Posted on 07/06/2015 3:20:22 AM PDT by Enlightened1
Greek Finance Minister Yanis Varoufakis resigned from his post Monday after Greek citizens voted to reject further austerity measures the day prior, the Associated Press reported.
Varoufakis said he was told shortly after the voters rejected Sunday's referendum regarding demands by international creditors to impose further austerity measures in exchange for a bailout package for its bankrupt economy, that the other eurozone finance ministers and Greece's other creditors would prefer he not attend the ministers' meetings.
Varoufakis issued an announcement saying Prime Minister Alexis Tsipras had judged that Varoufakis' resignation "might help achieve a deal" and that he was leaving the finance ministry for this reason Monday.
(Excerpt) Read more at foxnews.com ...
So I’m guessing he’s taking his 60 Euros/day ATM withdrawals and hanging it up, huh?
Who wants to bet he stays in Greece now and toughs it out with the rest of the socialists?
Does anyone remember the Simpson’s episode when Springfield Elementary struck oil under the school? When they found out they lost all the oil and money all the teachers asked, “What about all the stuff we wanted.”
There’s the Greeks. “We still want our free stuff.”
I guess this means Tsipras is interested in making some kind of deal with the EU after all.
Margaret Thatcher’s insight sums it up perfectly: “The problem with liberalism is that you eventually run out of other peoples’ money.”
In the end, their situation will lower everyone to the lowest common denominator - poverty.
A society that covets others’ money or assets, things, status or privilege always turns on its own when the low hanging fruit has been eaten.
They can’t help themselves, and eventually, starving rats will eat each other.
Greeks want their palms greased.
?????
That's not what Greeks grease
“I guess this means Tsipras is interested in making some kind of deal with the EU after all.”
Actually more the other way. To the European elite, the EU is EVERYTHING, it is their baby, their only child, they will not let it die - NO WAY!
They will find a way to keep Greece in, and Tsipras knows it - which is why the vote was so important to him - now he can set the conditions and Europe will have to simply abide by them.
Just watch.
Soon after the announcement of the referendum results, I was made aware of a certain preference by some Eurogroup participants, and assorted ‘partners’, for my… ‘absence’ from its meetings; an idea that the Prime Minister judged to be potentially helpful to him in reaching an agreement. For this reason I am leaving the Ministry of Finance today. I consider it my duty to help Alexis Tsipras exploit, as he sees fit, the capital that the Greek people granted us through yesterday’s referendum.
http://yanisvaroufakis.eu/2015/07/06/minister-no-more/
” I consider it my duty to help Alexis Tsipras exploit, as he sees fit, the capital that the Greek people granted us through yesterday’s referendum.”
I love it. The Greeks realize the election was just for leverage - meant to scare the Europeans that Greece wants a free ride and they will not back down.
So Europe will have to...as the only alternative is giving up on their gravy train.
I expect the EU will eventually back down to some extent too, they are just trying to figure out how to do it without making it look like they are backing down. Then there is the problem of the other debtor countries demanding the same deal that Greece gets, not sure how they hope to get around that aspect.
The cat being cowed into submission by the mouse?
I've read that Tsipras believes that the referendum vote will help him make a better deal, but I can't figure out why he would have more leverage.
The way I see it, the Greeks have voted that they don't want to pay back the loans; not a good tactic when you're trying to ask for another unsecured loan from the same bank.
What am I missing?
Prior to the referendum poll numbers were saying the exact opposite of what the election results came out to be. The EU thought they could scare Greek pensioners and gov workers into submission, but apparently that's not the case. Tsipras still wants a deal though, just one with less onerous terms. An outright Greek default on the debt would be very damaging to the EU financial system, so this game of chicken will continue, only now with Tsipras in a somewhat stronger position.
When you have to borrow money even to make the interest payment on your loans... well... you’re... uh... up a creek?
And if it turns out that the EU is willing to do that, then I guess the Greeks did indeed make a good move.
At first glance, it seems absurd that the EU would do that, but then again, they are Socialists at heart, and making irrational, and economically unwise decisions is what they do!
...saying Prime Minister Alexis Tsipras had judged that Varoufakis' resignation "might help achieve a deal"...Yeah, that should work.
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