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Leaked IMF document says that if Greece accepts EU proposal it will remain under austerity until 2030!

“It is clear that the policy slippages and uncertainties of the last months have made the achievement of the 2012 targets impossible under any scenario,” one of six IMF leaked documents, titled the Preliminary Debt Sustainability Analysis for Greece, stated.

Alex Christoforou

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Makes the YES vote seem a bit meaningless.

This story is getting way little press, and it deserves a lot more exposure.

The leaked IMF docs reveal that whether Greece signs the Troika proposal or not (votes YES or NO in Sunday’s referendum), the country is facing extremely tough times. Massive short term pain (NO vote) or a long, long, long term blood-letting (YES vote).

2030, under best case scenarios, is a long time to be under Troika austerity and memorandums.

Via Zerohedge…

Just when you think things can’t get any crazier, they always do. The Guardian reports on unpublished Troika documents that show Greece is only too right in asking for debt relief. That for the Syriza government to sign what the Troika wants to force them to sign would see Tsipras et al plunge their country into a financial hell hole.

Via RT…

Even if Greece accepted all of the austerity measures demanded by its main creditors, the Troika, it still would not be able to make ends meet by 2030, according to IMF estimates revealed in a set of documents obtained by a German newspaper.

The most optimistic scenario shows that Greece would face an unsustainable debt in 2030 even if it agreed to the package of tax increases and spending cuts proposed by the European commission, the European Central Bank and the IMF in exchange for a five-month €15.5bn loan from its creditors.

These prospects were outlined in six documents that were part of the “final” proposal offered to Greece by the three main creditors on Friday. The papers were obtained by the German newspaper Süddeutsche Zeitung and seen by The Guardian.

The estimates provide support for Greece’s decision not to accept the bailout deal. They prove that for Greece to survive economically, it needs real debt relief measures, not austerity reforms.

According to the IMF, Greece would be unable to sustain a debt level of 118% of GDP. In 2012, the organization said that 110% of GDP is the highest debt threshold the country could take on.

Currently the country’s debt level amounts to 175% of GDP, and that percentage could easily rise if the country were to slip into recession.

The documents stressed that even if Greece posted stellar economic growth for 15 years, the debt level would still be higher than 110% of GDP, adding that Greece had no chance of meeting that target.

Even if the economy managed to maintain a growth rate of 4% a year for the next five years, the national debt level would only decline to 124%.

“It is clear that the policy slippages and uncertainties of the last months have made the achievement of the 2012 targets impossible under any scenario,” one of six secret documents, titled the Preliminary Debt Sustainability Analysis for Greece, stated.

There are also mentions of much needed“significant concessions,” but no specifics are revealed.

The files were reportedly sent to all German MPs for review and approval, but were never voted on since Greek Prime Minister Alexis Tsipras rejected the proposal and called for a referendum.

Other documents reveal further details about the proposed deal. For example, there is a description of how Greece would eventually gain access to €15 billion. The plan was to consist of five separate tranches beginning as soon as June. They were said to cover Greece’s immediate financing needs, with 93% of the money going towards paying the cost of maturing debt.

Other details were about reforms Greece should be forced to implement if it were to accept the proposal. The debate over pension reforms was particularly heated. The documents show that the three creditors wanted substantial reform, including changes to early retirement penalties and the phasing out the solidarity grant (EKAS).

Late on Tuesday evening, Greece became the first developed country to default on its international obligations, after the IMF confirmed that it had failed to receive the €1.5 billion debt payment from Athens that was due by the end of June 30.

Zerohedge explains that:

…all German MPs have received the documents, because a vote on them was supposed to take place, but none have said a thing about them. Good thing one at least was awake enough to send them to the press.

So they have these docs, and then yesterday Merkel says no more talks until after the referendum, and total silence follows. Boy, has she fallen from her pedestal. We know the Troika are composed of lackeys to the banking system -and this proves it once and for all-, but Merkel is worse. And she has the entire Bundestag wrapped around her finger. Some democracy, that Germany.

But the documents were also part of a package that was sent to Greece and everyone else. But still debt relief remained off the table? What am I missing here? How could Tsipras have signed off on this? He could see the Troika’s own numbers, and still they refused to take them into account and make them part of the deal?!

The Guardian gives the write up a half-ass title, but the contents are clear enough.

References:

http://rt.com/news/270853-greek-debt-unsustainable-imf/

http://www.zerohedge.com/news/2015-07-01/leaked-troika-documents-show-greece-needs-huge-debt-relief

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Is this man the puppet master of Ukraine’s new president or an overhyped bogeyman?

Smiling to himself, Kolomoisky would be within his rights to think that he has never had it so good.

RT

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Via RT…


It doesn’t actually matter if Ukrainian-Israeli billionaire Igor Kolomoisky is the real power behind Volodymyr Zelensky – the president elect has to get rid of the oligarch if he is to make a break with the country’s corrupt past.

The plots, deceits and conflicts of interest in Ukrainian politics are so transparent and hyperbolic, that to say that novice politician Zelensky was a protégé of his long-time employer was not something that required months of local investigative journalism – it was just out there.

Zelensky’s comedy troupe has been on Kolomoisky’s top-rated channel for the past eight years, and his media asset spent every possible resource promoting the contender against incumbent Petro Poroshenko, a personal enemy of the tycoon, who hasn’t even risked entering Ukraine in the past months.

Similarly, the millions and the nous needed to run a presidential campaign in a country of nearly 50 million people had to come from somewhere, and Kolomoisky’s lieutenants were said to be in all key posts. The two issued half-hearted denials that one was a frontman for the other, insisting that they were business partners with a cordial working relationship, but voters had to take their word for it.

Now that the supposed scheme has paid off with Zelensky’s spectacular victory in Sunday’s run-off, Ukrainian voters are asking: what does Kolomoisky want now, and will he be allowed to run the show?

‘One-of-a-kind chancer’

Born in 1963, in a family of two Jewish engineers, Kolomoisky is the type of businessman that was once the staple of the post-Soviet public sphere, but represents a dying breed.

That is, he is not an entrepreneur in the established Western sense at all – he did not go from a Soviet bloc apartment to Lake Geneva villas by inventing a new product, or even setting up an efficient business structure in an existing field.

Rather he is an opportunist who got wealthy by skilfully reading trends as the Soviet economy opened up – selling Western-made computers in the late 1980s – and later when independent Ukraine transitioned to a market economy and Kolomoisky managed to get his hands on a large amount of privatisation vouchers that put many of the juiciest local metals and energy concerns into his hands, which he then modernised.

What he possesses is a chutzpah and unscrupulousness that is rare even among his peers. Vladimir Putin once called him a “one-of-a-kind chancer” who managed to “swindle [Chelsea owner] Roman Abramovich himself.” In the perma-chaos of Ukrainian law and politics, where all moves are always on the table, his tactical acumen has got him ahead.

Kolomoisky’s lifeblood is connections and power rather than any pure profit on the balance sheet, though no one actually knows how that would read, as the Privat Group he part-owns is reported to own over 100 businesses in dozens of Ukrainian spheres through a complex network of offshore companies and obscure intermediaries (“There is no Privat Group, it is a media confection,” the oligarch himself says, straight-faced.)

Unsurprisingly, he has been dabbling in politics for decades, particularly following the first Orange Revolution in 2004. Though the vehicles for his support have not been noted for a particular ideological consistency – in reportedly backing Viktor Yushchenko, then Yulia Tymoshenko, he was merely putting his millions on what he thought would be a winning horse.

Grasp exceeds reach

But at some point in the post-Maidan euphoria, Kolomoisky’s narcissism got the better of him, and he accepted a post as the governor of his home region of Dnepropetrovsk, in 2014.

The qualities that might have made him a tolerable rogue on TV, began to grate in a more official role. From his penchant for using the political arena to settle his business disputes, to creating his own paramilitary force by sponsoring anti-Russian battalions out of his own pocket, to his somewhat charmless habit of grilling and threatening to put in prison those less powerful than him in fits of pique (“You wait for me out here like a wife for a cheating husband,” begins a viral expletive-strewn rant against an overwhelmed Radio Free Europe reporter).

There is a temptation here for a comparison with a Donald Trump given a developing country to play with, but for all of the shenanigans, his ideological views have always been relatively straightforward. Despite his Russia-loathing patriotism, not even his fans know what Kolomoisky stands for.

The oligarch fell out with fellow billionaire Poroshenko in early 2015, following a battle over the control of a large oil transport company between the state and the governor. The following year, his Privat Bank, which at one point handled one in four financial transactions in the country was nationalized, though the government said that Kolomoisky had turned it into a mere shell by giving $5 billion of its savings to Privat Group companies.

Other significant assets were seized, the government took to London to launch a case against his international companies, and though never banished, Kolomoisky himself decided it would be safer if he spent as long as necessary jetting between his adopted homes in Switzerland and Tel Aviv, with the occasional trip to London for the foreseeable future.

But the adventurer falls – and rises again. The London case has been dropped due to lack of jurisdiction, and only last week a ruling came shockingly overturning the three-year-old nationalization of Privat Bank.

Smiling to himself, Kolomoisky would be within his rights to think that he has never had it so good.

Own man

Zelensky must disabuse him of that notion.

It doesn’t matter that they are friends. Or what handshake agreements they made beforehand. Or that he travelled to Geneva and Tel-Aviv 13 times in the past two years. Or what kompromat Kolomoisky may or may not have on him. It doesn’t matter that his head of security is the man who, for years, guarded the oligarch, and that he may quite genuinely fear for his own safety (it’s not like nothing bad has ever happened to Ukrainian presidents).

Volodymyr Zelensky is now the leader of a large country, with the backing of 13.5 million voters. It is to them that he promised a break with past bribery, graft and cronyism. Even by tolerating one man – and one who makes Poroshenko look wholesome – next to him, he discredits all of that. He will have the support of the people if he pits himself against the puppet master – no one would have elected Kolomoisky in his stead.

Whether the oligarch is told to stay away, whether Ukraine enables the financial fraud investigation into him that has been opened by the FBI, or if he is just treated to the letter of the law, all will be good enough. This is the first and main test, and millions who were prepared to accept the legal fiction of the independent candidate two months ago, will now want to see reality to match. Zelensky’s TV president protagonist in Servant of the People – also broadcast by Kolomoisky’s channel, obviously, would never have compromised like that.

What hinges on this is not just the fate of Zelensky’s presidency, but the chance for Ukraine to restore battered faith in its democracy shaken by a succession of compromised failures at the helm.

Igor Ogorodnev

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Roger Waters – The People’s Champion for Freedom

In February 2019, Waters showed his support for the Venezuelan Maduro government and continues to be totally against US regime change plans there.

Richard Galustian

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Submitted by Richard Galustian 

Roger Waters is one of Britain’s most successful and talented musicians and composers but more importantly is an outstanding champion for freedom in the world, beyond compare to any other artist turned political activist.

By way of background, he co-founded the rock band Pink Floyd in 1965.

A landmark turning point of his political activism occurred in 1990, when Waters staged probably the largest rock concert in history, ‘The Wall – Live in Berlin’, with an attendance of nearly half a million people.

In more recent years Waters famously narrated the 2016 documentary ‘The Occupation of the American Mind: Israel’s Public Relations War in the United States’ about the insidious influence of Zionist Israel to shape American public opinion.

Waters has been an outspoken critic of America’s Neocons and particularly Donald Trump and his policies.

In 2017, Waters condemned Trump’s plan to build a wall separating the United States and Mexico, saying that his band’s iconic famous song, ‘The Wall’ is as he put it “very relevant now with Mr. Trump and all of this talk of building walls and creating as much enmity as possible between races and religions.”

In February 2019, Waters showed his support for the Venezuelan Maduro government and continues to be totally against US regime change plans there, or any place else for that matter.

Here below is a must see recent Roger Waters interview, via satellite from New York, where he speaks brilliantly, succinctly and honestly, unlike no other celebrity, about FREEDOM and the related issues of the day.

The only other artist turned activist, but purely for human rights reasons, as she is apolitical, is the incredible Carla Ortiz.

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ISIS Says Behind Sri Lanka Bombings; Was ‘Retaliation’ For New Zealand Mosque Massacre

ISIS’s claim couldn’t be confirmed and the group has been  known to make “opportunistic” claims in the past, according to WaPo. 

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Via Zerohedge…


Shortly after the death toll from Sunday’s Easter bombings in Sri Lanka climbed above the 300 mark, ISIS validated the Sri Lankan government’s suspicions that a domestic jihadi organization had help from an international terror network while planning the bombings were validated when ISIS took credit for the attacks.

The claim was made via a report from ISIS’s Amaq news agency. Though the group has lost almost all of the territory that was once part of its transnational caliphate, ISIS now boasts cells across the Muslim world, including in North Africa and elsewhere. Before ISIS took credit for the attack, a Sri Lankan official revealed that Sunday’s attacks were intended as retaliation for the killing of 50 Muslims during last month’s mass shooting in Christchurch, New Zealand.

However, the Sri Lankan government didn’t offer any evidence for that claim, or the claim that Sunday’s attacks were planned by two Islamic groups (though that now appears to have been substantiated by ISIS’s claim of responsibility). The group is believed to have worked with the National Tawheed Jamaath, according to the NYT.

“The preliminary investigations have revealed that what happened in Sri Lanka was in retaliation for the attack against Muslims in Christchurch,” State Minister of Defense Ruwan Wijewardene told the Parliament.

Meanwhile, the number of suspects arrested in connection with the attacks had increased to 40 from 24 as of Tuesday. The government had declared a national emergency that allowed it sweeping powers to interrogate and detain suspects.

On Monday, the FBI pledged to send agents to Sri Lanka and provide laboratory support for the investigation.

As the death toll in Sri Lanka climbs, the attack is cementing its position as the deadliest terror attack in the region.

  • 321 (as of now): Sri Lanka bombings, 2019
  • 257 Mumbai attacks, 1993
  • 189 Mumbai train blasts, 2006 166 Mumbai attacks, 2008
  • 151 APS/Peshawar school attack, 2014
  • 149 Mastung/Balochistan election rally attack, 2018

Meanwhile, funeral services for some of the bombing victims began on Tuesday.

Even before ISIS took credit for the attack, analysts told the Washington Post that its unprecedented violence suggested that a well-financed international organization was likely involved.

The bombings on Sunday, however, came with little precedent. Sri Lanka may have endured a ghastly civil war and suicide bombings in the past – some credit the Tamil Tigers with pioneering the tactic – but nothing of this scale. Analysts were stunned by the apparent level of coordination behind the strikes, which occurred around the same time on both sides of the country, and suggested the attacks carried the hallmarks of a more international plot.

“Sri Lanka has never seen this sort of attack – coordinated, multiple, high-casualty – ever before, even with the Tamil Tigers during the course of a brutal civil war,” Alan Keenan, a Sri Lanka expert at the International Crisis Group, told the Financial Times. “I’m not really convinced this is a Sri Lankan thing. I think the dynamics are global, not driven by some indigenous debate. It seems to me to be a different kind of ballgame.”

Hinting at possible ISIS involvement, US Secretary of State Mike Pompeo said during a Monday press conference that “radical Islamic terror” remained a threat even after ISIS’s defeats in Syria.

Of course, ISIS’s claim couldn’t be confirmed and the group has been  known to make “opportunistic” claims in the past, according to WaPo. The extremist group said the attacks were targeting Christians and “coalition countries” and were carried out by fighters from its organization.

Speculation that the government had advanced warning of the attacks, but failed to act amid a power struggle between the country’s president and prime minister, unnerved citizens and contributed to a brewing backlash. Following the bombings, schools and mass had been canceled until at least Monday, with masses called off “until further notice.”

 

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