Troika appears to be ok with greece's letter...

[FBD]

and to sum it up,


As for the Syriza government's "mandate", what has happened over the past week is that the new government's list of unfulfillable promises to the Greek people has been replaced with a new list of unfulfillable promises to the Troika.



and the greeks realize they have been deceived yet again, by yet another political party, with threats from a large organized crime syndicate.


I mean really, there's nothing else to post on it, and the WSJ article is paywalled.

T minus 4 months until Golden Dawn gets elected :roll:

[redred]

and of course the Greek people hiding there money from the tax man all these years has really helped :lol:

[FBD]

that's what happens when the whole system is corrupt.


and this....this is what happens when an entirely corrupt system has their membership card fudged to get in the club when they have no business being there at all, but double corruption, goldman sachs helped them fudge their books and helped them fudge their way into the EU, knowing full well the entire time they were engaging a debt ponzi - but the criminal banking cartel does not care, it was merely a way to say "you owe us now" and "you owe us big time now" about a hundred times over.


So while Greeze has their own issues - they were hoodwinked by the banking crime syndicate....and each new party gets told basically with a gun to their head to agree to new bailout rules. Greece, Spain, Portugal....all toppping the list.....and all still teetering on the edge of an engineered financial collapse. The Austerity is meant to keep them teetering.


That debt is odious, cannot be repaid, and will not be repaid. Did you happen to notice the OECD's assessment on the countries that have made the most financial cleanup recently? Irony, it is all of the ones that are doing most terribly, from the forced farce austerity of the banks holding you hostage.

[FBD]

:rofl: well, little wonder they were ok with it - turns out, they wrote the fkn letter!


http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2015/02/declan%20costello%20letter_1_0.jpg

As for the actual author of the "Greek" reform package, a document which was created at 10:09 pm on Monday, February 23, 2015 (so technically, yes, before midnight on Monday) was one Declan Costello of the European Commission.

Who is Declan? Here is his bio courtesy of the CEPR's Policy Portal, VOX:


Declan Costello



Declan Costello is an Economist working in the Directorate General for Economic and Financial Affairs of the European Commission since 1991. Currently he is Head of Unit in the department responsible for the 'Coordination of structural refroms and of the economic service, which is involved in developing the economic framework for analysing progress with structural reforms at EU and Member State level towards raising growth potential (the so-called Lisbon strategy), and developing EU policies in response to the economic crisis. Prior to this, he was Head of Unit dealing with economic analysis of labour markets and social welfare systems, where he co-ordinated a project to make projections on the economic and budgetary impact of ageing populations for EU Member States. He has a degree in economics from Trinity College Dublin and a Masters degree for the College of Europe, Bruges. Representing the European Commission, Mr. Costello is also an alternate member of the Economic Policy Committee (EPC) which advises and prepares the EU's Council of Economics and Finance Ministers (ECOFIN).


But the biggest joke in all this? As the FT's Peter Spiegel revealed, the IMF, which is an integral part of the Institutional Troika, now pretends to not be on board with the very letter it helped draft (and one doesn't need to believe the pdf story above for that: after all all parties have said they cooperated over the weekend when drafting the final version of the letter) just to give the process some aura of legitimacy.


http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2015/02/IMF%20not%20happy_0.jpg

[FBD]

As European Commission President Jean-Claude Juncker stated, “there can be no democratic choice against the European treaties.”


As Juncker also said, "When it gets serious, you have to lie."





How is it possible that, only a few weeks after the historic result of January 25, we have this countermanding of the popular mandate for the overthrow of the memorandum?



The answer is simple: what collapsed in the last two weeks is a specific strategic option that has underlaid the entire approach of SYRIZA, particularly after 2012: the strategy that excluded “unilateral moves” such as suspension of payments and, even more so, exit from the euro, and argued that:

-On the issue of the debt, a favorable solution for the debtor can be found with the concurrence of the lender, following the model of the London agreements of 1953 for the debts of Germany — ignoring of course the fact that the reasons the Allies behaved generously towards Germany do not in any way apply to the Europeans today vis à vis the Greek debt, and more generally the public debt of the over-indebted states of today’s EU.
-Overthrow of the memoranda, expulsion of the troika, and a different model of economic policy (in other words implementation of the Thessaloniki program) could be implemented irrespective of the outcome of debt negotiations and, above all, without triggering any real reaction from the Europeans, above and beyond the initial threats, which were dismissed as bluffing. Indeed, half of the funding for the Thessaloniki program was envisaged as coming from European resources. In other words, not only would the Europeans not have reacted, but they would have generously funded the opposite policies they had been imposing for the last five years.
-Finally, the “good euro” scenario presupposed the existence of allies of some significance at the level of governments and/or institutions (the reference here is not to the support from social movements or other leftist forces). The governments of France and Italy, the German social democrats, and finally, in a veritable frenzy of fantasy, Mario Draghi himself were from time to time invoked as such potential allies.


Friday’s defeat was inevitable and marks the end of the strategy of “a positive solution inside the euro,” or to be more accurate “a positive solution at all costs inside the euro.”

[FBD]

http://failedevolution.blogspot.gr/2015/02/varoufakis-exposes-troikas-cia-type.html

Varifoukas basically compares how the EU/IMF "helped" out greece to how the CIA "helped" other countries by waterboarding people :lol:

[FBD]

“In each case, embarrassed by the failure of its supposed medicine to work, the IMF charged the country with failing to take the necessary reforms seriously. In each case, it announced to the world that there were fundamental problems that had to be addressed before a true recovery could take place. Doing so was like crying fire in a crowded theater: investors, more convinced by the diagnosis of the problems than by the prescriptions, fled. Rather than restoring confidence that would lead to an inflow of capital into the country, IMF criticism exacerbated the stampede of capital out. Because of this, and the other reasons to which I turn shortly, the perception throughout much of the developing world, one I share, is that the IMF itself had become a part of the countries' problem rather than part of the solution.”

“In 1998, GDP in Indonesia fell by 13.1 percent, in Korea by 6.7 percent, and in Thailand by 10.8 percent. Three years after the crisis, Indonesia's GDP was still 7.5 percent below that before the crisis, Thailand's 2.3 percent lower.”

From Joseph Stiglitz's "Globalization and Its Discontents"

http://digamo.free.fr/stig2002.pdf

[FBD]

What's remarkable, however, is the mixed communicative policies of this powerful, destructive coalition. While Greece was blamed several times that does not take all the necessary reforms, which is an IMF tactic to blame the countries rather than its catastrophic recipes, Troika decided to "reward" its faithful Greek government by "signaling" to the markets to buy Greek bonds: "How else could we explain the fact that Moody's has chosen this moment of time to upgrade Greek bonds, when the condition of the Greek economy, according to the data, is much worse than 2010 when Greece was excluded from markets? When there is not even the slightest sign for the 'coming recovery'?" (http://failedevolution.blogspot.gr/2014/08/a-new-message-from-international.html)