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Global financial mafia's plans for Greece confirmed!

globinfo freexchange

Some sources familiar with the negotiations between Greece and its lenders made remarkable statements proving that these institutions (IMF, ECB, European Commission) had set a trap to Tsipras administration in order to retain Greece's course into the most catastrophic neoliberal policies.

From marketwatch:

Greece’s international creditors have suggested extending the country’s bailout program until the end of March 2016, but disagreements over the conditions attached to the continued support and what would happen afterward risk undermining that plan, three people familiar with the negotiations said Monday.

The eurozone’s portion of Greece’s €245 billion ($272 billion) rescue program runs out at the end of June, which has raised questions over how Athens will pay its debt beyond this month and remain in Europe’s currency union. To ensure that Greece doesn’t run out of money until the end of March, it would get access to some €10.9 billion that had been set aside under its old bailout for recapitalizing weak banks, the people said.

What we offered would mean that Greece is fully financed until March 2016,” said one person, referring to a meeting last week between European Commission President Jean-Claude Juncker, Greek Prime Minister Alexis Tsipras and Jeroen Dijsselbloem, the Dutch finance minister who represents eurozone governments in the talks.

First, it is proven what many times has been mentioned in this blog, that the lenders had set a specific timeline, hoping that their previous puppets in power (Samaras administration), could end their term normally:

According to the schedule, Samaras would finish his term normally in 2016, so that the last steps of the experiment should be taken: sell off public property, complete dissolution of labor rights, minimum wage at 300 euros, further cuts in wages-pensions.” (official-tsipras-exposes-euro-banking)

Second, that the lenders "mined" the way towards an agreement far from their expectations, when SYRIZA showed that it could win potential national elections which indeed happened in 25th of January. This latest information shows that the amount of 10.9 billion has been taken away from SYRIZA in order to prevent implementation of its program as promised and force government officials to retreat on lenders' demands. Yanis Varoufakis revealed recently that this was done by the lenders in cooperation with the previous government:

Prior to the Greek elections, SYRIZA examined the possibility to use the deposits of about 11 billion of the HFSF, to implement its program concerning, partly, the relief of the most vulnerable who were hit heavily by the crisis in Greece. However, eurogroup did not approve this because demanded that this amount should be used only for the re-capitalization of the Greek banks, if necessary. [...] Varoufakis revealed that the main reason for which all the money 'flew' from the hands of the new Greek government, was because the previous Samaras-Venizelos coalition accepted the terms and the legal frame for the HFSF, under which the Greek Public has absolutely no jurisdiction on the Fund deposits.” (official-hfsf-is-totally-out-of-greek)

Now we know. The international financial mafia is mobilizing all the means available to force Greece to surrender in this cruel financial war, but shows also signs of panic because time is running out for its representatives too.


  1. Anonymous10/6/15 14:26

    As a Dutch citizen I have had it with Greece's endless list of chicaneries.

    First they insinuate themselves into our Euro zone by cooking het books. Then they had years of irresponsible fiscal policies (large structural deficits, i.e. simply living beyond their means) and financing their deficits by borrowing against low rates that they could get only by being part of the Euro.

    Then, when the crisis struck in 2008, Greece put our EU banking system in jeopardy because of their huge debts which they couldn't possibly repay, since several EU banks had so much bad Greek debts that they faced bankruptcy themselves, threatening a domino effect in the financial world. This is because all banks lend from and to each other, so if one defaults its lenders may well be unable to meet their own obligations. To make a long story short, we, the other EU taxpayers, had to buy up all the bad Greek debts (to the tune of a few hundred billion Euro's) to keep our banks from meltdown over Greek junk debts. Thanks Greece!

    When we bought Greece's bad debts, we _loaned_ Greece that sum, we didn't _donate_ it, even if we were prepared to be (very) flexible on repayment terms.

    We had an agreement with the then Greek government to (finally) put its finances in order (i.e. not spending more than they earned as they had done in the past, finally collect the taxes that so many Greeks are so adept at dodging, and remove several sickening layers of government sinecures handed out by politicians as bribes or simply as nepotism) in return for soft loans.

    The Syriza came along which basically tore up the agreements and is now trumpeting that not only we should make Greece a gift of what had been a huge bail-out loan but that we really cannot ask them to overhaul their idiotic pension scheme (whereby people can retire in their late fourties / early fifties), and we cannot ask them to streamline their costly, bloated (and unproductive) government, and that we cannot insist tha tthey increas their VAT.

    Then, this same Syriza missed a whole series of deadlines at which it was supposed to tell us how it intends to balance Greece's books (we got a few lectures from mr. Varoufakis instead), all the while not-so-subtly reminding us of their nuisance value ("if you don't go easy on us, we'll wreck your Euro by creating a big stink when we go bankrupt").

    And to top it all off, we are now being told that we are "attacking" Greece and are crooks for not letting Greece off the hook for their own irresponsibility.

    As far as I'm concerned, enough is enough. A Euro group in which we face this kind of blackmail is simply not worth having.

    My favoured option would be for Greece to leave the Euro, within weeks. I'm happy to face any risks to the Euro; we'll cross that bridge when we come to it. It can't be worse than what we face now.

    I understand (and reluctantly agree) that we should throw Greece a lifeline, but if we do, I insist that is is *us* who sets the conditions, not Greece. Greece will either do as it is told (reforms as specified) or go bankrupt.

    Both outcomes are aceptable to me. If that makes me "neo-liberal", then so be it.

    1. Anonymous10/6/15 16:07

      Poor bankers, they almost lost money, did they? Almost.
      Thanks to political "solidarity", all bad private debt was purchased by EU taxpayers - moral hazard justified to the nth degree.
      Remember how this solidarity was sold by said politicians to the sheeple?
      I'm sure they still laugh at all this at every BIS dinner..

    2. Anonymous10/6/15 16:56

      Please don't kid yourself that any of this is about bankers, moral hazard, sheeple, or BIS dinners (whatever those are) or any other flights of fancy.

      It's about ensuring that Greece will put its finances in order in ways that ensure it won't deficit-spend its way into yet another financial hole (as was agreed with the previous Greek government), before we release any more loans.

      Of course Greece doesn't *have* to accept our conditions. It's welcome to choose the alternative, Ok?

    3. Anonymous10/6/15 17:19

      To the first post from the Anonymous Dutch citizen's posting @ 10/6/15 14:26

      A very accusational tone to your simplistic summary of what the problem actually is.
      Why is nobody ever on the side of the average Greek citizen who has been living in a shell of an existence? Their token gesture salary comes in, taxes and bills get deducted and the guy or gal doesn't have enough in the middle of the month to buy themselves a coffee. We aren't talking jetting off somewhere, or a new car or wining and dining with the ladies and gentlemen enjoying this misery because they have ways and means of hiding their money.
      We are talking about people who can not buy their grandson an ice-cream. Can not buy themselves a cup of coffee to meet with a friend to allow some time where their minds are allowed to wander away for a few moments, not having the focus that the media is ramming down their throats about the absurd ask from the Euro-bureaucrats as they seek to tighten the screws even further.

      Take a trip into Greece if you want to know the truth of the situation,
      +50% youth unemployment, big multi-national companies (eg: Phillips) loving the situation because they can get away with paying their employees even less on the premise that they might be able to offer them continued employment and an'empty husk mistaken called a life.

      Go on, take a flight and take a look at what's happening in the reality of this so called fantastic lifestyle being hidden away from the cameras and the press.

      Why is nobody asking who has or who are benefiting from all of this mockery of a negotiation? People with dual citizenships, multi-national companies, people of the socially mobile elite.

      Have a think before you make general comments casting aspersions over the morally crushed people of a place that once enlightened the world we live within.
      Even those who haven't quite figured out wood isn't the most suitable material for shoes.

  2. Anonymous12/6/15 00:01

    @Anonymous 10/6/15 17:19

    My tone accurately reflects my own state of mind and (I believe) that of most EU citizens concerning Greece's past and current conduct. From its fiscal irresponsibility in the past to its current refusal to reform its economy and its insistence that we really owe it to them to supply them with more cash and can't ask for economic reforms.

    I believe it matters not one whit whether my reply to the article is or is not accusatory because I believe it is _accurate_. Simplified, but accurate. If it is not, you are hereby invited to point out (with specificity) where my representation is wrong.

    I admit that much of the Greek population lives in poverty, and I know that it hurts. Unfortunately it is all the more reason to reform the economy and not bog it down further with unproductive make-work government jobs.

    If you must, provide people with unemployment benefits, provide food stamps and government healthcare for the needy. Put all that in your government budget, and explain to the creditors what you are doing and why. They may accept more than you think in terms of clearly marked welfare programs, but polluting the government machinery with make-work jobs is not acceptable.

    And please don't forget that there are a few EU countries that have had to foot the bill for Greece's bad debts but have an even lower GDP per capita than Greece itself.

    In addition, it is my considered opinion that it serves no purpose to follow up on conspiracy-theory narratives of "who are benefiting".

    If you want to do something, make sure Greece collects all the taxes it is owed. It is well known that Greece has a substantial share of millionares who pay scant taxes in Greece. That's Greece's responsibility, not ours.

    It's also well-known that Greece has a number of peculiar exemptions for income tax (see ), whereby income from ships and shipping, dividends from a Greek company, and "Proceeds from the sale of shares that are traded on the Athens Stock Exchange" are tax-exempt. Why? Is that our doing or is that Greece's doing?

    As to multinational companies, tell me how they contribute to Greece's economic plight. You'd rather they left?

    And as to socially mobile elite ... what about them? Is there perhaps a reason those people (a) choose not to stay in Greece and (b) not to help their own country?

    Is that something that puts obligations on the rest of us? Somehow I don't think so.

    In summary: we're (still) ready to help, but some of the terms (specifically economic reforms) are not negotiable. With or without democratically elected nay-sayers.


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