Tag Archives: Greece

Greece rejects EU bailout offer as ‘absurd’…

“Talks between Greece and European finance ministers have collapsed early after Greece rejected the EU’s bailout offer as ‘absurd’ and ‘unacceptable’.”



Greece’s Finance Minister Yanis Varoufakis has said he is prepared for tough negotiations…

‘Greek ‘revolution’ woke up Europeans, spreads like wildfire’…

«Leonidas Chrysanthopoulos: […] other countries are suffering just as bad as we are particularly Portugal and Spain. So once we started this, let’s put it ‘revolution,’ and we are waking up the European people, it caught like wildfire. So this is a good solid support of the European people and I hope that this message is getting across to the leaders of the EU who have been far away from the people who they are supposed to serve all these years.»



photo: Reuters / Alkis Konstantinidis

RT: Do you see a growing disconnect between Brussels-led austerity policies, and public opinion in EU nations?

LC:…It is their interest that is at stake, because if they continue this intransigence and this hard-line, then Greece can also play hard-line and we would just refuse to cooperate. And this of course might lead to a possible departure of Greece from the eurozone with all the negative consequences that it will have for Europe more than it would have for Greece. For Greece it will have in the long-term beneficial results.

RT: Are you optimistic that a compromise can be reached at Monday’s meeting?

LC: I don’t think there are many chances for a compromise. What I presume might come out of the meeting is a sort of a text that nobody understands that will satisfy the EU, but might have no practical results because the Greek government is no way going back on what it promised to the Greek people. And I read in today’s newspapers for example that most of the measures that have been taken by the previous regime are now being changed. For example, a draft law is going to [be passed] in the Parliament next week for the 13th [month-Ed.] salary for the pensioners. Also there is going to be 12,000 euro [annual salary-Ed.]for tax that will be included as a tax limit. And also the extreme tax that was put on property is going to be abolished also.

RT: If Greece does not receive the bridge loan it is asking for – what are the alternatives for the government?

LC: Essentially what will happen…is there will be a denunciation on the basis of international law of the loan agreement. And if you denounce the loan agreement, not unilaterally, on the basis of international law, [the Vienna Convention on the law of treaties], which in the articles 48 to 51 4: 50 anticipated cases where international agreement is null and void. You do that, you keep the €26 billion that they are asking and if you continue your recovery that way plus you nationalize the Bank of Greece then also you have funds. So this will get us through the year, this is one way of financing ourselves during that interim period if it goes as bad as that.

Political not financial consequences scare EU: Pro-government protesters in Athens’ Syntagma Square ahead of the eurozone finance ministers’ meeting in Brussels demanded that no more concessions are made, noted Aris Chatzistefanou, a journalist and filmmaker.

“The same message that PM Mr. Tsipras had Friday night when there was an emergency Cabinet meeting with many left-wing ministers saying that we have already made enough concessions in these negotiations and we should keep to our positions otherwise it will be seen as a total betrayal of what we said to the electorate before the election. When they talk about concessions, it’s mainly three things: that they don’t talk any more about cancelling the debt which was one of the promises that this party made to the electorate. The second is they have agreed to accept 70 percent of the memorandum that is the austerity package imposed in Greece by the IMF and ECB and the European Commission. And the third is that we should have a primary surplus. That practically means a kind of continuation of austerity…”

“…This year only we have to repay something around €22 billion and almost €6-7 billion of this amount is the interest that we have to repay. So by making at least a memorandum in repaying the debt there is enough money to keep the economy staying alive for a few more months until the solution is found.Don’t forget that the same policy was applied even in Russia, in Argentina, Iceland, Ecuador and there was always a positive outcome for the economy. On the other hand, don’t forget that apart from the Western financial centers that are threatening Greece with stopping the liquidity of the banking sector there are some other financial centers that can be trusted,” Chatzistefanou said.

The main concern for Berlin now, he observed, is the political consequences of the Greek bailout talks in Brussels.

“There might be a domino effect if people in other European countries realize that this austerity imposed by Brussels and Berlin is not the only way out of the crisis… I think this is a big problem for Berlin at the moment. They are not afraid of the financial consequences. Don’t forget that Greece is a very small economy, 2 percent of the eurozone. They are afraid of the political consequences,” Chatzistefanou told RT.»

“​Payback time? Greek PM seeks reparations over Nazi occupation & war-time loan…”

Well, well, well…
I remember sayin’ it a couple of days ago, that what seemed to be a Russian stunt in the beginning, may turn into an internationally legitimate outcry for a justice Germany hoped to have been brushed under history’s dirty rug…
Please someone help me understand, why would individual nazi war criminals need to be chased and prosecuted for crimes against humanity, while the common denominator of these mass assassins, Germany, is still at large, happily collecting interests on loans given to nations they themselves have left devastated and bankrupt?
«Berlin has vehemently refused to consider the payment of any reparations. “Nearly 70 years after the end of World War II, the question of reparations has lost legitimacy,” a German finance ministry spokesman declared recently.»
Wow, someone really needs to believe themselves to be untouchable Übermensch, above any ethical obligation, moral, civil or any other law, to have the shamelessness to declare such an enormity.
Payback time?
I hope so…



Greek Prime Minister Alexis Tsipras (Reuters / Francois Lenoir)

«Prime Minister Alexis Tsipras, referring to Nazi Germany’s four-year occupation of Greece and a forced war-time loan during World War II that saddled the Greek economy in huge debt, wants Berlin to pay reparations.
Tsipras, leader of the anti-austerity Syriza party, said Athens had a “historical obligation” to claim from Germany billions of euros in reparations for the physical and financial destruction committed during Nazi Germany’s occupation of Greece.
Beyond the historical obligation, he said Greece had “a moral obligation to our people, to history, to all European peoples who fought and gave their blood against Nazism,” he said in a keynote address to parliament on Sunday.
The Greek leader’s comments have resonated far beyond Athens as they place the issue of his country’s recent massive bailout at the behest of international creditors in a whole new light.
After Nazi forces took control of Greece in 1941, the stage was set for one of the bloodiest confrontations of World War II as Greek resistance fighters put up a fierce struggle to end the occupation.They were powerless, however, to prevent the Third Reich from extracting an interest-free 476 million Reichsmarks loan from the Greek central bank, which devastated the Greek economy.
A 2012 report by the Bundestag, Germany’s lower house of parliament, estimated the value of the loan at US$8.25 billion. Greece, however, puts the value of the loan at €11 billion, the To Vima newspaper reported in January, citing confidential financial documents.
Tsipras claims Germany owes Greece around €162 billion ($183 billion) – about half the country’s debt load, which is estimated at over €315 billion.
The figure is said to cover €108 billion for infrastructure damage wrought by the occupying Nazi forces between 1941 and the end of the war, and €54 billion as compensation for the unpaid loan.
Berlin has vehemently refused to consider the payment of any reparations. “Nearly 70 years after the end of World War II, the question of reparations has lost legitimacy,” a German finance ministry spokesman declared recently.
German Vice Chancellor and Economy Minister Sigmar Gabriel also denies any opportunity of making payments to Greece, as the treaty signed in 1990 did not outline any additional payments in the future.
“The probability is zero,” he said.
However, Greece does not agree and says the payments must be discussed with united Germany – not with the nation as it was in 1990.
On 25 January 2015, Tsipras led Syriza to a stunning victory, attracting 36 percent of the vote and 149 out of the 300 seats in the parliament. Now, the energetic 40-year-old prime minister aims to make good on his pledge to eliminate unpopular austerity measures demanded by the global financial lenders in return for massive loan bailouts.
At the same time, the new Greek government said it would not accept the latest tranche of the IMF bailout valued at €7 billion.
On May 1, 2010, former Prime Minister George Papandreou announced a fourth round of austerity measures, which included steeper public sector pay cuts, pension reductions and new taxes on corporate profits. These measures prompted a nationwide strike on 5 May, which led to the death of three activists as the demonstrations turned violent.
Understanding that austerity measures cannot resolve Greece’s problems, Syriza hopes to refill government coffers by issuing treasury bills.
“We only have one commitment: to serve the interests of our people, the good of society,” Tsipras said, while emphasizing the “irreversible decision” of his government to carry out its campaign promises.»

“The Guardian: Bank of England governor attacks eurozone austerity…”

Hallo, Fräulein Merkel and Brusselocrats, are you listening?!

The Guardian: Bank of England governor attacks eurozone austerity. http://google.com/newsstand/s/CBIwqumLtCA

Mark Carney says eurozone is caught in a debt trap and should ease hardline budget cuts just days after the Syriza election directly challenged policy.


Photograph: Andy Rain/EPA

Carney’s remarks come just three days after the election of the Syriza-led government in Greece presented a direct challenge to the austerity policies championed in the eurozone by Germany’s Angela Merkel.”