It’s the same old song.
After the latest round of Greek pre-negotiation negotiations with the Troika, in which the Greek representative was said to behave like bob Geldof at a Live Aid fund raiser, and demanded “just give us the fecking money” because his country would soon be bankrupt and the Eurozone members expressed shock and dismay at Athens’ lack of movement in its plans, probably because it finally dawned on them that Athens hasn’t any plans other than to say “This single currency thing, it wasn’t our idea OK.”
A major problem is the reluctance of Greek government representatives to talk about cutting civil servants’ pensions” which indicates the next Greek step is to fall back again to square zero: threats of an imminent default if the EU does not cough up.
Which is precisely what, according to the FT, has happened only it has not been officially announced yet.
Now that the Eurozone, foolishly, thinks it is insulated from the consequences of a Grexit due to the ECB’s QE, it does not take to ultimatums or blackmail very well. In fact, it takes these very badly.
As Reuters reported during the weekend news lull, “even if it survives the next three months teetering on the brink of bankruptcy, Greece may have blown its best chance of a long-term debt deal by alienating its euro zone partners when it most needed their support.”
Financial Coup in Greece
From day to day mainstream and alternative media commentators speculate about when Greece will finally admit is is bankrupt and will have to leave the European Single Currency system, abandon the Euro and return to the Drachman, and the Euronazis of Brussels admit they were wrong to bend the rules in order to get Greece to adopt the Euro, and stop piling more agony on the long suffering Greek people and help organize a painless exit.
The Greek “White Knight” Emerges: Putin To Give Athens 5 Billion For Advance Gas Pipeline Fees
With Greece teetering on the edge of insolvency and forced to raid pension and most other public funds, ahead of another month of heavy IMF repayments which has prompted even the ECB to speculate Greece should introduce a parallel “IOU” currency, a white knight has appeared out of nowhere for Greece, …