Posted on 07/15/2015 9:34:40 PM PDT by Kartographer
The agreement followed violent clashes in the country’s capital last night as protesters hurled petrol bombs at riot police after surrounding the Athens parliament ahead of the final deadline for the country's €86 billion bailout deal.
As flames erupted, police responded with tear gas against dozens of hooded anti-austerity demonstrators who set ablaze parts of Syntagma square.
(Excerpt) Read more at dailymail.co.uk ...
Tough choice. They either go viking on the bankers butts, of they go viking on the dead beats butts. We shall see which method has the better outcome. Iceland went viking on their bankers butts.
Iceland accepted the math of the situation and realized they couldn’t spend more than they made. The Greek people still don’t get that. Their politicians and bankers are finally coming to realize that the math WILL NEVER work if they keep spending the way they have for multiple decades.
Still Report #389 - Greece Erupts
https://www.youtube.com/watch?v=XfwRjDFdDVQ
Still Report #391 Greece Deal Coming Apart
https://www.youtube.com/watch?v=6zqNvmiRxtM
July 5: Greek Independence Day; July 15: Greek In Dependence Day
http://www.zerohedge.com/news/2015-07-15/july-5-greek-independence-day-july-15-greek-dependence-day
Presenting The “Greek Terms Of Surrender” As Annotated By Yanis Varoufakis
http://www.zerohedge.com/news/2015-07-15/presenting-greek-terms-surrender-annotated-yanis-varoufakis
I understand that major cuts need to be made to the dead wood here... But why did they even bother giving the public a vote on this? Just so they could turn around and say, “Ha ha! You thought your vote meant something?”
Amazing that they just don't get it. Most Greeks have no qualms about other people having to pick up the slack.
So, Greece foolishly got so far in debt that they could NEVER repay it, the ECB bailed out the banks on those bad loans by buying them for 100 cents on the dollar, Greece was given MORE (unpayable) loans so they can continue socialist folly and make interest payments on their other credit cards, er, bonds, their debt is now nearly triple what it was when they originally became over extended, 61% of Greeks voted against still more unpayable debt to keep the game going, and the Germans and the ECB keep pressing to make MORE loans to Greece in exchange for physical collateral.....
It is madness, is contrary to the real interests of the people of bankrupt Greece, but it won’t surprise me a bit for more loans to be given to paper over the underlying problems for a little longer.
Everyone knows that those debts will never be repaid, but that doesn’t matter, the game of make believe, pretend and extend, will continue for just as long as the players can make it go on ...
...and didn't Merkel (sp) say a few days ago that Greece should be "like Iceland"
According to Zero Hedge, there were enough no and abstain votes from the ruling Party that it no longer has a ruling coalition. So more chaos lies ahead.
You are correct. not an easy choice either way. but since both suck hard, I would have preferred to see the PM do what he was elected to do. Like so many he chickened out and folded.
I don’t see how Tsipras can hang on to his premiership.
He got elected on the promise that he was going to tell the euros where to shove it. Then he didn’t have the courage to accept the austerity deal and threw the hot potato at the greek people with a referendum in he campaigned loudly for the people to turn it down. Then a few days later, he accepts a deal that’s even harsher than the previous one, leaving the people feeling like total fools.
If he remains in power, the people will deserve him.
Tsipras apparently went to the same retarded school of negotiation as Obama and Kerry. The vote was a bluff, and the Germans called it because Tsipras had no cards. Greece got stuck with a worse deal than they had on the table before the vote.
A big difference between Iceland and Greece was that it was the 4 largest private banks in Iceland that were insolvent, not the government, like Greece. The EU wanted Iceland to bail out the banks because they wanted to get their money back. Iceland let the private banks go bankrupt instead of taking the private debt.
What Greece has done is madness. They cannot repay their debts, and if they had any sense, they would leave the Eurozone, default and get back the drachma and start to rebuild. Staying in the Eurozone and accepting these conditions will make them a permanent slave to Germany.
The hapless taxpayers of the EU could also do with their money not being thrown after bad.
People keep saying that, but why would Germany want to have Greece as a slave? They're high maintenance and don't produce much in return.
Greece owes Germany over 50 billion Euros, by getting the whole Eurozone to ‘bail out’ Greece, Germany is recouping some of that debt, at the expense of the rest of the Eurozone. If Greece left the EZ and defaulted, Germany would have to write all that money off in one stroke.
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