Jun 26

Greece

Greece Rejects Bailout Extension: Tsipras “Won’t Be Blackmailed”, Threatens Snap Elections (ZeroHedge, June 26, 2015):

Update: Protothema is reporting that Tsipras has confided in a fellow EU official that if the country’s creditors insist on sticking to pension and VAT red lines and if Friday’s bailout extension proposal (which the Greek government apparently views as a patronizing stopgap) is the troika’s final offer, he is prepared to call for snap elections.

Update: GREECE SAID TO REJECT EU15.5B BAILOUT EXTENSION PROPOSAL: ANA 

“[I will defend] democracy, solidarity, equality, mutual respect. These principles were not based on blackmails and ultimatum, and especially in these crucial times no one has the right to put in danger these principles. The Greek government will continue decisively to give the fight in favor of these principles, to continue to give the fight on behalf of the European people and of course on behalf of the Greek people.”

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One Response to “Greece Rejects Bailout Extension: Tsipras “Won’t Be Blackmailed”, Threatens Snap Elections”

  1. Marilyn Gjerdrum Says:

    I had to laugh at the headline “Won’t be Blackmailed”. What a joke, they have been blackmailed since this fiasco began. If Greece defaults or leaves the Euro, the four major Euro nations holding the majority of Greek debt will have their financial and economic weakness fully exposed.

    The four nations are Germany, France, Italy and Spain. Italy and Spain nearly collapsed less than two years ago. The debt level of German and French debt is double digit to GDP. In English, it means that every cent that comes in as income is already owed elsewhere. It means ZERO economic growth.

    Zero growth is the case with all Euro nations now…..and thanks to the trade bill passed in secret by Obama this day or yesterday (was in hospital again so not sure which day) it will get much worse for the US and the Euro. Such financial sabotage of one’s own country and allies is a new low; it is here to stay.

    We have grim times ahead. The crumbling of the Euro will savagely affect the millions of average guys who have carefully invested in the US stock market. It seemingly endless growth (reminds me of Enron) has attracted many small buyers as well as the few greedy guts who control the multimillion dollar funds and the direction of the market until things really start collapsing.

    We have all the Euro investments, the banking (shells with nothing left in them but debt), and others. This pending crash will affect everyone.

    Don’t be surprised to see the US step up to loan money to this endless scam…..

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