The Greek « reform » is a farce

Please translate link if you don’t read German..



so called promises..

Is to…

Fight petrol smugling 1.5 bln
Fight cigaret smugling 0.8 bln
Get 2.5 bln corporate taxes already owned in…

If this is accepted by EU.. its a victory for non compliance and a big loss for Germany and the EU.

This is the absolute peak in extend and pretend… I can’t imagine a worse deal for both sides…

It does nothing for Greece ability to move agenda forward and adress the real issues..

EU financial examination losses all credibility.. or what’s left of it..

Next up is further extensions of debt deadlines,  zero credit for any nation who does not want to commit to reforms…

Sad sad day for Greece and Europe, but also shows that we need new solutions…

Steen Jakobsen, Chief Economist at Saxo Bank and member of Les Econoclastes

2 réponses
  1. passant
    passant dit :

    Please translate if you don’t read french

    Alors là c’est assez drôle, en quoi ces prévisions seraient pire que celle élaborées par les  »institutions EU » ?

    Si j’ai bien compris (si la traduction a été bonne), accepter ça décrédibiliserai les institutions EU !! Ah, Ah, Ah… Je rigole
    – Et le traffic des comptes de la Grèce pour rentrer dans l’UE, c’est pas déjà une preuve de niaiserie des institutions EU ?
    – Et toutes ces banques privés, états, fonds, etc… qui ont acheté des dettes de la grèce, c’est pas déjà une preuve de la niaiserie des institutions ?
    – Et accepter que certains pays intègre drogue et prostitution dans le PIB, c’est pas déjà une preuve de la niaiserie des des institutions ? Laissons la grèce intégrer la corruption dans son PIB (c’est un échange après tout) et l’excédent primaire va monter en flèche !!

    Ah, Ah, Ah, je rigole bien, cette prise de positions voudrai nous faire croire que les institutions sont encore crédible, alors qu’en prétendant tout gèrer à notre place (et en s’en donnant le droit) elles ne peuvent être que les SEULES responsables de tout ce marasme.

  2. zikipediq
    zikipediq dit :

    Anybody who does the Greek debt arithmetic (and it sometimes seems that nobody in Brussels, Berlin or the British media actually does – or can,) knows that Greece cannot repay its external debts, now around 170% of GDP, without a level of pain that is simply beyond the tolerance of democratic societies’. Furthermore, because of rules imposed by Brussels on members of the Euro single currency system in relation to welfare, immigration and financial policy, even with interest rates at or close to zero per cent, Greece could not repay existing debt as fast as it needs to borrow new money to stay afloat.
    It is widely believed that Greece’s bailout by the Troika, to the tune of 226 billion euros, was mainly aimed at keeping the bankrupt Greek state afloat, maintaining its basic operations and paying the salaries of its overpaid, skiving public workers. WRONG.

    The bulk of the bailout money actually went to the country’s banks and foreign creditors, mostly French and German banks. In other words, more than 80 per cent of the bailout funds were used to indemnify, either directly or indirectly, the financial sector (both Greek and foreign) against losses incurred due to their irresponsible lending to bad risk clients. Neither the Greek state nor its people saw any tangible benefit.
    What happened in Greece is also what was done in South America and Eastern Europe. Disaster and delirious liberalism. Setting in train a deliberate policy aimed at encouraging debt by making cheap money available, then imposing predatory conditions, and then using the ensuing chaos and smoking ruins to take full control over their political, economic and financial systems…

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