Connect with us

Latest

Hellenic Insider

Greece

Tsipras’ impossible dilemna…please EU creditors, please his SYRIZA party, and please the Greek people

Greece’s Prime Minister Alexis Tsipras is faced with the ultimate dilemma: accept German-advocated austerity measures opposed by hardliners in his own party or take his country out of the euro.

Alex Christoforou

Published

on

0 Views

Post originally appeared on Bloomberg.

While Sunday’s referendum delivered a strong rebuke from Greek voters to the austerity demands, it also put pressure on Tsipras to strike a deal after many people cast their vote as a desire to stay in the euro on better terms. For some hardline members of his Coalition of the Radical Left or Syriza party, however, the vote was a firm sign of rejection of euro membership at all costs.

“Tsipras will probably face significant party unrest from the left bloc, which is already calling for him to insist on the path indicated in their view by the ‘no’ vote in the referendum,” Nomura analysts including Lefteris Farmakis and Nick Matthews wrote in a note to clients Wednesday.

The most clear salvo came Thursday from Energy Minister Panagiotis Lafazanis, the head of the so-called Left Platform which controls about 40 hardline leftist lawmakers in parliament, mostly former communists, many of whom advocate unilateral default, bank nationalization and euro exit.

“We don’t want a third memorandum with tough austerity measures,” Lafazanis said at a conference in Athens. “The Greek people’s ’no’ isn’t going to be turned into a humiliating ’yes’ and a new bailout crematorium.”

His remarks came a day after Tsipras applied for a three-year loan from the European Stability Mechanism, in a letter promising to implement tax and pension system reforms as soon as early next week.

The government has until Thursday midnight to present an economic plan that includes spending cuts, in exchange for the new bailout. Failure to deliver a credible proposal will set off a process for the country’s exit from the single currency as early as Sunday, its European partners have warned.

The German government is doubtful Tsipras is strong enough to turn against his own party and cooperate with the opposition, according to two German government officials familiar with Chancellor Angela Merkel’s strategy.

In its letter, requesting the three-year bailout, the government struck a more conciliatory tone than before. The document, signed by the Greek Finance Minister Euclid Tsakalotos, said the government planned to honor all its debts and introduce a comprehensive list of reforms. That’s a commitment not shared by everyone in the Syriza party.

“Tsipras still needs to overcome significant hurdles, both relating to the negotiation with Greece’s creditors as well as within his own party, before he can make the leap to agreeing to a mutually acceptable conditionality package to avert the country’s exit,” Nomura’s Farmakis and Matthews wrote.

A day before Tsakalotos sent the bailout request, Zoi Konstantopoulou, the speaker of the Greek Parliament, said that Greece’s debt is “illegal, odious and unsustainable.” This debt cannot be repaid “without further violation of fundamental social and economic rights,” the Syriza lawmaker said in a letter to European Parliament president Martin Schulz.

To avoid “disaster,” Tsipras would have to repudiate his past positions, Jacob Kirkegaard, a senior fellow at the Peterson Institute in Washington, said in a blog post.

“Tsipras is well positioned to pull off such a dramatic turnabout,” said Kirkegaard, citing his strengthened position domestically after winning the referendum with 61 percent backing his call to vote “no.” “He should be able to secure a cross-party mandate from the main opposition parties, clearing the way for parliamentary approval even if he were to lose large parts of his own party’s MPs.”

References:

http://www.bloomberg.com/news/articles/2015-07-09/tsipras-stuck-between-a-german-rock-and-a-greek-left-hard-place

Liked it? Take a second to support The Duran on Patreon!
Advertisement
6 Comments

6
Leave a Reply

avatar
6 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
0 Comment authors
state farm insurance phone number claimsxfwmrt5gzngfw5wtrjfgxe85mrwfqdxt5m8ct4ykwk7rdywx8t54w5ctxsdf2xncq3tbooowtfb57wwc5m4tntxcmwnv54ec8tnv5cev5jfdcnv5 Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
trackback

ccn2785xdnwdc5bwedsj4wsndb

[…]although websites we backlink to below are considerably not connected to ours, we feel they may be in fact worth a go by way of, so possess a look[…]

trackback

xcmwnv54ec8tnv5cev5jfdcnv5

[…]we came across a cool website that you may well love. Take a search in the event you want[…]

trackback

Title

[…]check below, are some absolutely unrelated websites to ours, however, they are most trustworthy sources that we use[…]

trackback

Title

[…]always a big fan of linking to bloggers that I adore but don’t get a good deal of link like from[…]

trackback

Title

[…]although sites we backlink to below are considerably not related to ours, we feel they’re truly really worth a go by way of, so have a look[…]

trackback

Title

[…]we came across a cool web site which you may take pleasure in. Take a look should you want[…]

Latest

Russia’s economy continues to outperform as gold takes center stage (Video)

The Duran Quick Take: Episode 118.

Alex Christoforou

Published

on

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris examine how US and EU sanctions have continued to provide a huge boost to Russia’s economy. Russia’s food sovereignty has practically been achieved, as the Russian central bank continues to buy gold and lower its exposure to western financial markets.

Remember to Please Subscribe to The Duran’s YouTube Channel.

Follow The Duran Audio Podcast on Soundcloud.

Via TASS…

Outside pressure in the form of sanctions has become an incentive to resolve various issues of Russia’s economy, Russian Security Council Secretary Nikolai Patrushev stated in an interview with the Izvestiya daily.

He noted that through introducing sanctions against Russia, “the West aims to destabilize Russia’s economy and to create social and political tensions in society.”

“But during the difficult times, Russians have always stuck together and mobilized their resources in order to ensure the country’s sovereignty. This is what is happening now – the outside pressure has become an incentive to resolve many problems in Russia’s economy,” he said.

“Before the sanctions, it seemed that we would never be able to feed ourselves and that we are doomed to be dependent on Western import. However, right now, Russia’s food sovereignty in crucial sectors has practically been achieved, and in some areas, Russia has become the leading exporter,” Patrushev noted.

Those who apply the sanctions “can see that they (the sanctions – TASS) are ineffective and often achieve the opposite goal,” the Russian security chief concluded.

Liked it? Take a second to support The Duran on Patreon!
Continue Reading

Latest

US Neocon Foreign Policy and the War Waged Against Serbia

The Serbian assault began first by a ‘financial war’; by sanctions and finished off by an aggressive unprovoked incessant NATO bombing campaign.

Richard Galustian

Published

on

The ‘witch-hunt’ against President Trump over Russian collusion has officially ended, following the submission of the Mueller Report, enabling us to now focus on the real problems of America that effects the whole world.

In the hope of a waining of the Russophobia in America, let’s look at the US’s recent war history by starting with the 20th anniversary this month of the NATO war on Serbia in 1999 which amounted to almost 100 days of bombing of historic cities and infrastructure.

Firstly, these problems are, in the main caused by the Neocons, or Deep State, whatever you wish to call them, and the continuing promotion, by the US Military-Security Industrial Complex, of wars and regime change and secondly, Trump’s unreserved support for Israel, regardless of war crimes they may continue to commit against the Palestinians.

Incredibly after that one sided unjust and illegal war that NATO executed, NATO has the audacity to invite Serbia to join it! Something that will never happen. What do they smoke in DC, in the Pentagon and Brussels based NATO?

To compound these overall problems, the US Military and Israeli Defence Forces collaborate on these US regime change policies on all continents evidenced most recently by the arrival of crack Israeli troops last month in Brazil, prepared to support an attack potentially by Brazil and Columbia on Venezuela.

As, has now come to be expected, America pursues its Venezuelan regime change with full main stream media (MSM) cooperation, using well proven sophisticated propaganda techniques along with a variety of pretexts.

From Serbia to Iraq to Libya, where does it end? Observe that Trump is now seeking a ‘NATO alliance’ offering NATO status, to President Bolsonaro of Brazil to back the invasion of Venezuela.

So it is important to remember, as an example, that after a long war of economic and financial destabilization ended with the bombing of Serbia.

Serbia was previously a part of Yugoslavia, a country which had successfully evolved after 1945 to solve the old rivalries of the 19th and early 20th Century Balkan ethnic animosities which was, prior to the advent of power of President Tito, its past history.

The United Nations, instead of supporting, in effect, so called ‘humanitarian wars’ and ‘regime change wars’ by the US, using NATO, helped and relentlessly driven home by MSM outlets like CNN and FOX NEWS into people’s heads, must finally take a stand.

So too, Yugoslavia, once the envy of many in the world, given its then ‘non-aligned’ status under President Tito, was destroyed and broken up; ‘Balkanized’ in the early 1990s.

The Serbian assault began first by a ‘financial war’; by sanctions and finished off by an aggressive unprovoked incessant NATO bombing campaign. That’s what we can expect in Venezuela next.

This ‘Balkanization’ strategy similarly applies to Afghanistan, Iraq, Libya, Syria et al. It serves US Neocon interests to dismember States in the world and create smaller more ‘manageable’ countries.

‘Regime change’ runs against the intent, the very words contained in the US Constitution. No one in MSM ever reminds us of that fact. Nevertheless America’s ambition to overthrow other States continues, which they arrogantly now make no secret of. The next States will probably be Nicaragua then Iran to name but two.

A very noteworthy most recent outrageous unilateral declaration was made by President Trump, not yet formally agreed by US institutions, ‘giving’ something he has no authority to give; Syrian territory, the Golan Heights to be precise, to Israel. Something that one day could trigger a full scale Arab-Israeli War.

This is of extreme importance yet no real outcry comes from world leaders; well not so far.

The main reason for that decision given by senior US Administration figures is that “God anointed Trump to save the Jews”.

Not forgetting Trump’s need (which we the people don’t understand exactly why) to support Prime Minister Netanyahu in his difficult upcoming elections in Israel – in part because both countries failed to ‘regime change’ Syria – but more importantly to help the ‘financial terrorists’ who formed a company jointly that has already started drilling for oil in the Golan Heights. You might like to know who owns such oil drilling company which should answer a plethora of questions in one go that you must be asking yourselves.

The shareholder’s names tells us everything; Dick Cheney; Baron Rothschild and Rupert Murdoch. The titular heads of neocons, bankers and media on the planet.

In ending there is no more evidence required for us, the people of the world, to rise up against the globalist dark forces wherever they exist, be it in Brussels, London, France or Washington. We must demand democratic elections or start revolutions, the latter has already begun in France in the form of ‘the yellow vests’. And Brexit, by definition, is a rejection by the British people of globalism and American Hegemony.

The pattern of US destabilization and destruction of States to loot them of their sovereign resources is the unseen history of the last 100 years, not taught in any university, anywhere in the West.

As far as Ukraine is concerned, its government was taken down by the CIA and replaced by an ultra fascist regime that has full backing from America. This is no secret. But the MSM simple don’t report it.

US led NATO is ‘the transnational war machine’ of the world, devouring almost all free countries wealth. It can extort to terrorize all into conformity to the global ‘carcinogenic’ US Neocon imperialistic strategy.

A total estimated 20m people around the world have died since the end of WW11 at the hands of US Forces. Think about that for a moment.

One of the most famous sayings attributed to America’s great President Abraham Lincoln is about deception: “You can fool all the people some of the time and some of the people all the time, but you cannot fool all the people all the time.”

Liked it? Take a second to support The Duran on Patreon!
Continue Reading

Latest

‘Dark day for internet freedom’: EU approves controversial copyright reform

Julia Reda, a German MEP with the Pirate Party, described it as a “dark day for internet freedom.”

RT

Published

on

By

Via RT


The European Parliament has voted to adopt the highly controversial Article 13 provision which would govern the production and distribution of content online under the auspices of increasing copyright protections.

Tuesday’s move will update the EU’s 20-year-old copyright rules and will govern everything from audiovisual content to memes, much to the dismay of many social media users who have already begun outpouring their grief online.

MEPs passed the legislation by 348 votes to 274 Tuesday. Opponents had hoped for last-minute amendments to be made but their efforts were in vain.

Julia Reda, a German MEP with the Pirate Party, described it as a “dark day for internet freedom.”

Article 13 or ‘The Directive on Copyright in the Digital Single Market’ makes all platforms legally responsible for the content hosted and shared on their platforms.

The process of updating the bloc’s copyright laws began in the European Commission two years ago, ostensibly to protect Europe’s publishers, broadcasters and artists and guarantee fair compensation from big tech companies.

By essentially forcing companies like Google, Facebook and Twitter to pay artists and publishers for the reproduction of their work online, include in meme format, the EU is effectively clamping down on online memery.

The onus will now be on tech companies to clamp down on content-sharing on their platforms, which will likely ensure yet more draconian policing of speech and content.

EU member states now have two years to pass their own laws putting Article 13 into effect.

Tens of thousands marched in protest across Germany ahead of the vote, decrying what they viewed as severe online censorship.

Tech giant Google said that while the directive is “improved” it will still lead to legal uncertainty and will damage Europe’s creative and digital economies.

Critics have argued that the only way for Article 13 to be effectively enforced would be through the use of upload filters which automatically check content to see if it’s copyrighted or not, at least in theory. However, the exact mechanics of such a system have yet to be fully debated and the potential for abuse is immediately clear.

Liked it? Take a second to support The Duran on Patreon!
Continue Reading

JOIN OUR YOUTUBE CHANNEL

Your donations make all the difference. Together we can expose fake news lies and deliver truth.

Amount to donate in USD$:

5 100

Validating payment information...
Waiting for PayPal...
Validating payment information...
Waiting for PayPal...
Advertisement

Advertisement

Quick Donate

The Duran
EURO
DONATE
Donate a quick 10 spot!
Advertisement
Advertisement

Advertisement

The Duran Newsletter

Trending