Europe needs to learn this lesson: ECB/IMF/EU are Vultures

[brocktonblockbust]

Greece is not going to budge. Nor should they. Tsipras is a real man, a virile, testosterone-filled man, and so is Yanis Varoufakis, and they will not bow down to the Troika. Nor should they. Varoufakis has big balls, and all Euro-gals want his children. The ghosts of Anaxagoras and Parmenides.

As an American I can say that the EU must give in to the Greeks' demands: write down the principal, for starters, and forgive at the very least 50% of the loans and waive any repayments.

But the Greeks do not give a rat's ass about any deadlines. Varoufakis only considers 30% of the loans to have been toxic. He has given some ground and shown some flexibility. The measures forced on Hellas have been unduly harsh, that goes without saying. It doesn't take a Masters Degree in International Finance from the #1 international graduate business school in the world, Thunderbird - The American School of Global Management (my alma mater) to understand that the agreement with its creditors requires Greece to double its primary budget surplus (meaning a surplus before interest payments) to 3 percent this year and increase it to 4.5 percent next year.

Ain't gonna happen, Ms. Merkel. The damage to the Greek economy by the financial crisis rivals that done to the German economy by the loss of World War I.

[Gandalf]

Greece should swing towards Asia if the Europeans want to carry on with the bully boy bankster squid approach.

[brocktonblockbust]

Greece should swing towards Asia if the Europeans want to carry on with the bully boy bankster squid approach.

Oh absolutely. Greeks don't drink tea with their pinkies turned up. Its Greece "cutting the bankster-vultures loose" not the "oh we are cutting you loose" spin-doctor statements from the troika scum.

[Gandalf]

Greece is more important to the EU than the other way round. Greece will struggle terribly, but they will find their feet and give new credence to the Bric bank. In leaving there is a strong possibility of an EU domino effect and that would be good too as individual nations will make up their own mind about Russia and then hopefully Europe and Russia can normalise things. With half the EU gone, then the Ukraine is left as nothing more than an obvious attempt to get NATO on Russia's border and with more countries backing Russia, that won't happen. Then you probably have an EU implosion and the NWO back to square one. Few will cry.

[brocktonblockbust]

Greece is more important to the EU than the other way round. Greece will struggle terribly, but they will find their feet and give new credence to the Bric bank. In leaving there is a strong possibility of an EU domino effect and that would be good too as individual nations will make up their own mind about Russia and then hopefully Europe and Russia can normalise things. With half the EU gone, then the Ukraine is left as nothing more than an obvious attempt to get NATO on Russia's border and with more countries backing Russia, that won't happen. Then you probably have an EU implosion and the NWO back to square one. Few will cry.

I, as an American with a Masters degree, know for a fact that the EU is going to implode, yes indeed Miles.

[Kirkland Laing]

Minutes of an IMF meeting were leaked to the Wall Street Journal last year. They show that when Greece was forced into the 2010 bailout it was to protect the Euro from collapse and to bail out eurobanks who had all lent huge sums to Greece.

IMF Document Excerpts: Disagreements Revealed - Real Time Economics - WSJ

Everybody knew at the time that Greece needed debt restructuring and that they'd never be able to pay the debt they were being loaded up with. And it's amazing to read that privately governments all agree that austerity damages economies while publicly they claim the opposite. Austerity is obviously just a tool to slash the welfare state and worker protections and benefits, to turn Europe into Asia as far as big business is concerned. Actually it's not amazing at all, is it.

Probably what happens now :

They come up with some sort of last minute compromise extension agreement to kick the can down the road for another two/four/six months until they can negotiate something better. More when I have the time.

[Gandalf]

Greece is more important to the EU than the other way round. Greece will struggle terribly, but they will find their feet and give new credence to the Bric bank. In leaving there is a strong possibility of an EU domino effect and that would be good too as individual nations will make up their own mind about Russia and then hopefully Europe and Russia can normalise things. With half the EU gone, then the Ukraine is left as nothing more than an obvious attempt to get NATO on Russia's border and with more countries backing Russia, that won't happen. Then you probably have an EU implosion and the NWO back to square one. Few will cry.

I, as an American with a Masters degree, know for a fact that the EU is going to implode, yes indeed Miles.

I think so too, but think of it in a positive way. The EU is a bad concept and the nation state should never have been corroded as it has. You have to look at the local environment to run a system in the interests of the local population and the EU doesn't have that capacity. The best thing is to let Greece go and just face up to the fact that others want out too. The EU elite won't let it go without trying to screw over more people first, but whatever. Russia had to change, now it's Europe's turn and hopefully too other heavily indebted nations. You can either pay off bankers forever, or you can start to work in the interests of your people. These elite seem to be in the wrong job and need to be removed and the system changed.