After five months of melodramatic debt negotiations, it turns the Troika fiat money lenders are better poker players than the current Syriza government in Greece. It decided to bite the bullet, i.e. a six month supply of paper money in exchange of a sizable pension funds and an increase in VAT collections.
The Euro and dollar are neck in neck. Unemployment is rampant and many are facing the crisis of whether or not to leave the EU to find work. Some would say there’s been no recovery at all. Especially those who followed the trail of the Troika-a group meant to help the economy but might have destroyed it.
True to its elitist character, the EuroGroup just told the New Greek government not to provide freebies to its poor citizenry, so it could pay its usurious debts.
However, Tsipras administration is fully committed to fulfill its campaign promises and will be talking to Putin soon.
Submitted by Tyler Durden on 02/04/2015 16:25 -0500
Just what the market had hoped would not happen…
- *ECB SAYS IT LIFTS WAIVER ON GREEK GOVERNMENT DEBT AS COLLATERAL
- *ECB SAYS IT CAN’T ASSUME SUCCESSFUL CONCLUSION OF GREECE REVIEW
What this means simply is that since Greek banks are now unable to pledge Greek bonds as collateral and fund themselves, and liquidity is about to evaporate, the ECB has effectively just given a green light for Greek bank runs, as suddenly it has removed, both mathematically but worse politically, a key support pillar from underneath the already bailed out Greek banking system, (or merely a negotiating move to let Greece see just what kind of chaos this will create ahead of the big D-Day on Feb 25th when ELA could be withdrawn).
- European Commission Plans to Find Alternative to Troika of Greek Creditors
- Greece goes ‘cold turkey’ on loans: France to support debt relief, no chance of write-off
- Greek Elections Can Spark
Shift to European ‘New Deal’
“Nigel Farage commonly used “troika” to explain how the Greek government was run after the euro crisis in Greece. Farage pronounced “troika” as a derogatory term to refer to a “dictatorship” that is composed of a member of the International Monetary Fund, European Central Bank, and European Commission that “flies into Athens Airport and tells what the Greeks can or can not do.” [Wikipedia]
Greece, under the Syriza administration, is keeping its campaign promise of not taking any more bailout funds from the Union nor fully cooperating with it, effectively destroying the Union itself.
No less than Eurogroup chief Jeroen Dijsselbloem admitted this to be a fact.
Spaniards may be navigating g on the same track.
It is interesting to note that while Germany is threatening Greece about further “haircut”, or that the latter could be facing shortage of paper money soon, Russia is offering to bail Greece out should it decide to ask for it.
All of these mind-blowing events are happening within the first week only of Syriza Party”s hold on the Greek government. Yanis Varoufakis, the new finance minister, is also a blogger.
Watch the BBC interview on Yanis Varoufakis, too. It’s pretty clear the Cabal journalist is having a hard time.
by Dean Andromidas
Jan. 2—The possibility of an anti-bailout and anti-austerity government coming to power in Greece, led by coalition led by the left-wing Syriza party and the nationalist Independent Greeks, has sent terror through the European oligarchy, that their Eurozone, the Europe for the bankers, will collapse. It was in Greece, in 2010, that the imposition of brutal austerity began, in an attempt to save the hopelessly bankrupt European banking system. After Greece, came Ireland, Portugal, the fleecing of the savings of Cypriots, and bankers’ governments in Spain and Italy. The Greek elections on Jan. 25 could be the beginning of the end of this nightmare.
Continue reading Bankers Panic: Greek Election Could Herald Change in Europe