Home » Posts tagged 'troika' (Page 6)
Tag Archives: troika
Greek election: It’s really up to the ECB and EU now
Greek election: It’s really up to the ECB and EU now
The result was worse than expected whatever the final outcome – the anti-austerity vote is massive, but it could be an empty gesture as Greece in reality has little choice: Comply with the Troika or leave the EUR. I doubt the later will happen with the same vote as the Greeks are tired of austerity but not off being European.
…click on the above link to read the rest of the article…
Greece’s New FinMin Warns “We Are Going To Destroy The Greek Oligarchy System”
Greece’s New FinMin Warns “We Are Going To Destroy The Greek Oligarchy System”
Over two years ago, we first highlighted Yanis Varoufakis’ perspectives on the destruction of Greece and Europe’s bogus growth pacts. Since then he has grown in both reason and popularity as his no-nonsense discussons of the mis-design of the euro (and potential solutions) have made him the front-runner to be Syriza’s new finance minister. Never one to mince words or play politics, Varoufakis tells Channel 4’s Paul Mason in this brief (but chilling for Brussels) interview, what his party would do if it gets into government in Greece, and admits the prospect of power in Europe is “scary”. As he sums up, “we are going to destroy the Greek oligarchy system,” and with it, we suspect, much of the narrative that holds the fragile European Union together…
As Varoufakis previously explained,
The Troika is trying to suffocate us and to put pressure on the democratic choice by telling us: either you follow our requirements, or you will be cast into hell.They actually have their own threats as exogenous circumstances of the situation, as they are simply part. They are trying to terrorize the Greek voters.
Doesn’t seem like much middle-ground there.
But if no agreement is possible, or found?
…click on the above link to read the rest of the article…
Anti-austerity Syriza sweeps Greece parliamentary poll
Anti-austerity Syriza sweeps Greece parliamentary poll
Party’s leader Alexis Tsipras, who wants to renegotiate EU and IMF bailout terms, set to become next prime minister.
Syriza, a radical left party, has swept to power in Greece promising to end years of painful austerity policies, in an election victory that puts the country on a collision course with the EU and international creditors.
In a result that exceeded analysts’ expectations, Syriza and its 40-year-old leader Alexis Tsipras won 149 seats in the 300-seat Greek parliament, just two short of an absolute majority, with most of the votes counted on Sunday.
Antonis Samaras’ New Democracy, the former party of government, was routed and reduced to around 76 seats.
Syriza, which says it does not want to leave the euro, will become the first anti-austerity party to take power in Europe and Tsipras will be Greece’s youngest prime minister in 150 years.
Tsipras, a former Communist youth activist, told thousands of flag-waving supporters in Athens: “Greece is leaving behind disastrous austerity.”
Tsipras repeated his pledge to renegotiate the terms of Greece’s $269bn bailout with the EU and the International Monetary Fund, but struck a more conciliatory tone than during his fiery campaign.
…click on the above link to read the rest of the article…
Is This The Day Europe Gets Its Future Back?
Is This The Day Europe Gets Its Future Back?
With The Greek election in full motion, and first results perhaps 12 hours away, It would seem useful, no matter how the Greeks vote, to lay to rest a few misconceptions, and to expose a few ‘conceptions’ that have – largely – remained buried to date.
The first misconception is that the Greeks borrowed like crazy and therefore deserve to be thrown into a pit of suffering and misery. It is simply nonsense, a mere political narrative. Besides, most of what was borrowed went to the utterly corrupt ‘oligarch system’, not to the people in the street. Something the EU was certainly aware of when it accepted Greece as a member. But corrupt regimes can be of great use.
A few days back, in Bunch Of Criminals!, I made the point that the EU, and its members, have no right to do to a fellow member country what they did to Greece – and want to continue doing -.
SYRIZA leader Alexis Tsipras said this week that he will not negotiate with the Troika, but directly with EU officials. And there is a very solid reason for that. In today’s Observer, Helena Smith interviews Greek sociologist Constantine Tsoukalas, who understands what has been happening to his country, and – rightfully – frames it in terms of Naomi Klein’s Shock Doctrine.
What has happened to Greece is what Klein describes was done to South America and – later – Eastern Europe. Disaster capitalism. Bringing entire countries to their knees by enforcing predatory economic policies, and then using the ensuing chaos and smouldering ruins to take full control over their political, economic and social systems. Helena Smith:
…click on the above link to read the rest of the article…
Troika Punches Panic Button on Greece and Spain
Troika Punches Panic Button on Greece and Spain
After four years of inflicting economic pain and misery on Europe’s semi-bankrupt periphery, the Troika (IMF, ECB and European Commission) is suddenly in a lather over the potential political consequences of its disastrous economic policies: “I wouldn’t like extreme forces to come to power. I would prefer if known faces show up,” said European Commission president Jean-Claude Juncker regarding the upcoming Greek elections.
Speaking at a press conference in Pekin, the IMF’s Chief Economist Oliver Blanchard warned that unemployment in Spain remains too high, fueling a surge of support in “populist movements” and “political parties that do not want to form part of the euro.”
Blanchard’s words were a barely veiled reference to the phoenix-like rise of Podemos, a stridently anti-establishment but far from Eurosceptic political party. In recent polls of voter intentions for the upcoming municipal elections (March) and general elections (September), the new party, now in its second year of existence, has consistently commanded between 25% and 30% of the votes – more than either of the two main parties.
The fear among the political elite, both in Madrid and Brussels, is palpable. In the last few days, Prime Minister Rajoy dispatched his Vice-President, Soraya Sáenz de Santamaria, and Minister of Industry, José Manuel Soria, on a vital mission to persuade Spain’s biggest media conglomerate, Grupo Planeta, to adopt a more critical tone in its reporting on Podemos. In return the government will offer the broadcaster more licenses for more channels. Bienvenido a España!
…click on the above link to read the rest of the article…
