Posted on 07/08/2015 5:24:31 AM PDT by Wiz-Nerd
As we reported yesterday, following the latest European leaders summit, Greece was given until the end of the week to come up with a proposal for sweeping reforms in return for loans that will keep the country from crashing out of Europe's currency bloc and into economic ruin.
"The stark reality is that we have only five days left ... Until now I have avoided talking about deadlines, but tonight I have to say loud and clear that the final deadline ends this week," European Council President Donald Tusk told a news conference.
It did that moments ago when Greece officially submitted a request for a three-year loan facility from the European Stability Mechanism also promising to implement tax reform, and pension measures at the beginning of next week, which had been the biggest sticking point in negotiations for the past 5 months. And to think Syriza's main election promise was no more bailouts and the Greek people resoundly said not to just this over the weekend.
As Bloomberg reports, the loan will be used to meet Greece’s debt obligations, and to ensure financial system stability. Greece proposed immediate implementation of measures, including tax, pension reforms as early as next week. Govt to detail its proposals for specific reform agenda on July 9 at latest or tomorrow.
My point is that once it IS on you---that it IS your cash, your insulin---you tend to get serious. I'm not saying it won't be very painful. But as long as it was the EU's house "burning down," no one was going to care.
Agreed. But isn’t this the “Iceland” solution that has, so far, worked pretty well there?
Icelanders are not Greeks. They are Scandinavian stock and will pick up the pieces and work hard to achieve a goal. The Mediterranean Greeks are like Californians. They want their freebies and will throw a fit if they don’t get them...................
I wonder how the Greek population is going to feel about their leaders fleeing the country with their fortunes when the SHTF?
This is like when your deadbeat, crack-addicted brother comes to you after refusing treatment a hundred times, VOCIFEROUSLY, and says, “Ok. I give up. Just give me 1000 more dollars, and I will enter treatment next week.”
A banker of my acquaintance pointed out that the entire economy of Greece is about the same size as the economy of Louisiana.
Texas: I love that! I think you're right.
The proposal reportedly contains some degree of debt forgiveness. So it’s still a win for them.
So Tsipras backs down even after winning the referendum, guess he was never serious about anything. More extend and pretend. I wonder how the people and his own party are going to react to this?
Greece officially submitted a request for a three-year loan facility from the European Stability Mechanism also promising to implement tax reform, and pension measures at the beginning of next week, which had been the biggest sticking point in negotiations for the past 5 months. And to think Syriza's main election promise was no more bailouts and the Greek people resoundly said not to just this over the weekend.FINOs and astroturf hardest hit!
Is Putin Playing Puppetmaster in Greece?
http://www.thedailybeast.com/articles/2015/07/08/is-putin-playing-puppetmaster-in-greece.html
Beware of Russians bearing gifts
Several years ago when the elected Greece government was removed and replaced with technocrats I thought the people would burn the place down.
Now I wonder if they are so beaten down they prefer serfdom over freedom.
Thanks for this find!
To me it seems John R. Schindler is the guy who gives best analyses on what is going on in that part of the world from intelligence officers perspective. Too bad he will never be a famous pundit as he will always insist saying that Snowden is a traitor (and I agree), but that is not something main stream media allows.
Yes, and you may read these as well:
https://twitter.com/RadioFreeTom
https://twitter.com/edwardlucas
https://twitter.com/michaeldweiss
https://twitter.com/RobPulseNews
Thanks! I was already reading Edward Lucas. His book “Deception: Spies, Lies and How Russia Dupes the West” was excellent.
So what the hell was the point of that vote last week?
1. Set everything on fire
2. Now comes communism
They knew that regular Greeks don't want to set their country on fire so they arranged this situation, where it would happen, but instead of the communists in charge it would be blamed on Europe.
We'll see next week when rest of the Europe decides what will actually happen.
I am not using the word "communist" as an exaggeration. This is the actual picture of their prime minister.
Red background. He’s obviously a commie!!!!
Eyeroll
Stop it. I’m not going to say it again.
Stop it. I’m not going to say it again.
Stop it. I’m not going to say it again.
etc., etc., etc.
Picture was just illustrative.
https://en.wikipedia.org/wiki/Alexis_Tsipras
“Tsipras joined the Communist Youth of Greece in the late 1980s. In the early 1990s, as a student at Ampelokipoi Multi-disciplinary High School”
“As a university student, Tsipras joined the ranks of the renascent left-wing movement, particularly the “Enceladus” group”
“After the departure of the Communist Party of Greece from Synaspismos in 1991, Tsipras remained in the coalition. In May 1999 he became the first political secretary of Synaspismos’ youth-wing, the Synaspismos Youth. During this period he was described as a centrist, other than the very clear radical, left-wing profile he would later maintain as leader of Synaspismos.”
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