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Greek Parliament In Eleventh Hour Discussions On Bailout- Live Feed
Greek lawmakers are now set to vote on the final draft of the country's third bailout program. If the proposal doesn't clear parliament, eurozone finance ministers will likely delay implementation of the ESM program, setting up the possibility that Athens will be forced to tap the remaining funds in the EFSM for a bridge loan in order to make a €3.2 billion payment to the ECB next week.
More from Bloomberg:
Greece will be forced to accept a bridge loan if lawmakers don’t approve the country’s bailout before a meeting of euro-area finance ministers later Friday, Finance Minister Euclid Tsakalotos says in parliament.
Euro-area finance ministers late won’t sign off on plan if it hasn’t yet been passed through Greek parliament.
As a reminder, the MOU includes around 40 new laws, including what Kathimerini describes as "a barrage of new taxes." Here's a rundown:
A diesel fuel tax for farmers going from 66 euros per 1,000 liters to 200 euros/1,000 liters from October 1, 2015, and to 330 euros by October 1, 2016. Farmers’ income tax to be paid in advance will rise from 27.5 percent to 55 percent. Income tax for farmers is set to rise from 13 to 20 percent for 2016 and to 26 percent for 2017.
Freelancers will be subject to a gradual increase from 55 to 75 percent in advanced tax payments for income earned in 2015, increasing to 100 percent in 2016. The 2 percent tax break for single payments on income tax is also being abolished from January 1, 2015.
Private education, previously untaxed, will be taxed at 23 percent, including the tutoring schools (frontistiria) that most Greeks send their children to but excluding preschools. Reduced value-added tax rates for islands are to be abolished completely by the end of 2016, with enforcement staggered across three groups of islands from October 1, 2015 to January 1, 2017.
As we noted earlier, expect some MPs in Tsipras’ coalition government to vote against the deal (incidentally, Panagiotis Lafazanis announced the formation of a new "political movement" today), but between the PM’s call for an end to Syriza infighting earlier this month and the support of opposition parties, the bailout will likely pass.
Live feed:
Full bailout documents
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Tragedy or comedy?
Tragicomedy. The Greeks should learn from their mistakes and kick the bankers out like Iceland did. Otherwise they're doomed to repeat their mistake. And the consequences of said mistake are because when money fails it's because the root of the problem is MONEY itself>>
https://biblicisminstitute.wordpress.com/2015/08/14/when-money-is-the-pr...
So, if the Greek government agrees to steal more money from its wealthier citizens (higher taxes) to give to the European banks, then the European banks will agree to give a little bit of the money back to the Greek government (bail out) to give even less to its poorer citizens (entitlements) that voted it in to power.
Very disappointing...
I was hoping the "Live Feed" part was the Greeks tossing the Goldman Sachs bankers that got them into this mess to some hungry lions and crocodiles.....because farmers have a hard time moving their farms the fuck out of Greece.
How confident when their take-home income is cut by almost 40%?
Think the new way: You decrease food production and sales so that taxes will be the same in dollars. You are now living the life! Not working as hard and as many hours, and telling everyone how smart you are because you solved the problems within the framework that the government provided. After all, the government will make it illegal to own any money anyway. It's pure genius! And the reason that the Greeks will be wildly successful and set an example for non-productive people everywhere! Three jeers for socialism!
I was hoping the "Live Feed" part was the Greeks hanging the Goldman Sachs bankers ...
"when money fails it's because the root of the problem is MONEY itself"
when currency fails it's because the root of the problem is CURRENCY itself.
There fixed it for ya.
Go home Greece....yer Drunk again....
The rest of Greece should secede from the 10 block radius around Syntagma Square. Wall it off and hand it to the Germans. Here's your fucking collateral back. They're the ones you loaned the money to, so go collect from them. The rest of us are done with you.
And Washington DC should be next.
The problem is that Greece has been hit by more plagues than it can handle:
1. A swarm of locusts called illegal refugees
2. A cancer of politicians
3. A demographic deluge of oldies
4. A falling birthrate
5. An unpayable and unserviceable level of debt
6. A large exodus of its best and brightest minds
7. A still bloated byzantine bureaucracy
8. A high unemployment rate
9 A banking system ready to topple.
10. A burdensome taxation system and tax level that is matched by the taxpayers' constant attempts to circumvent it.
11. An overvalued currency
12. A German overlord that is intent on strangling and stripping the place"
13. A still docile population that has not revolted
14. A dangerous neighbour in Turkey that necessitates very heavy military expenditure.
15. A legal system that has failed to punish politicians and bankers for past misdeeds,
16. A broke retirement system due to government bonds being written off.
17. An IMF that poisoned the economy with its cures
18. A world economy that is not far behind with its own problems
19, A large portion of its population is still in denial and has still not changed its attitudes.
20. It still can't get its act together to claim what is due after Germany's murderous and destructive WWII stay in Greece.
Good list. But to not call out GS directly is laughable.
Perhaps because Neverland purchased interest rate swaps from Goldman as well?
so fuckin true
Already happened in DC. So that's a bad idea!
Moar free shit!
spiderman towels ?
Go find all the politicians that put you in debt and execute them publicly.
Declare bankruptcy.
Leave the Eurozone.
Start over. Call Iceland for directions on how to be successful.
It is a foregone conclusion that TPTB have ALL THE POLITICAL PARTIES Bought and Paid for. From the So-called Communist Party KKE, to the so-called Ultra right Chrysi Avgi (Golden Dawn)
The Memoranda are going to be voted into LAW.
What gives them away is their professed preference for the EURO The Fiat currency that is controlled by the Organised Banksters and Backed by Violence (Cops and Parastate organs posing as Anarchists). The weapon that Enslaves We the People.
Thats right, raise taxes. How fuckin smart is that?
Whatever it takes to end the week with Gold under $1100 and Silver under $15 is what will happen. This is a fucking circus.
Oh people.....you are all Obama's debt slaves now as well. He is responsible for more than half the debt. What a great leader!!
America, you are getting what you deserve. You buy Hollywood fantasy so easily, no wonder you buy into Freddy the Free Loader!
Met him once in Palm Springs. Very nice man to a sixteen year old...to me he was the Robin Williams of the day. Bumped into him in a restaurant and was flabbergasted and giddy. I used to sneak out of bed to watch his show. Told him about it, and he smiled and signed a linen napkin from the table.
If I knew where it was now, it might be worth a minor fortune.
https://www.youtube.com/watch?v=V-GNqwL02bA
What? 11th hour negotiations?
Wasn't there a "NO" vote by the populace?
Then, didn't the ECB and the E.U. "solve" this by twisting arms and pulling the hairs of spineless politicians?
I wonder if anyone threatened "tanks in the streets if you don't do this!" like that crusty old wanker Hank Paulson?
"Hang 'em high!"
This isn't a bailout vote. This is a vote to literally give the country to the EU. One down, many to go. The elite will own them all, all from shit printed out of thin air. WAKE THE FUCK UP!
A ship or airplane can take you anywhere. The news will take you straight to Hell.
What happened to Puerto Rico & Ukraine? bankruptsy much?
No, the Ukraine will get bailed out courtesy of the EU and the US, until which time the US moves in and takes over. Then, the average dope in the street in that country will be put on the hook for the bill. When citizens allow their governments to borrow money, they have to understand that it is THEM, not the government, that took out the loan. Puerto Rico will get bought by the Hunt Brothers, or something else totally silly. Or the Puerto Ricans will somehow be made to pay somebody to take it all because it sounds like a good idea. It will then go from a Commonwealth to a Commonwealthless.
ebola? what happened to the african ebola outbreak ?
Wait, what? You can buy an AK-47 or RPG in Europe for a few hundred Euros (accordind to another Zerohedge article) and the Greeks are going to let a few hundred politicians sell them into servitude for generations? I guess apathy does have a cost.
I look at the live feed and see well fed, well groomed and well healed Greek politicians pontificating on the backs of anyone, but them.
The only dumber folks are the Germans who will pay for this nonsense.
They bought in to propaganda in 1933, so what's to conclude they haven't learned a thing?
Have you ever experienced a time when you needed to take a dump but you were late for work or an appointment......I mean ya really have to take a dump so you cant wait....so you sit on the bowl, and just a little comes out....You know there is more, but friggin tic toc, you are going to be late...so ya just sit there in total frustration.....squeezing with all your might...its in there, just a few more seconds...just a few more seconds...tic toc.....well, thats how I feel about this greece situation....just shit already
This document can be shortened down to a couple of sentences: "We will make is sound as nice as possible, but in the end, you'd better cough up what you owe, or else. Now sign here."
We turned on.
We tuned into the Greek circus.
Now wer're dropping the fuck out because nobody shives a git.
my sentiments exactly - don't post any more greece news until its on fire, literally - thanks
For fucks sake
Old German saying...
Scheiße, or get off ze crappa!
Concur with below comments...is this parliament "kicking the can" again...I guess the old can just gave up the ghost...they need a new can? won't happen...they cannot afford a new can...they have not paid for the old can..
People voted no. parliament votes yes. why is it not a surprise that Greeks accept the money...