Connect with us

Latest

Hellenic Insider

Greece

Greece’s government is ready for battle with its creditors

Alternate Minister for International Economic Relations Euclid Tsakalotos said that if negotiations don’t go well, the government is prepared for a “rupture” with its partners.

Alex Christoforou

Published

on

0 Views

Post originally appeared on Yahoo News.

Greece’s government is prepared for a “rupture” with creditors in its bailout talks and is being deliberately vague about its intentions as a negotiating tactic, a cabinet minister said Friday.

Separately, a government official said Greece has made clear during negotiations with the eurozone and International Monetary Fund that the country “will not continue servicing its public debt through its own means, if the creditors don’t proceed directly with the disbursement of (bailout) installments delayed since 2014.”

The official spoke only on condition of anonymity in line with government rules.

Greece has been unable to borrow on international markets since 2010 due to high borrowing rates that reflect a lack of investor confidence in the country. It has relied since then on funds from a 240 billion euro ($260 billion) bailout from other eurozone countries and the International Monetary Fund.

But its creditors are refusing to release the last installment, worth more than 7 billion euros, unless the government produces an acceptable list — by Monday — of reforms aiming to restore the country’s tattered economy. The country faces a credit crunch, with estimates it will run out of cash sometime in April.

“It is hard to know whether the government’s claim that it cannot continue servicing its debt without more bailout funds is a threat or just a statement of fact,” said Megan Greene, chief economist at Manulife Asset Management. “Either way, the German response will be the same as always: implement reforms and you will get bailout funding, otherwise forget it.”

European economic powerhouse Germany is Greece’s largest single creditor, and has been the most vocal critic of Athens’ handling of its financial crisis.

With a severe credit crunch looming, “the only option for Greece to get money relatively quickly is to propose serious reforms on Monday and begin implementing them immediately,” said Greene.

German central bank president Jens Weidmann told Germany’s Focus magazine that not paying creditors would inevitably lead to default.

“If a member country of the currency union decides not to fulfill obligations, and stops the payments to bondholders, then a disorderly default in fact cannot be avoided,” Focus quoted Weidmann as saying on its website.

“The economic and social consequences would be severe for Greece and anything but recommended.”

He said other countries’ governments “have the impression that a solution can still be reached, and are therefore continuing the talks. But we do not have much time left.”

In Athens, Alternate Minister for International Economic Relations Euclid Tsakalotos said that if negotiations don’t go well, the government is prepared for a “rupture” with its partners.

Responding to a question on private Star TV, Tsakalotos said the government would not be negotiating properly if it didn’t envisage a rupture, although he would not be drawn on what that might entail.

The minister also said the government was intentionally being vague about its intentions with its partners as a negotiating tactic.

“We create ambiguity with our partners about our intentions, deliberately, because they must know that we are ready for a rupture,” he said. “Otherwise you don’t negotiate.”

A government official said the reform list was to be discussed in Brussels by representatives of the creditors, dubbed the “Brussels Group,” on Saturday.

The reforms are expected to generate 3 billion euros in revenue in 2015, the official said, adding that the measures do not include cuts in salaries or pensions, and would not push the economy into recession. No details on the exact reforms were made public.

References:

http://news.yahoo.com/greek-minister-government-ready-rupture-aid-talks-132931862–finance.html

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

10
Leave a Reply

avatar
10 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
0 Comment authors
Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
trackback

ccn2785xdnwdc5bwedsj4wsndb

[…]very couple of web sites that occur to be comprehensive beneath, from our point of view are undoubtedly nicely really worth checking out[…]

trackback

c8n75s5tsndxcrsfsfcscjkfsk

[…]Wonderful story, reckoned we could combine a few unrelated information, nonetheless definitely worth taking a search, whoa did a single discover about Mid East has got more problerms too […]

trackback

Title

[…]one of our guests just lately advised the following website[…]

trackback

Title

[…]usually posts some really exciting stuff like this. If you’re new to this site[…]

trackback

Title

[…]Here are a number of the sites we advise for our visitors[…]

trackback

Title

[…]Here are a few of the web sites we suggest for our visitors[…]

trackback

Title

[…]Wonderful story, reckoned we could combine a couple of unrelated information, nonetheless really worth taking a look, whoa did a single find out about Mid East has got a lot more problerms also […]

trackback

Title

[…]usually posts some extremely interesting stuff like this. If you’re new to this site[…]

trackback

… [Trackback]

[…] Read More here|Read More|Find More Infos here|There you will find 20140 more Infos|Informations to that Topic: hellenicinsider.com/greeces-government-is-ready-for-battle-with-its-creditors/ […]

trackback

… [Trackback]

[…] Read More on|Read More|Find More Infos here|Here you will find 82151 additional Infos|Informations on that Topic: hellenicinsider.com/greeces-government-is-ready-for-battle-with-its-creditors/ […]

Latest

Tape recorded evidence of Clinton-Ukraine meddling in US election surfaces (Video)

The Duran Quick Take: Episode 114.

Alex Christoforou

Published

on

RT CrossTalk host Peter Lavelle and The Duran’s Alex Christoforou take a look at new evidence to surface from Ukraine that exposes a plot by the US Embassy in Kiev and the National Anti-Corruption Bureau of Ukraine (NABU) to leak Paul Manafort’s corrupt dealings in the country, all for the benefit of Hillary Clinton during the 2016 U.S. presidential election.

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

Follow The Duran Audio Podcast on Soundcloud.

Via Zerohedge


Ukraine’s Prosecutor General Yuriy Lutsenko has launched an investigation into the head of the Ukrainian National Anti-Corruption Bureau for allegedly attempting to help Hillary Clinton defeat Donald Trump during the 2016 US election by releasing damaging information about a “black ledger” of illegal business dealings by former Trump campaign chairman Paul Manafort.

The Hill’s John Solomon, Ukrainian Prosecutor General Yuriy Lutsenko

“Today we will launch a criminal investigation about this and we will give legal assessment of this information,” Lutsenko said last week, according to The Hill

Lutsenko is probing a claim from a member of the Ukrainian parliament that the director of the National Anti-Corruption Bureau of Ukraine (NABU), Artem Sytnyk, attempted to the benefit of the 2016 U.S. presidential election on behalf of Hillary Clinton.

A State Department spokesman told Hill.TV that officials aware of news reports regarding Sytnyk. –The Hill

“According to the member of parliament of Ukraine, he got the court decision that the NABU official conducted an illegal intrusion into the American election campaign,” said Lutsenko, speaking with The Hill’s John Solomon about the anti-corruption bureau chief, Artem Sytnyk.

“It means that we think Mr. Sytnyk, the NABU director, officially talked about criminal investigation with Mr. [Paul] Manafort, and at the same time, Mr. Sytnyk stressed that in such a way, he wanted to assist the campaign of Ms. Clinton,” Lutsenko continued.

Solomon asked Lutsenko about reports that a member of Ukraine’s parliament obtained a tape of the current head of the NABU saying that he was attempting to help Clinton win the 2016 presidential election, as well as connections that helped release the black-ledger files that exposed Trump campaign chairman Paul Manafort‘s wrongdoing in Ukraine.

“This member of parliament even attached the audio tape where several men, one of which had a voice similar to the voice of Mr. Sytnyk, discussed the matter.” –The Hill

What The Hill doesn’t mention is that Sytnyk released Manafort’s Black Book with Ukrainian lawmaker Serhiy Leshchenko – discussed in great length by former Breitbart investigator Lee Stranahan, who has been closely monitoring this case.

Serhiy Leshchenko

T]he main spokesman for these accusations was Serhiy Leshchenko, a Ukrainian politician and journalist who works closely with both top Hillary Clinton donors George Soros and Victor Pinchuk, as well as to the US Embassy in Kyiv.

James Comey should be asked about this source that Leshchenko would not identify. Was the source someone connected to US government, either the State Department or the Department of Justice?

The New York Times should also explain why they didn’t mention that Leshchenko had direct connections to two of Hillary Clinton biggest financial backers. Victor Pinchuk, the largest donor to the Clinton Foundation at a staggering $8.6 million also happened to have paid for Leshchenko’s expenses to go to international conferences. George Soros, whose also founded the International Renaissance Foundationthat worked closely with Hillary Clinton’s State Department in Ukraine, also contributed at least $8 million to Hillary affiliated super PACs in the 2016 campaign cycle. –Lee Stranahan via Medium

Meanwhile, according to former Fusion GPS contractor Nellie Ohr, Leshchenko was a source for opposition research firm Fusion GPS, which commissioned the infamous Trump-Russia dossier.

Nellie Ohr, a former contractor for the Washington, D.C.-based Fusion GPS, testified on Oct. 19 that Serhiy Leshchenko, a former investigative journalist turned Ukrainian lawmaker, was a source for Fusion GPS during the 2016 campaign.

“I recall … they were mentioning someone named Serhiy Leshchenko, a Ukrainian,” Ohr said when asked who Fusion GPS’s sources were, according to portions of Ohr’s testimony confirmed by The Daily Caller News Foundation. –Daily Caller

Also absent from The Hill report is the fact that Leshchenko was convicted in December by a Kiev court of interfering in the 2016 US election.

A Kyiv court said that a Ukrainian lawmaker and a top anticorruption official’s decision in 2016 to publish documents linked to President Donald Trump’s then-campaign chairman amounted to interference in the U.S. presidential election.

The December 11 finding came in response to a complaint filed by another Ukrainian lawmaker, who alleged that Serhiy Leshchenko and Artem Sytnyk illegally released the documents in August 2016, showing payments by a Ukrainian political party to Trump’s then-campaign chairman, Paul Manafort.

The documents, excerpts from a secret ledger of payments by the Party of Regions, led to Manafort being fired by Trump’s election campaign.

The Kyiv court said that the documents published by Leshchenko and Sytnyk were part of an ongoing pretrial investigation in Ukraine into the operations of the pro-Russian Party of Regions. The party’s head had been President Viktor Yanukovych until he fled the country amid mass protests two years earlier.

-RadioFreeEurope/Radio Liberty (funded by the US govt.).

So while Lutsenko – Solomon’s guest and Ukrainian Prosecutor is currently going after Artem Sytnyk, it should be noted that Leshchenko was already found to have meddled in the 2016 US election.

Watch:

Meanwhile, you can also check out Stranahan’s take on Leshchenko being left out of the loop.

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

Latest

‘I will take over as Brexit Party leader’: Nigel Farage back on the frontline

Nigel Farage says that if the UK takes part in European elections, he will lead his new Brexit Party.

RT

Published

on

By

Via RT


Former UKIP leader Nigel Farage has announced that he will lead his new Brexit Party into the European elections if UK MPs decide to delay Brexit beyond May 22.

Farage, who has ostensibly appointed himself leader, told various media, including the BBC and Sky News on Friday morning: “I will take over as leader of the Brexit Party and lead it into the European Elections.”

It comes after the Brexit Party’s leader, Catherine Blaiklock, quit over a series of alleged Islamophobic statements and retweets of far-right figures on social media.

It is not yet thought that Farage has officially been elected as leader, as the party does not, as yet, have a formal infrastructure to conduct such a vote.

The right-wing MEP vowed to put out a whole host of Brexit Party candidates if the UK participates in the upcoming EU elections in May, adding: “If we fight those elections, we will fight them on trust.”

On Thursday night, the EU agreed to PM May’s request for a delaying to Brexit beyond the March 29 deadline. Brussels announced two new exit dates depending on what happens next week in the UK parliament.

The UK will have to leave the bloc on April 12 unless British MPs agree to May’s Brexit deal. If the withdrawal agreement is passed by next week, EU leaders have agreed to grant an extension until May 22.

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

Latest

Baltics cannot rely on Germany any more

The matter is NATO today is not as strong as it is supposed to be. And it is not only because of leadership blunders.

The Duran

Published

on

Submitted by Adomas Abromaitis…

On March 29 Latvia, Lithuania and Estonia will celebrate 15 years of becoming NATO member states. The way to the alliance membership was not simple for newly born independent countries. They have reached great success in fulfilling many of NATO demands: they have considerably increased their defence expenditures, renewed armaments and increased the number of military personnel.

In turn, they get used to rely on more powerful member states, their advice, help and even decision making. All these 15 years they felt more or less safe because of proclaimed European NATO allies’ capabilities.

Unfortunately, now it is high time to doubt. The matter is NATO today is not as strong as it supposed to be. And it is not only because of leadership’s blunders. Every member state does a bit. As for the Baltic states, they are particularly vulnerable, because they fully depend on other NATO member states in their defence. Thus, Germany, Canada and Britain are leading nations of the NATO battle group stationed in Lithuania, Latvia and Estonia respectively.

But the state of national armed forces in Germany, for example, raises doubts and makes it impossible not only defend the Baltics against Russia, but Germany itself.

It turned out, that Germany itself remains dissatisfied with its combat readiness and minister of defence’s ability to perform her duties. Things are so bad, that the military’s annual readiness report would be kept classified for the first time for “security reasons.”

“Apparently the readiness of the Bundeswehr is so bad that the public should not be allowed to know about it,” said Tobias Lindner, a Greens member who serves on the budget and defense committees.

Inspector General Eberhard Zorn said (https://www.reuters.com/article/us-germany-arms/germany-not-satisfied-with-readiness-of-submarines-some-aircraft-idUSKBN1QS1G7) the average readiness of the country’s nearly 10,000 weapons systems stood at about 70 percent in 2018, which meant Germany was able to fulfill its military obligations despite increasing responsibilities.

No overall comparison figure was available for 2017, but last year’s report revealed readiness rates of under 50 percent for specific weapons such as the aging CH-53 heavy-lift helicopters and the Tornado fighter jets.

Zorn said this year’s report was more comprehensive and included details on five main weapons systems used by the cyber command, and eight arms critical for NATO’s high readiness task force, which Germany heads this year.

“The overall view allows such concrete conclusions about the current readiness of the Bundeswehr that knowledge by unauthorized individuals would harm the security interests of the Federal Republic of Germany,” he wrote.

Critics are sure of incompetence of the Federal Minister of Defence, Ursula von der Leyen. Though she has occupied the upper echelons of German politics for 14 years now — and shows no sign of success. This mother of seven, gynecologist by profession, by some miracle for a long time has been remaining in power, though has no trust even among German military elites. Despite numerous scandals she tries to manage the Armed Forces as a housewife does and, of course, the results are devastating for German military capabilities. The same statement could be easily apply for the Baltic States, which highly dependent on Germany in military sphere.

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