The IMF Leaks Greece
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Esther Bubley Soldiers with their girls at the Indianapolis bus station 1943 Whenever secret or confidential information or documents are leaked to th
[See the full post at: The IMF Leaks Greece]Don’t tell me,,,Grexit any day now,,,oh,,,and big deflation all around?
Leaks? Everything is leaked now. The high bid gets the info.
The ends justify the means, don’t-cha-know?
Not sure if I understood the current immediate crisis with Greek debt, but here is what I got so far.
1) The 2015 debt payments are relatively large compared to the following years 2016+, so the big hurdle is getting through 2015.
2) From 2016 and onwards it is likely that Greece will manage to make its payments without (too much) paying old debt with new debt.
3) To get through 2015 Greece need around 7.5B Euros in new debt to make payments on old debts,
4) The EU won’t lend them that unless they agree to further austerity
5) The further austerity is supposed to make it easier for Greece to recover and service their debts beyond 2015.
6) Further austerity (fireing cleaning ladies, teachers and doctors) is in reality unlikely (according to Syrzia) to improve the situation in Greece long term. Many others agree on this too.If the hurdle really is 2015 payments and getting passed that would mean the crisis might be over, why isn’t one or both sides giving in, instead of making small sum of 7.5B Euros blow up the entire debt and default the country.
The Troika could spin the Greek offer in media and make it look like they won and provide the required 7.5B Euros.
Syrzia could make promises they don’t have to deliver on (like so many politicians before them) and get the 7.5B Euros.
Or both could give in and get past this relatively small crisis.I get the feelling neither side wants to solve the crisis and get on with the plan of recovering, since they know there is not going to be a real recovery. Instead they want to be able to blame eachother when it all blows up.
The only plan for real recovery is exiting the Euro.
What matters is control, not reality. Those-who-must-be-in-control have already decided Greece is out. They just need to blame it on Greece (or Russia) and neither is being cooperative about taking the blame. But don’t worry, since they’ve already decided, it’ll happen. Need a catastrophe to happen to stop Spain and France from flipping to Syriza-like questions about the status quo, preferably with the peak hardship on the eve of elections.
Submit or die. You did not submit, therefore, you are “wasting our time” therefore, you must be destroyed as an example to others who might consider not submitting but thinking of their citizens.
They print so much money each week, they could solve this tiny crisis with a handshake. They have not, which means they don’t want to. Which means they want the crisis. Which in a way means they “staged” the crisis, made it happen when it didn’t have to. And once “staged” no doubt have game plans to play out as it unfolds, which in a way means they are steering, guiding, directed the crisis they “staged” and chose. But I’d expect no less. It would be irresponsible not to have those plans, or not to make those decisions about accepting Syriza’s requirements or not. Gives one a different perspective on policy though, no?
Critical thinking is a burden.
Is critical thinking a survival asset? If so …
There will only be a few lucky people and only critical thinkers after the bottleneck.Dr. Diablo – agreed. CHS had a post on what is owed by Greece. Of the $284 billion loaned to Greece since 2010, only 8% reached the people of Greece, but 92% went to (accidentally fell into the hands of – ha!) Greek and European financial institutions.
What does Greece owe? $323 billion. It owes 10% of that to the IMF, 6% to the European Central Bank, 1% to foreign banks, and 60% to the Eurozone.
“Although much has been written about the Troika (the International Monetary Fund–IMF, the European Central Bank–ECB, and the Eurozone), this chart reveals that the IMF and the ECB have relatively little skin in the game. If Greece defaults on all its debts, neither the IMF nor the ECB will be dealt a crippling blow.
The Eurozone’s constituent nations will not be so fortunate: they are on the hook for most of Greece’s loans. Should the loans be written off, the losses will go directly to the nations that ponied up the bailouts and other funds.”
https://www.oftwominds.com/blogmay15/Greece-default5-15.html
Reposting another good article: “Misrule of the Few – How the Oligarchs Ruined Greece”.
You are right about control, but basically this is about killing SYRIZA and any other political party that would stand up to EU / ECB / IMF / Berlin hegemony and The Great Euro Project.
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