Jul 25

Syriza “Rebels” Planned To Ransack Greek Mint, Seize Cash Reserves, Arrest Central Bank Governor (ZeroHedge, July 24, 2015):

Earlier this week, in an FT op-ed, Eurointelligence’s Wolfgang Münchau said that in his estimation, an EMU exit remains the most likely outcome for Greece. The reason, Münchau explained, is that “[Greek PM Alexis] Tsipras ended up with another very lousy bailout deal. And this one suffers from the same fundamental flaws as its predecessors.” Münchau went on to describe, in vivid detail, how he believes a Grexit would unfold:

My own most likely Grexit scenario is a different one yet again. Donald Tusk, the president of the European Council, hinted at this in his interview with the Financial Times last week when he said that he felt “something revolutionary” in the air. He is on to something. The most probable scenario for me is Grexit through insurrection.

Whether he knew it when he penned those words or not, Münchau’s vision for Greece nearly unfolded just over a week ago when, according to FT, Syriza’s Left Platform (led by outspoken former Energy Minister Panayotis Lafazanis) met in at the Oscar hotel in a “shabby” downtown district of Athens and plotted to ransack the Greek mint, seize the country’s currency reserves, and arrest central bank chief Yannis Stournaras. Continue reading »

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Jul 24

Torn-Greek-Flag

Troika Returns To A Conquered Greece Amid Anger, Security Threats (ZeroHedge, July 24, 2015):

“The letter has been sent,” a Greek government official told MNI on Friday, referring to a formal (if begrudging) invite from Athens delivered to the IMF and the rest of the dreaded troika.

The trio – comprised of the IMF, the ECB, and the European Commission – was famously booted from Greece in late January by a rambunctious Yanis Varoufakis who proclaimed that Syriza, which had just swept to power on an anti-austerity platform, didn’t “plan to cooperate with that committee.”  Continue reading »

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Jul 22

Ongoing Greece Deposit Run Forces ECB To Boost Greek ELA Ceiling Yet Again (ZeroHedge, July 22, 2015):

Despite the imploring of Greek bankers for Greeks to “take your money out of your chests and houses – which are not safe in any case – and deposit at banks,” it appears the Greek bank deposit run continues. As The ECB just announced another €900 million increase in Emergency Liquidity Assistance, strongly suggesting that in the 2 days since the last increase, banks are once again insolvent facing a liquidity crunch as the “banks are trustworthy” propaganda falls on very deaf Greek ears.

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Jul 22

It’s Not Just Greece: Total European Debt Hits New All Time High (ZeroHedge, July 22, 2015)

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Jul 22

Hyper-Mario-Draghi

– Citi Predicts Greek Hyperinflation Breaks Out In Two Years (ZeroHedge, July 21, 2015):

Earlier, we showed that according to Citigroup (among many) for Greece to have any hope of surviving, it needs a masive debt haircut: the bigger, the better, with Citi tossing out numbers as high as €130 billion. Still, even if Greece does get debt relief, as long as it remains in the Eurozone, its economy has nothing but hell to look forward to.

Here is how Citi previews the next few years: Continue reading »

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Jul 22

Define Irony: Greek Banks Refuse To Buy ESM Bonds To Fund Greek Bailout (ZeroHedge, July 21, 2015):

In the latest example of what happens when circular funding schemes begin to trip over each other, National Bank of Greece has refused to participate in an auction for paper issued by the bailout fund which is set to recapitalize the Greek banking sector.

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Jul 21

Greek Prime Minister Asked Putin For $10 Billion To “Print Drachmas”, Greek Media Reports (ZeroHedge, July 21, 2015):

Back in January, when we reported what the very first official act of open European defiance by the then-brand new Greek prime minister Tsipras was (as a reminder it was his visit of a local rifle range where Nazis executed 200 Greeks on May 1, 1944) we noted that this was the start of a clear Greek pivot away from Europe and toward Russia.

We further commented on many of the things that have since come to pass:

Europe, for one, will be most displeased that Greece has decided to put its people first in the chain of priority over offshore bidders of Greek assets. Most displeased, especially since the liquidation sale of Greece is part of the Greek bailout agreement: an agreement which as the Troika has repeatedly stated, is not up for renegotiation Continue reading »

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Jul 21

rofl

Greeks Laugh As Bankers Beg Depositors To Return Money (ZeroHedge, July 21, 2015):

Banks Union appeals to Greeks to return their money to banks (Keep Talking Greece, July 20, 2015):

President of Greek Banks Association Louka Katseli appealed at the citizens to return their money to the banks. “Banks are absolutely trustworthy,” Katseli told Mega TV “as guaranteed by the ECB and the Bank Association, but they would have been even more powerful if 40 billion euros had not been withdrawn in the last months.

Katseli, a former PASOK Minister, appealed to citizens to return their deposits  to the banks “now that the banks are open” after a three-week holiday and capital controls.

“Let’s all help our economy,” Katseli urged Greeks and added “If you take your money out of your chests and houses – which are not safe in any case – and deposit at banks, this will enhance liquidity.”

“There will be no need to “haircut” deposits in the future if we all act responsibly,” she added -cheerfully I suppose.

Katseli’s appeal triggered laughter among Greeks and one stressed with hint to capital controls “Oh yes! I will bring my money back to the bank and get it back 60 by 60 euro.”

Another one noted “Ah sure! Banks will never see my money again, I prefer to buy tonnes of peanuts with it.”

Continue reading »

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Jul 21

H/t reader M.G.:

“Greedy guts carving up Greek Isles…………This is criminal.”



21.07.2015

Description:

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss Greek prime ministers bearing referendums as privatisation schemes move full steam ahead as billionaires and celebrities begin buying up Greek islands on the cheap. In the second half, Max interviews Eddy Travia of Coinsilium.com about the company’s upcoming IPO on the Alternative Investment Market (AIM) in London. Coinsilium Group facilitates the implementation of blockchain technology products and services alongside media and corporate advisory services.

Recorded from RT, Keiser Report , July 21, 2015

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Jul 21

EU-Poster-Tower-Of-Babel

The President Of France Wants Eurozone Members To Transfer Their Sovereignty To A United States Of Europe (Economic Collapse,. July 19, 2015):

The President of France has come up with a very creative way of solving the European debt crisis.  On Sunday, a piece authored by French President Francois Hollande suggested that the ultimate solution to the problems currently plaguing Europe would be for every member of the eurozone to transfer all of their sovereignty to a newly created federal government.  In other words, it would essentially be a “United States of Europe”.  This federal government would have a prime minister, a parliament, a federal budget and a federal treasury.  Presumably, the current national governments in Europe would continue to function much like state governments in the U.S. do.  In the end, there may be some benefits to such a union – particularly for the weaker members of the eurozone.  But at what cost would those benefits come? Continue reading »

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Jul 19

euro-domino

Portugal’s Debts Are (Also) Unsustainable (Sinclair & Co., July 18, 2015):

Everyone seems to be focusing on Greece these days – a country so indebted that it needs even more loans to repay just a fraction of its gigantic credits. Clearly this is unsustainable and something has to give. Even the IMF agrees. But what about the other Southern European countries? Actually, Portugal’s financial situation is looking particularly shaky, and any hiccups could have serious cross-border repercussions from Madrid all the way to Berlin.

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Jul 18

illuminati-banker

All Hail Our Banking Overlords! (Peak Prosperity, July 18, 2015):

You really have to be paying attention to see what’s truly going on these days. The keepers of the system, that is the banking elites, now openly control everything — though you’d never know that by listening to the media.

Consider this:

Eurozone backs €7bn bridging loan

Jul 16, 2105

Eurozone ministers have agreed to give Greece a €7bn (£5bn) bridging loan from an EU-wide fund to keep its finances afloat until a bailout is approved.

The loan is expected to be confirmed on Friday by all EU member states.

In another development, the European Central Bank (ECB) agreed to increase emergency funding to Greece for the first time since it was frozen in June.

The decisions were made after Greek MPs passed tough reforms as part of a eurozone bailout deal.

How generous of the finance ministers of all those EU member states to agree to a “bridge loan” that will help Greece “keep its finances afloat”. This should provide the people of Greece with a bit of breathing room, right? Maybe access to their bank accounts (finally!), perhaps?

No, not at all. Here’s what the entirety of the “”loan”” will go towards instead:

The bridging loan means Greece will be able to repay debts to the ECB and IMF on Monday.

Ummmm…that “money” will not ever go anywhere near Greece. Continue reading »

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Jul 18

Varoufakis-oligarchy

Let’s take a look where his wife, Danae Stratou, is coming from:

GreekReporter:

“Stratou was born to an elite family in Athens, Greece, in 1964. She graduated from London’s St. Martins College of Art and Design and evolved into a remarkable artist. However, even if she is the girl that wanted to live like common people and did so, Greece’s society would not allow her to be seen as a commoner because of her family name. This is why she probably left the country at an early stage of her life.

The artist is related — on her father’s side– to the Stratos family, who founded the Piraiki Patraiki textile industry in the Peloponnese, the largest textile company in Greek history.

Her mother is Eleni Potaga-Stratou, a legend in modern Greek art, whose projects are hosted in galleries and venues in Greece and abroad.”

* * *

varoufakis-hand-signangela-merkel


Varoufakis Slams Bailout #3 As “Greatest Macroeconomic Disaster In History” While Tsipras “Doesn’t Eat Or Sleep” (ZeroHedge, July 18, 2015):

n an rare convergence of Greek and German viewpoints, overnight former Greek finance minister Yanis Varoufakis told the BBC that “economic reforms imposed on his country by creditors are “going to fail”, ahead of talks on a huge bailout. At the same time, Germany’s most noted Eurosceptic, Hans-Werner Sinn, in an interview with the newspaper “Passauer Neue Presse” also earlier today warned that any new aid would be “totally worthless” and “would never come back.”

In what was practically a race who can find harsher terms to describe the Greek bailout, Varoufakis said that Greece was subject to a programme that will “go down in history as the greatest disaster of macroeconomic management ever”. Continue reading »

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Jul 18

draghi prayer


Was Greece Set Up To Fail? (The Automatic Earth, July 18, 2015):

An entire economy is being deliberately suffocated, and all in all it’s just total madness. Quiet madness, though (update: and then the riots broke out..).

Two things I’ve been repeatedly asked to convey to you are that: Continue reading »

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Jul 18

Bilderberg-2011

Flashback:

Germany’s Former Chancellor And Bilderberg Member Helmut Kohl Admits: I Acted Like A Dictator To Bring In The Euro


Euro

Little-Known History of the Euro: Crisis Was Baked In from the Start (Washington’s Blog, July 17, 2015):

You’ve heard that the Euro was created to provide two benefits for Europe:

1. Unite Germany, France and other countries in a peaceful political situation, to prevent repeats of World War I and II

2. Create a macro-zone to compete against the economic strength of the U.S.

So how did we get to this … austerity and meanness of spirit, as typified by the grim expressions sported by German Finance Minister Wolfgang Schäuble in talks with Greece? Continue reading »

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Jul 17

Greek Banks Will Not Re-Open Monday Even As Loan To Repay ECB Approved (ZeroHedge, July 17, 2015):

The timing could not be worse from a visual perspective but within minutes of the Eurogroup confirming that they approved the €7.16 billion bridge loan (which will merely be recycled back to The ECB to ensure the appearance of normalcy continues), local reports note that the Greek finance ministry says banks will not re-open on Monday (as promised).

The elites get their money… Continue reading »

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Jul 17

FYI.

More smoke and mirrors …


Ex-IMF Chief: Germany Should Leave The Euro, Not Greece (ZeroHedge, July 17, 2015)

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Jul 17

Germany Approves Third Greek Bailout By Wide Margin Despite Surge In “Nein” Votes (ZeroHedge, July 17, 2015):

Following Wednesday’s Greek vote approving the draconian terms of the Third Greek bailout, the next biggest hurdle for the implementation of another round of Greek aid was Germany’s parliamentary vote whether to endorse the terms cobbled together over last weekend. Moments ago it did just that in a vote which had been widely expected to pass without complications, when 439 members of the lower house of parliament voted in favor Berlin to starting negotiations on a third bailout program for Greece, 119 voted against and 40 abstained. A total of 598 votes were cast.

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Jul 16

Grèce-carte

Prime Minister Tsipras’ Bailout Reform Package: An Act of Treason against the Greek People (Global Research, July 11, 2015)

After having launched a Referendum to refute and refuse the debt bailout agreement put together by the Troika, Prime Minister Tsipras together with his newly instated Finance Minister, comes up four days latter with an austerity package broadly similar to the one which was turned down by the Greek government in June.

This about-turn had been carefully engineered. The Greek people were misled and deceived. The Referendum was an outright  ”ritual of democracy”. 

Tsipras had made a deal with the creditors. He was in favor of accepting the demands of the creditors all along.

Tsipras led the “NO” campaign while having already decided that in the wake of the Referendum, he would say YES to the creditors and cave in to their demands. This is tantamount to an Act of Treason.

There was no attempt by the Tsipras government in the immediate wake of the Referendum to renegotiate  or extend the deadline on behalf of the Greek people in response to the NO Vote. On Monday morning, the day following the Referendum, Yanis Varoufakis who had led the negotiations with the Troika resigned as Finance minister. Did he wilfully resign or was he “dismissed” to facilitate an agreement with the Troika?

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Jul 16

And now the Greek people will experience what real pain is …


July 5: Greek Independence Day; July 15: Greek In Dependence Day (ZeroHedge, July 15, 2015):

The Greek parliament just voted, in a 229 for and 64 against landslide, to implement the austerity Europe demands to grant Greece the funds for Bailout #3 so that Greece can then repay European creditors (as opposed to facing up to the pain imminently and suffering through a Grexit) implicitly giving up their sovereignty and sending their 61% “Oxi” voting citizenry into what will inevitably be an even deeper economic depression.

  • *GREEK GOVERNMENT HAS VOTES TO APPROVE BAILOUT BILL, TALLY SHOWS

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20150715_greeec3

As Bloomberg reports, Continue reading »

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