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Greece Agreement Reached

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Ether_Snake

安安安安安安安安安安安安安安安
Varoufakis acted correctly all along, it isn't he who will get tge blame, wishful thinkers. It will be the Troika and Tsipras.
 

RaGe_pt

Member
What a ridiculous agreement we saw today. If I was greek I would be pissed off after voting No to the previous agreement and having now this one that is way worse than the other. We are facing crucial times in Europe and many people have no idea of how big of a deal this is. I worry that the nazis over there will start gaining momentum...
 

petran79

Banned
Wouldn't be surprised. Either way he'd have to do so after the vote and you'd still have people bitching that he's only doing that to show off, so w/e.

What exactly are you complaining about now?

He could just be in parlament voting either "no" or "present"

He chose to be absent, like the other 6 SYRIZA members.
The issue is he did not said he was absent due to disagreeing with the new measures
He just cited family reasons
The other 4 members who werent present cited the did this because they disagreed with voting such measures
 

KingSnake

The Birthday Skeleton
http://www.telegraph.co.uk/finance/...ng-treated-like-a-hostile-occupied-state.html

A new deal for Athens is the worst of all worlds and solves nothing

EMU inspectors can veto legislation. The emasculation of the Greek parliament has been slipped into the text. All that is missing is a unit of EMU gendarmes.

Such terms are unenforceable. The creditors have sought to nail down the new memorandum by transferring €50bn of Greek assets to “an independent fund that will monetise the assets through privatisations and other means”. It will be used in part to pay off debts.

This fund will be under EU "supervision". The cosmetic niceties of sovereignty will be preserved by letting the Greek authorities manage its day to day affairs. Nobody is fooled.

In other words, they are seizing Greece’s few remaining jewels at source. This is not really different from the International Committee for Greek Debt Management in 1898 imposed on Greece after the country went bankrupt following a disastrous Balkan war.

The crushed Syriza leader must sell a settlement that leaves Greece in a permanent debt trap, under neo-colonial control, and so economically fragile that it is almost guaranteed to crash into a fresh crisis in the next global downturn or European recession.

For the eurozone this “deal” is the worst of all worlds. They have solved nothing. Germany and its allies have for the first time attempted to eject a country from the euro, and by doing so have violated the sanctity of monetary union.

Rather than go forward in times of deep crisis to fiscal and political union to hold the euro together – as the architects of EMU always anticipated - they have instead gone backwards.

They have at a single stroke converted the eurozone into a hard-peg currency bloc, a renewed Exchange Rate Mechanism that is inherently unstable, at the whim and mercy of populist politicians playing to the gallery at home. The markets are already starting to call it ERM3.

I will return to the behaviour of Germany and the diplomatic disaster that has unfolded over coming days. For now let me just quote the verdict of historian Simon Schama.

“If Tsipras was wearing the crown of King Pyrrhus this time last week, Merkel is wearing it now. Her ultimatum the beginning of the end of the EU,” he said. Exactly.

Besides the opinionated conclusions, the article goes into the depth of most important proposed measures and their most probable outcome.
 
I'm still reeling but I feel uneasy about the whole deal TBH.
This will be used as an example of sovereignty loss by eurosceptics everywhere and they won't be wrong.
 
It's an experience to come back from a long weekend with no connection to the outside world and find out everything has gone to shit in more ways than one.
Good job, Europe! At least back when we warring against one another we were honest about our intentions

I don't remember that Germany got 86 billions as part of the Versailes Treaty.

86 whole billions to invest on greek economy and economical reforms that will fuel the economy back on it's feet I'm sure!
 

Y2Kev

TLG Fan Caretaker Est. 2009
The Varoufakis interview that was linked earlier is pretty good. He talks in very flowery language but there's no doubt he knows what he's talking about.
 
So go all the way and either vote against it in the parliament or resign all the way, no need to half-ass it.

He could just be in parlament voting either "no" or "present"

He chose to be absent, like the other 6 SYRIZA members.
The issue is he did not said he was absent due to disagreeing with the new measures
He just cited family reasons
The other 4 members who werent present cited the did this because they disagreed with voting such measures

Both of you are essentially complaining about Yanis not being endowed with the political acumen of a flower pot.

He supported the referendum, that alone is enough to hold him partially responsible.

Problem wasnt holding the referendum so much as failing to capitalize on its result. And the refusal to do that rests on the shoulders of another man.
 

Y2Kev

TLG Fan Caretaker Est. 2009
I think everybody thought Varoufakis took the fall as a sign of good faith on the part of Tsipiras. I didn't realize he basically said bye biotch. Haha.
 

LJ11

Member
Varoufakis has made plenty of mistakes throughout, he deserves his share of the blame. Last couple of weeks were disgraceful, outright lies. Yanis loves to write and talk, that's what he does best, and he'll get his story out there for all to see, even though he was involved in 5 months of bickering that ultimately culminated with the longest bank holiday in modern history.

You could tell when Yani or Costa Lapavitsas were leaking shit to the media, they use the same conduits to get info out there.

Edit: Honestly, it's hard to see through the smoke. What a wild time, who knows what's what.
 
The Varoufakis interview that was linked earlier is pretty good. He talks in very flowery language but there's no doubt he knows what he's talking about.

Indeed.

HL: You’ve said creditors objected to you because “I try and talk economics in the Eurogroup, which nobody does.” What happened when you did?

YV: It’s not that it didn’t go down well – it’s that there was point blank refusal to engage in economic arguments. Point blank. … You put forward an argument that you’ve really worked on – to make sure it’s logically coherent – and you’re just faced with blank stares. It is as if you haven’t spoken. What you say is independent of what they say. You might as well have sung the Swedish national anthem – you’d have got the same reply. And that’s startling, for somebody who’s used to academic debate. … The other side always engages. Well there was no engagement at all. It was not even annoyance, it was as if one had not spoken.

This is exactly how I've imagined all these talks to have gone down. An economist with an academic background questioning the rule book and trying to have a debate on principles vs. a group of lawyers, technocrats and accountants firmly insisting on sticking to the rules and contractual obligations. Situations like these are hopeless, they might as well have talked to each other in two different languages.

The sad thing is that Varoufakis' analysis of the entire mess probably was and still is correct, but he was absolutely in over his head as a politician and a diplomat.
 
Germany's attitude is what shocked me yesterday and I'm kinda heartbroken as dumb as that sounds. I always loved Germany, always defended Germany and always felt like a German (in addition to being a Greek). But after what they've done yesterday I'm not so sure about those things anymore.

Don't confuse German people with German politicians, they' re better than this, i mean it's not like they know our situation from the inside. If i had to rely only on media as well, i could have their distorted perspective as well. Shauble's machiavellianism and his lackies' offences do not reflect the whole mindshare.
You could say the same about us and the governments of the last 40 years.

Anyway, what is true, is that this is the first time that Germany's external affairs policy on the euro has been openly called out by numerous sides all over the world. This goes against the "lazy greeks" narrative that was prevalent till now.

Except Greece has far less capacity to transform itself into a vindictive conquering asshole.
rimshot

Me and a lot of Greeks lost all respect for him when during the voting for the new measures he chose to go for baths at sea instead
Not really, it's just what our pro YES media would have you believe.
http://www.zougla.gr/apopseis/article/gia-des-re-pi-tin-peftoun-ston-varoufaki

Ps Varoufakis will go down in the history books as someone who's caused untold damage to the Greek economy
Wrong

BTW anyone curious about the ESM should see this short video:
https://www.youtube.com/watch?v=n6jeIwFld3Q
This really is war, except with banks instead of tanks
 
The sad thing is that Varoufakis' analysis of the entire mess probably was and still is correct, but he was absolutely in over his head as a politician and a diplomat.

The main thing that i took from that whole interview is that those meetings should be openly televised asap. Fuck waiting for a joint statement and leaks. It's transparency or bust.
 

KingSnake

The Birthday Skeleton
If Yanis would have been a politician, once he resigned as finmin he would have raised the flag of opposition to the deal proposed by Tsipras. But he's not a politician. His weapons are these articles and academic analysis.
 

gofreak

GAF's Bob Woodward
In terms of the loss of sovereignty, or fiscal sovereignty, and the control Europe has now over Greece's budgets, is this much the same as Ireland had? I remember for some time everything budgets had to be approved by Europe.

It's no less debatable an issue, but is this a ground breaking thing? Or are the powers over budgets stronger in Greece's case than they were in Ireland's?
 

LJ11

Member
If Yanis would have been a politician, once he resigned as finmin he would have raised the flag of opposition to the deal proposed by Tsipras. But he's not a politician. His weapons are these articles and academic analysis.

He certainly tried to play the role of politician the last week or so, especially after the ref was announced. Was telling outright lies, he knew better than anyone that banks weren't opening any time soon, or that a deal wasn't even remotely ready, etc. But you know what, it was the circumstance of it all. You're not going to run out and tell people, "well, no matter how you vote the banks won't open and a deal isn't anywhere near ready!" Wish he would of just kept quiet.
 

KingSnake

The Birthday Skeleton
In terms of the loss of sovereignty, or fiscal sovereignty, and the control Europe has now over Greece's budgets, is this much the same as Ireland had? I remember for some time everything budgets had to be approved by Europe.

It's no less debatable an issue, but is this a ground breaking thing? Or are the powers over budgets stronger in Greece's case than they were in Ireland's?

Check the article that I linked before, it's talking about the loss of sovereignty.

http://www.telegraph.co.uk/finance/...ng-treated-like-a-hostile-occupied-state.html
 
64cXWqe.jpg


Damn near more reporters than protesters in that thing.

Which is kind of a shame, tbf
 

kiguel182

Member
Your statement doesn't make any sense. Unless you assume I'm Greek and you make this personal. I'm not. Put your hate to better use. I'm talking Economics.



Portugal debt to GDP is 130%. Exactly the ratio for Greece in 2009.



No, I didn't say that. And I don't accuse the Yesmen. They just either don't have much to say in the matter or are in PPE. They are just irrelevant in the big scheme.

Those 130% were after the IMF intervention, not before like Greece.
 
Correct me if i'm wrong..
Greece goes kaboom...
Europe tries to impose austerity measures..
Greece says no thank you, but let us make the citizens decide..
Citizens decide no..
Euro zone forces the hand an pass an EVEN WORSE deal
Greece accept

Uhm... Say what? If i was a greece i'd be pissed since as a greek i've just demostrated how my sovereignity has gone out in the cesspool, but on the top of that i even get the short end of the stick?
That's some cool shit..
 
D

Deleted member 231381

Unconfirmed Member
Those 130% were after the IMF intervention, not before like Greece.

Greece's wasn't 130% before the crisis. At the end of 2007 (last year before the crisis hit) it was at 107.4% [Eurostat]. That includes retrospective adjustments, too, so that's not a fudged figure. Portugal will almost certainly do a Greece when we hit the next recession.
 

KingSnake

The Birthday Skeleton
The Economist has also an opinion article on the negotiation outcome:

http://www.economist.com/news/europ...start-greece-greece-signs-painful-humiliating

But when they emerge from their post-summit slumbers they will face two awkward questions. First, how can they expect a government whose identity was forged in opposition to austerity and foreign tutelage to implement reforms that stymied its far more pliant predecessors? And second, how can a euro zone that was created to drive integration and foster trust between its members thrive when it appears to have had precisely the opposite effect?




Those 130% were after the IMF intervention, not before like Greece.

If that makes you feel somehow better, fine with me.
 

Theonik

Member
Uhm... Say what? If i was a greece i'd be pissed since as a greek i've just demostrated how my sovereignity has gone out in the cesspool, but on the top of that i even get the short end of the stick?
That's some cool shit..
The average Greek is still doomed because he still can't understand why the Euro is a TERRIBLE idea. I hope the recent experience will perhaps teach them.
Sadly it also means that Golden Dawn being the only party actually promising to end this madness will be the go-to option.
 

RaGe_pt

Member
Greece's wasn't 130% before the crisis. At the end of 2007 (last year before the crisis hit) it was at 107.4% [Eurostat]. That includes retrospective adjustments, too, so that's not a fudged figure. Portugal will almost certainly do a Greece when we hit the next recession.

That's what I (and many more portuguese people here) are worried about. What is happening in Greece might and will probably happen here as well if we follow the politics we are following right now. Austerity didn't help us in anything at all. I agre that we should cut costs in some areas but this is to much. This just shrinks our economy and fattens others. Today we witnessed a serious message from Germany to every other country in the EU that we should follow the rules or we will be crushed...
 
So I couldn't find details before but why even do this? Every site seems to be saying the new measures will be super harsh and guaranteed another recession for Greece. What exactly is the upside?
 
I'd like to see the shitshow of the EU conducting any military operation without the US or UK.
Indeed, they would be butchered.

Sadly it also means that Golden Dawn being the only party actually promising to end this madness will be the go-to option.
Well, hopefully there are 2 solutions till next elections (whenever those happen)
1) A new truly (meaning it does what it says on the tin) anti-austerity and grexit party takes shape, including people from all political sides like Varoufakis, Kammenos, Lapavitsas, etc. If they can amass a good amount of voters they can have a say in what goes down next.
2) Now is the best chance for Tsipras to really go all out on the big fishes that tax evade and have tens of billions stashed in Swiss banks, the need for state influx is critical, no one will object him on the contrary, he will gain public support. People like Zoe Konstantopoulou can help with that (btw Benizelos and other EU lapdogs are asking for her resign, after they got Varoufakis out of the picture. We' ll see how it goes)
 

petran79

Banned
Correct me if i'm wrong..
Greece goes kaboom...
Europe tries to impose austerity measures..
Greece says no thank you, but let us make the citizens decide..
Citizens decide no..
Euro zone forces the hand an pass an EVEN WORSE deal
Greece accept

Uhm... Say what? If i was a greece i'd be pissed since as a greek i've just demostrated how my sovereignity has gone out in the cesspool, but on the top of that i even get the short end of the stick?
That's some cool shit..

Things were shit for Greece prior to SYRIZA election
Difference is that the previous governments and their backed media did their secret dealings and hid from Greeks the seriousness of the situation, while accepting everything from the Troika. This government presented to us how things really are and what happens if you try to resist. It took a lot of shock from the hits and may not survive. Greece alone would never be able to change the way the EU works anyway. They said it openly, Greece had no other choice but to accept. But it is a small step forward. Now wages in Greece and quality of life will fall down even more.
 
Correct me if i'm wrong..
Greece goes kaboom...
Europe tries to impose austerity measures..
Greece says no thank you, but let us make the citizens decide..
Citizens decide no.
Greek government goes "lulz i wuz just havin a giggle m8's, here, i'll take your previous offer"
Euro zone goes "nope. you wanted to act like a big dick playa? well, guess what. our way or the highway, and our way is straight up shit creek"
Greek government accepts

fix'd

So I couldn't find details before but why even do this? Every site seems to be saying the new measures will be super harsh and guaranteed another recession for Greece. What exactly is the upside?

For the other countries
1. looting what they can
2. surviving their own electorate.

For greece:
1. stay in the Euro
2. bank runs
 
D

Deleted member 231381

Unconfirmed Member
So I couldn't find details before but why even do this? Every site seems to be saying the new measures will be super harsh and guaranteed another recession for Greece. What exactly is the upside?

Greece isn't sufficiently prepared to launch their own currency. They're at least 3 months away. That means Greece would have essentially no liquidity [or electronic only] for 3 months, which is a desperately difficult situation to be in. The other reason is just uncertainty. Nobody really knows what a Grexit would entail for sure. The oldest and strongest emotion of mankind is fear, and the oldest and strongest fear is the fear of the unknown.
 

AndyD

aka andydumi
That's what I (and many more portuguese people here) are worried about. What is happening in Greece might and will probably happen here as well if we follow the politics we are following right now. Austerity didn't help us in anything at all. I agre that we should cut costs in some areas but this is to much. This just shrinks our economy and fattens others. Today we witnessed a serious message from Germany to every other country in the EU that we should follow the rules or we will be crushed...

I think that's the idea.

And it was also a warning sign to several to shore up economies and spending/debt now before the next recession rather than think a country can live on the brink and then get bailed out when things go south. Not a bad lesson in theory, but a costly one for those involved.
 
fix'd



For the other countries
1. looting what they can
2. surviving their own electorate.

For greece:
1. stay in the Euro
2. bank runs

Are either of those actually positives for Greece?

Greece isn't sufficiently prepared to launch their own currency. They're at least 3 months away. That means Greece would have essentially no liquidity [or electronic only] for 3 months, which is a desperately difficult situation to be in. The other reason is just uncertainty. Nobody really knows what a Grexit would entail for sure. The oldest and strongest emotion of mankind is fear, and the oldest and strongest fear is the fear of the unknown.

Yeah, I guess I can get that. It's just that every place seems to be painting this austerity in such a negative light that it's getting hard to see the upside.
 

Theonik

Member
Greece isn't sufficiently prepared to launch their own currency. They're at least 3 months away. That means Greece would have essentially no liquidity [or electronic only] for 3 months, which is a desperately difficult situation to be in. The other reason is just uncertainty. Nobody really knows what a Grexit would entail for sure. The oldest and strongest emotion of mankind is fear, and the oldest and strongest fear is the fear of the unknown.
The problem is that there is a huge logistical challenge to preparing a new currency which can be overcome, but is not easy to overcome in secret which any such backup plan would require. Any attempt to switch to a new currency would go public and cause huge disruptions in this climate. The EU will take advantage of this to sabotage the move.

Then again the Greek government was able to construct 155km of fortifications in the 1930s in absolute secrecy.
 
The problem is that there is a huge logistical challenge to preparing a new currency which can be overcome, but is not easy to overcome in secret which any such backup plan would require. Any attempt to switch to a new currency would go public and cause huge disruptions in this climate. The EU will take advantage of this to sabotage the move.

Then again the Greek government was able to construct 155km of fortifications in the 1930s in absolute secrecy.

No Twitter in 1930..
 
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