The Reason Why The Eurogroup Rushed To Approve The Greek Reform Package?

Update:

About The Authorship Of The Infamous “Greek Reforms” Memo

You can’t make this stuff up!


The Reason Why The Eurogroup Rushed To Approve The Greek Reform Package? (ZeroHedge, Feb 24, 2015):

As we noted earlier today, there was some confusion over the plight of the Greek reform proposal document, which initially was said to have been delayed until today, only for the Troika, pardon, Institutions, to flip around and say they had actually received it before midnight on Monday. How could the two be possible? Courtesy of Yannis Koutsomitis, who had the simple but profound idea of looking at the properties tab in the leaked Varoufakis draft of the agreed to proposals, we now know.

As it turns out, the reason why not only the Troika received an agreed to version of the Greek reform proposals “before midnight on Monday”, but rushed these through with a favorable agreement today, is that, drumroll, the European Commission drafted the entire letter!

declan costello letter_1_0

All Yanis Varoufakis had to do was agree to the letter that the Troika had previously written and agreed in advance was agreeable to it, and send it back. The skeptics are encouraged to play around the original pdf “leak” found here.

Read moreThe Reason Why The Eurogroup Rushed To Approve The Greek Reform Package?

50 Shades Of Greece

50 shades of greece

50 Shades of Greece (The Automatic Earth, Feb 22, 2015):

When it comes to the ongoing Greek question, I see a lot of people eagerly jump to conclusions, after the ‘debt deal’, that I don’t think are justified; certainly not yet. The overall conviction in the press seems to be that Syriza has given in on just about all fronts, and Germany and Dijsselbloem are the big winners.

But since that may well be the exact position Syriza wants ‘the other side’ to be in, where they think they have prevailed, one will have to try and think a few steps ahead before judging the situation. There’s far more grey area here than many pundits seem to assume, easily 50 shades of it.

Read more50 Shades Of Greece

The Assassination of Greece

Petras-Book-image

The Assassination of Greece (Veterans News Now, Feb 21, 2015):

by Dr. James Petras

The Greek government is currently locked in a life and death struggle with the elite which dominate the banks and political decision-making centers of the European Union.What are at stake are the livelihoods of 11 million Greek workers, employees and small business people and the viability of the European Union.  If the ruling Syriza government capitulates to the demands of the EU bankers and agrees to continue the austerity programs, Greece will be condemned to decades of regression, destitution and colonial rule.  If Greece decides to resist, and is forced to exit the EU, it will need to repudiate its 270 billion Euro foreign debts, sending the international financial markets crashing and causing the EU to collapse.

Read moreThe Assassination of Greece

‘Greek Democracy Can’t Be Threatened’ Defiant Tsipras Warns ‘Won’t Step Back From Promises’

Greece-Alexis-Tsipras

“Greek Democracy Can’t Be Threatened” Defiant Tsipras Warns “Won’t Step Back From Promises” (ZeroHedge, Feb 17, 2015):

The rhetoric from both sides in Europe is hotting up but we suggest Tsipras’ comments seem far more personal and existential than the Eurogroup’s beligerence for now:

  • *TSIPRAS: GREEK DEMOCRACY CAN’T BE THREATENED
  • *TSIPRAS: GREEK GOVT NOT IN A HURRY, WON’T COMPROMISE
  • *TSIPRAS: GREECE WON’T TAKE A STEP BACK FROM PROMISES TO PEOPLE

With a “strong mandate” to save the country, Tsipras adds that he wants “a solution, not rupture.”

Additionally, he noted:

Read more‘Greek Democracy Can’t Be Threatened’ Defiant Tsipras Warns ‘Won’t Step Back From Promises’

Varoufakis Blasts ECB ‘Has Lost Control Of Monetary Policy’ As Germany Tells Greece: ‘There Is No Way Out’

Yanis Varoufakis Sums Up Europe In One Sentence

–  Varoufakis Blasts ECB “Has Lost Control Of Monetary Policy” As Germany Tells Greece: “There Is No Way Out” (ZeroHedge, Feb 9, 2015):

“There is no way out” for Greece from its treaty obligations warns German lawmaker Michael Fuchs (Angela Merkel’s deputy caucus chairman) telling Bloomberg TV that conditions set for Greece by The Troika (EU, ECB, IMF) for bailout funds “have to be fulfilled…. That’s it, very simple.” The Greeks remain adamant that they will not ask for an extension to the bailout mechanism with both Tsipras and Varoufakis confirming that a bridge agreement is required and the latter adding “the ECB has lost control of monetary policy,” demanding the Troika structure come to an end. Then German Finance Minister Wolfgang Schaeuble exclaimed at the G-20 meeting that “Greece either has to find a way to get bridge financing, or, if they want to do it with us, they need a program,” seeming to push the door open to possible Russian financial aid for Greece as Europe’s pivot to Putin appears to be rising.

Read moreVaroufakis Blasts ECB ‘Has Lost Control Of Monetary Policy’ As Germany Tells Greece: ‘There Is No Way Out’

Europe, US Risk Off After Greece Rejects European Ultimatum, Ukraine Peace Talks Falter

No 741831

Europe, US Risk Off After Greece Rejects European Ultimatum, Ukraine Peace Talks Falter (ZeroHedge, Feb 9, 2015):

In the absence of any notable developments overnight, the market remains focused on the rapidly moving situation in Greece, which as detailed over the weekend, responded to Europe’s Friday ultimatum very vocally and belligerently, crushing any speculation that Syriza would back down or compromise, and with just days left until the emergency Eurogroup meeting in three days, whispers that a Grexit is imminent grow louder. The only outstanding item is what happens to the EUR and to risk assets: do they rise when the Eurozone kicks out its weakest member, or will they tumble as UBS suggested this morning when it said that “the escalation of tensions between the Greek government and its creditors is so far being shrugged off by investors, an attitude which is overly simplistic and ignores the risk of market dislocations” while Morgan Stanley adds that a Grexit would likely lead to the EURUSD sliding near its all time lows of about 0.90.

Read moreEurope, US Risk Off After Greece Rejects European Ultimatum, Ukraine Peace Talks Falter

Putin Invites Tsipras To Visit Russia

Putin chess

Putin Invites Tsipras To Visit Russia (ZeroHedge, Feb 5, 2015):

While Greek finance minister Yanis Varoufakis’ comments that “we will never ask for financial assistance in Moscow,” which notably does not deny acceptance of aid if offered, and Greek Minister of Energy Panagiotis Lafazanis adding that Athens opposes the embargo imposed on Moscow, “we have no disagreement with Russia and the Russian people,” it is perhaps not surprising that, as Vedemosti reports, Russian President Vladimir Putin spoke by phone with the new Prime Minister of Greece Alexis Tsipras, congratulated him on taking office, and invited him to Russia.

Read morePutin Invites Tsipras To Visit Russia

Greece Refuses To Back Down: ‘Government Will Do As Promised’ Alexis Tsipras Says

Greece-Alexis-Tsipras

Greece Refuses To Back Down: “Government Will Do As Promised” Tsipras Says (ZeroHedge, Feb 5, 2015):

With an increasingly vitriolic tone, the new Greek government has come out swinging today with leader Alexis Tsipras making it clear that he will implement the election pledges the people of Greece voted for:

  • A NEW GREEK GOVT WILL BARGAIN TOUGH, AND PUT A FINAL END TO THE TROIKA AND ITS POLICIES
  • WE MANAGED TO DECONSTRUCT THE EUROPEAN STATUS QUO THAT WANTS MORE AUSTERITY AND LESS DEMOCRACY

It took one week, Tsipras chides, to get European leaders to talk about the real problems and Greece will negotiate hard to “put an end to Troika.”

Read moreGreece Refuses To Back Down: ‘Government Will Do As Promised’ Alexis Tsipras Says

UK Chancellor Calls Greece ‘Greatest Risk To Global Economy’ – Greek PM Alexis Tsipras Does Not Rule Out Russian Aid

Tsipras Does Not Rule Out Russian Aid As UK Chancellor Calls Greece “Greatest Risk To Global Economy” (ZeroHedge, Feb 2, 2015):

“It is clear that the stand-off between Greece and the eurozone is the greatest risk to the global economy,” warns UK Chancellor George Osborne adding that he hopes Greece’s new finance minister “acts responsibly,” as Varoufakis toured Europe to discuss Greece’s ‘demands’. Mainstream media’s attention, however, is not focused on this warning (remember, Greece is small and contained is the meme to pay attention to), but instead proclaimed Greece’s pivot to Russia over when in fact, Tsipras words did anything but ‘rule out’ Russian aid as he said – specifically – “we are in substantial negotiations with our partners in Europe and those that have lent to us,” adding that with regards Russia, “right now, there are no other thoughts on the table.” Hardly the definitive “ruling out” that US media spins.

Read moreUK Chancellor Calls Greece ‘Greatest Risk To Global Economy’ – Greek PM Alexis Tsipras Does Not Rule Out Russian Aid

George Soros “Trojan Horse” Inside The New Greek Government?

Georg_Soros

George Soros “Trojan Horse” Inside The New Greek Government? – Wayne Madsen (The News Doctors, Jan 29, 2015):

As Greece celebrates the inauguration of its anti-austerity government, the euphoria should be tempered with a bit of realism. Although new Prime Minister Alexis Tsipras, who named his son “Ernesto” after Cuban revolutionary Ernesto “Ché” Guevara, and the vast majority of his new Coalition of the Radical Left (SYRIZA) government have good left-wing and pro-labor credentials, the same cannot be necessarily said of the man Tsipras chose to be Greece’s new finance minister. Yanis Varoufakisis a citizen of Australia who was educated in Britain and worked as a professor at the University of Texas. Europe has witnessed such dual nationals with conflicting loyalties take power in countries in Eastern Europe, most notably in Ukraine, where American Natalie Jaresko became finance minister in order to deliver International MonetaryFund (IMF) and European Central Bank (ECB) austerity “poison pills” to Ukraine.

Read moreGeorge Soros “Trojan Horse” Inside The New Greek Government?