GREEK NIGHTMARE: Athens’ crippled economy could DESTROY the Eurozone and SPARK GREXIT

GREECE’S troubled economy remains crippled with its citizens paying the price – one year on from the financial meltdown which pushed the eurozone to the brink.

Austerity measures slapped on the country by Brussels in return for a third bailout have meant stringent tax rises and harsh spending cuts.

Yet there is little sign that a recovery is in sight and many feel another disaster is looming.

Unemployment is close to 24 per cent. Continue reading

Brexit looks more likely after dramatic narrowing in EU referendum poll

Support for Britain remaining in the European Union falls by 16 points in latest Ipsos Mori poll

Britain’s potential exit from the European Union looked increasingly likely today as a new poll dramatically cut the “stay” campaign’s lead by 16 points.

In June 2015 support for Britain remaining in the EU had reached its highest point since 2000 with 61 per cent of people backing the country’s membership compared to just 27 per cent favouring an exit.

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Greek PM Alexis Tsipras resigns and calls for snap election

Pass the baton to another candidate running in the same race to give sovereignty over to Germany. It’s clear now that Tsipras never wanted a Grexit and was banking on the public voting “yes” in the referendum, which is precisely why he went against 61% of the public’s will. It backfired and now he has to get out and let the next PM handle the next phase in Greece’s planned capitulation. You don’t make mistakes like these because you’re dumb, rather, they’re calculated. Now he’s ducking out before he can receive any more blame and the ensuing chaos on the streets when the pensions are wiped out.

The next candidate will play to the public, say it’s all Tsipras’ fault, yet still run the nation in the same direction — just as it is in America with the Bush, Clinton and Obama administrations. In Russia today, for example, it’s more apparent. The FSB (KGB) runs all opposition. No matter what candidate wins, the FSB still wins.

Come September, we’ll see if the Greek people want to fool themselves and throw themselves under the bus again.

 

Greek prime minister Alexis Tsipras announces his resignation and calls for an early election, likely held in September

Alexis Tsipras, Greece’s prime minister, handed in his resignation and called a snap election on Thursday night, saying he had a “moral obligation” to lay his actions before the judgment of the nation.

Mr Tsipras made the drastic move amid an internal rebellion in which he lost the support of around a third of MPs within his Left-wing Syriza party, robbing him of a guaranteed parliamentary majority.

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Building a United States of Europe

Pushing for Unity

“What threatens us is not too much Europe, but too little Europe,” wrote French President François Hollande on July 19. He called for a new parliament to govern the eurozone, a new eurozone government that would have its own budget.

The idea of closer integration has strong support across Europe. Guy Verhofstadt, one of the top leaders in the European Parliament, tweeted his support of a “political union” during the latest iteration of the Greek crisis.

Most importantly, it has strong support in Berlin. German Finance Minister Wolfgang Schäuble called for a eurozone parliament and a “European budget commissioner” a year ago—almost the same recommendations as Hollande. Just two days before Hollande’s article, Spiegel Online published this interview with Schäuble. Continue reading

Corruption in Greece (I)

ATHENS/BERLIN (Own report) – The Greek government does not exclude the eventuality of indictments of German companies on charges of corruption, according to recent reports, on a contingency plan Athens has prepared for the event that Berlin forces it into state bankruptcy (“Grexit”). According to this plan, Athens would try to bring German companies to court – who have not or have only partially been subject of bribery investigations – to have them pay at least part of the restitution for damages caused by the alleged corruption, officially estimated in the billions. Siemens is the most famous example. A Greek parliamentary investigating committee estimated that, through systematic bribery, this Munich-based company has caused damages of two billion Euros in Greece. However, Siemens got off cheap in an out-of-court settlement and had to pay only 270 million Euros – hardly one fifth of its current quarterly profit. A court in Munich gave a Siemens manager a suspended sentence – significantly less than what he could have expected from a trial in Athens. Already in the fall of 2014, new legal proceedings had been opened in Athens to comprehensively investigate this systematic corruption.

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The Brussels Agreement

BERLIN/ROME/PARIS (Own report) – In several western and southern European countries, the agreement on Greece reached in Brussels signals a looming collapse of the continental post-war order and Germany’s revival as an ostentatious dictatorial power. Whereas social-democratic observers do not exclude an attenuation of the contradictions, southern European conservative media are among those who speak of a revival of German hegemonic ambitions, which had largely determined or triggered the First and Second World Wars. The consequences of the French-Italian submission during negotiations in Brussels are generating those fears, because Paris had not succeeded to and Rome had not even seriously attempted to thwart the German dictates of sovereignty over Greece. Both, Italy and France are aware of the dangers of becoming the next victim of German financial dictatorship. They are competing for admission in a northern European core Europe, whose membership will be decided by Berlin, in the case of a possible collapse of the European Union. Current events are directly linked to German foreign policy endeavors in the 1990s and the territorial expansion of Germany’s economic basis through the so-called reunification.

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‘Greece might no longer be a country by the end of this week’

There are only losers in the agreement clinched on Monday at dawn by Greek prime minister Alexis Tsipras and his eurozone partners. First and foremost the Greek people and the German and European leaders, believes the European press.

After a deal between Greek and eurozone leaders was hammered out following 17 hours of arduous negotiations, there is really nothing to cheer about, writes Michał Sutowski in Krytyka Polityczna. “With PM Tsipras’ back against the wall, the German government has pushed through nearly all its conditions; it’s a minor consolation for the Greeks that a ‘temporary Grexit’ turned out to be a negotiation stunt rather than a real proposal and that the restructuring fund will be located in Athens instead of Luxembourg”, writes Sutowski. He stresses that the negotiations have clearly shown the EU leaders’ goal was “to crush the Greeks’ resistance and not to reach a compromise” –

Angela Merkel had a chance to join the pantheon of the great, in a way, of “progressive” European conservatives. Had she forced through, against the German press and her own finance minister, a civilized reform package in exchange for a partial debt restructuring, she would have been on the same footing with Otto von Bismarck and Benjamin Disraeli. It seems though that she decided to become a ‘thrifty housewife’ instead. Continue reading

EU Exit Will Now Be “Threat To Those Who Don’t Behave The German Way,” BofA Says

While the Greek “compromise” deal may have averted an outright economic collapse in Greece in the short-term (although one would be hard pressed to describe the current situation on the ground as anything other than a depression) and may for the time being allow EU officials to cling to the notion that the euro is “indissoluble,” the fraught negotiations that took place over the weekend in Brussels laid bare for all to see the unbridgeable gap between EMU nations.

If there were any doubts about who runs the show, German FinMin Wolfgang Schaeuble erased them on Sunday by pushing through a term sheet that effectively strips Greece of its sovereignty on the way to seizing state assets and relegates its people to perpetual debt servitude. If this is the meaning of a currency “union”, it’s not entirely clear why any state would want to be a part of it. Continue reading

Greece capitulates at EU summit

At the cost of national sovereignty and against the will of the Greek people, who just last week voted no in a referendum, the land where democracy was born capitulates and falls under dictatorship.

In politics, when two parties (or more) with starkly contrasting ideologies (i.e. Republicans and Democrats) agree on a deal, 99.9% of the time it’s the citizens who pay the price.

Don’t expect the Marxist Tsipras government to stay in power long.

 

A Greek exit from the eurozone has been avoided after a weekend of tough talks, but the political cost of arriving at a deal is likely to be felt for years to come.

After 18 hours of negotiations, culimnating six months of wider talks, euro leaders emerged bleary-eyed on Monday morning (13 July) to announce a deal that will, eventually, see Greece get a new bailout if it takes painful reforms and if it agrees to intense scrutiny at every step of the way.

The immediate result was summed up by European Commission president Jean-Claude Juncker.

“There will be no Grexit”, he said. Continue reading

Greek crisis: surrender fiscal sovereignty in return for bailout, Merkel tells Tsipras

Are you starting to see the bigger picture yet? Yesterday it was Cyprus, today it’s Greece. Tomorrow it could be France, Italy and Spain.

 

You have not anchored Germany to Europe,… You have anchored Europe to a newly dominant, unified Germany. In the end, my friends, you’ll find it will not work.

– Margaret Thatcher

The Fourth Reich has landed.

 

German and French leaders press Greek leader for guarantees over austerity measures in what an EU official describes as ‘extensive mental waterboarding’

European leaders have confronted the Greek government with a draconian package of austerity measures entailing a surrender of fiscal sovereignty as the price of avoiding financial collapse and being ejected from the single currency bloc.

A weekend of high tension that threatened to break Europe in two climaxed on Sunday night at a summit of eurozone leaders in Brussels where the German chancellor, Angela Merkel, and President François Hollande of France presented Greece’s radical prime minister, Alexis Tsipras, with an ultimatum. Continue reading

A Greek exit will establish Berlin as the new geopolitical player to reckon with

Every day, people are becoming more awake and seeing it for what it is, yet articles like these still miss the bigger picture: The Euro was designed to fail.

It was known this many countries with too many differing economies and cultures could not get along in one basket in the first place — nobody is this dumb. Therefore, let them in even if they don’t qualify anyways and watch a crisis unfold. Create the crisis, break the countries and provide the pre-determined solution that shapes them into the United States of Europe mold you longed for. The Fourth Reich has landed and all roads lead to Berlin. Within the next few years expect Washington to be pushed out of Europe, politically and militarily. This would also be the end of NATO, which will be replaced by a European Army. Politically and economically, Germany wants its continent back.

 

If European Monetary Authorities could prevent a Lehman moment in case Greece has to leave the Euro we expect the euro to surge the coming months. Greece exiting the European Monetary Union will establish Berlin as the new geopolitical player to reckon with.

  • Greece exiting the EMU will be a victory for German elite and establish German dominance in the European Monetary Union.
  • A Greek exit will expose the relative weakness of the BRICS Bank versus European financial institutions like the EMU. The BRICS Bank fund will not be sufficient to rescue Greece. A BRICS bank not being able to help Greece will expose its relative weakness in comparison to the European financial institutions. It will be clear that only the ECB and the EMU have the financial capacity to solve problems of the magnitude of Greece. Continue reading

Varoufakis’ Stunning Accusation: Schauble Wants A Grexit “To Put The Fear Of God” Into The French

When Greece is soon turned into a German vassal state, the Fourth Reich will then turn to France, Italy and Spain. If France is taken down, the rest could likely follow suit. Remember to keep your eyes on the bigger picture: A United States of Europe after each targeted country is broken and reshaped to fit the mold. Yesterday it was Cyprus, today it’s Greece and tomorrow could be France.

 

Earlier we reported that Yanis Varoufakis, seemingly detained by “family reasons” would be unable to join his fellow parliamentarians and personally vote in what is likely the most important vote of Syriza’s administration: the one in which he and his party capitulate to the Troika and vote “Yes” to the proposal he and Tsipras urged everyone to reject just one week ago.

Subsequently, it was made clear what these family reasons are:

The self-described “erratic Marxist” will be on the nearby holiday island of … Aegina. In fact, he Tweeted that he reason for his absence is “family reasons”. Nevertheless, two hours before his Tweet was posted, the once obscure academic was spotted on the ferry boat “Phivos”, headed for Aegina, where his wife owns a stylish vacation home.

The author of the “global Minotaur” nevertheless sent a letter to the Parliament president saying he would vote “yes” for the proposal, although the letter will not be counted, given that Parliament regulations stipulate that only deputies on official Parliament business are allowed to cast votes via correspondence.

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Austerity or Democracy

ATHENS/BERLIN (Own report) – At Berlin’s insistence, Greece will not receive debt relief and will be forced to submit – contrary to the Greek population’s “No” last Sunday – to Germany’s austerity dictate, or exit the Eurozone. This is what the Eurogroup decided at its summit yesterday evening. Debt relief, as French Prime Minister Manuel Valls had been still considering yesterday afternoon, is out of the question, announced German Chancellor Angela Merkel following the meeting in Brussels. Athens will also have to present detailed austerity proposals by Thursday. European Commission President Jean-Claude Juncker explicitly declared, “if the Greek government is not doing what we expect” a “Grexit” will be initiated. According to insiders, cash will be available at Greek banks only for another two days. By withholding ECB emergency funding, Greece can be driven into collapse, at any time. Just prior to the summit, leading economists signed an appeal to Chancellor Merkel, asking her to stop the “never-ending austerity” – to no avail. In the meantime, even Washington has intervened in the debate. A special EU summit, convened for Sunday, will take the final decision on Greece’s future.

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Merkel Tired and Overwhelmed, Unable to Prevent EU Collapse – German Media

According to the newspaper, the EU consists of numerous imperfect institutions which have proved unable to function in times of the crisis. It has become a hostage to the Troika: the ECB, the IMF and the EU Commission which have totally failed.

Moreover, the EU member states are pursuing different goals: Southern countries want a different Europe, not a Europe of austerity, but of a growth, Italian Prime Minister Matteo Renzi said.

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The First Defeat

ATHENS/BERLIN/PARIS (Own report) – Germany’s imposition of its austerity policy suffered a first serious defeat in yesterday’s Greek referendum. Over 61 percent of the Greek voters rejected an agreement with the creditors that would have provided for a continuation of the German austerity measures. This defeat is all the more serious for Berlin, because German politicians had massively interfered in the Greek referendum debate. The decision whether there will be new negotiations – and if so, under what conditions – must now be taken. Whereas many Greeks celebrated the rejection of the austerity dictate yesterday evening, German politicians declared that it is “difficult to imagine” new negotiations with the government of Prime Minister Tsipras (the German Minister of the Economy, Sigmar Gabriel). Greece is heading toward a Grexit and a “humanitarian catastrophe” (Martin Schulz, President of the European Parliament). Paris however is risking conflict with Berlin. Yesterday evening, the governing Parti Socialiste (PS) took a clear stand “against the austerity measures,” which has “shriveled Greece’s Gross Domestic Product and driven a large number of Greeks into poverty.” Today’s meeting between the German chancellor and the French president may produce the first decisions.

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