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Troika Heat-Seeking Missile Destroys Greece
Last edited Tue May 24, 2016, 01:11 PM - Edit history (1)
by Robert Hunziker / May 23rd, 2016
The economy, the people, the heart and soul of Greece have been demolished by a lower order of bureaucratic seizure that plagues the world. It is scorched-earth economic warfare, ordinarily referred to as neoliberalism.
The newest twist/manipulation in negotiations with Troika for Greece survival (demise) in order to provide the country with 86 billion of which 90% pays off debt, 10% to the state, demands Greece cut pensions (again), raise taxes (again), privatize state assets (for a song), and deregulate (squelch) labor. Inspirational?
The country has already unloaded state assets like ports and airports at bottom-feeder prices. Gee whiz, after essentially giving away prized state assets, which define the Greek economy and define the people, GDP is expected to grow. How?
The newest twist/manipulation in negotiations with Troika for Greece survival (demise) in order to provide the country with 86 billion of which 90% pays off debt, 10% to the state, demands Greece cut pensions (again), raise taxes (again), privatize state assets (for a song), and deregulate (squelch) labor. Inspirational?
The country has already unloaded state assets like ports and airports at bottom-feeder prices. Gee whiz, after essentially giving away prized state assets, which define the Greek economy and define the people, GDP is expected to grow. How?
Bottom line, the people are stripped of assets in lieu of paying debts from which they benefitted very little. The upshot, according to Mr. Galbraith, a spirit of rebellion is growing and spreading, likely beyond Greece to Portugal, Spain, and Italy.
By all appearances, the Troika group is not clever enough to help Greece by any means other than slashing and burning and stomping on its lifeblood. Which brings to mind Chile in the 1970s under General Augusto Pinochet, dictator 1973-1990, a student of Milton Friedman and Henry Kissinger and of how neoliberal tendencies have been superlatively perfected over the ensuing decades. Troikas 100-proof.
There will be more resistance, Galbraith warns. Its the only sensible thing. The Greek people are being maneuvered into a position where they cannot pay their mortgages, and they are being dispossessed from their homes. For what? For debts that were incurred under previous governments for completely useless things where the benefits went to German construction companies and French arms firms. The notion that this debt should be paid is absurd.1
Since in Greece there is no longer a political outlet, it will become more unpleasant as the fires burn. Thats the price ultimately that both Greeks and Europeans will bear from accepting a set of policy recommendations dictated by economists, driven by ideology, utterly disconnected from the reality of what it takes to restore a viable economic and social entity. (Galbraith)
By all appearances, the Troika group is not clever enough to help Greece by any means other than slashing and burning and stomping on its lifeblood. Which brings to mind Chile in the 1970s under General Augusto Pinochet, dictator 1973-1990, a student of Milton Friedman and Henry Kissinger and of how neoliberal tendencies have been superlatively perfected over the ensuing decades. Troikas 100-proof.
There will be more resistance, Galbraith warns. Its the only sensible thing. The Greek people are being maneuvered into a position where they cannot pay their mortgages, and they are being dispossessed from their homes. For what? For debts that were incurred under previous governments for completely useless things where the benefits went to German construction companies and French arms firms. The notion that this debt should be paid is absurd.1
Full article: http://dissidentvoice.org/2016/05/troika-heat-seeking-missile-destroys-greece/
The Financial Invasion of Greece
By Michael Hudson and Sharmini Peries
Source: The Real News
May 24, 2016
HUDSON: The IMF says it will not reduce Greeces debt by a single penny. It will keep the debt in place. The problem is the way that the European central banks keep their balance sheets, if it breaks down Greeces debt owed to the IMF then the countries Germany, France, and other countries whose banks are bailed out will have to take a loss and they refuse to lose a single penny. So the IMF has not made a creative proposal. It has repeated what it said a year ago without changing a single word. It says okay, were going to keep every penny of debt in place but were going to give you a fudging number. Were only going to charge you 1.5% interest and you wont have to pay the debt for 25 years. So you get a debt mark [ ] you wont have to pay interests for 25 years and well charge you only a little bit of interest.
Theres only one kicker. Youre going to have to cancel your pensions, write them down, impose austerity, privatize your government, and youre going to have to shrink your economy so that it will shrink by about 1, 2, 3% a year so that the 1.5% interest that were charging as little as it is, is going to absorb all the income growth you have. Every penny of growth of have from the next 25 years youll have to end up paying the German banks. Now we know you cant do it. We know that when you cancel the pensions youre going to shrink. We know your labors on strike. We know theyre going to immigrate.
But theres a way out. You can sell your ports, your land, your public utilities, your railroads, your airports, anything you have you can sell to the Germans and at the end of this time you wont have a single thing and all we ask is that all you Greeks get out of our country, now that we own you. Thats what the IMF is saying. Its not creative, its absolutely brutal. Thats why the Greeks are out on strike.
Theres only one kicker. Youre going to have to cancel your pensions, write them down, impose austerity, privatize your government, and youre going to have to shrink your economy so that it will shrink by about 1, 2, 3% a year so that the 1.5% interest that were charging as little as it is, is going to absorb all the income growth you have. Every penny of growth of have from the next 25 years youll have to end up paying the German banks. Now we know you cant do it. We know that when you cancel the pensions youre going to shrink. We know your labors on strike. We know theyre going to immigrate.
But theres a way out. You can sell your ports, your land, your public utilities, your railroads, your airports, anything you have you can sell to the Germans and at the end of this time you wont have a single thing and all we ask is that all you Greeks get out of our country, now that we own you. Thats what the IMF is saying. Its not creative, its absolutely brutal. Thats why the Greeks are out on strike.
HUDSON: Because theyre using finance as the new means of war. There is a war going on in Europe but its not a military war anymore. Theyre now using finance instead of war and theyre using finance to say, we can grab your country. We can put you out of work. We can control you and we dont have to kill you, we can just make you immigrate by taking away your pensions and taking all your money. Theres a land grab just as if it were an invasion to grab Greeces ports, to grab Greeces railroads, and to grab everything else. This is war.
The IMF is preparing to bail out Ukraine, to say you dont have to pay your debts that you owe to Russia or any governments that the U.S. doesnt like. You have to sell off your land to George [Sherouse] and the people who the U.S. government does like. Look at the duel standard that the IMF is imposing on Greece compared to what its doing for the Ukrainian government. You see that the IMF has become a tool of the New Cold War and the Syriza people and the Greeks can do is point out how unfair this is and to try to let the world know that what is happening is a movement way to the right wing of the political spectrum and that finance is war.
So the IMF says that were going to break the rules of that and were going to lend, essentially because the U.S. tells us to do that and Greece is going to have to pay so we can demonstrate that if Spain tries to stand up and pay its pensions to people, if France pays its labor, if Italy pays its labor, were going to smash their economies, were going to smash their labor unions, and were going to smash their labor just as we do to Greece. Greece is a demonstration very much like when the Nazis bombed Spain, in the Picasso drew the great drawing for. This is the IMFs version of the Nazi bombing of Spain to say, this is whats going to happen to labor throughout Europe if you dont surrender.
Full article: https://zcomm.org/znetarticle/the-financial-invasion-of-greece/
By Yanis Varoufakis and Amy Goodman
Source: Democracy Now
Published on Apr 28, 2016
http://democracynow.org - As the White House is backing calls for Greece to continue to implement widespread austerity measures, we spend the hour with former Greek Finance Minister Yanis Varoufakis. Earlier this week, negotiations between Greece and international creditors hit an impasse over the bankers demands for extra austerity measures. The International Monetary Fund is demanding cutting Greek pensions and eliminating income-tax exemptions if Greece does not hit its budget targets. "Cutting down pension is not reform. Its like confusing butchery for surgery," says Varoufakis. He served as the Syriza partys first finance minister after the left-wing party took power in 2015, after promoting an anti-austerity platform. He is in the United States promoting his new book, "And the Weak Suffer What They Must?: Europes Crisis and Americas Economic Future." Earlier this year, he launched a new pan-European umbrella organization called Democracy in Europe Movement 2025, or DiEM25.
Published on Apr 28, 2016
http://democracynow.org - We continue our conversation with former Greek Finance Minister Yanis Varoufakis as the White House is backing calls for Greece to continue to implement widespread austerity measures, following President Obamas meeting with German Chancellor Angela Merkel earlier this week. Greece and its international creditors are once again negotiating the terms of the bailout and the extent of the austerity measures creditors can impose. Varoufakis responds to the German governments claim that the majority of Germans oppose giving more money to Greece, and addresses the previous bailouts. "What happened to that money? It wasnt money for Greece. It was money for the banks," Varoufakis says. "The Greek people took on the largest loan in human history on behalf of German and French bankers." He notes the conditions of the loan "guaranteed our national income would shrink by one-third. So it was impossible to repay that money." He says he opposes taking additional funds until the countrys economy is more stable.
Published on Apr 28, 2016
http://democracynow.org - The International Monetary Fund is demanding additional austerity measures from Greece if it does not hit its budget targets. Its the latest impasse in years of fierce political clashes between Greece and international creditors. We are joined by a man who had a front-row seat to these battles: the former Greek finance minister for the anti-austerity Syriza party, Yanis Varoufakis. In his new book, "And the Weak Suffer What They Must?: Europes Crisis and Americas Economic Future," he describes how he helped lead Greeces battle against European Central bankers and a historic referendum in which Greeks resoundingly voted down austerity. But only days after the "no" vote, he resigned. Varoufakis elaborates on the resignation statement he issued last July, when he wrote, "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." He famously said at the time, "I shall wear the creditors loathing with pride."
(bbm) WTF interest does the White House have in this?? These people are really suffering already. Suicides spiked a few years ago, people are hungry and many have lost homes and employment, health coverage, etc. Why on earth push for further austerity?
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