Google+ Badge

Wednesday, June 17, 2015

Greece’s Syriza Sets Stage For Default, Return To National Currency

The first domino to fall out of the elitist/banker EU orbit and largest scheme to rob the public of all wealth in modern times  

AGENCIES
06/16/2015

A wing of Greece’s anti-austerity Syriza party is eyeing a plan to default on government debt and replace the euro with its own national currency in case negotiations on a bailout with its creditors fail, media have reported.


The plan envisions a default similar to the one implemented by Iceland during the 2008 financial crisis, along with the nationalization of the Greek banking system. The party faction considers the continuing negotiations with European creditors useless, The Telegraph reported Monday citing sources familiar with the matter.

It also foresees controlling capital movements and the establishment of a sovereign central bank to serve as a basis for a new financial system.

The introduction of a dual currency is possible, the source said, but would violate the terms of membership in the eurozone, which could mean a quick return to Greece’s previous currency, the drachma.


The initiative was put forward by 30 MPs from Syriza’s Left Platform, but some members of other factions, and even some MPs from the right-wing Independent Greeks party, which is also represented in the government, have also supported the idea.


Through overreach, greed and a false perception of omnipotence, Merkel, Lagarde, EU, IMF criminals have now terminally doomed their "austerity" enterprise that was designed to pauperise and enslave Europe

“This goes well beyond the Left Platform. We are talking serious numbers,” said one Syriza MP involved in the draft.

“We are all horrified by the idea of surrender, and we will not allow ourselves to be throttled to death by European monetary union,” he told the Telegraph.


That the IMF/EU/elitist banker criminals believed that they could impose THIS in perpetuity is demonstrative of their collective insanity and abject evil

The authors of the draft take the scenario which unfolded in Iceland at the peak of the 2008 financial crisis as inspiration. At that time, Iceland nationalized three major banks, then defaulted, imposed a ban on the movement of capital abroad, and devalued its currency. 


Following the collapse of the EU and IMF Lagarde, Merkel
and their criminal cohorts will be tried for their crimes, their
vast personal wealth and land assets seized and returned to
the people
Afterwards, the country’s economy markedly improved, and the government’s emergency measures received a positive assessment from the International Monetary Fund.

However, Iceland received financial assistance from the IMF and the Nordic countries at that time, but EU countries are currently refusing to provide further financial assistance to Greece unless it carries out painful economic and social reforms.


If the current Greek government, headed by Alexis Tsipras, accepts the terms demanded by its Troika of creditors (the EC, ECB and IMF), it will fail to fulfill its election promises to Greece’s people. The PM says he will not compromise on pension cuts, tax rises or targets for budget surplus in order to make interest payments.

Meanwhile Athens is facing pressure from international lenders to pay 1.6 billion euros in interest to the IMF by the end June. If an agreement is not reached by June 30, Greece is set to lose the opportunity to receive rescue loans needed to make regular debt payments. This could, in turn, result in imminent default, followed by the country’s exit from the euro zone.




Talks between Greece and international creditors held in Brussels on June 13 and 14 brought no results. The European Commission noted that the gap between Greece’s proposals and the general requirements of the Troika continues to amount to about 2 billion euros in budget savings annually, which is about one half to one percent of Greek GDP.

Chairman of the ECB Mario Draghi said on Monday that they had done everything possible to reach a deal in the negotiations. He added that the next move towards reaching a compromise with international lenders must be made by Greece.




Since the Greek crisis broke out in 2010, the EU and IMF have provided loans to the country in the amount of nearly 250 billion euros. Despite a partial write-off of Greek debt in 2012, its public debt currently exceeds 315 billion euros, or 175% of the country’s GDP. This is three times the maximum permissible level for government debt in the eurozone, which shouldn’t exceed 60% of GDP, according to the Stability and Growth Pact.

Greece Tells IMF, Lagarde To Shove It

International Monetary Fund representatives have cut short negotiations with Greek officials in Brussels, after they failed to present a viable reform plan. The move has left Athens, due to repay €1.6 billion by the end June, on the edge of default.


The people of Greece will not take it anymore and are one heartbeat away from returning to the streets

“The ball is very much in Greece’s court,” IMF spokesman Gerry Rice told the media during a specially scheduled announcement, before his team returns to Washington. “There are major differences between us in most key areas. There has been no progress in narrowing these differences recently.”


Merkel's plans to enslave the people
of Greece and the EU have failed, in
spectacular fashion
With wages and pensions at 80 percent of total public spending “it’s not possible for Greece to achieve its medium-term fiscal targets without reforms, and especially of pensions.” 

Rice also told Athens to eschew “unsustainable” tax increases, but called on Athens to collect it’s existing VAT taxes. Greece is carrying €320 billion ($360 billion) of external loans, but has been negotiating a cash-for-reforms deal for a €7.2 billion ($8.1 billion) tranche of a previously agreed bailout that will allow it to stave off an imminent deal. Athens has insisted that it has presented a reform plan, while its delegation said it still believed that “intensifying negotiations” could produce a deal “in the coming days.” 


Its creditors have dismissed its promises as vague, and accused Greece of engaging in brinkmanship.

“There is no more space for gambling; there is no more time for gambling. The day is coming, I am afraid, that someone says the game is over,” said Donald Tusk, the president of the European Council, after chairing an EU-Latin America summit, which he had to leave several times to negotiate with Greek Prime Minister Alexis Tsipras. “We need decisions, not negotiations now.”




Tsipras was due to continue talks with Juncker on Friday, but in view of the latest impasse, it may now be postponed.

Tsipras’s Syriza party was elected in January with backing from traditional socialist voters and an overlapping group of those simply tired of endless austerity measures from Brussels. Since 2008, Greece’s GDP has collapsed by almost a third.

Now, he is experiencing discontent and pressure from both camps. On Thursday, Communist activists unveiled a giant banner with the slogan "We have bled enough, we have paid enough. Take matters in your own hands Greek people! Block the new measures and long-term bailout agreements.”


The war on the bogus "austerity" elitist machine that has crushed the hopes and dreams of millions of Greeks is only just beginning, and will soon engulf the world as The People rise up to reclaim their human rights, freedoms and stolen wealth


It was hung from the finance ministry building in central Athens. The banner depicted Tsipras as just another Euro-stooge, alongside his more moderate predecessors.

At the same time voters in the center, also have reason for discontent. The economy, which was inching towards a tepid recovery, has now plunged into another recession under his uncertain watch, while the latest figures show that unemployment has risen to 26.6 percent.




This news bureau contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc.  We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.

-------------------------------------------------------------------------------------------------------------------

ANDREW KREIG: EXPERTS REJECT FIRE AS CAUSE FOR 9/11 WTC COLLAPSES

The real truth on 9/11 slowly continues to bleed out

 photo
Technical experts are mounting major challenges to official U.S. government accounts of how three World Trade Center skyscrapers collapsed in near-freefall after the 9/11 attacks 15 years ago.

Many researchers are focusing especially on the little-known collapse of

READ MORE >>

-------------------------------------------------------------------------------------------------------------------

The Geopolitics Of The United States, Part 1: The Inevitable Empire

The Empire and the inevitable fall of the Obama criminal regime

 photo
STRATFOR Editor’s Note: This installment on the United States, presented in two parts, is the 16th in a series of STRATFOR monographs on the geopolitics of countries influential in world affairs.

Like nearly all of the peoples of North and South America, most Americans are not originally from the territory that became the United States.

READ MORE >>

-------------------------------------------------------------------------------------------------------------------

Geopolitics Of The United States Part 2: American Identity And The Threats of Tomorrow

A look back at 2011 predictions for the future in order to put events of today into perspective

 photo capitalism_zpsah78uy5p.jpg
We have already discussed in the first part of this analysis how the American geography dooms whoever controls the territory to being a global power, but there are a number of other outcomes that shape what that power will be like. The first and most critical is the impact of that geography on the American mindset.

READ MORE >>

-------------------------------------------------------------------------------------------------------------------


By Robert S. Finnegan

This e-mail outlines and confirms the acts of espionage against Indonesia and Indonesians by Akiko Makino and the others involved both in Kobe University and in AI Lab at University of Airlangga, Surabaya; Bahasa Indonesia original follows English translation...

READ MORE >>

-------------------------------------------------------------------------------------------------------------------

UPDATED 01/07/2015 : New Analysis Challenges Tamiflu Efficacy; Hong Kong Corona Virus Outbreak

UPDATED 01/07/2015 : FOX NEWS CORPORATE PHARMA SHILL MEGAN KELLY AND FOX NEWS QUACK DOCTOR NOW PUSHING TAMIFLU FOR PREGNANT WOMEN AND CHILDREN;

 photo TAMIFLU_small_zpssojx6okt.jpg
THE 5TH ESTATE UNEQUIVOCALLY WARNS THE PUBLIC NOT TO TAKE OR GIVE THIS PROVEN DANGEROUS, INEFFECTIVE DRUG TO ANYONE

Obama criminals now resulting to biowarfare in quest to destroy Chinese and ASEAN economy; "novel virus substrain" points directly to a Kawaoka / Fouchier / Ernala-Ginting Kobe lab virus weaponized and genetically altered to specifically target and infect the Asian population: Ribavirin...

READ MORE >>

-------------------------------------------------------------------------------------------------------------------


 photo WHO02_zpsplmhtlpr.jpg
The 5th Estate has just purchased a library on H5N1 "Novel" virus pandemics, there are dozens of PDF and Exel documents we feel will assist you in saving lives following intentional releases of the H5N1 and now MERS viruses; we will begin by printing those that appear to be extremely relevant here: H5N1 Kobe-Kawaoka-Ernala series continues soon with more "Smoking Gun" e-mails from Teridah Ernala to The 5th Estate . . .

READ MORE >>

-------------------------------------------------------------------------------------------------------------------


By Robert S. Finnegan

On October 12, 2002 the Indonesian island of Bali experienced a terrorist attack that rocked the world. It was unquestionably well-coordinated and executed, the largest in the country's history.

READ MORE >>