Thursday, April 16, 2015

Banker's Debt Keeping Greece Down

"Greece misses deficit target as bailout deadline looms" Associated Press  April 16, 2015

ATHENS — Cash-strapped Greece fell well short of its budget deficit reduction targets last year, official figures showed Wednesday in a development that is likely to add pressure on the radical left-led government during tortuous talks with bailout creditors....

What, they water-boarding the bankers now?

After stripping out the cost of servicing Greece’s crippling public debt, a modest primary surplus of 0.4 percent was recorded.

In other words, were the bankers not $crewing Greece they wouldn't be in any trouble at all.


Meanwhile, the Standard and Poor’s rating agency has downgraded Greece’s sovereign credit rating further into junk status, saying it expects the country’s financial commitments would be unsustainable without ‘‘deep economic reform or further relief.’’

The agency downgraded Greece to CCC+ from B- Wednesday, with a negative outlook ‘‘given the risk of further worsening in liquidity for the sovereign, the banks, and the economy.’’

Honestly, who gives a damn what S&P say? They rated the mortgaged-backed securities as AAA, and then turned around and said only our opinion, don't go by it.

It said the country’s solvency ‘‘hinges increasingly on favorable business, financial, and economic conditions. In our view, these conditions have worsened due to the uncertainty stemming from the prolonged negotiations between the almost three-month-old Greek government and its official creditors.’’

Greece has been surviving on rescue loans from its European partners and the International Monetary Fund since mid-2010, and the new government won a four-month extension to the main European part of its bailout in February.

An amazing statement considering that servicing those loans put them into debt! 

Can you see why I'm sick of this disingenuous media?

Under the extension agreement, Athens must present a series of economic reform measures that meet the approval of its creditors. 

That "radical-left" government is nothing of the sort, and just another in a long line of banker servants. The Greeks have been had!

Authorities are hoping for a final agreement next week, when all 19 finance ministers from the eurozone countries, including Greece’s Yanis Varoufakis, meet April 24 in the Latvian capital of Riga.

Anyone know who is presidential of Latvia?


Related: Greek Mi$ery

Look who is coming to help:

"Putin offers cooperation with Greece — but no financial aid" by Nataliya Vasilyeva Associated Press  April 09, 2015

MOSCOW — President Vladimir Putin offered Wednesday to increase cooperation with Greece on energy and industry but stopped short of extending financial aid that might complicate Greece’s talks with European creditors.

After a meeting with Prime Minister Alexis Tsipras of Greece, Putin dismissed allegations that Moscow is trying to woo Greece in order to split the European Union and weaken its resolve to punish Russia over its actions in Ukraine.

Ahead of the leaders’ meeting, there was also speculation that Tsipras might seek aid from Russia to gain a bargaining chip with its European creditors. Greece is in heated negotiations with the creditors, who want it to agree to reforms before they provide more rescue loans.

Greece will run out of funds within weeks without more aid, and some observers alleged that Tsipras was trying to blackmail the EU by holding out the prospect of a deal with Russia.

That means coup and invasion like in Ukraine.

But Putin said after the talks that Greece has not asked for aid, though he made it clear that Russia wants to deepen its energy and industrial cooperation with Greece.

He offered to set up agricultural joint ventures with Greece to allow it to resume its foods exports, which were blocked last year under Russia’s ban on Western food in retaliation to the EU sanctions.

Putin said they discussed a possible Russian investment in energy and other projects.

He suggested extending a gas pipeline to Turkey into Greece, saying that such a move would increase its clout and earn it hundreds of millions of dollars in transit payments. ‘‘It will increase Greece’s geopolitical status and make it a major transit country,’’ he said.

Putin pulled the plug in December on a gas pipeline project called South Stream that would have run to Bulgaria, citing EU opposition. Russia announced an intention to build a pipeline to Turkey instead.

Putin also said that Russian companies could be interested in bidding for infrastructure, energy, and other assets that Greece could privatize.

Asked if Russia is using Greece as a Trojan horse meant to split Europe’s united front on sanctions against Russia, Putin said Moscow is ‘‘not trying to convince or coerce anyone to do anything.’’

That's the way the EUSraeli Empire does things.



"Thousands of Greek miners march in job protest" AP  April 17, 2015

ATHENS — Workers at a northern Greek gold mine and their supporters marched through Athens on Thursday in the most significant labor challenge the new radical left-led government has faced since its election in January.

Gold is very important, but the paper likes to keep quiet about it.

Some 4,000 people in fluorescent green vests took part in the protest, waving flags and chanting slogans and forcing police to shut down major roads for hours.

Mine workers fear they will lose their jobs because the governing Syriza party has fought the privately owned mine on environmental and financial grounds.

The Skouries gold mine has divided residents in the northern Greek peninsula of Halkidiki, and marches for and against the project in recent years have turned violent.

It's the age old stories from King Midas on down, huh? Then there is the black gold they wage wars over today while we are given the cover of religion, terror, whatever.

Leftist and anarchist groups gathering for an anti-mine protest in Athens later Thursday clashed with riot police, who responded with tear gas and stun grenades.

Gee, change a government to a radical one and nothing's changed.

Residents of some villages around the mine back the Canadian-led investment, which has created 2,000 jobs. But others oppose the mine, arguing it harms the environment.

I'm at the point where I believe we should all be poisoned because economy should be placed number one -- and we can argue about the taxes needed to fund the cleanup of planet earth, 'kay? Bankers need that gold!

The government has temporarily revoked a permit for a key ore enrichment plant, and it accuses the Eldorado Gold mining company of encouraging the protests.

Eldorado Gold geologist Dimitris Ballas said workers are concerned that the company will be forced to cancel its investment and leave Greece if there is no progress.

Ismet Ali Chotza, deputy director of supplies, said about 6,000 of the region’s 18,000 people are dependent on the area’s mines, including families of employees and other related businesses in the area.