|Posted by moodhacker on June 23, 2015 at 3:45 AM|
The IMF gambled on Greece and has lost
Optimism at the euro’s launch has turned into backbiting and betrayal. No wonder Christine Lagarde is panicking
Published at 12:01AM, June 23 2015, by the Times,co.uk
Harold Pinter’s play Betrayal takes a story of marital infidelity and tells it backwards. It begins with the weary former lovers reflecting on their seven-year affair and the wrecks of their marriages and ends with the first flush of their romance.
This might make rather a good template for a play about the euro crisis. We could begin in the Justus Lipsius building in Brussels yesterday in Greece and its jaded, miserable creditors,closer to divorce than rapprochement, missing yet another deadline.It would end in the same place on the day the euro was launced 16 earlier....
“They’ve absolutely won. This is a massive victory,”
Rahman, Mujtaba Rahman, head of the Eurasia Group’s European practice, told Foreign Policy .
Now, Greece will likely live to see another day in the eurozone. And Tsipras’s strategy to keep Europe’s hands out of Greek retirement funds worked.
Aria Danika @AriaDanika 10h10 hours ago
FP sees a major victory for #Tsipras->"They’ve absolutely won.This is a massive victory”
On Monday, with both a looming June 30 deadline to pay back the IMF and Russian President Vladimir Putin, Europe blinked,says FP
For months, Greece and the European Union have squared off over austerity in Athens. The Europeans, led by Germany, demanded Greek Prime Minister Alexis Tsipras reform his country’s bloated pension system. Tsipras refused and held a $1.8 billion debt repayment to the International Monetary Fund as a hostage to get his way.
Greek Finance Minister Giorgios Stathakis submitted a reform plan Monday that included new taxes on Greece’s businesses and wealthy citizens, but does not change the Greek retirement system. Now, as European leaders hold an emergency meeting to discuss the standoff, a deal for Greece to pay part of what it owes — the total bailout to the cash-strapped nation is $270 billion — is expected within the week.
Monday’s events mark a stunning turnaround from last week, when the European Central Bank had to lend Greek banks money to stop a run on banks there, FP notes . Then, it appeared as if Europe was content to let the Greeks default, an event that could lead to to so-called Grexit: Greece getting kicked out of the European monetary club. And they got further , on a perfect orchestrated way
Semiology and cynicism , right on Greece's most dramatic and stressful moments, was well prepared and perfectly launched on accurate timing by the German side. Hours before the critical Monday summit on June 22, a German drink named Grexit was announced it is ready to be launched , sunchornized to the "expected Grexit" in the German market just at the end of June.
The vodka lemon drink is to be served by its bottle picturing Alexis Tsipras and Yiannis Varouakis on the etiquette , by the comment on it " Sour does entertain... "
"Sour does entertain you! "" Sauer macht Lustig"
As Greeks, we really never had the obsession that Germany loves us .( For the US , though, we might do ...)
Angela Merkel -Vladimir Putin hate &fear affair
With an Assist From Putin, Greece — for Now — Wins was FP subtitle on its article, June 23, early morning hours after the Brussel' summit announcements.
The prospect of Russian President Vladimir Putin rescuing Greece might be enough to get Europe to cave to Athen's debt demands, was the comment
Barack Obama @obama1_obama 16h16 hours ago
http://www.bizbiz.mobi/d78 Kasich: Russian Bailout of Greece Would Be 'Very Ugly Scenario' http://zipzp.eu/?a=BHshFw #Obama
According to Mujtaba Rahman, the Greek prime minister’s flirtation with Putin was enough to break Europe’s collective will. As Tsipras met with Putin last week in St. Petersburg, Russian officials said they would consider giving Greece emergency aid. Greek and Russian officials also announced a natural gas deal last week, and in the past, Putin has promised to invest in infrastructure there.
Even though the leftist Greek govenrment was heavily critisized for this flirtation with the East, it could not be hidden form the world's eyes, that not only due to the geography, but also due to long term historic tradition, and Christian Orthodox religious affairs, Greece's -Russia's relations have been established decades earlier than Alexis govt came to reignance, and also, has contributed much to our fragilie tourist sector, which comes now to be the only profitable asset Greece today has kept in its hands .
Over the weekend , June 20-21, just before Greece's critical Monday 22/06 appointment with EU, Foreing Policy exprets on the BBC airshow admitted that "this is and acient historical geopolitical relation between the two countries, not signfying, as was broadly understood, a turning back position of Greee on Western world.
Making the poker game of timing, though, more exciting, Tsipras and Putin did announce to the world that they singed a two countries' memorandum, two times: on Tsipras first visit to Moscow, a memorandum for educational, tourist and religious activities exchange, but also a gas pipeline memorandum, on the recent Tsipras trip to St-Petersburg.
Pipeline and the error of potential Russia to Greece financial aid
This developing relationship is something German Chancellor Angela Merkel has good reason to fear empahsized the Foreign Policy Article. She needs European and NATO unity to continue sanctioning Russia for its actions in Ukraine.
However, the basis for Russian-Greek cooperation — the Turkish Stream pipeline — may end up being a pipe dream, Foreign Policy underlines. Construction on the gas line has yet to begin, and a previous pipeline, called South Stream, was canceled in 2014 because it ran afoul of European regulations.
“I would be very skeptical that this plan is going to work,” Vessela Tcherneva, an energy expert and director of the Wider Europe program at the European Council on Foreign Relations, told Foreign Policy on Friday.
“I would put it in the category of Greece needing to show it has alternatives, and Russia wanting to demonstrate its ability to divide the EU.”
Angela Merkel did not hide her hurted feelings, even after the Monday June 22 eurosummit, where she was expected to appear to the world as a uniting and solidarity expressing leader , not just of Germany, but of eurozone as a whole. The European Solidarity Principle was only expressed on statements after the summit by President Franscis Hollande
. A "sour " comment was presented by the fake Twitter account that is created under Angela Merkel name on twitter .
Angela Merkel @Queen_Europe 13h13 hours ago
Greece, thank you for your new proposal. Next time, please send a new finance minister as well.
Do you want us or not? Christine Lagarde asked in the summit the Greeks
After she had straightly offended Yianis Varoufakis on the last Euroroup, asking for "Adults in the room", Christine Lagarde asked the Greek team, and PM Alexis Tsipras, "if they want to keep this relationship".
Tsipras asnwered "Yes we do", but without loosing the chance to emphasize in front of everyone else's eyes, that "we would be pleased if you would bring back, also, the rest of your proposals, concernign let's say the dept restructure..."
The last Eurogroup of the previous week obviously ended up as the perfect fiasco, as Greeks later heard. This is the word Greeks only use,we thought, on their daily conversations. Now the world starting using is as well.
Is really the Greek truth unfolding itself in the worlds' eyes ? It is suh a fiasco, we, Greeks have found so far out, it is difficult to be unveiled.
But Bloomberg View columnist Clive Crook, sheds light today ,and we thank him, on the other view of Greek drama, Grexit and Greek dept. to the Greek fasco. He pionts to two articles, among them:
IMF Managing Director Christine Lagarde has the nerve to call for "adults in the room," as though she finds this all rather trying and her patience is finally wearing thin, wrote Karl Whelan, a professor of economics at University College Dublin, who crisply explains, wrote Clive Crook, why it's wrong to blame Greek Prime Minister Alexis Tsipras and Syriza for the mess.
[S]he seems to have forgotten that the IMF were supposed to be the adults in the room for discussions on Greece from 2010 onwards. But rather than adopt an approach consistent with their usual policies, the European-led IMF decided that European countries deserved the opportunity to be saddled with particularly high burdens of debt to the official sector.
Europe, it turns out, has gained very little from European influence at the top of the IMF. The rest of the world should learn from the Greek fiasco that former European politicians can no longer be trusted with the leadership of this crucial institution.
Bloomberg View @BV 49m49 minutes ago
Even the IMF's own research suggests it's wrong on Greece
Yianis once more, presented as ridiculus again...
Again Yianis Varoufakis was presented by the Europeans as non-professional, having Again brought just himself at the Eurogroup and not any proposals. He answed online acutely himself, once again, posting the Greek proposals on his personal blog and calling the world to judge them.
Over the Weekend that followed June 20-21, Yianis Varoufakis, Greece's Finance Minister, stated openly to the international press, that his German counterpart Wolfgang Schauble DID NOT ACCEPT at all not even to let the Greek proposal to be heard at the last Luxenbourg eurogroup.
I was not allowed to share with Mr Noonan, or indeed with any other finance minister, our written proposals. In fact, as our German counterpart was later to confirm, any written submission to a finance minister by either Greece or the institutions was “unacceptable”, as he would then need to table it at the Bundestag, thus negating its utility as a negotiating bid.
Regrettably, my presentation was met with deafening silence. Excepting Michael Noonan’s apt remark, all other interventions ignored our proposals and reiterated the frustration of ministers that Greece had . . . no proposals.
So much we didn't know the IMF knew, so much as we would not know ....
Panayiotis Roumeliotis, Greece’s former envoy to the IMF during the critical years of IMF memorandum, said on the public hearing before the "Debt Truth" Committee in the Greek Parliament on Monday June 17, that according to official IMF report, Greece’s debt was “quite possibly not sustainable” and so its board had to change its Statute to be able to fund the country.
“They made wrong calculations and overly optimistic estimations,” Roumeliotis told the committee, adding that “responsibility weights not only on our country, which didn’t do what should have been done, but also our partners.”
“If debt restructuring had taken place then [in May 2010], the ‘haircut’ needed would be just 30 pct … which would provide some breathing space to the Greek economy and wouldn’t require a violent fiscal adjustment,” he added.
" But there were secret meetings on that period of 2010, Panagioti Rouleotis revealed, between Germany's and France's top Banking Heads and the IMF, in order to delay Greece's debt restructuring, as it was oficially revealed by then to the IMF executives, Roumeliotis said , so as the two countries' Banking economy to be saved, but not Greece's economy, at all"...
The recent Mindblow of those IMF Propaganda fellowships
Responding to a query made by Deputy Minister of State for Coordinating Government Operations Terence Spencer Quick, after Roumeliotis revelations, the spokesman for the International Monetary Fund, Gerry Rice admitted over the weekend -before Greece's most critical day, Monday June 22, that the IMF had sponsored Greek journalists' sponsoriships, of which the public opinion would have never been aware, if the Dept Truth Parliameary Committe has not been composed. This has been realized of course only by Alexis Tsipra government, the previous ones were not interested even to think of it, even though the opposition, during their reignance, was repeatedly asking for it in Parliament between 2010-2014.
"the Fund has not held seminars for Greek journalists" said the IMF spokesman on June 19, though “only two journalists from Greece” have attended the fellowship program since 2006 that allows “small groups of journalists” to attend the IMF’s spring and annual meetings
Panagiotis Roumeliotis, who has left breathless the Greek and international audience after his live( and on tv air, live) testimony to the Parliamentary "Dept Truth" Commitee had described the training programs of the IMF to journalists as seminars.
In the letter in response to Quick, Gerry Rice said the IMF had sponsored those fellowships, but all was just that.
Quick called on those two journalists to speak up and asked the Athens and Greek journalists’ associations, ESIEA and POESY, to reveal whether the IMF has asked them to send out reporters for interest in the Fund’s sponsored programs.
Deputy Minister of State for Coordinating Government Operations Terence Spencer Quick, with Ethedy at Acropolis Museum, Athens, where she spoke on Human Rights, June 10, 2015
On 2012 President Obama chose Ethel Kennedy to receive the Medal of Freedom, the nation’s highest civilian honor.
What is true and what is lie?
Of course everyone is still blaming the Greeks and pretending that the creditor side is honest, coherent and reasonable, unlike the Greeks. Coherent, it clearly isn’t. And the systematic use of leaks to influence public opinion is hardly an honest way of negotiating. But reasonable?
In yet another astonishing reversal, the firebrand Greek finance minister Yanis Varoufakis has suddenly become the voice of sweet reason. “The only antidote to propaganda and malicious ‘leaks’ is transparency,”, Frances Coppola on Forbes underlined ,from his personal blogpost where Greek Finance Minister had to present the Greek proposal to prove it was not fake, not the fiasco, but real ...
"I admire the position Greece has taken "
" I admire Greece for the position it has taken, that Europe has to change...." said bravely James Kenneth Galbraith an American economist who writes frequently for the popular press on economic topics, a professor at the Lyndon B. Johnson School of Public Affairs and at the Department of Government, University of Texas at Austin.Galbraith is also a Senior Scholar with the Levy Economics Institute of Bard College and part of the executive committee of the World Economics Association, created in 2011.Listen to his interview on the video above
Bottom line , what is saved for the Greeks?
"Government's constant efforts to defend Greece's interests and to reach a mutually satisfactory deal are what define the possibilities for an agreement," Labour Minister Panos Skourletis stated on VIMA FM on Monday.
Skourletis said that "we have reached a point that the European political authority must show on its part that it understands the importance of the moment. We’ve said many times that the impasse is not only for the one side but for both sides. I believe that this will lead to more mature thoughts and to a mutually beneficial agreement. Yes, common sense will prevail."
In response to the questions on social security and pension, Labour Minister said "there will be no cutbacks neither on supplementary nor on main pensions. That is, I believe, our basic and constant opinion and we consider it a fact at least in terms of our intentions."
Regarding the participation of the IMF, Skourletis noted "deadlines exist, but you are aware that they can be extended."