Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Defiant Greeks reject EU demands as Syriza readies IOU currency
The Telegraph ^ | 7/5/15 | Ambrose Evans-Pritchard

Posted on 07/05/2015 9:10:39 PM PDT by catnipman

"If necessary, we will issue parallel liquidity and California-style IOU's, in an electronic form. We should have done it a week ago," said Yanis Varoufakis, the finance minister.

...

Syriza sources say the Greek ministry of finance is examining options to take direct control of the banking system

...

They want a new team installed, one that is willing to draw on the central bank's secret reserves, and to take the provocative step in extremis of creating euros.

"We have to restore stability to the system, with or without the help of the ECB. We have the capacity to print €20 notes," said one.

...

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Foreign Affairs; Germany; Government; Politics/Elections; United Kingdom
KEYWORDS: alexistsipras; currency; europeanunion; france; germany; greece; greeks; iou; nato; printing; syriza; unitedkingdom; yanisvaroufakis
Navigation: use the links below to view more comments.
first previous 1-2021-4041-42 next last
To: catnipman

21 posted on 07/05/2015 10:19:15 PM PDT by dfwgator
[ Post Reply | Private Reply | To 1 | View Replies]

To: catnipman

i have no expertise at all about what may be happening in Greece so I will defer to your judgement

but events there sure look like a trial run for what may be perpetrated on USA soon by certain leftist elements in our govt


22 posted on 07/05/2015 10:19:23 PM PDT by faithhopecharity (For in much wisdom is much vexation; and he that increaseth knowledge increaseth sorrow.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DesertRhino

You’re probably right. Obama loves signing promissory notes over to the Chinese.


23 posted on 07/05/2015 10:19:30 PM PDT by tumblindice (America's founding fathers: all armed conservatives.)
[ Post Reply | Private Reply | To 12 | View Replies]

To: familyop

Looks like they are asking to become a ward of China and/or Russia.


24 posted on 07/05/2015 10:21:20 PM PDT by dfwgator
[ Post Reply | Private Reply | To 20 | View Replies]

To: catnipman

Germany, France and a few other nations have probably been doing some military planning in regards to Greece for a long time.


25 posted on 07/05/2015 10:21:54 PM PDT by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: dfwgator

Interesting in light of geography and watchful eyes of several nations along routes in and out of Greece. Anything Russian would be thoroughly analyzed and well covered.


26 posted on 07/05/2015 10:25:10 PM PDT by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
[ Post Reply | Private Reply | To 24 | View Replies]

To: catnipman

If Syriza intends to seize power, they forgot to control the Defense Ministry.

Turns out that Syriza came short of a majority in the last election and brought in the Conservative anti-EU faction as their coalition partners.

Panos Kammenos, leader of the “Independent Greeks”, is the Defense Minister and he’s not a Communist.

“Independent Greeks” are not Fascists who are the “Golden Dawn”.

The “Indpendent Greeks” were kicked out of the Republican type party of Greece, New Democracy, for being anti-EU.

Greece may have a Leftist led government, but its a ‘pinprick’ compared to the Socialist-Cartel Capitalists-Sexual Progressives of the European Union.


27 posted on 07/05/2015 10:31:37 PM PDT by Nextrush (FREEDOM IS EVERYBODY'S BUSINESS, REMEMBER PASTOR NIEMOLLER)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Mariner

“see how the EU can institute the ultimate moral hazard”

They gave up the right to impose it on others when they all demanded a bailout on the 2008 crisis which they were all willing and knowing players in. They stopped recognizing moral hazard and substituted too big to fail.


28 posted on 07/05/2015 10:32:02 PM PDT by DesertRhino (I was standing with a rifle, waiting for soviet paratroopers, but communists just ran for office)
[ Post Reply | Private Reply | To 9 | View Replies]

To: familyop

That’s loony tunes to think Germany would ever send the military to Greece. Especially in any scenario besides the Greek government begging them to come for some reason, say a Turkish invasion or something.

No, rest assured that Germany would find it utterly impossible to send any military to Greece. Its laughable.


29 posted on 07/05/2015 10:35:20 PM PDT by DesertRhino (I was standing with a rifle, waiting for soviet paratroopers, but communists just ran for office)
[ Post Reply | Private Reply | To 25 | View Replies]

To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; cardinal4; ColdOne; ...

30 posted on 07/05/2015 11:09:56 PM PDT by SunkenCiv (What do we want? REGIME CHANGE! When do we want it? NOW)
[ Post Reply | Private Reply | View Replies]

To: catnipman

Question.

If Greece went back to the drachma, would it be worth the same as the Soviet ruble during the Cold War? The equivalent of Monopoly money in the international markets?


31 posted on 07/05/2015 11:10:12 PM PDT by Ophiucus
[ Post Reply | Private Reply | To 1 | View Replies]

To: familyop
Germany, France and a few other nations have probably been doing some military planning in regards to Greece for a long time.

All countries have contingency plans for all countries, even their "friends" I would suspect it is possible Germany and France might be dusting off their plans.

32 posted on 07/05/2015 11:10:49 PM PDT by Mark17 (Thy goodness faileth never. Good shepherd may I sing thy praise, within thy house forever. Amen)
[ Post Reply | Private Reply | To 25 | View Replies]

To: familyop

Sounds to me like they’re taking clues from the USA.


33 posted on 07/05/2015 11:14:20 PM PDT by SaveFerris (Be a blessing to a stranger today for some have entertained angels unaware)
[ Post Reply | Private Reply | To 18 | View Replies]

To: Nextrush
The Independent Greeks bring 13 seats to the Coalition. Syriza brings 149. Thus, even if every member of your Independent Greeks was a clone of Ronald Reagan, they are still a small drop within their coalition with the communist/anti-capitalist Syriza.

And since you mentioned the Fascist Golden Dawn, for the 'No' vote, a coalition of Syriza, your beloved Independent Greeks, and the Fascist/Neo-Nazi Golden Dawn were supporting it.

Anyway, apparently the strategy of the Syriza/Independent Greek governing coalition is to print money. I hope it works better for them than it did for the Weimar Republic and Zimbabwe. After all, to communist thinkers effort and hope overcomes economics and reality.

34 posted on 07/05/2015 11:19:08 PM PDT by spetznaz (Nuclear-tipped Ballistic Missiles: The Ultimate Phallic Symbol)
[ Post Reply | Private Reply | To 27 | View Replies]

To: Ophiucus
If Greece went back to the drachma, would it be worth the same as the Soviet ruble during the Cold War?

Correct. The quality of a nation's currency in International trade is determined by the quality of investments that can be bought with it. Anyone investing in Greek assets of any kind nowadays is simply asking to be robbed. FYI this is also why going on the gold standard wouldn't make the ruble or the renminbi the dominant international currency (though it would be good for the Russian or Chinese economies).

35 posted on 07/05/2015 11:30:52 PM PDT by SeeSharp
[ Post Reply | Private Reply | To 31 | View Replies]

To: spetznaz
I hope it works better for them than it did for the Weimar Republic and Zimbabwe.

Economically it will work better since they'll be printing Euros, thus exporting the effects of inflation to Germany, France, and the rest. Politically, not so well. I predict the EU will invent for itself a new sweeping power to arrest and try national leaders.

36 posted on 07/05/2015 11:37:13 PM PDT by SeeSharp
[ Post Reply | Private Reply | To 34 | View Replies]

To: familyop
Whoa. That doesn't look good. Are they taking advice from Kim Jong Un?

He has a printing set up that makes excellent $100 bills.....

maybe the Greeks can pay him in olive oil and feta cheese.

37 posted on 07/05/2015 11:44:46 PM PDT by spokeshave
[ Post Reply | Private Reply | To 18 | View Replies]

To: SeeSharp

Good point, and it will be interesting to see how the EU deals with the Greeks printing 20 Euro notes. I do hope that the Greek economy gets properly hit, and the fruits of socialism are seen by all.


38 posted on 07/06/2015 1:03:19 AM PDT by spetznaz (Nuclear-tipped Ballistic Missiles: The Ultimate Phallic Symbol)
[ Post Reply | Private Reply | To 36 | View Replies]

To: catnipman

It looks like Germany is going to be tempted to drop a bunker buster on the Greek Mint.


39 posted on 07/06/2015 2:21:34 AM PDT by chopperman
[ Post Reply | Private Reply | To 1 | View Replies]

To: Mariner

The Germans fought two world wars trying to conquer Europe and finally succeeded with the EU

Bet they wish like hell they hadn’t


40 posted on 07/06/2015 3:30:46 AM PDT by Jimmy Valentine (DemocRATS - when they speak, they lie; when they are silent, they are stealing the American Dream)
[ Post Reply | Private Reply | To 9 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-42 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson