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Tag Archives: greece
Troika Exploits Greek Bank Run As Varoufakis Slams “Pernicious” Banking Sector “Leaks”
Troika Exploits Greek Bank Run As Varoufakis Slams “Pernicious” Banking Sector “Leaks” As expected, no progress was made between Greek FinMin Yanis Varoufakis and EU finance ministers at Thursday’s Eurogroup meeting in Luxembourg. Varoufakiswarned his counterparts that Europe was very close to “accepting” a Greek “accident”, something the FinMin said EU officials have a “moral duty” […]
“Calm Reigns” Everywhere As Greece Inches Closer To Default, China Crashes
“Calm Reigns” Everywhere As Greece Inches Closer To Default, China Crashes In what is perhaps the most glaring instance of central bank intervention yet,Reuters today captured the market mood as follows: “Calm ruled Europe’s stock and currency markets on Friday as Greece inched closer to a default later this month….the euro was down just 0.3 percent […]
LEAKED (Denied then Confirmed): ECB Not Sure If Greek Banks Can Open Monday
LEAKED (Denied then Confirmed): ECB Not Sure If Greek Banks Can Open Monday There seems to be a growing willingness in the Eurozone to get this over with, to let Greece default and go from there – with all the options that this might entail. But even if a last-minute bailout agreement materializes, one thing […]
Inciting Bank Runs as a Negotiating Tactic
Inciting Bank Runs as a Negotiating Tactic The troika of Greek creditors has gone into full-frontal morals-be-damned attack mode, handpicking arms from a weapons arsenal we haven’t seen used before, and that we never should have seen in an environment that insists – and prides – on presenting itself as a union, both in name […]
An Affirming Flame
An Affirming Flame According to an assortment of recent news stories, this Thursday, June 18, is the make-or-break date by which a compromise has to be reached between Greece and the EU if a Greek default, with the ensuing risk of a potential Greek exit from the Eurozone, is to be avoided. If that’s more […]
The Logic of Interventionism, or How to Wake up in a Prison
The Logic of Interventionism, or How to Wake up in a Prison Archaic Financial Freedom The mainstream press is still full of articles about the alleged evils of cash, which we regard as a typical “trial balloon” launched by the powers-that-be. The way this works is that they get a repressive measure they indent to […]
Greek Parliamentary Debt Committee Declares All Debt Illegal
Greek Parliamentary Debt Committee Declares All Debt Illegal For a while now, I’ve had a German saying floating around my files, that I didn’t really know what to do with. I know now. The saying is: In der Not ist der Mittelweg der Tod. Which loosely translates as: In emergencies, the middle ground is lethal. […]
The Economic Depression In Greece Deepens As Tsipras Prepares To Deliver ‘The Great No’
The Economic Depression In Greece Deepens As Tsipras Prepares To Deliver ‘The Great No’ As Greece plunges even deeper into economic chaos, Greek Prime Minister Alexis Tsipras says that his government is prepared to respond to the demands of the EU and the IMF with “the great no” and that his party will accept responsibility […]
Bank Of Greece Pleads For Deal, Says “Uncontrollable Crisis”, “Soaring Inflation” Coming
Bank Of Greece Pleads For Deal, Says “Uncontrollable Crisis”, “Soaring Inflation” Coming The situation in Greece has escalated meaningfully since last week. After the IMFeffectively threw in the towel and sent its negotiating team back to Washington on Thursday, EU and Greek officials agreed to meet in Brussels over the weekend in what was billed as […]
Is Telling Lies A Democratic Right?
Is Telling Lies A Democratic Right? While I’m on the Greece topic again today, I can’t help but pointing out some of the changes in tone I’ve noticed in the press recently, shifting towards outright oftentimes vicious if not ridiculous antagonism vs Greece. Remember, there is an agenda, there are pre-cooked narratives galore, and these […]
The Next Great European Financial Crisis Has Begun
The Next Great European Financial Crisis Has Begun The Greek financial system is in the process of totally imploding, and the rest of Europe will soon follow. Neither the Greeks nor the Germans are willing to give in, and that means that there is very little chance that a debt deal is going to happen […]
What’s Next in the Greek Farce and Why
What’s Next in the Greek Farce and Why The Man They Hate with a Passion Euro area politicians and IMF bureaucrats really hate Yanis Varoufakis’ guts with a passion. The media are full with denunciations of the man as “unprofessional”, negotiators of the euro-group let it be known (anonymously, natch) that “it got to the point where […]
Starvation Is The Price Greeks Will Pay For Remaining In The EU
Starvation Is The Price Greeks Will Pay For Remaining In The EU Syriza, the new Greek government that intended to rescue Greece from austerity, has come a cropper. The government relied on the good will of its EU “partners,” only to find that its “partners” had no good will. The Greek government did not understand […]
Europe Warns Of “State Of Emergency” As Greek Stalemate Drags On
Europe Warns Of “State Of Emergency” As Greek Stalemate Drags On Talks between Greece and creditors collapsed on Sunday after Athens once again refused to compromise on a the pension cuts and VAT hike the troika insists are necessary if the country is to receive the final tranche of aid from its second bailout program. We noted […]
