{"id":5462,"date":"2015-02-09T06:30:38","date_gmt":"2015-02-09T11:30:38","guid":{"rendered":"http:\/\/olduvai.ca\/?p=5462"},"modified":"2015-02-09T06:30:38","modified_gmt":"2015-02-09T11:30:38","slug":"crunch-time-as-greeces-terrible-deadlines-loom","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=5462","title":{"rendered":"Crunch Time as Greece\u2019s Terrible Deadlines Loom"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/wolfstreet.com\/2015\/02\/08\/crunch-time-as-greeces-terrible-deadlines-loom\/\" target=\"_blank\">Crunch Time as Greece\u2019s Terrible Deadlines Loom<\/a><\/h3>\n<p>Since the election of Syriza, the pressure on Greece has been cranked up to almost unbearable levels. The first shot across the bow came from the European Central Bank\u2019s Master of Ceremonies, Mario Draghi, who warned that if Greece didn\u2019t start behaving itself (i.e. stop all this silly talk about representing voters and restructuring or auditing the country\u2019s wholly unpayable debt), the ECB would, as of February 11th, sever a large chunk of the country\u2019s monetary supply lines.<\/p>\n<p>Should Draghi follow through on his threat, Greek banks will, as of next Wednesday, have to get their daily dose of liquidity from the Bank of Greece instead of the ECB \u2013 and of course at much higher interest rates! Draghi\u2019s threat is a stark reminder of just how dependent Greece now is on the whimsy of a wholly undemocratic, unaccountable, non-independent, Goldman Sachs-infiltrated banking institution \u2013 an institution that, thanks to the banking union hurriedly and stealthily rushed through last year, is now the sole supervisory force of over 80% of Europe\u2019s banking industry.<\/p>\n<p>If Draghi\u2019s MAD threat is not enough to force the Greek government back into strict compliance of the Troika\u2019s law, the Eurogroup Chairman Jeroen Dijsselbloem came up with his own 10-day ultimatum: if Greece did not apply for a bailout extension by February 16th, it would be cut off from access to Euro Zone funding. The ever-dependable US rating agencies Standard &amp; Poor\u2019s and Moody\u2019s then chipped in with even more negative than usual outlooks for the Greek economy.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crunch Time as Greece\u2019s Terrible Deadlines Loom Since the election of Syriza, the pressure on Greece has been cranked up to almost unbearable levels. The first shot across the bow came from the European Central Bank\u2019s Master of Ceremonies, Mario Draghi, who warned that if Greece didn\u2019t start behaving itself (i.e. stop all this silly [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[195,200,279,281,284,1167,2236],"class_list":["post-5462","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-default","tag-eu","tag-europe","tag-european-union","tag-greece","tag-syriza"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5462"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5462\/revisions"}],"predecessor-version":[{"id":5463,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5462\/revisions\/5463"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}