greek people will not take kindly to this, there is already a great deal of tension between Germany and Greece from wwII , its not talked about much, but Greece essentially had its own mini holocaust wwII, Germany killed about 10% of the Greek people in Greece at the time almost as bad as poland.

Germany taking over Greece today will be perceived by most Greeks as an act of aggression and war.

If these "deals" are not reversed there is atleast a 65% chance that a Greek civil war against the infiltrated government of Greece will take place within the next two years.

 

Everyone is saying it.... this deal is a German Coup.... nothing less.

https://twitter.com/hashtag/thisIsACoup?src=hash

Tue, 07/14/2015 - 13:31 | 6311493 Free_Spirit
Free_Spirit's picture

"All I can say is, the Greek people will not take kindly to this"   - Ok, and we sympathise, we really do, but what are the Greek people actually going to do about it ??  Schauble more or less gave you the option to grexit and you didn't want to.  The only way out is to set your own currency again, own central bank, print some paper and default on the whole lot,  and seek Russian and chinese trade to get your economy going again. 

But that requires a bit of effort and the suns hot, the coffee bar net curtains are closed, there's ouzo on the shelf and tomorrow will be too late.  

Tue, 07/14/2015 - 17:00 | 6312545 GeneH3
GeneH3's picture

This is a serious opportunity to start a war, a bidding war for Greek islands. -- Russian and Chinese naval bases in the Med. -- what an opportunity!

Tue, 07/14/2015 - 10:10 | 6310610 Niall Of The Ni...
Niall Of The Nine Hostages's picture

You done, Yanis? Lovely. May it please you to permit a rejoinder from someone who has to work for a living.

The game is over. You lost. You didn't deliver on a single one of your promises.

What's really bothering you? That a Greek tax office radically reformed by the Germans might finally make your dad cough up his other set of books?

If you're actually worried about the old man going to prison, trust me, they're not going to lock him up at his age. What they will do is take the money you were hoping to cash in on when he croaked. Once they get serious they'll need maybe a few days to build prima facie cases for sending a LOT of rich Greeks to prison for tax evasion and fraud. Including you, for all I know.

So yeah, by this time next year you'd better have tenure somewhere outside Greece, because this is likely to be the last summer you'll be spending with Xenia in that EUR5000 a week villa, and as many far less fortunate men have found out, you can't restructure child support.

Xenia never wanted you to be finance minister of anything, and if she's anything like my wife (another daughter of the Balkans) when she was young, in a few years she'll consider spending all summer on a god-forsaken island in the old country with her douchebag father a fate worse than death. She'll get over it. There are plenty of beaches in Australia.

Tue, 07/14/2015 - 10:10 | 6310611 Toolshed
Toolshed's picture

Why is the fact that Greece's admission to the EU was the result of fraud engineered by Goldman Sachs and directed by Mario Draghi not receiving more attention? The blame for the entire fiasco should be laid at Super (dicksucker) Mario's feet for all to see. And then, Mario should be executed for crimes against humanity and GS should be permanently shut down with all assets auctioned off for the benefit of it's numerous victims and their survivors.

 

I think that is a precedent that is in serious need of being set.

Tue, 07/14/2015 - 10:10 | 6310616 overqualified
overqualified's picture

This idiot is still dreaming of a democratic EURSS (which is less plausible than pies in the sky) without realizing that they are euro-peons of a banksters' dicktatorship. What a damn fool. Living on other people's money and IOUs must be brain-damaging.

Tue, 07/14/2015 - 10:12 | 6310622 zen0
zen0's picture

In a recent radio interview Varoufakis admitted he did not expect the NO vote to win.

Also, he knows that Schauble wants the next best thing to a political union, which is a Euro veto on member countries budgets because Schauble told him so.

Tue, 07/14/2015 - 10:40 | 6310623 Arbysauce
Arbysauce's picture

Clowns to the left of me jokers to the right. Grow up and say 'Greece borrowed this money. We can't pay it back. This is what we are going to do about it.' Bottom line, they don't want the responsibility of leaving the euro and running things on their own. So they whine like teenagers whose allowance was suspended for swiping dads credit card.

Tue, 07/14/2015 - 10:14 | 6310627 The Shodge
The Shodge's picture

So now the Greeks complain their country has been taken over, and I believe them. But then: why did they choose that option while they could also have left the euro? It's what they voted for! Nothing makes sense, we're all being fooled here. The only thing sure is that the average person in Europe will lose.

Tue, 07/14/2015 - 10:18 | 6310645 Puncher75
Puncher75's picture

Lost me when he started quoting the idiot, non-economist, douchbag, fairy Krugman. What kind of dope must you be to give Krugman any credence whatsoever?

Tue, 07/14/2015 - 10:29 | 6310691 Baronneke
Baronneke's picture

The Greek people should start learning the German language as Greece is now a southern province of Germany.

 

Imo Yanis is the only one who sees it right, all the others are collared criminals.   Hang them high.

Tue, 07/14/2015 - 11:36 | 6310952 Arbysauce
Arbysauce's picture

The Greek people should start learning German self-reliance. Yanis is a douche.

Tue, 07/14/2015 - 10:59 | 6310816 dexter_morgan
dexter_morgan's picture

Again with the Varafakeis stuff? Yesterdays news, that ship has sailed, water under the bridge, etc. etc. etc.

Tue, 07/14/2015 - 11:11 | 6310850 fallin_knife
fallin_knife's picture

The Germans will own Greece and will use it for a vacation spot with the Greek people serving them.  Those not needed to run the tourist spots in Greece will be taken to Germany to work in the factories, the fields and the mines.  Germany has a lot of experience with this type of thing and should handle it well.

Tue, 07/14/2015 - 11:36 | 6310945 bluez
bluez's picture

Consider what I said to begin with: the CIA's Wikipedia currently says that Greece has a population of 10,815,197 (as of 2012), while New York City has a population of 8,491,079 (as of 2014). Who do you think holds more assets, Greece or New York City? Yeah, Greece is tiny and has no assets to speak of, no oil, just mostly nice beaches. So therefor there is nothing for the EU to raid, really. So... this is not about money. It must be about something else.

I can think of three possibilities: Someone is simply sending a message. Or else, someone is trying to break up the EU. Or someone wants to find out what the results of a rapid descent into third-worldism would be. An experiment, if you will.

The latter is likely. Notice that this event has the attention of everyone in the first world. We all know that they try things out in small places before they play them on big places, say like the USA.

Again, the Greek people didn't vote for this debt, and it's not their fault. They have voting machines, and lack a simple form of score voting. So, like in the US, they only get to vote for corrupt parties, not actual candidates, since there is some form of spoiler effect.

I am afraid they are simply guinea pigs.

Tue, 07/14/2015 - 12:30 | 6311212 bourbondave
bourbondave's picture

Not their fault?   Come on.  It's all our faults.  Just because these scum politicians aren't representing you doesn't mean they aren't doing what the majority of their electorate wants them to do.  The problem is that the politicians are lying crooks and the people (not just greece but everywhere) are too stupid.

Tue, 07/14/2015 - 12:06 | 6311124 bourbondave
bourbondave's picture

oh for fucks sake the shamelessness of these scum.  don't borrow the goddam money if you can't pay it back.  One thing is inarguable.  If the greeks didn't borrow money they didn't have, they wouldn't be in this mess.  Now the rest of the world is in a similar mess but maybe if we stopped allowing these sociapaths to get away with this garbage talk there would be hope for the rest of the world.

Tue, 07/14/2015 - 15:40 | 6312042 TsyFox
TsyFox's picture

IF YOU DON'T LIKE THE TERMS, JUST WHO IS FORCING YOU TO TAKE THE MONEY??

Tue, 07/14/2015 - 12:23 | 6311190 Joebloinvestor
Joebloinvestor's picture

So tell us Mr. Yannis, how did all this directly effect you?

Tue, 07/14/2015 - 12:25 | 6311197 dexter_morgan
dexter_morgan's picture

Well, I had to miss some vacation time on that island where I have that second home. Quite a sacrifice.

Tue, 07/14/2015 - 12:37 | 6311246 Bemused Observer
Bemused Observer's picture

"The greatest worry is that even a complete surrender on our part would lead to a deepening of the never-ending crisis."

You're God-damned right it is! Because, let me suggest a very good possibility should this capitulation not end the crisis...that the hard-right groups, like Golden Dawn, will rise up and rally the pissed-off masses. And that this time, the targets may not be Europe and its banksters, but those GREEKS who voted to cave.

There is an excellent chance of this devolving into a true civil war, with the Euro-Greeks on one side, and the nationalists on the other. The Euro-Greeks could very well find themselves being targeted for treason by their own neighbors.

The stupid Eurocrats are worried that cutting the Greeks a little slack would create 'moral hazard' that will cause others to want relief too...I suggest that the REAL moral hazard will come into play when enough people become aware that there is NO WAY OUT of debt-servitude under the current arrangements, and realize the "rules" aren't necessarily engraved in stone, and can be changed.

When they realize that there is no compelling reason to continue to play this game, and no reward for the efforts expended, watch out. Those who believe in the doctrine of TINA will be shocked to learn that not only IS there an alternative, there are MANY alternatives! And that the people they presume to rule can, at will, decide to give them a try, and that the preservation of their current wealth is NOT necessary for the success of such a new system.

Guess what? Banks, as we know them today, are NOT necessary for the prosperity of the world's people. Despite all their threats of disaster, the ones who will lose the most from their collapse are the banksters themselves. The world will, after a readjustment, carry on as usual without Goldman Sachs, etc...

Tue, 07/14/2015 - 12:51 | 6311304 Joebloinvestor
Joebloinvestor's picture

The "way out" is to arrest and prosecute those that were responsible for the criminal conspiracy that got Greece into the EU.

That would mean GS cronies and Greeks would go to jail.

Greece will never be fixed as long as a Greek is in charge.

Tue, 07/14/2015 - 14:54 | 6311794 3x2
3x2's picture
Varoufakis: Greek Deal Is "Coup", Turns Greece Into "Vassal" State, And Deals "Decisive Blow" To European Project

 

So, if I manage to borrow a shed load of cash to fund a huge party that I know full well that I can never pay back...

1) I should rely upon my freinds and neighbours to pay off my credit card.

2) I should get the (abstract concept of a...) 'Government' to pay off my credit card.

3) I should continue partying until I drop dead (using my credit card)

4) I should continue partying but throw my creditor the occasional (borrowed) '20' down her bra.

5) I should stop partying and get around to settling the bill. However painful.

Now I know full well that if I don't pay my mortgage then I loose my house. How is this different for 'countries'? Greece had a good party using cheap money and now needs to settle the debt.

Those of you that disagree can send your credit card details to this address ...

give.me.some.free.cash.so.i.can.continue.partying@3x2.bank.account.com

 

 

 

Tue, 07/14/2015 - 15:15 | 6311910 Morla
Morla's picture

If I lend you $300 billion so you can have a party, which of us is the idiot?

Tue, 07/14/2015 - 15:20 | 6311946 taketheredpill
taketheredpill's picture

 

 

Greece needs to suck it up and Nationalize, float a new Drachma, and start over.  Eventually that will happen and the Grrek people will endure a decade of shit.  The only wild card is how many years of pre-shit they have to go through before the Big Reset, as well as how many people die in the civil war that takes place in between the "pre-shit" and Big Reset.

 

 

 

Tue, 07/14/2015 - 15:37 | 6311806 Joebloinvestor
Joebloinvestor's picture

What a lot of fucking nerve.

A "vassal" state?

(I think he meant vessel)

Yeah no shit, a cookie jar for corrupt government officials with the help of banksters that Greece chooses not to prosecute.

Wed, 07/15/2015 - 04:52 | 6314284 dreadnaught
dreadnaught's picture

Vassal is correct

Tue, 07/14/2015 - 15:48 | 6312077 RabbitOne
RabbitOne's picture

I like the grade school version of this story better “…I you want da money…then you kissa da butt…”

Tue, 07/14/2015 - 15:52 | 6312108 idontcare
idontcare's picture

Well, if the Greeks want another outcome, they can always unleash their military might on Western Europe.   Oh yeah, that's right, they don't have any military might.  

 

See kids, an oversized military of trained Bonobos does have some use in the modern world beyond assuring that a country's interests in opiates, rare earth minerals & fossil fuels remain intact.

Tue, 07/14/2015 - 19:32 | 6313271 bluez
bluez's picture

 

OK, this may seem odd, yet it is true. Greece, ever fearful of its military, spends more on military than its neighbors. It has a very powerful military force. Possibly stronger than Germany's. But Germany does manufacture France's nuke bombs. Greece will buy a Pakistani one soon.

Thu, 07/16/2015 - 07:32 | 6318805 itsallgreektome
itsallgreektome's picture

we 've got more german leopards than germany.but they have the newer ones.Also on a same note Greece will -in no uncertain terms- NEVER even think of nukes.Eeevery one is pretty much on the same line against everything nuclear in Greece.Just FYI.

Thu, 07/16/2015 - 07:30 | 6318800 itsallgreektome
itsallgreektome's picture

Greece has no borders with Germany.Countries that border with Germany are its allies and would never agree for an army to pass through.Apart thw whole "hassle", the transportation costs alone, (fuel included) would be more than what is needed for the next months.
So, DENIED.

Tue, 07/14/2015 - 16:01 | 6312172 FunnyGirl
FunnyGirl's picture

This "surrender" of Greece which relegates it to indefinite poverty, shortages and economic maliase, does not recognize the culpabilty of the banks. Why doesn't yaris shout out the cause is the deceitful banking of Goldman Sachs! Sue GS i the World Court for inhumane fraud and deceit on the nation of Greece causing great humantarian suffering! Greek people must take back their dignity and their soveriegnty by themselves. WALK AWAY! Walk away from the debt! Simply do not do anything to comply with the Troika demands! What can they do - impose more poverty? Invade Greece with the NATO/US TANKS!  This is more insidious than the Nazi invasion. But the people need to take to the streets and take back their country! Use gold coins, silver coins or shells from the sea but DO NOT USE EUROS! Go to Russia and sell your agricultural products and tourist products to Russians and Chinese! I really feel for the plight of the Greeks - I think they are maybe just a few months ahead of AmericaNS WHO WILL BE FACING SIMILAR CHALLENGES!

Tue, 07/14/2015 - 21:37 | 6313652 Faeriedust
Faeriedust's picture

Americans print their own currency.  They are fundamentally NOT in the same bind as the Greeks, who are basically using a Deutschemark they cannot control and are letting themselves be controlled by its owners.

America will have some serious problems when the banks go belly-up again during this next year, but they will be able to keep printing dollars.  The banks can be supplied with currency when the bank runs begin.  And the country can feed itself, which is as good as it is going to get as the effects of China's stock market crash, the Puerto Rico default, and the collapse of the EU all hit at once.

 

Tue, 07/14/2015 - 22:03 | 6313747 PoasterToaster
PoasterToaster's picture

There seems to be a common feeling among a lot of people that a goverment printing its own currency somehow makes it safe against the types of events that have overtaken other governments in the past.  Wishful thinking.

Tue, 07/14/2015 - 16:04 | 6312209 Youri Carma
Youri Carma's picture

Varoufakis ABC https://www.youtube.com/watch?v=oJczEZ7fAZ8

Jul 13, 2015 Michael Chiotinis

Tue, 07/14/2015 - 17:21 | 6312667 VooDoo6Actual
VooDoo6Actual's picture

Risible. Of course it's a COUP & always was. Any country in the pre-scripted bail out progamned Hegelian Dialectic is.

The stupid still burns.

Tue, 07/14/2015 - 17:56 | 6312812 TrustbutVerify
TrustbutVerify's picture

Greece's debt put them where they are today.  No more.  No less.  They have no one to blame but themselves.  The Greece situation is the endgame of the socialist, government cradle-to-grave support model.  It buys off self-initiative that leads to every other problem seen in Greece.  The problem exists in sooo many other countries, including that percentage of the population that has grown up under the various socialistic welfare programs, government employment, and the unachieveable or fundable promises of entitlement programs in the United States.  

Tue, 07/14/2015 - 20:25 | 6313453 Wild E Coyote
Wild E Coyote's picture

Yeah, Greece can sit down and blame itself.

Or can give the middle finger to creditors and go back to being a advanced economy. They will not go hungry as they are basically a farming community. To hell with everything else.

I am thinking that America will clearly do the same. Maybe that is why IMF (US bitch) is pushing for same Debt reduction. 

 

Tue, 07/14/2015 - 22:00 | 6313732 PoasterToaster
PoasterToaster's picture

Oligarchs are trying to steal everything.  We have no one to blame except the oligarchs.

Wed, 07/15/2015 - 01:57 | 6314140 MsCreant
MsCreant's picture

I posted this elsewhere...

Here is what no one is saying. The system is thowing Greece to the wolves so that the banking world will not collapse on this crew's watch. 

Greece is a sacrifice they are willing to make.

Wed, 07/15/2015 - 01:46 | 6314152 dag
dag's picture

Yanis Varoufakis is a pseudo intellectual/con-artist who got caught trying to gamble with the big boys.

Now he's whining and crying because the big boys took all his little money.

Varoufakis, 

Greece should withdraw from the the EU

Greece should reinstitute the drachma.

Greece should reform its economy. 

Greece should not send little boys like you to negotiate with gangsters like the IMF and ECU.

Varoufakis, get some dignity, Man.

Wed, 07/15/2015 - 03:03 | 6314198 talisman
talisman's picture

the 50 Billion Euro is only the first pass,
and will buy the absolute cream of Greek assets.
the price may range as high as 20-25% of value.

the next pass of the foreclosure sale will cover
the bulk of what remains of worthwhile Greek assets
and the going price will be around 10% of value.

the third pass will sell off anything and everything left,
and the price will be 1 cent on the dollar, or less.

Typical of any bankruptcy clearance sale.  

Do NOT follow this link or you will be banned from the site!