“Are You Totally Stupid”: Varoufakis Reveals Outburst Against Tsipras

“Are You Totally Stupid”: Varoufakis Reveals Outburst Against Tsipras :

Remember the Summer of 2015 Greek tragicomedy, when Athens bluffed, then double bluffed it was going to exit the Eurozone only to realize all its deposits are held hostage by the ECB, resulting in “pro-austerity” PM Alexis Tsipras becoming a vassal of Brussels, and firing his firebrand finance minister Yanis Varoufakis who demanded Greece hold until the bitter end?

Well, it now appears that the bad blood between the two is still there because as The Greek Reporter writes this morning, Yanis Varoufakis revealed he accused Prime Minister Alexis Tsipras of being “totally stupid” in accepting a demand by Greece’s creditors for big primary surpluses.

During an interview with Greece’s Parapolitika radio, Varoufakis said when he learned that Tsipras in 2015 accepted, without consulting him, a primary surplus target of 3.5% he confronted the premier:

“I told him: ‘Are you totally stupid? What have they given you in return?’ And he replied: ‘Oh, maybe I was stupid. I will retract from the promise’.” Amusingly, Varoufakis actually said he used a stronger word than “stupid”.

Read more“Are You Totally Stupid”: Varoufakis Reveals Outburst Against Tsipras

Despite Depression, Greece Forced To Hike VAT, Add New Taxes

Despite Depression, Greece Forced To Hike VAT, Add New Taxes:

Greece remains in an economic depression interrupted by a few quarters of anemic growth.

Hiking taxes in a depression is one of the stupidest things one can do, but Greece is set for another vote to do just that.

Prime minister Alexis Tsipras is once again prepared to kiss German Chancellor Angela Merkel’s behind, and his party will likely go along for the ride.

The wildcard IMF has yet to chime in on the economic stupidity of this hike.

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Greek Prime Minister Sends Angry Letter To Christine Lagarde Over IMF Leak

Greek Prime Minister Sends Angry Letter To Christine Lagarde Over IMF Leak:

Today’s Wikileaks disclosure, in which two IMF officials hinted that the IMF may use a “credit event as a means to pressurize(sic) Greece” as it has been subsequently put by Greek officials, has elicited another round of widespread anger in Athens and could jeopardize the upcoming Greek debt negotiations.

The anger has been made more acute because Greece previously accused Poul Thomsen, one of the IMF staffers caught on the leak, of effectively sabotaging talks in the past when the IMF refused to compromise on Greek pension cuts after the government proposed alternatives with an equivalent fiscal impact.

As such, hoping to ride on the latest wave of populist anger, it was only a matter of time before the country’s prime minister Alexis Tsipras officially responded to the IMF.

Read moreGreek Prime Minister Sends Angry Letter To Christine Lagarde Over IMF Leak

Cyprus – Israel – Greece Trilateral Summit Declaration

Netanyahu-Tsipras

Cyprus – Israel – Greece Trilateral Summit Declaration:

We, Nikos Anastasiades, President of the Republic of Cyprus, Benjamin Netanyahu, Prime Minister of the State of Israel, and Alexis Tsipras, Prime Minister of the Hellenic Republic, having met in Nicosia today, 28th January 2016, have agreed to strengthen the cooperation between our three countries in order to promote a trilateral partnership in different fields of common interest and to work together towards promoting peace, stability, security and prosperity in the Mediterranean and the wider region.

In light of the underlying challenges and opportunities, and given the fluid and unstable situation in the region, our three countries, which share common democratic values, principles, and interests, have, to this end, agreed on the importance for closer cooperation and a coordinated set of policies.

Read moreCyprus – Israel – Greece Trilateral Summit Declaration

Greeks Watch Passively as Government Drains Them Dry

Greeks Watch Passively as Government Drains Them Dry.jpg

Greeks Watch Passively as Government Drains Them Dry:

If one had asked any Greek exactly one year ago, that the full of promises SYRIZA party would come to power to finish off the crisis-stricken Greek economy and drain his personal wealth, with his blessing, he would have called them a lunatic.

Yet, a year later, the SYRIZA-ANEL coalition has legislated measures and reforms that would have made even the most strict neoliberal wince. Pension cuts, tax hikes, taxation of nonexistent incomes, monitoring personal wealth, capital controls, privatizing state properties, home auctions, raising retirement age, are some of the measures and reforms that the self-proclaimed leftist ruling party is forcing on the shoulders of Greek people.

Read moreGreeks Watch Passively as Government Drains Them Dry

Greece Faces Snap Elections As Lawmakers Abandon Tsipras

Greece Faces Snap Elections As Lawmakers Abandon Tsipras (ZeroHedge, Aug 18, 2015):

Greek PM Alexis Tsipras has lost the support he needs to win a confidence vote, setting up the possibility of snap elections. Meanwhile, German Chancellor Angela Merkel’s bulletproof reputation will be tested on Wednesday when the Bundestag will be forced to vote on the Greek bailout without an assurance that the IMF will ultimately shoulder a portion of the burden.

Greece May Miss ECB Payment As Germany Says Bailout Timeline Is Unrealistic

–  Greece May Miss ECB Payment As Germany Says Bailout Timeline Is Unrealistic (ZeroHedge, Aug 1, 2015):

Greek PM Alexis Tsipras won a hard fought victory over party rivals on Thursday when Syriza’s central committee voted to postpone an emergency congress until after formal discussions on the country’s third bailout program are complete.

Syriza has been grappling with bitter infighting since more than 30 MPs in Tsipras’ parliamentary coalition defected during a vote on the first set of bailout prior actions, forcing the PM to rely on opposition votes to clear the way for formal discussions with creditors. The party dispute was exacerbated by reports that ex-Energy Minister and incorrigible Grexit proponent Panayiotis Lafazanis (along with several Left Platform co-conspirators) planned to storm the Greek mint and seize the country’s currency reserves. 

Read moreGreece May Miss ECB Payment As Germany Says Bailout Timeline Is Unrealistic

An Exasperated Tsipras Calls For Syriza Referendum On Bailout Cancellation

Tsipras

An Exasperated Tsipras Calls For Syriza Referendum On Bailout Cancellation (ZeroHedge, July 30, 2015):

Anyone who thought Greece’s third bailout program was a done deal or that, at the very least, the market would get a few months of respite before having to grapple with daily Grexit headlines again, got a rude awakening late last week when reports of a secret plot (hatched by ex-Energy Minister Panayiotis Lafazanis along with several Left Platform co-conspirators) to storm the Greek mint and seize the country’s currency reserves underscored the deep divisions within Syriza and betrayed the extent to which passing a third set of prior actions and sealing the deal on an ESM program would prove to be anything but simple.

Just days after Lafazanis’ plan leaked last week, Kathimerini claimed it had transcripts from a conference call between former Finance Minister Yanis Varoufakis and international hedge fund managers during which Varoufakis described yet another secret ploy to return the country to the drachma by way of establishing a parallel payments system set up using surreptitiously obtained tax filer ID numbers. Later, the full audio recording was released.

Read moreAn Exasperated Tsipras Calls For Syriza Referendum On Bailout Cancellation

Greek Economy Faces Total Collapse As Doctors Flee, Retail Sales Plunge 70%

greece

Greek Economy Faces Total Collapse As Doctors Flee, Retail Sales Plunge 70%  (ZeroHedge, July 28, 2015):

Back in May we outlined the cost to the Greek economy of each day without a deal between Athens and creditors.

At the time, a report from the Hellenic Confederation of Commerce and Enterprises showed that 60 businesses closed and 613 jobs were lost for each business day that the crisis persisted without a resolution.

Since then, things have deteriorated further and indeed, with the imposition of capital controls, businesses found that supplier credit was difficult to come by, leading to the very real possibility that Greece would soon face a shortage of imported goods, something many Greeks clearly anticipated in the wake of the referendum call as evidenced by the lines at gas stations and empty shelves at grocery stores.

As a reminder, here’s what WSJ said earlier this month

Read moreGreek Economy Faces Total Collapse As Doctors Flee, Retail Sales Plunge 70%

Reports Of Secret Drachma Plots Leave Tsipras Facing Fresh Crisis

Tsipras-hand-sign

Reports Of Secret Drachma Plots Leave Tsipras Facing Fresh Crisis (ZeroHedge, July 26, 2015):

On Friday, we brought you the shocking story of the rebellion that never was in Greece.

According to FT, Former Greek Energy Minister and maverick among mavericks Panayotis Lafazanis convened a “secret” meeting at the Oscar Hotel in Athens on July 14 at which he attempted to convince Syriza hardliners (including, in FT’s words, “supporters of the late Venezuelan president Hugo Chávez [and some] old-fashioned communists”) to storm the Greek mint, seize the country’s currency reserves, and, if necessary, arrest central bank governor Yannis Stournaras.

Lafazanis

(Lafazanis)

Obviously, the plan was never implemented, but if the story is even partly true it betrays the degree to which Greece teetered on the edge of social upheaval and even civil war in the days that followed PM Alexis Tsipras’ decision to concede to creditors’ demands and abandon not only Syriza’s election mandate but the very referendum outcome he had himself campaigned for just days prior. 

Read moreReports Of Secret Drachma Plots Leave Tsipras Facing Fresh Crisis