Greece to get third bailout totaling €86bn , Grexit crisis over ... until next time

After what seems like an eternity Greece will now get the third bailout it was looking for , Tsipras marched his country to the top of the Grexit hill then came scurrying back down again as the view from the top was non too pleasant , so after a pointless referendum and weeks of political gesturing and meetings we're back at square one , Greece will have to face more austerity as well as sell off its assets .... wonder who's friends and family will be in line at that fire sale !

Jean-Claude Juncker had this to say about the deal.

Mr Juncker said: "In this compromise, there are no winners and no losers.
"I don't think the Greek people have been humiliated, nor that the other Europeans have lost face. It is a typical European arrangement."
www.bbc.co.uk...

I agree with him there are no winners in this but think the losers will be the peoples of Europe and Greece , for him to say that the Greek people have not been humiliated or that Europeans have not lost face is just another example of a politicians words not matching the facts.

This deal wasn't about Greece or the Greek people it was about the EU keeping their precious union in one piece at any cost , but when a house of cards is built on unstable foundations it will fall .... sooner or later.

a reply to: gortex

Wow, how did I even think for a second the EU and banking cartel would let Greece go like that... pft I would've LOVED to have heard some of the discussions that took place behind closed doors (much of which was probably predatory and threatening I would bet)

As the world turns... and the banksters continue to keep their deathgrip on the financial system

I have a great deal of sympathy for the Greeks, but all they are being asked to do is live within their means. The Greeks spent years piling on the debt, now they just need to adjust to how rich they are no longer. Part of this is changing the way Greece is governed - Greece is a country with five VAT rates, so there's scope to simplify. The Greek politicians need to get on with the reforms and stop farting around.

a reply to: paraphi

From what I can find, there are only five countries in the world living debt free: Macau, British Virgin Islands, Brunei, Liechtenstein, and Palau; just about every nation in the world is "living beyond it's means". How much longer until they come for your nation?

Who is this near totality of States indebted to? The sheer plurality of debtor nations alone should be enough for all to see that something is seriously not right with our system of global finance. It's not the fault of the Greek people, they are just the latest of many to face the lash of faceless financiers. They certainly won't be the last.

The terms of this deal are worse than the one initially offered and the subsequent deal that the Greek citizenry voted 'no' on during the referendum.

The money goes to the "bankrupt" Greek banks, to be ready for selling to the "ones" who lend them the money in the first place. After that you have to repay the "loan" (with interest).

Basically they are "giving" their country economy (or, outsiders are stealing the Greek country) to the foreign "investors/states".

that's it.

a reply to: paraphi You are misinformed friend. The greek "people" were not living beyond their means. 50% of the debt was military spending. This spending was done by politicians who were bribed through kickbacks to buy military weapons and hardware from france and Germany. Goldman sachs even falsified Greece's ability to repay in order to get the loans to go through. Greece was spending 7% of gdp on military which puts them at 5th highest in the world I believe, much higher than the rest of europes 2%. Interestingly enough, one of the terms of the austerity the troika imposed (the troika being European, ie French and german, bankers) was that Greece can not cut military spending...but must cut everything else. Interesting how they try to stick it to the greek people while protecting their own sales to that country. At any rate, what the result of these bailouts are, is that the people getting rich skimming from the public in Greece....ie the politicians and banksters....will continue to get rich....meanwhile the people are being held on the hook for spending that other people did. But don't fret, this will be coming your way soon as well, and as I assume you are American, when your debt comes calling it will be much worse than greeces. Too bad those many americans (median income 27k a year) barely able to get by, living paycheck to paycheck, are living so irresponsibly beyond their means.

And now the Greeks can make a whack of dough by selling the military hardware to the highest bidder . . . actually . . . they could try but they'd get literally and figuratively shot down by the same banksters who make their money funding the sale of unnecessary military hardware to the highest bidder.

Go figure.

New day.

Same stinking steaming mound of crap.

originally posted by: pexx421
You are misinformed friend. The greek "people" were not living beyond their means.

Er, yes they were.

originally posted by: pexx421
50% of the debt was military spending. This spending was done by politicians who were bribed through kickbacks to buy military weapons and hardware from france and Germany. Goldman sachs even falsified Greece's ability to repay in order to get the loans to go through.

I would love to see your reliable source that backs this up. Even Greece overspending on defence would not rack up the debt we are talking about. Plus the value of arms sales between France/Germany and Greece would not even be close to the debt Greece owes to these two nations.

Many factors contributed to the Greek economic crisis during the last decade, each of them playing and important role and have varying levels of significance. In particular, the Greek economic crisis can be blamed with some primary causes - the Eurozone, mass tax evasion, the corruption of government and public spending and insufficient bureaucracy.

Source 1

In particular, for the right, Greece is at the edge of the abyss because of the bloated government bureaucracy, unreasonably generous pensions and health-care benefits, and the sclerotic labor market. For the left, Greece’s financial troubles could easily be resolved if people paid their taxes

Source 2

a reply to: paraphi

You can do your own research. There are plenty articles on Google showing the true effect of the corrupt circle of kickbacks and arms deals on greek economy. But it's much easier for people to just point and slander and assume that it's the greek people's fault, just as the same groups you sourced were likely blaming the American public for the banking crisis caused by the credit default swaps and irresponsible leveraged gambling done by the same banks holding Greece hostage. Interestingly, when the people make bad choices they wind up losing their a$$ when it's over, meanwhile when banks make bad choices again the people lose their a$$ when it's over. Funny how that works..... When things go wrong everyone is quick to blame and impoverish the taxpayers, with millions winding up out of their home and on the street, but banks just get a bailout and a bonus.

People are always ready to hate the poor and lay people, but can't help but be dazzled by the wealthy owners and corporations. Guess it's easy to assume that normal humans and po folks are to blame, and that anyone who has amassed massive wealth must be beyond mistakes or culpability. After all, in our society, money is God and greed is good.

originally posted by: pexx421
You can do your own research.

Ah, the response when a claim cannot be backed up.

There's plenty of information about defence sales to Greece, but nothing that would dent the €320bn debt of which €57bn is owed to Germany, €43bn to France, €38bn to Italy, €28bn to Spain and so on.

a reply to: paraphi

And since all those nations are heavily indebted, whose money is it they're giving away?

www.theguardian.com...

There ya go, way to be a pompous a$$. Had Greece cut military spending to the same as all the rest of europe, per the article, the would have an estimated 150b less debt (that's about half). But of course, it's always the population spending too much and living high on the hog off social safety nets that bankrupts nations, and not the elites financial shenanigans and corruption, right? I'm sure you can show us many recent historical examples of the common man's rampant laziness and tax dodging bringing national finances to their knees. Should be no problem.

Just hope this serves as a warning to the UK when they FINALLY

get their chance at the 'promised?' referendum.... and David

Cameron is waffling around *thinking* he is getting a good or fair

deal for the people of the UK!!! LOL!!!



And as an after thought .... taking the same situation at a much

smaller level. Who in their right mind 'relends' to someone who

has no prospects of paying back their first loan never mind a third

loan??

originally posted by: eletheia


Just hope this serves as a warning to the UK when they FINALLY

get their chance at the 'promised?' referendum.... and David

Cameron is waffling around *thinking* he is getting a good or fair

deal for the people of the UK!!! LOL!!!



And as an after thought .... taking the same situation at a much

smaller level. Who in their right mind 'relends' to someone who

has no prospects of paying back their first loan never mind a third

loan??

Maybe greece got there new loan from wonga

a reply to: eletheia

People who are really more interested in stealing everything from that country for pennies on the dollar when it defaults the way it's supposed to. This is the imf's standard design per John Perkins "confessions of an economic hit man" and is what they do all over the world.

originally posted by: crazyewok

Maybe greece got there new loan from wonga

LOL!! Same system of wringing out the last drop .....

Causing as much misery as possible, lining their own coffers!!