Tag Archive: greece

As Greece is being taken apart (planned along time ago)

Protesters have hurled petrol bombs at riot police after surrounding the Greek parliament ahead of a final deadline for the country’s €86 billion bailout deal.
Police responded with tear gas against dozens of hooded anti-austerity demonstrators who set ablaze parts of Syntagma square in central Athens.
Officers also used pepper spray to fight back youths in the 12,000-strong crowd who were hurling Molotov cocktails and rocks at them. The youths, some carrying clubs and wearing balaclavas, had mingled with ordinary protesters when crowds gathered as MPs decided the country’s fate.
Prime Minister Alexis Tsipras has angered many in his anti-austerity party and leftwing supporters by throwing his weight behind the bills, which he and eurozone counterparts agreed to on Monday in order to unlock a new rescue to debt-laden Greece worth up to €86 billion.

Greeks have reacted to the news of today’s bailout deal with fury, saying the tough reforms agreed to by Prime Minister Alexis Tsipras condemned the country to ‘misery, humiliation and slavery’.

While striking a deal was considered vital to securing Greece’s future within the euro and preventing the country’s economy collapsing, Prime Minister Alexis Tsipras agreed to rush key measures on tax hikes, pension reforms, and a debt repayment fund through parliament.
tsipras Merkel

Did you hear the news? “Greece Says No to Further Austerity Measures!” Did you shake your head and say, “Wow, the nerve of those people refusing to cut their expenses in the face of all that debt”?

I’m no financial expert, but I don’t think that tightening up the budget was really what they were turning down.

I think that they were turning down the opportunity to continue under the tyrannical rule of the EU. They were breaking free.

Greece has overwhelmingly rejected Europe’s latest bailout package, plunging the country’s future in the Eurozone into jeopardy.
With all of the votes counted in a referendum that will shape the future of the continent, the ‘No’ campaign has a staggering 61 per cent of the vote – 22 points ahead.
German Chancellor Angela Merkel and French President Francois Hollande called for an EU crisis summit to find a ‘solution’ for Greece, with leaders set to meet in Brussels tomorrow.
Thousands of anti-austerity voters took to the streets in celebration as the leader of the pro-EU ‘Yes’ campaign resigned, but there were some minor skirmishes between protesters and riot police as tensions bubbled over.
But German politicians warned of ‘disaster’ as they accused Greek Prime Minister Alexis Tsipras of ‘tearing down bridges’ between Greece and Europe, with stock markets expected to take a sharp hit when they open this morning.
The news comes as Yanis Varoufakis today made the shock announcement that he is resigning as Finance Minister with immediate effect despite playing a key role in securing the ‘No victory’.

10.15: The Footsie eased off its worst levels but still remained severely depressed as the morning session progressed as Greece moved a step closer to a debt default and a possible exit from the euro, with travel and tourism stocks the worst off in London.

By mid morning, the FTSE 100 index was down 105.7 points, or 1.5 per cent at 6,648.0, having dropped around 2 per cent at open.

In Europe, Germany’s Dax 30 index and France’s CAC 40 index were both down over 3 per cent, after Greece closed its banks for the week as it prepared for a referendum on the latest bailout deal put forward by its creditors, with the Athens stock markets also to be shut all week.


Greece to introduce capital controls, keep banks shut as crisis deepens

Greece will introduce capital controls and keep its banks closed on Monday after international creditors refused to extend the country’s bailout and savers queued to withdraw cash, taking Athens’ standoff to a dangerous new level.

The Athens stock exchange will also be closed as the government tries to manage the financial fallout of the disagreement with the European Union and the International Monetary Fund.

Greece’s banks, kept afloat by emergency funding from the European Central Bank, are on the front line as Athens moves towards defaulting on a 1.6 billion euros payment due to the International Monetary Fund on Tuesday.

Greece blamed the ECB, which had made it difficult for the banks to open because it froze the level of funding support rather than increasing it to cover a rise in withdrawals from worried depositors, for the moves.

Prime Minister Alexis Tsipras said the decision to reject Greece’s request for a short extension of the bailout program was “an unprecedented act” that called into question the ability of a country to decide an issue affecting its sovereign rights. “This decision led the ECB today to limit the liquidity of Greek banks and forced the central bank of Greece to propose a bank holiday and a restriction on bank withdrawals,” he said in a televised address.

Amid drama in Greece, where a clear majority of people want to remain inside the euro, the next few days present a major challenge to the integrity of the 16-year-old euro zone currency bloc. The consequences for markets and the wider financial system are unclear.

Greece’s left-wing Syriza government had for months been negotiating a deal to release funding in time for its IMF payment. Then suddenly, in the early hours of Saturday, Tspiras asked for extra time to enable Greeks to vote in a referendum on the terms of the deal.

Creditors turned down this request, leaving little option for Greece but to default, piling further pressure on the country’s banking system.

The creditors want Greece to cut pensions and raise taxes in ways that Tsipras has long argued would deepen one of the worst economic crises of modern times in a country where a quarter of the workforce is already unemployed.

Pro-European Greek opposition parties have united in condemning the decision to call the referendum on the bailout terms, but many people are supportive.

“I want him (Tsipras) to knock his fist on the table and to say ‘enough!’,” said Athens resident Evgenoula.

Many leading economists have voiced sympathy with the Greek government’s argument that further cuts in spending risk choking off the growth which would give Greece some prospect of servicing debts worth nearly twice its annual national income.
Related Coverage

› How much Greece owes to international creditors
› Fact box: Political scenarios for Greece as it heads to referendum
› Greek council recommends shutting banks for six working days

The IMF has pressed European governments to ease Athens’ debt burden, something most say they will only do when Greece first shows it is trimming its budget.


Long lines formed outside many ATMs on Sunday, including some of 40 to 50 people outside some in central Athens.

The Bank of Greece said it was making “huge efforts” to ensure the machines remained stocked.

The German foreign ministry said tourists heading to Greece should take plenty of cash to avoid possible problems with local banks and some tourists said they were joining the ATM queues.

“I am trying to go over to the bigger banks,” said Cassandra Preston, a Canadian tourist. “I am here for another month and I would like to make sure I have some cash on me.” READ MORE


Please don’t worry if you can’t see the comedy, you will. Play the Specials and look at the photo, its fun

greece-bailout-proposal-talks.siGet it yet? They’re all actors, its all a game. no really, everystep of the way now is a plan, wake up, it’s all a load a bollocks …. really ….. wake up Consciousshift2012

Hi make sure we’re doing our duty is it, or perhaps ensure that what is true in our hearts is made known to those who sleep.

Greece and its European Union creditors have been trading criticisms just a day before crucial negotiations in Luxembourg, the failure of which could result in the country’s exit from the eurozone.

Greek Prime Minister Alexis Tsipras has described demands by the country’s rescue lenders to slash pensions “incomprehensible”, while EU officials say their compromise proposals already lean towards Greece’s side.

EU Commission Vice President Valdis Dombrovskis said on Wednesday, a day before Thursday’s crucial talks in Luxembourg, that Greece should offer a more realistic plan instead of complaining about the proposals made by the creditors.


“It is important that the Greek side actually not only communicates what they do not want to do, but also what they do want to do,” he said.

Greece needs more loans from its creditors before June 30, when its bailout programme expires and it is scheduled to make a debt repayment worth about $1.8 bn to the International Monetary Fund (IMF). The creditors want Greece to make economic reforms but Athens is baulking.

If no deal is reached, Greece would face “dramatic” economic consequences, the country’s own central bank has warned.


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