Political, financial turmoil in Greece

http://www.zerohedge.com/news/2015-06-19/imf-trained-greek-journalists-washington-spin-stories-favor-troika


In what can only be described as a shocking testimony, Greece’s former representative to the IMF, Panagiotis Roumeliotis, in front of the special parliamentary committee on the Greek debt, said that several Greek journalists were “trained” in Washington D.C. in order to support the positions of the IMF and the European Commission in Greek media...cont. at link.


OOPS!

They deserve to have more exposed like that.  

That appears to be to try to stop the ongoing bank run - though I am amazed that anyone has left any cash in Greek banks, underneath the mattress, preferably in another currency, is much wiser in times like these.

It will all be over soon......

Or not.....

http://news.sky.com/story/1506723/greece-crisis-more-twists-and-turns-to-come

Do NOT ask me what the Greek PM has done, beyond annoy just about everyone its possible to annoy. He has, however, delayed the inevitable for just a bit longer...

Oh my.....it's all rather complicated what with Russian agreements too?

And I gather the Greek public is furious too, Lily, what with mores taxes and cuts, and general money grabs, to keep the Troika happy.

I personally don't think Greece has an alternative except to tell the Troika to take a hike, and then start over again. Oh, and to put their former leaders that caused this mess in the first place on trial for treason, or anything else they can think of.

Remember, when Greece joined the euro, their then-leaders KNEW the country didn't meet the economic criteria, but Goldman Sachs helped them cook the books. And Deutsche Bank is involved in the mess, too

Ordinary Greeks are responsible for about one-eighth of this mess, but are being expected to pay for all of it, when the rest was cooked up by financiers, banksters and other international low-lives.

I also believe they would be far better off away from those well....crooks.

http://www.zerohedge.com/news/2015-06-23/unspoken-tragedy-upcoming-third-greek-bailout

That's quite a good piece about just where all this money is going - clue, very little of it is for the benefit of the Greek public.


Which means that of this widely touted €35 billion, Greece will be lucky to pocket a little over €3 billion. However, considering that is how much the Greek government has already extracted out of various public pensions and municipalities as part of its quasi-capital controls unrolled previously to preserve the illusion of solvency, after the hard fought "deal" finally is inked, the Greek population will be left with...

€0.

Excellent piece.   They wouldn't even get to eat cake.....

Love the pictures of the front pages of the Economist on there.  Especially 'Acropolis Now'. 

Always worth remembering that angry European mobs aren't like American mobs - they tend NOT to attack passers-by and loot shops.

No, they generally go to the heart of the problem, and attack government offices, tax offices, etc. And if they are really, really angry, the causes of their ire have been known to end up dangling upside down (Mussolini) or in front of firing squads (the Ceausescus).

Not that I would wish to see Greece's problems come to a head in such a manner, but there are plenty of pointers in fairly recent European history to just what can happen when people are pushed too far......

Wonder what the next move will be.....

I can't even begin to guess, Lily, not least because it isn't in the interests of the Troika, etc., for Greece to get out of this mess - not when they are being forced to sell off their country and assets a bit at a time.

I am, however, prepared to predict that whatever happens, it won't be to the benefit of ordinary Greeks.

Oh.  You mean that some people are going to get even more outrageously wealthy than they were before?

Now that would be a surprise....

Love then launched a furious attack on the French president over the lack of a police response.
She tweeted: 'François Hollande where are the f****** police??? Is it legal for your people to attack visitors? Get your a** to the airport. Wtf???'
The former Hole frontwoman later posted a video on Instagram showing several intimidating men surrounding her vehicle at a petrol station.
She wrote: 'How on earth are these people allowed to do this? The first car was destroyed, all tires slashed and beat with bats.
'These guys trying to open the doors and the cops are doing nothing?? French Taliban? Civil reform needed in France?? I want to go home.


Read more: http://www.dailymail.co.uk/news/article-3138835/French-taxi-strike-protesters-smash-rocker-Courtney-Love-s-cab-driver-hostage-driven-Paris-industrial-action-Uber.html#ixzz3e5dsDWoN
Follow us: @MailOnline on Twitter | DailyMail on Facebook

Well-known media luvvie Courtney Love discovers all that People Power isn't quite so much right-on, keeping it real, fun as she thought.

http://www.zerohedge.com/news/2015-06-25/forget-grexit-madame-frexit-says-france-next-french-presidential-frontrunner-wants-o

Oh joy, more chaos! I wonder if the many rumblings of discontent throughout Europe are what lay behind HM's rather odd intervention?

Now that is a very interesting article, Bonny.   I realize she will have to be elected first.

And Merkel waves the big stick:

http://www.zerohedge.com/news/2015-06-25/merkel-wont-be-blackmailed-greece-demands-deal-monday-market-open?page=1

As EU leaders convene for a two-day summit in Brussels (where it will be all Greece, all day, despite what anyone says), German Chancellor Angela Merkel now looks to be leaning towards drawing a line in the sand consistent with her finance minister, her lawmakers, and her central bank chief.

GERMANY'S MERKEL TOLD EU PARTY LEADERS THERE MUST BE DEAL ON GREECE BEFORE MARKETS OPEN ON MONDAY -PARTICIPANTS
MERKEL ALSO TOLD CONSERVATIVE EPP LEADERS "WE WON'T BE BLACKMAILED" BY GREECE -PARTICIPANTS

Yes, but what is best for the people of Greece, and not Merkel's central bank? IMO, this could all come unglued very quickly.

All it takes is the first domino to fall......

Falling dominos in 3--2---

http://www.zerohedge.com/news/2015-06-26/tsipras-rejects-ultimatums-says-wont-be-blackmailed

Greece Invokes Nuclear Option: Tsipras Calls For Referendum
Tyler Durden's pictureSubmitted by Tyler Durden on 06/26/2015 16:00 -0400

B+ Budget Deficit Creditors default Eurozone Finland France Germany Google Greece Netherlands




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Update: Greek PM Alexis Tsipras has announced a referendum in a televised speech to the nation after another day of fractious negotiations with creditors closed without a deal.

The dramatic move comes after Athens rejected a proposal from the troika aimed at delivering some €16 billion in aid to Greece as part of an extension of the country's second bailout program.

GREECE'S TSIPRAS SAYS CREDITORS POSED ULTIMATUM TO GOVT
GREECE'S TSIPRAS SAYS CREDITORS PROPOSALS ARE AGAINST EU RULES
TSIPRAS SAYS CREDITORS AIM TO HUMILIATE GREEK PEOPLE
TSIPRAS SAYS WILL CALL REFERENDUM ON GREEK DEAL WITH CREDITORS
TSIPRAS GREEK REFERENDUM WILL BE HELD ON JULY 5
TSIPRAS SAYS HE NOTIFIED MERKEL, DRAGHI ON REFERENDUM PLAN
TSIPRAS SAYS GREECE IS, AND WILL STAY PART OF EUROPE
TSIPRAS SAYS GREECE NEEDS TO SEND DEMOCRATIC RESPONSE TO EU
Protothema now says the Greek parliament will meet on Saturday and a referendum will be called as early as next week. Whether this is simply a last minute attempt to put pressure on EU finance ministers ahead of Saturday's Eurogroup meeting remains to be seen, but one thing is for sure: Tsipras is playing a dangerous game with the ECB ahead of a difficult week that could very well see the imposition of capital controls.

Also here:

http://news.sky.com/story/1509181/greece-to-hold-referendum-on-bailout-extension

Oh my word!!  This is something of a cliffhanger.....

Can't cope with Greece at the moment. But The Euro is at 71 pence so it isn't all bad. At least not for me.

Just in case anyone hasn't found the last week or so depressing enough:

http://www.zerohedge.com/news/2015-06-28/g-7-eu-banking-officials-hold-emergency-calls-ahead-black-monday



But I think it's good for Sabot and others if the euro collapses? Dunno, it's all got way, way beyond me.

bb1 wrote:Just in case anyone hasn't found the last week or so depressing enough:

http://www.zerohedge.com/news/2015-06-28/g-7-eu-banking-officials-hold-emergency-calls-ahead-black-monday



But I think it's good for Sabot and others if the euro collapses? Dunno, it's all got way, way beyond me.

Probably not, Bonny. It would depend on the exchange rate at the time of collapse, if there is a collapse. But Greece is nothing in the overall picture. Only Greece can suffer at this point. Which I suspect Greece knows.