Posted on 07/04/2015 10:27:15 AM PDT by Tolerance Sucks Rocks
Sunday, Greeks should vote “no”!
Hellenic voters are being asked whether they accept the terms offered by the European Union, European Central Bank and International Monetary Fund to extend the bailout for Athens‘ troubled finances or give Prime Minister Tsipras a mandate to insist on a better deal.
Those conditions include more cuts in government supported pensions, higher taxes and labor market reforms other European governments’ are often not inclined to accept in the conduct of their own affairs.
Urging a Yes vote, European leaders and their supporters in private institutions claim more austerity would reinvigorate the Greek economy and permit Greeks to keep the euro as their currency, but such claims simply contradict the facts.
Already, the Troika, led by Merkel and IMF Managing Director Christine Legarde, has imposed five years of budget cuts, higher taxes and labor market adjustments. The Greeks have endured a 25 percent contraction in GDP, 25 percent cut in private sector wages and 25 percent unemployment.
Greece’s debt to GDP ratio has soared from 130 percent to 180 percent of GDP, and that is an impossible burden to repay.
The only solution is for Greece to replace existing bonds with securities having longer maturities and paying lower interest rates, and with reduced face value—essentially, a haircut for creditors.
European governments, either directly or through EU institutions, hold about €100 billion ($111 billion) of Greece’s foreign debt, and Merkel flat out refuses to entertain German taxpayers taking losses.
Yet, neither Germany’s finance ministry—nor any other European government or competent private institution—has tabled a credible analysis demonstrating how more austerity and labor market reforms (read more layoffs and wage cuts) will instigate growth and not result in even bigger losses for bondholders down the road.
(Excerpt) Read more at washingtontimes.com ...
Less than half of Greece's taxes are ever paid, yet the Greek government spends as if there was 100% compliance.
“Whatever landing an independent non-Euro Greece comes to, it will be a landing of their own making as people free and independent of the EU New World Order tyranny.”
Indeed. When I defaulted on my mortgage, was subsequently foreclosed on, kicked out of my (former) house and was unable to borrow another cent or get a credit card, I was finally free and independent of the tyranny of the banks! Like Janice said, “Freedom is just another word for nothing left to lose.”
Precisely. They will get austerity either way: if they choose to be irresponsible deadbeats or if they don’t.
Unfortunately the progressives will draw all the wrong conclusions.
Liberalism really is a mental disorder.
In general, I agree. However, bankruptcy & failure go hand in hand with success WHEN people are free to take risks. There is a reason that indentured servitude and debtors prisons are not part of the American fabric.
In my opinion, nothing is too big to fail. Let Greece fail and let the world see again why Socialism is a failed ideology. Let Germany and the EU recognize this reality.
As an aside, I would suggest that the answer to growing student loan debts is NOT as the EU prescribes for Greece and the U.S. Government mandates for Americans. The problem with education costs will never be resolved by NOT letting the corrupt and bloated education system fail. Rather, letting those with student loans that can not find work or will not work or are unable to compete against cheap foreign labor who also were educated here -allow them to discharge the debt via bankruptcy. This student loan sacred cow is killing what was once a free market education system AND creating a generation of indentured servants beholden to the Government who are in reality serfs and free in name only...
They should vote NO and repudiate the debt completely. There is no amount of austerity or belt tightening that is going to fix the problem. They’re bankrupt.
The conditions sound good, other than the tax hikes of course.
“Austerity”=spending cuts
spending cuts=good
“Conservatives” who oppose cutting spending and who would team up with communists aren’t conservatives at all.
Greece has the same problem as some US states. They spend way too much, especially on damn pensions for government workers that don’t deserve them.
Ah, thanks. I knew that there was massive tax evasion in Greece, so when they said, “raise taxes”, it just seemed like more idiocy. Cut the spending for certain, but when a society goes that far off the rails on paying their taxes I don’t see the redemption point.
The International Workers' Left
The Committee for a Workers' International
The Red Network of the Coalition of the Radical Left (actually a formal organization of Syriza directly)
The Communist Organization of Greece
The All Workers' Militant Front
The Marxist-Leninist Communist Party of Greece
Surely they are all fighting to defend Christianity and traditional marriage, right Nextrush?
I am glad somebody is working today.
At this point, I hate the 4th of July. It’s like Beirut out here. My poor old dog is TERRIFIED and I know how she feels cause I had the misfortune of having to walk down the block. I put on a rain slicker just cause I felt like I needed protection. I hope it dies down enough that I can sleep later. I sound like an 80 year old, don’t I?
Some people here are on this anti-EU kick. And I get it, the EU sucks. But it’s to the point that anyone who opposes something the EU is for is made out to be a hero. Hitler himself (or Stalin) could come back to life and rail against the EU and a few saps here would start sieg heiling.
yer an old crank!!!
Palestinians may criticize the President but when they do, it's probably because he's not doing something they want him to.
Agreeing with them just because they are disagreeing with the President would be stupid.
Likewise, these morons are criticizing the EU because it is being insufficiently Communist. Agreeing with the protestors is simply stupid. They are wrong on first principles.
The EU is at the spearhead of building the corporatist world with free markets for the big corporations and banks and free sex with no free speech for confederate flags or religious people opposed to gay marriage or whatever else is deemed ‘inappropriate” and I don’t think that’s a good combination.
The IMF, World Bank and others should stop giving money to dictators and tyrants. When the people overthrow such leaders, they should not have to pay back the debts run up by such lenders to those leaders, which funds usually have ended up in a Swiss bank.
By a very large margin.
Tsipras is anti-freedom, anti-market, and worst of all, anti-Christ.
Your position is simply wrong and untenable.
I see it the other way around and so does the Right anti-EU faction called “Independent Greeks” (not the fascist Golden Dawn) and their leader who is Defense Minister in the Tsipras led government Panos Kammenos.
I decided not to go to the big fireworks, why risk a terror attack. Didn’t even, for the first time, look at them from my roof, window, or even on TV. I guess it’s because I’ll be 77 this month. ;-)
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