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Greek Banks Will Not Re-Open Monday Even As Loan To Repay ECB Approved
Greek Banks Will Not Re-Open Monday Even As Loan To Repay ECB Approved 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 […]
Banker Occupied Greece: Requiem for a Failed State
Banker Occupied Greece: Requiem for a Failed State It’s all over but the obituary. Rubber-stamp Greek parliamentarians overwhelming approved transforming the nation into a banker run colony – by a 229 – 64 vote. Six lawmakers abstained. Coalition partner Independent Greeks leader Panos Kammenos and likeminded party members voted “yes” after rhetorically rejecting Troika terms. […]
The Bankruptcy Of The Planet Accelerates – 24 Nations Are Currently Facing A Debt Crisis
The Bankruptcy Of The Planet Accelerates – 24 Nations Are Currently Facing A Debt Crisis There has been so much attention on Greece in recent weeks, but the truth is that Greece represents only a very tiny fraction of an unprecedented global debt bomb which threatens to explode at any moment. As you are about […]
The Constitution of the EU’s Dictatorship
The Constitution of the EU’s Dictatorship It’s here: http://www.esm.europa.eu/pdf/ESM Treaty consolidated 13-03-2014.pdf That’s the treaty establishing (which was originally done in 2012) the ultimate lending-fund for what the EU now officially considers to be a permanent economic crisis in Europe, of member-nations that are experiencing “severe financing problems,” and that are therefore continually ripe for […]
Greece May Not Get Bailout, Grexit “The Better Way”, Schaeuble Says
Greece May Not Get Bailout, Grexit “The Better Way”, Schaeuble Says Last Saturday, the EU finance ministers who gathered in Brussels in a last ditch effort to keep Greece in the eurozone were forced to confront a rather inconvenient truth. A bailout for Athens would likely cost nearly €80 billion, far more than the €53 […]
Riots in Athens: EU’s Impending Collapse?
Riots in Athens: EU’s Impending Collapse? People move events. The Greek people are trying to shape their own history. They aren’t there yet—even the Left hasn’t quite joined them. But a coalescence of forces is on the horizon: either Syriza radicalizes or it will be left behind. Capitalism by its very harshness is creating its […]
Greece: Sound and Fury Signifying Much
Greece: Sound and Fury Signifying Much All of Europe, and insouciant Americans and Canadians as well, are put on notice by Syriza’s surrender to the agents of the One Percent. The message from the collapse of Syriza is that the social welfare system throughout the West will be dismantled. The Greek prime minister Alexis Tsipras […]
Why the Cash Economy in Greece May Be Ending
Why the Cash Economy in Greece May Be Ending Many believe we have a teetering world economy, even without Greece as an indicator. Now Greece is looming ever larger as a critical if unknown actor. It is mostly considered a bad one, for the entire European, and even the worldwide, financial system and economy. The […]
Greek Parliament Votes In Favor of “Prior Actions” – Protests Erupt in Athens (Live Stream)
Greek Parliament Votes In Favor of “Prior Actions” – Protests Erupt in Athens (Live Stream) Euro-Group Deal Approved by Greek Parliament The result of the parliamentary vote in Athens just came through, and was remarkably closely aligned with recent surveys of Greek voters. Funny enough, these surveys revealed approximately 70% approval of the dealoffered by the […]
UK Furious At Proposed €7 Billion Greek Ponzi-Perpetuating Bridge Loan
UK Furious At Proposed €7 Billion Greek Ponzi-Perpetuating Bridge Loan The two most important stories out of Greece on Tuesday were: 1) the IMF’s leaked report on Greek debt sustainability, and 2) the race to secure between €7 and €12 billion in bridge financing to hold Greece over until the ESM gets off the ground. […]
The ‘Greek Debt Deal’ Is Already Starting To Fall Apart
The ‘Greek Debt Deal’ Is Already Starting To Fall Apart The “deal that was designed to fail” has already begun to unravel. The IMF, which was expected to provide a big chunk of the financing, has indicated that it may walk away from the deal unless Greece is granted extensive debt relief. This is something […]
Italy – Non-Performing Loans Hit a New Record High
Italy – Non-Performing Loans Hit a New Record High While all Eyes are on Greece, Italy’s Banks are Drowning in Bad Debt The real danger to the euro area probably doesn’t emanate from Greece, but from two of its heavyweights, namely France and Italy. A small note in the European press reminds us that all is not […]
Tsipras Stunner: Creditors Said “There Is No Point In Holding Elections” In Bailed Out Countries
Tsipras Stunner: Creditors Said “There Is No Point In Holding Elections” In Bailed Out Countries While Germany’s finmin Schauble is about to burst at few capillaries after reading the latest provocation from Tsipras in which he said, according to Reuters, that: GREEK PM TSIPRAS SAYS I SIGNED I DEAL I DO NOT BELIEVE IN BUT […]
IMF Declares War On Germany: In “Secret” Report Lagarde Says Greece Will Need Massive Debt Relief
IMF Declares War On Germany: In “Secret” Report Lagarde Says Greece Will Need Massive Debt Relief A divide between the IMF and Europe (read: Germany), regarding writedowns on Greece’s debt to the EU has been brewing for quite some time and recently returned to the international spotlight when, a few months back, the Fund indicated […]
When Money Dies
When Money Dies “When Money Dies” is the title of a 1975 book by Adam Fergusson, in which he describes the downfall of the Reichsmark in Weimar Germany. A fascinating look at that period of history, one can glean quite a few useful pieces of advice on how to survive a currency crisis. But “when […]
