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has the Greek financial crisis been solved or is the media just bored with it?

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  • ?
    Lv 7
    6 years ago

    The Greeks agreed to the terms and conditions of getting more bail out money.

    It's "settled" until the next time the Greeks need to borrow money to pay back the money they borrowed. So expect it to be back in the news next year.

  • Anonymous
    6 years ago

    No resolution in the sense the population won!

    What happens further down the line, is still inconclusive.

    Greece needs a write down of debt, just as Germany did after Hitler. Or the debt needs to be extended. As things stand the worst of all worlds. Fascism ie Golden Dawn will rise!

    Currently 10% rise in VAT, has raised prices in the shops!

    A list of infrastructure to be sold dirt cheap is pending!

    http://blogs.channel4.com/paul-mason-blog/

    "The IMF says – after the weeks of dislocation caused by the relentless bank run and the capital controls – that the austerity deal is pointless. Greece needs a massive debt write-off or large upfront transfers of taxpayers money from the rest of Europe. It needs a 30 year grace period in which it will stop repaying the loans.

    Yet the entire deal done on Sunday night was premised on not a single cent worth of debt relief. Vague commitments to “reprofile” debt – pushing repayment times backwards and lowering the interest rates – were all Angela Merkel could be persuaded to do.

    What this means is very simple: the third bailout agreed in principle on Sunday night is doomed to fail. First because the IMF cannot sign up to it without debt relief; second because, without debt relief it will collapse the Greek economy. This is even before you factor in issues like mass resistance to its details, or the total lack of enthusiasm for execution of the deal by the Syriza ministers who will have to do it."- See more at: http://blogs.channel4.com/paul-mason-blog/greece-c...

    http://www.informationclearinghouse.info/article42... "However the EU itself, with such a divisively elite hierarchy, will hardly be able to survive as a powerful bloc. And here is where it gets interesting.

    Who benefits from a disunited Europe?"

    http://www.counterpunch.org/2015/07/22/in-defense-... "On the one hand, the Greek people clearly rejected austerity; on the other hand, at the same time even more (75 percent) wanted to stay in the eurozone. This is why Tsipris kept repeating in the lead-up to the referendum that the vote was not about leaving the eurozone. And it is why some of Greece’s creditors, who were trying to manipulate a yes vote, kept insisting that a no vote meant leaving.

    When the economy worsens, the Greek people will be increasingly open to re-evaluating their relation to the eurozone."

    http://www.counterpunch.org/2015/07/20/syriza-trie... "First, capital controls were in fact imposed on Greece by the ECB as it curtailed its provision of liquidity to Greek banks. ECB did so, in close co-operation with the EU, in order to coerce SYRIZA to accept the troika (EU-ECB-IMF) austerity program and implement it unconditionally.

    Second, capital controls caused serious economic and political problems. The already gravely wounded by the troika austerity program Greek economy took a severe hit because of the additional problems in financing its activities. It is estimated that ECB’s curtailing of liquidity cost more than 3bn euros."

    http://www.washingtonsblog.com/2015/07/agency-to-e... "Late on Thursday, July 16th, German Economic News headlined “Greece: Debt Restructuring Through the Back Door,” and reported that, “The majority of Greece’s national debt is to be moved in the next three years gradually to the euro bailout fund ESM [European Stability Mechanism], so that the IMF will continue to remain as a lender. The euro zone countries will thereby provide Athens a longer grace period [a temporary postponement of payments, while the 18% annual interest-rate soars Greece’s debt even higher], and longer repayment periods.”

    The super-secretive European Stability Mechanism was set up in 2012, in order to handle Greece’s anticipated virtual receivership, which it now will do."

    http://www.informationclearinghouse.info/article42... "Journalist John Pilger Condemns Syriza's Historic Betrayal of Greek Voters"

    http://www.commondreams.org/news/2015/07/21/varouf... "The truth of the matter is, the very powerful Troika of creditors were not interested in coming to a sensible, honorable mutually beneficial agreement," Varoufakis said, referring to group that represents foreign creditors, the International Monetary Fund (IMF), the European Commission (eurogroup), and the European Central Bank (ECB).

    Varoufakis admitted that during negotiations his government did make some mistakes, but mostly in assuming that they were holding "a rational bargaining session."

    http://www.rt.com/business/310337-halqi-syria-russ...

    http://www.washingtonsblog.com/2015/07/thousands-o...

    Source(s): http://tass.ru/en/economy/809613? Sale of Greek assets http://www.thedailysheeple.com/the-firesale-begins... http://www.alternet.org/economy/ghost-thatcherism-... "Each of these examples reveals a full-throated assault on Greek society by the Troika."
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