Evaporating Complacency: The Greece Fulcrum Is Forcing Rapid & Immediate Decisions

[I will attempt to avoid my additional alternative commentary as this post is already lengthy with the simple display of News-media coverage of the current institutional activities. Yet, I caution readers that the News reports are deceptive. The BRICS are gathering in Ufa, Russia on 9 July 2015 for their seventh annual Summit.
Meanwhile, European summit has some reporters commenting that they will decide whether Greece gets another bailout or leaves the eurozone. I question if institutions move too rapidly and too forcefully the citizens could rebel.
My comments are in brackets. Read comments section.


The Lesson for the World Coming from Greece


All mainstream news is painting the Greeks as the bad guys and the Troika as the savior of Europe. Quite frankly, it is really disgusting. Pictures of an elderly Greek pensioner have gone viral depicting what the Troika is deliberately doing to the Greek people trying to punish them for their own failed design of the Euro in a system that is just economically unsustainable.

The heartbreaking photographs of a 77-year-old retiree Giorgos Chatzifotiadis pensioner showing he has just collapsed on the ground openly in tears driven to despair outside a Greek bank with his savings book and identity card strewn next to him on the ground illustrates the horror the Troika is deliberately trying to inflict upon the Greek population.

This image illustrates the core of the issue of how ordinary Greeks are being tormented by EU politicians who pretend to care about people. This is not a Greek debt crisis, this is a Euro Crisis and they refuse to admit that what they designed was solely for the takeover of Europe at the cost of the future of everyone from pensioners to the youth.



Mr Chatzifotiadis had queued up at three banks in Greece’s second city of Thessaloniki on Friday in the hope of withdrawing a pension on behalf of his wife. When he went to a fourth bank and was told he could not withdraw his 120 euros ($180), the ordeal simply became too much as he fell down in tears in total desperation. His comments were simply that he “cannot stand to see my country in this distress”. “That’s why I feel so beaten, more than for my own personal problems,” he said.

This is just the tip of the iceberg. We are facing terrible times ahead because socialism is completely collapsing. Government employees have lined their pockets and this is precisely the end game how Rome collapsed. It was not the barbarians at the gate. It was the the Roman army was not paid and they began hailing their various generals as emperor and the attacked cities who did not support their choice sacking their own people. Only after weakening themselves, then the barbarians came in for easy pickings. If Russia really wants to take Europe, all they have to do is be patient. They will self-destruct for the Troika cannot see any change in thinking for that means they must admit that they were wrong from the outset.

Keep in mind, do not have all your money in one place. Keep a stock of cash outside the bank. Cash is recognizable for daily transactions for now.

Greece can join BRICS as growing economy_07July2015 Summit[07 July 2015 = 7, 7, 2015]

Greece Can Join BRICS as a Growing Economy – Official

Greece can join the BRICS if its economy starts growing fast, the head the Russian Chamber of Commerce and Industry, Sergei Katyrin, said on Tuesday, adding that the Greeks’ desire to join in was an important factor.

The world’s four main emerging economic powers, known by the acronym BRIC, standing for Brazil, Russia, India and China, now refer to themselves as BRICS after South Africa joined the four on December 24, 2010.

According to the EU’s statistics office, Eurostat, Greece’s economy exited recession from the first quarter of 2014, recording a feeble 0.8 percent growth to reach 179 billion euros in the first such uptick in five years.

Meanwhile, the country’s sovereign debt stands at a whopping 300 billion.

Greek Prime Minister Alexis Tsipras has called for the country’s creditors — a group that includes the European Central Bank, other European Union countries and the International Monetary Fund — to line up further financial support and to forgive about one-third of the nation’s debt.

The creditors are ready to help out but they demand the implementation of a string of hard-hitting austerity measures in exchange for rescue money.

The Greek government then put the matter to a nationwide referendum, but more than 61 percent of those who voted on Sunday said a resounding “no” to the creditors’ demands for more austerity to keep aid flowing.

Source: http://sputniknews.com/europe/20150707/1024309291.html


Euro Summit on Greece Bailout: Statements – 07 July 2015


Your moment has come, Mr Tsipras, take back control of your country -UKIP leader Nigel Farage

Video posted 08 July 2015


Tsipras given standing ovation by supporters in European Parliament

Video posted 08 July 2015
Greek Prime Minister Alexis Tsipras entered the European Parliament Plenary session in Strasbourg, Wednesday, to a round of applause and a standing ovation by his supporters and sympathisers.

SOT, Alexis Tsipras, Greek Prime Minister (in Greek): “We have now been given a mandate to redouble our efforts in order to get a socially just and economically sustainable solution to the Greek problem without repeating the mistakes of the past, which condemned the Greek economy to a period of never ending and an impasse of austerity which trapped our economy in a recessionary vicious circle.”

SOT, Alexis Tsipras, Greek Prime Minister (Greek): “Today we come with a strong mandate from the Greek people and we are determined not to clash with Europe, but to tackle head-on the establishment in our country and to change the mindset which have taken us and taken Europe down.”


German MEP Weber booed after blasting Tsipras in European Parliament

Video posted 08 July 2015
SOT, Manfred Weber, German MEP (in German): “To be honest, I am grateful to the applause because it shows who is part of the extremist forces here and who wants to destroy Europe.”

SOT, Manfred Weber, German MEP in (in German): “You, Mr Tsipras, like provocation, we like compromises. You like to fail, we like success. You divide Europe and we love Europe. I hope that you get back to reason and present a programme eventually. Thank you.”

German MEP Manfred Weber attacked Greek leader Alexis Tsipras in Strasbourg on Wednesday, branding Syriza an “extremist” force that seeks to “destroy” Europe.

[Transiting to the New Multipolar World Order is a tricky and discreet operation…
The great challenge for the Hellenic (Greece) government is to coexist within the international monetary system of control…
Bluntly stated, that means Greece either remain within the E.U. or have the E.U. bless the Grexit with a new debt partner (Russian Federation or BRICS), and note the fallout with NATO/U.S. geopolitics. Shall we leave the discussions about the BRICS NDB for another time as the BRICS need to focus on opening their new development bank doors on a solid foundation of funds prior to making official loans to urgent cases such as Greece.
Some questions have already been answered, Tsipras is (publicly) seeking E.U. banking aid to remain in the E.U.; behind “closed doors” something is always discreetly taking place without the public knowledge
.  ~Ron]


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32 comments on “Evaporating Complacency: The Greece Fulcrum Is Forcing Rapid & Immediate Decisions
  1. RonMamita says:

    The Euro creditors are ruthless loan sharks!

    Sadly, the Greek citizens took 5 years to understand that clear message…

    It saddens me to tears to see that citizens believe in the deceptive institutions (governments, religions,banks, etc.) and refuse to research the institutional conspiracy evidence and factual documents to at least make more informed decisions and better emergency preparedness plans.

    *Old men and women falling down in despair is not a pretty sight!
    *Long lines to the ATM machines is not a pretty sight!
    *Empty food shelves is not a pretty sight!
    *Citizens demonstrating in front of government buildings to be attacked by police is not a pretty sight!

    All of that could be avoided!
    Every family and community should have a detailed discussion about crises and emergency preparedness.
    Bank closings/holiday; “State of Emergency”; exchange market crashes all should be expected and no longer a reason to panic or be caught by surprise.

    Indeed the politicians and executives often lie and deceive in front of your face, they are untrustworthy.

    Question everything and be prepared.

    Returning to my earliest comments in the blog-post, I stated “if institutions move too rapidly and too forcefully the citizens could rebel.” True, but let us not overlook a similar possibility, such as a staged coup, as in political assassination. One or two murders would collapse the Greek coalition government and the E.U. technocrats would swoop in to protect the Eurozone. Or that move could fail, remember we saw many versions of this, thus Russian sympathisers in the Greek coalition government could pre-empt the technocrats and call for emergency aid and assistance from the Russian federation and BRICS NDB…

    The awareness and alertness I am asking of us all is to be not surprised by sudden emergencies as these institutional-gangs war over their turfs and implement their NWO multipolar international monetary reset system.
    The public is now, sadly, aware of color revolutions.
    Geopolitics is a institutional deadly game.
    I foresee BRICS gaining additional power and members in my forecasts because currently BRICS are too weak and the plan is for their (BRICS) respective zones to be under more stable command. Russia plays the larger role in that shuffle, and Greece joining Russia appears to be the plan…

    Ultimatum: Greece Has Until Sunday 12 July 2015 for GREXIT or Collapse!

    Below is one gentleman’s video who has a critical eye and awareness that the officials and executives are deceiving the citizens. Even, if he draws some wrong conclusions he has one thing correct:
    Take your assets out of the banks!

    Below is Gerald Celente:

    Tsipras and Syriza officials’ lives and families could have been threatened?

    PhD. Paul Craig Roberts says rumour is Tsipras and Greece were coerced and threatened to remain in the E.U….
    Read: http://kingworldnews.com/paul-craig-roberts-a-shocking-behind-the-scenes-look-at-what-is-now-unfolding-in-greece/
    and audio:

    My guess is that for the near term Greece will remain in the E.U. but citizens’ unrest will continue to mount.
    2016 and 2017 should reveal the full power and financial backing behind the rise of the BRICS and the Russian Federation – China Agreement for an Eastern-Europe-Asian free trade zone.

    However, the solution is NOT to jump in bed with the eastern (Russian and Chinese) oligarchs! NOT to jump in bed with the BRICS oligarchs!
    Collectively the central banks want to reset their international monetary system, and sure they offer a deceptively slight lift of a few burdens in a limited way for a limited time, but it is the same fraudulent debt bondage system that will keep children and future generations enslaved to institutional governance and subjugation to burdensome debt and suffering. The current system of fraud and abuse must be abolished.

    Recall the support from the U.S. Federal Reserve [banking] system, the Bank of England, the Bank of Japan, the Swiss National Bank, and the ECB. I think I recall China promising support (does that mean the PBOC loaned money too?…
    and still the E.U. face a crisis, a unstable economy, along with the rest of the world in the same situation.

    The alternative solution is to implement alternative community currencies, to stop governments’ authority and subjugation of citizens. Crimes and abuse from institutions and regulators is the reality that is enslaving the citizens and enriching the members of elite clubs and secret societies.


  2. RonMamita says:

    The ECB and Eurogroup Message is Clear: Greece Government Must Surrender and Meet Creditors Demands or Grexit!

    The Euro creditors are ruthless loan sharks!
    Sadly, the Greek citizens took 5 years to understand that clear message…

    Now, ask have the moles and traitors (or blackmailed and life threatened) politicians been identified?
    If not, then do not be surprised if the government does surrender even against the will of the People!
    Of course that would mean a collapse of the current coalition government, and wouldn’t that make the creditors happy…

    Syriza MP: It’s Time to Take Over the Banks 1/2

    Below are part one and two videos in a series that forecast an agreement will be reached.
    [I think that is likely but it will not be a good solution for the citizens.]

    Posted 06 July 2015
    Paul Jay discusses the results of the Greek referendum with Costas Lapavitsas and asks whether Syria was prepared for this moment

    Syriza MP: It’s Time to Take Over the Banks 2/2

    New Greek Finance Minister a Change in Style, Not Substance


    • RonMamita says:

      News Reports Claim Balkans At Risk of Collapse If Greece Falls

      How financial contagion could begin tearing through the Balkans

      There is a saying in the Balkans: “Indebted like Greece.” The expression is believed to have originated in the 19th century, when the south-east of Europe was engulfed in wars and poverty. It has taken on new significance since Greece’s financial crisis worsened.

      Millions of people in Serbia, Albania, Bulgaria, Macedonia and Romania have their deposits in Greek bank subsidiaries in their own countries, putting the Balkans on the front line of the crisis.

      • BULGARIA – It is the most exposed to the Greek crisis, with Greek lenders accounting for about 23 per cent of its banking system. Should Greek banks collapse, they could take the deposits and savings of its customers with them. The Bulgarian government might also have to intervene to rescue them. Some 7 per cent of its exports go to Greece.

      • MACEDONIA – It has introduced capital controls to stem outflows of money to Greece from subsidiaries in Macedonia. Two Greek banks in Macedonia represent 22 per cent of total bank assets in the country. The central bank has ordered Macedonian banks to withdraw all loans and deposits from banks based in Greece. The regulator also temporarily banned the country’s residents from investing in Greek securities.

      • SERBIA – It has also limited the amount of money Greek banks can send back to their parent companies in Greece. The Serbian central bank said the Greek banks have adequate liquidity and reserves, which “can be used in situations where bad news can cause unnecessary negative consequences and psychological stress”. Serbia, however, has relatively high public debt and fiscal deficit, meaning it could run into trouble if it had to bail out Greek-owned banks in Serbia.

      • ALBANIA – Three out of 16 commercial banks operating in Albania are Greek. Albanian authorities have assured depositors they should fear nothing from the Greek crisis. But it would also struggle to rescue any Greek bank subsidiaries and could suffer from weaker trade ties. Sherefedin Shehu, former deputy finance minister, warned more trouble in Greece would cause Albania’s economic growth to fall.

      • ROMANIA – There are four Greek-owned banks in Romania and they own 12 per cent of the overall market. Two of them are among the top ten banks in terms of size. Romanian National Bank Governor Mugur Isarescu said the banks could weather unfavourable developments and had a high level of solvability.

      Read: http://www.scotsman.com/news/politics/top-stories/eurozone-anger-as-greece-arrives-without-plan-1-3824448


  3. RonMamita says:

    The Inevitable Grexit and Banking Collapse

    Video posted 09 July 2015
    “Dimitri Lascaris Report: Credibility of Prime Minister Alexis Tsipras is hanging by a thread, in the meantime 15 out of 18 European governments support ousting Greece from the Eurozone

    * OK, carry Mr. Dimitri Lascaris guesses further:
    Former FinMin Yanis saw Tsipras’ deception, and left in disgust, now Syriza and Tsipras must carry out their deception. Something along the lines of accepting a watered down version of austerity and kicking the can down the road for a few more months?
    Will the Greek citizens be outraged?
    Will a coup or social unrest result?

    I will not be surprised at anything, including if assassinations occur and the Syriza coalition government collapse… ~Ron


  4. It’s impossible to be a “leftist” in this day in age without putting your life on the line. Surely the Syriza leadership knew this when they accepted power. Being a leftist is always about dying on your feet rather than living on your knees. As Eugene Levine stated just before he was executed, “We communists are all dead men on leave.”


    • RonMamita says:

      There are likely some ideologues in the Syriza party, but Tsipras doesn’t appear to be one (if he is he successfully deceived many); how Tsipras gained the leadership of Syriza should be a interesting story!

      However, more importantly are the wealthy supporters (gangsters aka oligarchs supporting) for Syriza political party – if as you say they are a few have put lives on the line – then can we expect some lives to be forfeited?

      Again I will not be surprised by any eventuality.
      Remain alert and share your information with everyone and hopefully the People become more aware and prepared to create local alternative solutions as the institutions continue down their destructive path in their geopolitical game.


    • RonMamita says:

      The Bank Closures Extends Until Monday…

      The Tsipras government is a coalition, we are told, of moderates and radicals (those who want to issue Greek currency, those who want to join Russia, and what do you call those who wish to remain in the eurozone but without austerity?) This morning Tsipras has opened the cage-doors and released the snarling hounds…

      By accepting the eurozone austerity demands, he surrendered to Brussels against the will of the Greek citizens, as we here are not surprised.
      Now the conspiracy plot calls for a timeline or a event-line for Greece to not collapse the markets before September 2015 and then afterwards to join the Russian federation and BRICS zone structure. Will political assassinations be carried out?
      I think assassinations (sudden deaths) are a high probability.


  5. RonMamita says:

    Tsipras has just destroyed Greece

    Greek chaos has reached a whole new level this morning with the release of its proposed compromises with the Eurozone. Here is the text in full:

    Policy Commitments and Actions to be taken in consultation with EC/ECB/IMF staff:

    1. 2015 supplementary budget and 2016-19 MTFS

    Adopt effective as of July 1, 2015 a supplementary 2015 budget and a 2016–19 medium-term fiscal strategy, supported by a sizable and credible package of measures. The new fiscal path is premised on a primary surplus target of (1, 2, 3), and 3.5 percent of GDP in 2015, 2016, 2017 and 2018. The package includes VAT reforms (¶2), other tax policy measures (¶3), pension reforms (¶4), public administration reforms (¶5), reforms addressing shortfalls in tax collection enforcement (¶6), and other parametric measures as specified below.

    2. VAT reform

    Adopt legislation to reform the VAT system that will be effective as of July 1, 2015. The reform will target a net revenue gain of 1 percent of GDP on an annual basis from parametric changes. The new VAT system will: (i) unify the rates at a standard 23 percent rate, which will include restaurants and catering, and a reduced 13 percent rate for basic food, energy, hotels, and water (excluding sewage), and a super-reduced rate of 6 percent for pharmaceuticals, books, and theater; (ii) streamline exemptions to broaden the base and raise the tax on insurance; and (iii) Eliminate discounts on islands, starting with the islands with higher incomes and which are the most popular tourist destinations, except the most remote ones. This will be completed by end-2016, as appropriate and targeted fiscally neutral measures to compensate those inhabitants that are most in need are determined. The new VAT rates on hotels and islands will be implemented from October 2015.

    The increase of the VAT rate described above may be reviewed at the end of 2016, provided that equivalent additional revenues are collected through measures taken against tax evasion and to improve collectability of VAT. Any decision to review and revise shall take place in consultation with the institutions.

    3. Fiscal structural measures

    Adopt legislation to:

    • close possibilities for income tax avoidance (e.g., tighten the definition of farmers), take measures to increase the corporate income tax in 2015 and require 100 percent advance payments for corporate income and gradually for individual business income tax by 2017; phase out the preferential tax treatment of farmers in the income tax code by 2017; raise the solidarity surcharge;
    • abolish subsidies for excise on diesel oil for farmers and better target eligibility to halve heating oil subsidies expenditure in the budget 2016;
    • in view of any revision of the zonal property values, adjust the property tax rates if necessary to safeguard the 2015 and 2016 property tax revenues at €2.65 billion and adjust the alternative minimum personal income taxation.
    • eliminate the cross-border withholding tax introduced by the installments act (law XXXX/2015) and reverse the recent amendments to the ITC in the public administration act (law XXXX/2015), including the special treatment of agricultural income.
    • adopt outstanding reforms on the codes on income tax, and tax procedures: introduce a new Criminal Law on Tax Evasion and Fraud to amend the Special Penal Law 2523/1997 and any other relevant legislation, and replace Article 55, ¶s 1 and 2, of the TPC, with a view, inter alia, to modernize and broaden the definition of tax fraud and evasion to all taxes; abolish all Code of Book and Records fines, including those levied under law 2523/1997 develop the tax framework for collective investment vehicles and their participants consistently with the ITC and in line with best practices in the EU.
    • adopt legislation to upgrade the organic budget law to: (i) introduce a framework for independent agencies; (ii) phase out ex-ante audits of the Hellenic Court of Auditors and account officers (ypologos); (iii) give GDFSs exclusive financial service capacity and GAO powers to oversee public sector finances; and (iv) phase out fiscal audit offices by January 2017.
    • increase the rate of the tonnage tax and phase out special tax treatments of the shipping industry.

    By September 2015, (i) simplify the personal income tax credit schedule; (ii) re-design and integrate into the ITC the solidarity surcharge for income of 2016 to more effectively achieve progressivity in the income tax system; (iii) issue a circular on fines to ensure the comprehensive and consistent application of the TPC; (iv) and other remaining reforms as specified in ¶9 of the IMF Country Report No. 14/151.

    On health care, effective as of July 1, 2015, (i) re-establish full INN prescription, without exceptions, (ii) reduce as a first step the price of all off-patent drugs to 50 percent and all generics to 32.5 percent of the patent price, by repealing the grandfathering clause for medicines already in the market in 2012, and (iii)) review and limit the prices of diagnostic tests to bring structural spending in line with claw back targets; and (iv) collect in the full the 2014 clawback for private clinics, diagnostics and pharmaceuticals, and extend their 2015 clawback ceilings to 2016.

    Launch the Social Welfare Review under the agreed terms of reference with the technical assistance of the World Bank to target savings of ½ percent of GDP which can help finance a fiscally neutral gradual roll-out of the GMI in January 2016.

    Adopt legislation to:

    • reduce the expenditure ceiling for military spending by €100 million in 2015 and by €200 million in 2016 with a targeted set of actions, including a reduction in headcount and procurement;
    • introduce reform of the income tax code, [inter alia covering capital taxation], investment vehicles, farmers and the self- employed, etc.;
    • raise the corporate tax rate from 26% to 28%;
    • introduce tax on television advertisements;
    • announce international public tender for the acquisition of television licenses and usage related fees of relevant frequencies; and
    • extend implementation of luxury tax on recreational vessels in excess of 5 meters and increase the rate from 10% to 13%, coming into effect from the collection of 2014 income taxes and beyond;
    • extend Gross Gaming Revenues (GGR) taxation of 30% on VLT games expected to be installed at second half of 2015 and 2016;
    • generate revenues through the issuance of 4G and 5G licenses.
    • We will consider some compensating measures, in case of fiscal shortfalls: (i) Increase the tax rate to income for rents, for annual incomes below €12,000 to 15% (from 11%) with an additional revenue of €160 million and for annual incomes above €12,000 to 35% (from 33%) with an additional revenue of €40 million; (ii) the corporate income tax will increase by an additional percentage point (i.e. from 28% to 29%) that will result in additional revenues of €130 million.

    4. Pension reform

    The Authorities recognise that the pension system is unsustainable and needs fundamental reforms. This is why they will implement in full the 2010 pension reform law (3863/2010), and implement in full or replace/adjust the sustainability factors for supplementary and lump-sum pensions from the 2012 reform as a part of the new pension reform in October 2015 to achieve equivalent savings and take further steps to improve the pension system.

    Effective from July 1, 2015 the authorities will phase-in reforms that would deliver estimated permanent savings of ¼-½ percent of GDP in 2015 and 1 percent of GDP on a full year basis in 2016 and thereafter by adopting legislation to:

    • create strong disincentives to early retirement, including the adjustment of early retirement penalties, and through a gradual elimination of grandfathering to statutory retirement age and early retirement pathways progressively adapting to the limit of statutory retirement age of 67 years, or 62 and 40 years of contributions by 2022, applicable for all those retiring (except arduous professions, and mothers with children with disability) with immediate application;
    • adopt legislation so that withdrawals from the Social Insurance Fund will incur an annual penalty, for those affected by the extension of the retirement age period, equivalent to 10 percent on top of the current penalty of 6 percent;
    • integrate into ETEA all supplementary pension funds and ensure that, starting January 1, 2015, all supplementary pension funds are only financed by own contributions;
    • better target social pensions by increasing OGA uninsured pension;
    • Gradually phase out the solidarity grant (EKAS) for all pensioners by end-December 2019. This shall be legislated immediately and shall start as regards the top 20% of beneficiaries in March 2016 with the modalities of the phase out to be agreed with the institutions;
    • freeze monthly guaranteed contributory pension limits in nominal terms until 2021;
    • provide to people retiring after 30 June 2015 the basic, guaranteed contributory, and means tested pensions only at the attainment of the statutory normal retirement age of currently 67 years;
    • increase the health contributions for pensioners from 4% to 6% on average and extend it to supplementary pensions;
    • phase out all state-financed exemptions and harmonize contribution rules for all pension funds with the structure of contributions to IKA from 1 July 2015;

    Moreover, in order to restore the sustainability of the pension system, the authorities will by 31 October 2015, legislate further reforms to take effect from 1 January 2016; (i) specific design and parametric improvements to establish a closer link between contributions and benefits; (ii) broaden and modernize the contribution and pension base for all self-employed, including by switching from notional to actual income, subject to minimum required contribution rules; (iii) revise and rationalize all different systems of basic, guaranteed contributory and means tested pension components, taking into account incentives to work and contribute; (iv) the main elements of a comprehensive SSFs consolidation, including any remaining harmonization of contribution and benefit payment rules and procedures across all funds; (v) abolish all nuisance charges financing pensions and offset by reducing benefits or increasing contributions in specific funds to take effect from 31 October 2015; and (vi) harmonize pension benefit rules of the agricultural fund (OGA) with the rest of the pension system in a pro rata manner, unless OGA is merged into other funds. The consolidation of social insurance funds will take place by end 2017. In 2015, the process will be activated through legislation to consolidate the social insurance funds under a single entity and the operational consolidation will have been completed by 31 December 2016. Further reductions in the operating costs and a more effective management of fund resources including improved balancing of needs between better-off and poorer-off funds will be actively encouraged.

    The authorities will adopt legislation to fully offset the fiscal effects of the implementation of court rulings on the 2012 pension reform.

    In parallel to the reform of the pension system, a Social Welfare Review will be carried out to ensure fairness of the various reforms.

    The institutions are prepared to take into account other parametric measures within the pension system of equivalent effect to replace some of the measures mentioned above, taking into account their impact on growth, and provided that such measures are presented to the institutions during the design phase and are sufficiently concrete and quantifiable, and in the absence of this the default option is what is specified above.

    5. Public Administration, Justice and Anti Corruption

    Adopt legislation to:

    • reform the unified wage grid, effective 1 January, 2016, setting the key parameters in a fiscally neutral manner and consistent with the agreed wage bill targets and with comprehensive application across the public sector, including decompressing the wage distribution across the wage spectrumin connection with the skill, performance and responsibility of staff. (The authorities will also adopt legislation to rationalise the specialised wage grids, by end-November 2015);
    • align non-wage benefits such as leave arrangements, per diems, travel allowances and perks, with best practices in the EU, effective 1 January 2016;
    • establish within the new MTFS ceilings for the wage bill and the level of public employment consistent with achieving the fiscal targets and ensuring a declining path of the wage bill relative to GDP until 2019;
    • hire managers and assess performance of all employees (with the aim to complete the hiring of new managers by 31 December 2015 subsequent to a review process)
    • introduce a new permanent mobility scheme applied by Q4 2015. The scheme will promote the use of job description and will be linked with an online database that will include all current vacancies. Final decision on employee mobility will be taken by each service concerned. This will rationalize the allocation of resources as well as the staffing across the General Government.
    • reform the Civil Procedure Code, in line with previous agreements; introduce measures to reduce the backlog of cases in administrative courts; work closely with European institutions and technical assistance on e-justice, mediation and judicial statistics
    • strengthen the governance of ELSTAT. It shall cover (i) the role and structure of the Advisory bodies of the Hellenic Statistical System, including the recasting of the Council of ELSS to an advisory Committee of the ELSS, and the role of the Good Practice Advisory Committee (GPAC); (ii) the recruitment procedure for the President of ELSTAT, to ensure that a President of the highest professional calibre is recruited, following transparent procedures and selection criteria; (iii) the involvement of ELSTAT as appropriate in any legislative or other legal proposal pertaining to any statistical matter; (iv) other issues that impact the independence of ELSTAT, including financial autonomy, the empowerment of ELSTAT to reallocate existing permanent posts and to hire staff where it is needed and to hire specialised scientific personnel, and the classification of the institution as a fiscal policy body in the recent law 4270/2014; role and powers of Bank of Greece in statistics in line with European legislation.
    • Publish a revised Strategic Plan against Corruption by 31 July 2015. Amend and implement the legal framework for the declaration of assets and financing of the political parties and adopt legislation insulating financial crime and anti-corruption investigations from political intervention in individual cases.

    Moreover, in collaboration with the OECD, the Authorities will:

    • Strengthen controls in public entities and especially SOEs. Empower the Line Ministries to perform robust audit and control inspections to supervised entities including SOEs.
    • Strengthen controls and internal audit processes in high spending Local Government Institutions and their supervised legal entities.
    • Strengthen controls in public and private investment cases funded either by national or co-funded by other sources, public works and public procurement (e.g. in health sector, SDIT).
    • Strengthen transparency and control processes and skills in tax and customs authorities.
    • Assess major risks in the public procurement cycle, taking in consideration the recent developments (Central Purchasing and e-Procurement: KHMDHS and ESHDHS) and the need to have a clear governance framework. Develop strategy according to the assessment(Q4 2015)
    • Implement strategy to mitigate public procurement risks.(Q1 2016)
    • Assess 2 specific sectors, Health and Public Works in order to understand the existing constrains related to corruption and waste risks and propose measures to address them. Develop and implement strategy. (Q4 2015)

    6. Tax administration

    Take the following actions to:

    • Adopt legislation to establish an autonomous revenue agency, that specifies: (i) the agency’s legal form, organization, status, and scope; (ii) the powers and functions of the CEO and the independent Board of Governors; (iii) the relationship to the Minister of Finance and other government entities; (iv) the agency’s human resource flexibility and relationship to the civil service; (v) budget autonomy, with own GDFS and a new funding formula to align incentives with revenue collection and guarantee budget predictability and flexibility; (vi) reporting to the government and parliament; and (vii) the immediate transfer of all tax- and customs-related capacities and duties and all tax- and customs-related staff in SDOE and other entities to the agency.
    • on garnishments, adopt legislation to eliminate the 25 percent ceiling on wages and pensions and lower all thresholds of €1,500 while ensuring in all cases reasonable living conditions; accelerate procurement of IT infrastructure to automatize e-garnishment; improve tax debt write-off rules; remove tax officers’ personal liabilities for not pursuing old debt; remove restrictions on conducting audits of tax returns from 2012 subject to the external tax certificate scheme; and enforce if legally possible upfront payment collection in tax disputes.
    • amend (i) the 2014–15 tax and SSC debt instalment schemes to exclude those who fail to pay current obligations and introduce a requirement for the tax and social security administrations to shorten the duration for those with the capacity to pay earlier and introduce market-based interest rates; the LDU and KEAO will assess by September 2015 the large debtors with tax and SSC debt exceeding €1 million (e.g. verify their capacity to pay and take corrective action) and (ii) the basic instalment scheme/TPC to adjust the market-based interest rates and suspend until end-2017 third-party verification and bank guarantee requirements.
    • adopt legislation to accelerate de-registration procedures and limit VAT re-registration to protect VAT revenues and accelerate procurement of network analysis software; and provide the Presidential Decree needed for the significantly strengthening the reorganisation of the VAT enforcement section in order to strengthen VAT enforcement and combat VAT carousel fraud. The authorities will submit an application to the EU VAT Committee and prepare an assessment of the implication of an increase in the VAT threshold to €25.000.
    • combat fuel smuggling, via legislative measures for locating storage tanks (fixed or mobile);
    • Produce a comprehensive plan with technical assistance for combating tax evasion which includes (i) identification of undeclared deposits by checking bank transactions in banking institutions in Greece or abroad, (ii) introduction of a voluntary disclosure program with appropriate sanctions, incentives and verification procedures, consistent with international best practice, and without any amnesty provisions (iii) request from EU member states to provide data on asset ownership and acquisition by Greek citizens, (iv) renew the request for technical assistance in tax administration and make full use of the resource in capacity building, (v) establish a wealth registry to improve monitoring.
    • develop a costed plan for the promotion of the use of electronic payments, making use of the EU Structural and Investment Fund;
    • Create a time series database to monitor the balance sheets of parent-subsisdiary companies to improve risk analysis criteria for transfer pricing

    7. Financial sector

    Adopt: (i) amendments to the corporate and household insolvency laws including to cover all debtors and bring the corporate insolvency law in line with the OCW law; (ii) amendments to the household insolvency law to introduce a mechanism to separate strategic defaulters from good faith debtors as well as simplify and strengthen the procedures and introduce measures to address the large backlog of cases; (iii) amendments to improve immediately the judicial framework for corporate and household insolvency matters; (iv) legislation to establish a regulated profession of insolvency administrators, not restricted to any specific profession and in line with good cross-country experience; (v) a comprehensive strategy for the financial system: this strategy will build on the strategy document from 2013, taking into account the new environment and conditions of the financial system and with a view of returning the banks in private ownership by attracting international strategic investors and to achieve a sustainable funding model over the medium term; and (vi) a holistic NPL resolution strategy, prepared with the help of a strategic consultant.

    8. Labour market

    Launch a consultation process to review the whole range of existing labour market arrangements, taking into account best practices elsewhere in Europe. Further input to the consultation process described above will be provided by international organisations, including the ILO. The organization and timelines shall be drawn up in consultation with the institutions. In this context, legislation on a new system of collective bargaining should be ready by Q4 2015. The authorities will take actions to fight undeclared work in order to strengthen the competitiveness of legal companies and protect workers as well as tax and social security revenues.

    9. Product market

    Adopt legislation to

    • implement all pending recommendations of the OECD competition toolkit I, except OTC pharmaceutical products, starting with: tourist buses, truck licenses, code of conduct for traditional foodstuff, eurocodes on building materials, and all the OECD toolkit II recommendations on beverages and petroleum products;
    • In order to foster competition and increase consumer welfare immediately launch a new competition assessment, in collaboration and with the technical support of the OECD, on wholesale trade, construction, e-commerce and media. The assessment will be concluded by Q1 2016.The recommendations will be adopted by Q2 2016.
    • open the restricted professions of engineers, notaries, actuaries, and bailiffs and liberalize the market for tourist rentals ;
    • eliminate non-reciprocal nuisance charges and align the reciprocal nuisance charges to the services provided;
    • reduce red tape, including on horizontal licensing requirements of investments and on low-risk activities as recommended by the World Bank, and administrative burden of companies based on the OECD recommendations, and (ii) establish a committee for the inter-ministerial preparation of legislation. Technical assistance of the World Bank will be sought to implement the easing of licensing requirements.
    • design electronic one-stop shops for businesses through analysing information obligations businesses have to comply with, structuring them accordingly and helping to design a project on developing the necessary ICT tools and infrastructure (Q3 2015). Setting up the institutional & co-ordination structure, identification of the business life events to be included, identification and mapping of information obligations & administrative procedures and training of officials (Q4 2015). Launch (Q1 2016)
    • adopt the reform of the gas market and its specific roadmap, and implementation should follow suit.
    • take irreversible steps (including announcement of date for submission of binding offers) to privatize the electricity transmission company, ADMIE, or provide by October 2015 an alternative scheme, with equivalent results in terms of competition, in line with the best European practices to provide full ownership unbundling from PPC, while ensuring independence.

    On electricity markets, the authorities will reform the capacity payments system and other electricity market rules to avoid that some plants are forced to operate below their variable cost, and to prevent the netting of the arrears between PPC and market operator; set PPC tariffs based on costs, including replacement of the 20% discount for HV users with cost based tariffs; and notify NOME products to the European Commission. The authorities will also continue the implementation of the roadmap to the EU target model prepare a new framework for the support of renewable energies and for the implementation of energy efficiency and review energy taxation; the authorities will strengthen the electricity regulator’s financial and operational independence;

    10. Privatization

    • The Board of Directors of the Hellenic Republic Asset Development Fund will approve its Asset Development Plan which will include for privatisation all the assets under HRDAF as of 31/12/2014; and the Cabinet will endorse the plan.
    • To facilitate the completion of the tenders, the authorities will complete all government pending actions including those needed for the regional airports, TRAINOSE, Egnatia, the ports of Pireaus and Thessaloniki and Hellinikon (precise list in Technical Memorandum). This list of actions is updated regularly and the Government will ensure that all pending actions are timely implemented.
    • The government and HRADF will announce binding bid dates for Piraeus and Thessaloniki ports of no later than end-October 2015, and for TRAINOSE ROSCO, with no material changes in the terms of the tenders.
    • The government will transfer the state’s shares in OTE to the HRADF.
    • Take irreversible steps for the sale of the regional airports at the current terms with the winning bidder already selected.”

    This is basically the same proposal as that was just rejected by the Greek people in the referendum. There are some headlines floating around about proposed debt restructuring as well but I can’t find them.

    This makes absolutely no sense. The Tsipras Government has just:

    • renegotiated itself into the same position it was in two months ago;
    • set massively false expectations with the Greek public;
    • destroyed the Greek banking system, and
    • destroyed what was left of Greek political capital in EU.

    If this deal gets through the Greek Parliament, and it could given everyone other than the ruling party and Golden Dawn are in favour of austerity, then Greece has just destroyed itself to no purpose.

    Markets are drawing comfort from the roll over but how Tsipras can return home without being lynched by a mob is beyond me. And that raises the prospect of any deal being held immediately hostage to violence.



  6. RonMamita says:

    Too Bad Greek Pensioners and Taxpayers

    Citizens still have not faced the reality that CROOKS are making policy!
    When People decide to respond to criminals the solution will be reached.

    That man said: “what they do in Athens… make People slaves by the money.”

    Deadline Sunday for Greece:

    Robert Johnson of INET says odious debt and the fear of a bank contagion that could richochet across the world, keeps the financial sector from writing down the Greek debt

    Greece selling their valuable infrastructure to (crime lords) oligarchs


  7. RonMamita says:

    The Funny Money ‘Crisis’

    Nicely summarized:

    China BANS All Major Stock Sales for 6 Months!


  8. RonMamita says:

    Greek Govt Counts its Losses After Getting Vote of Approval on Proposals

    by Philip Chrysopoulos – Jul 11, 2015

    Greek Prime Minister Alexis Tsipras is assessing his political damages after “losing” 17 coalition Ministers and MPs who voted against or abstained in the crucial parliament vote on the Greek proposals to international creditors.

    It was no surprise that prominent extreme leftists in SYRIZA voted against or “present” when they had publicly announced prior to the vote that they do not approve the austerity measures that Tsipras proposed in order to achieve a new bailout agreement.

    The party’s Left Platform rejected pension cuts, spending cuts and tax hikes, claiming that the Greek people had already rejected them in last week’s referendum.

    Productive Reconstruction, Environment and Energy Minister Panagiotis Lafazanis, Deputy Labor Minister Dimitris Stratoulis as well as Parliament President Zoe Konstantopoulou, all called “present,” in effect abstaining from the vote and withholding their support to the government.

    “The government is being totally blackmailed to acquiesce to something that does not reflect what it represents,” Konstantopoulou said and also refused to allow the plenary to vote before 12:01 am on Saturday, citing a parliament regulation that does not allow a plenary vote on a subject the same day it was approved by the appropriate committees.

    Five more SYRIZA lawmakers voted “present” while two others voted “no.” Seven other party MPs were absent, and in essence showed they disapprove the proposal. Among the absent MPs was former Finance Minister Yanis Varoufakis who went to his holiday home on the island of Aegina claiming “family obligations.”

    Five Left Platform members signed a letter saying it would be better to return to the drachma than return to austerity with no debt writeoff.

    At the same time, several SYRIZA MPs stated that they may have voted in favor of the proposal but they did so heavy-hearted.

    Analysts expect major developments after European partners and the International Monetary Fund (IMF) grant Greece a bailout package. It is uncertain if Tsipras will get his party’s approval when the new bailout agreement measures come to parliament to become laws. It is also uncertain how he would react to his party’s “defectors.” Will there be a major cabinet reshuffle? Or an expulsion of certain party “rebels”? Or will Tsipras call for snap elections?

    All these questions will be answered after the government secures a deal. Tsipras said: “What matters now is the positive outcome in the negotiations. Everything else will be dealt with in time.”
    Source: http://greece.greekreporter.com/2015/07/11/greek-govt-counts-its-losses-after-getting-vote-of-approval-on-proposals/


    • To be fair to Tsipras, it’s hard to say which looks in terms of human misery. Returning to the drachma will cause a lot of short term suffering and it seems impossible to say how long it will last.


      • RonMamita says:

        Whatever Tsipras deserves for his role in the ongoing institutional crimes I wish for him to receive fully.
        I wish fairness for the People; to be aware and prepared for the coming crises (Sept/Oct 2015 and the following years) as “volatility” results from restructuring the international monetary system (“RESET”) for technocrats/officials to manage (force onto the People) with mandatory compliance penalties.
        They are attempting to engineer a permanent world wide debt-money slavery system…


      • RonMamita says:

        *current event:
        At this moment Police clash with protestors…


        • RonMamita says:

          Syriza “Punked Out”


          • Ellen Brown wrote a particularly illuminating article yesterday about the ECB shedding a little of their quantitative easing on Greece – that’s what they did with US bank debt: https://lozzafun1.wordpress.com/2015/07/15/grexit-or-jubilee-how-greek-debt-can-be-annulled/


            • RonMamita says:

              There are no shortages of ways to solve Greece’s debt, sadly that is not the REAL issue…
              (Conspicuous absence is Mario Draghi,President of the European Central Bank, who famously said “we think the euro is irreversible” and said on July 26, 2012 that he would do “whatever it takes” to save the Euro.)

              Appease the Rulers or Exit the Empire (and survive their wrath)

              Did you read Tsipras’ “I Don’t Support What I’m Doing” Comment?

              Every observer, looking at the Youthful Empire known as the European Union, should be aware that the EU are in a ruthless phase of consolidating their empire.
              Thus, I do not see the point in writing about debt solutions for Greece, as it is a futile effort in that empire arena. (I find it interesting to scrutinize the officials who are aware of the empires and either want to remain in or exit!) After becoming aware of this subtext (empire) the negotiating dialogue and proposals became more meaningful and comprehensible with rewards and harsh/lighter punishments (citizens are always the cash-cow and revenue stream guarantor for empire).

              A fruitful effort is sharing how the citizens of Greece will survive by jumping outside (while not being naive and overlooking being attacked by empires)…

              – Piecing The Puzzle –

              I want you to know that I was not using hyperbole speaking of “Empire”, after scrutinizing the IMF published structural reforms of the world’s financial system (multipolar zones and SDR implementation) and the “public-side” of the Eurozone bosses such as Jeroen Dijsselbloem the Eurogroup President, and European Commission President Jean-Claude Juncker, and German Finance Minister Wolfgang Schaeuble :

              EU President M Schulz Agrees Banking System Is a Fraud:

              And below is a Very Interesting discussion report, by AIG banque:

              What Europe Wants?
              To use global issues as excuses to extend its power:
              *environmental issues: increase control over member countries; advance idea of global governance

              *terrorism: use excuse for greater control over police and judicial issues; increase extent of surveillance

              *global financial crisis: kill two birds (free market; Anglo-Saxon economies) with one stone (Europe-wide regulator; attempts at global financial governance)

              *EMU: create a crisis to force introduction of “European economic government”

              **Again that was bankers/financiers talking!
              PLEASE read the PDF file.


            • RonMamita says:

              Talking about illuminating:
              Yanis Varoufakis (YV) blows the Whistle!

              HL: What is the greatest problem with the general way the Eurogroup functions?

              YV: [To exemplify…] There was a moment when the President of the Eurogroup decided to move against us and effectively shut us out, and made it known that Greece was essentially on its way out of the Eurozone. … There is a convention that communiqués must be unanimous, and the President can’t just convene a meeting of the Eurozone and exclude a member state. And he said, “Oh I’m sure I can do that.” So I asked for a legal opinion. It created a bit of a kerfuffle. For about 5-10 minutes the meeting stopped, clerks, officials were talking to one another, on their phone, and eventually some official, some legal expert addressed me, and said the following words, that “Well, the Eurogroup does not exist in law, there is no treaty which has convened this group.”

              So what we have is a non-existent group that has the greatest power to determine the lives of Europeans. It’s not answerable to anyone, given it doesn’t exist in law; no minutes are kept; and it’s confidential. So no citizen ever knows what is said within. … These are decisions of almost life and death, and no member has to answer to anybody.


  9. Alan Scott says:

    Yep. Bankers need to lend the money they create, and they’re not too fussy when it comes to lending it. When they get it wrong, governments bail them out – and it’s not even tax-payers’ money, since most governments run deficit budgets already. Then out come the ‘belt-tighteners’ intent on turning the 99% into indentured servants. The next stage after ‘out-sourcing’ industry to the 3rd World is bringing the factories back because you’ve driven wages and salaries in your own country down to ‘competitive’ levels.

    I’m cheering for Tsipras, but, unfortunately, too many deluded people find it easy and comfortable to blame the Greeks for their ‘profligacy.’ ‘Then when they came for me, there was no one left to help.’ Heard that one before?


    • RonMamita says:

      Perhaps more Greek citizens will wake up as the nation’s assets are sold to oligarchs, taxes are hiked, pensions and wages are cut, small businesses are closed…

      When the pom poms are put away and the cheering stops the stark impact of current policies will be devastatingly clear, Tsipras new proposal and the euro are not doing the individual Greek citizens any good.

      I am now checking the most recent news-feeds (negotiations fail) from Greece, the events are so very dynamic and fluid that my comments may not reflect the current news-media sound bites. What matters most, are the preparations that aware individuals are currently making and alternative solutions they are implementing. The institutions are on a separate destructive path.
      This is not isolated to Greece, all of us can prepare.


  10. RonMamita says:

    Next 48 hours- Pain in Euroland/DOW

    Posted 12 Jul 2015


  11. RonMamita says:

    Greek control handed to Europe – Paul Mason

    posted 13 July 2015
    Syriza’s climbdown: Greek control handed to Europe – Paul Mason (Episode 16)

    Greece will have to implement the tough austerity measures demanded by its lenders, plus hand €50bn of assets to a privatisation fund, where sales will be used to pay down debt.
    Greece wins euro debt deal – but democracy is the loser – See more at: http://blogs.channel4.com/paul-mason-blog/greece-wins-euro-debt-deal-democracy-loser/4155

    After an all-night negotiation during which Greek prime minister was subjected, according to one observer, to “mental waterboarding”, there is the basis of a deal to keep Greece in the euro. As I write, the Greek side do not have a document, but we have some details.

    If you doubt how it might play on the Greek streets, consider the headline of Dimokratia, a conservative tabloid: “Greece in Auschwitz: Schauble attempts eurozone holocaust”.


    • The only way I see the Greek people acceding to this is via martial law.


      • RonMamita says:

        there certainly has been great drama as Greek citizens are cash starved…


      • RonMamita says:

        You recall the information I shared on your blog about the creditor’s control of the Greek banking infrastructure, making it necessary to take it by force with government armed agents if Greece decided to challenge the monetary union?

        Interestingly now the forces that are charging “Treason” against Yanis Varoufakis have let the cat out of the bag, that the Greek tax system is controlled (with secret codes) by the creditors as well. Of course the creditors are denying this…

        I always thought Yanis’ life was threatened, and now his career and freedom is threatened with imprisonment for treason.

        New video are included near the bottom of this thread.


  12. RonMamita says:

    What If A Computer Glitch Withdrew All Your Bank Assets!

    Be Prepared, Take Your Savings Out of The Bank

    U.S. Stock Market Shut Down Due to Software Glitch as Investors Panic!


  13. RonMamita says:

    Ms. Fattorelli, a former official of the Ministry of Finance of Brazil

    Exposes the institutional criminality and the fraud, the debt is a Lie chained to the People by force.

    περπαταμε μαζι, 13/5/2015

    οι Μωυσής Λίτσης και Σταμάτης Στεφανάκος φιλοξενούν στην εκπομπή του Vmedia(www.vmedia.gr) “Περπατάμε Μαζί”, τη Μαρία Λουσία Φαττορέλλι. Η κ. Φαττορέλλι, πρώην υπάλληλος του υπουργείου Οικονομικών της Βραζιλίας με πολυετή πείρα σε επιτροπές λογιστικού ελέγχου του δημόσιου χρέους στη χώρα της και τον Ισημερινό, μετέχει στην Επιτροπή Αλήθειας για το Δημόσιο Χρέος που έχει συστήσει η πρόεδρος της ελληνικής Βουλής Ζωή Κωνσταντοπούλου.
    Η κ. Φαττορέλλι θα μιλήσει για την εμπειρία της από άλλους λογιστικούς ελέγχους, τις δυσκολίες και τις προσδοκίες ενός τέτοιου εγχειρήματος και την απόφασή της να μετάσχει με άλλους ειδικούς στην ελληνική επιτροπή. – Captured Live on Ustream at http://www.ustream.tv/channel/xorisfm

    THE ONLY WAY ANYONE would sign a contract with the clause below is if their life or the lives of their families were threatened:
    Creditor Loan Facility Agreement: “If any one or more of the provisions contained in this agreement should be or become fully or in part invalid, illegal, or unenforceable in any respect … the validity, the legality, and enforceability of the main provisions contained in this agreement shall not be affected or impaired thereby.”

    That above contract is the act of mafia style loan sharking, agree or die, pay up or else!
    Thus what we witness as public utilities and assets are given to corporate moguls, oligarchs, multinational mega-businesses:

    Alexis Tsipras’ problems: privatisation and protest – Paul Mason (Episode 17)


    Greece Torture Continues From The Money Mafia (Creditors)

    Posted 13 July 2015
    Dimitri Lascaris says the deal is a collective punishment of the Greek people for supporting a party that attempted to moderate neoliberalism in Europe.


  14. RonMamita says:

    Yanis Varoufakis full transcript: our battle to save Greece

    The full transcript of the former Greek Finance Minister’s first interview since resigning.

    This conversation took place before the deal.
    Yanis Varoufakis = YV
    Harry Lambert = HL

    HL: What was it like? Did you like any aspect of it?

    YV: Oh well a lot of it. But the inside information one gets… to have your worst fears confirmed … To have “the powers that be” speak to you directly, and it be as you feared – the situation was worse than you imagined! So that was fun, to have the front row seat.

    HL: What are you referring to?

    YV: The complete lack of any democratic scruples, on behalf of the supposed defenders of Europe’s democracy. The quite clear understanding on the other side that we are on the same page analytically – of course it will never come out at present. [And yet] To have very powerful figures look at you in the eye and say “You’re right in what you’re saying, but we’re going to crunch you anyway.”

    HL: You’ve said creditors objected to you because “I try and talk economics in the Eurogroup, which nobody does.” What happened when you did?

    YV: It’s not that it didn’t go down well – it’s that there was point blank refusal to engage in economic arguments. Point blank. … You put forward an argument that you’ve really worked on – to make sure it’s logically coherent – and you’re just faced with blank stares. It is as if you haven’t spoken. What you say is independent of what they say. You might as well have sung the Swedish national anthem – you’d have got the same reply. And that’s startling, for somebody who’s used to academic debate. … The other side always engages. Well there was no engagement at all. It was not even annoyance, it was as if one had not spoken.

    HL: When you first arrived, in early February, this can’t have been a unified position?

    YV: Well there were people who were sympathetic at a personal level – so, you know, behind closed doors, on an informal basis, especially from the IMF. [HL: “From the highest levels?” YV: “From the highest levels, from the highest levels.”] But then inside the Eurogroup, a few kind words and that’s it, back behind the parapet of the official version.

    [But] Schäuble was consistent throughout. His view was “I’m not discussing the programme – this was accepted by the previous government and we can’t possibly allow an election to change anything. Because we have elections all the time, there are 19 of us, if every time there was an election and something changed, the contracts between us wouldn’t mean anything.”

    So at that point I had to get up and say “Well perhaps we should simply not hold elections anymore for indebted countries”, and there was no answer. The only interpretation I can give [of their view] is “Yes, that would be a good idea, but it would be difficult to do. So you either sign on the dotted line or you are out.”

    HL: And Merkel?

    YV: You have to understand I never had anything to do with Merkel, finance ministers talk to finance ministers, prime ministers talk to Chancellors. From my understanding, she was very different. She tried to placate the Prime Minister [Tsipras] – she said “We’ll find a solution, don’t worry about it, I won’t let anything awful happen, just do your homework and work with the institutions, work with the Troika; there can be no dead end here.”

    This is not what I heard from my counterpart – both from the head of the Eurogroup and Dr Schäuble, they were very clear. At some point it was put to me very unequivocally: “This is a horse and either you get on it or it is dead.”

    HL: Right so when was that?

    YV: From the beginning, from the very beginning. [They first met in early February.]


    HL: What is the greatest problem with the general way the Eurogroup functions?

    YV: [To exemplify…] There was a moment when the President of the Eurogroup decided to move against us and effectively shut us out, and made it known that Greece was essentially on its way out of the Eurozone. … There is a convention that communiqués must be unanimous, and the President can’t just convene a meeting of the Eurozone and exclude a member state. And he said, “Oh I’m sure I can do that.” So I asked for a legal opinion. It created a bit of a kerfuffle. For about 5-10 minutes the meeting stopped, clerks, officials were talking to one another, on their phone, and eventually some official, some legal expert addressed me, and said the following words, that “Well, the Eurogroup does not exist in law, there is no treaty which has convened this group.”

    So what we have is a non-existent group that has the greatest power to determine the lives of Europeans. It’s not answerable to anyone, given it doesn’t exist in law; no minutes are kept; and it’s confidential. So no citizen ever knows what is said within. … These are decisions of almost life and death, and no member has to answer to anybody.

    …Read more:

    Deadlines Used To Pressure Greece into Compliance


  15. RonMamita says:

    Germany Replacing Bank Cards and Eliminating Cash Withdrawals


    The game is afoot to eliminate CASH. According to reliable sources, Maestro is seriously under attack. In Germany, Maestro was a multi-national debit card service owned by MasterCard and founded in 1992. Maestro cards obtained from associate banks and can be linked to the cardholder’s current account, or they can be used as prepaid cards. Already we see the cancellation of such cards and the issuing of new debit cards. Why? The new cards cannot be used at an ATM outside of Germany to obtain cash. Any attempt to get cash can only be an advance on a credit card.


    Little by little, these people are destroying everything that held the world economy together. Their hunt for spare change for tax purposes is undermining every aspect of civilization. This will NEVER END NICELY for they can only think about their immediate needs with no comprehension of the future they are creating. Indeed, somebody better pray for us, for those in charge truly do not know what they are doing.


    We seriously need to hit the Ctrl-Alt-Delete button on government. This is total insanity and we are losing absolutely everything that makes society function.

    Once they eliminate CASH, they will have total control over who can buy or sell anything.


  16. RonMamita says:

    Interview Yanis Varoufakis

    Posted July 28, 2015
    > > >

    Tsipras Defends Varoufakis Preparation for Grexit (1/2)

    Posted 01 Aug 2015
    James K. Galbraith a member of the working group advising the former finance minister Varoufakis on ‘Plan B’ says there were great impositions imposed on the Greek government including certain procedures that removed control from the government and placed them in the hands of creditor institutions


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