Lol.
So deluded. There is none so blind as he who will not see. Even Fox news is stepping away from Trump after this one. Probably why you're now in love with the Russian propaganda network, OAN.

I know you will love to hear there's a second whistleblower scandal proceeding through the investigative process, reportedly with evidence Trump and subordinates have been trying to interfere with his IRS audit too.
This news comes out the same day Giuliani was forced to cancel his second appearance at the Putin formed, Kremlin backed EEU (Eurasian Economic Union), the Soviet attempt at an anti EU. There he planned to speak alongside multiple Russians who are currently under sanctions for their involvement in the invasions of Crimea and the Ukraine, and Putin himself....a paid engagement. He absolutely refuses to disclose how much he would be paid and by whom....or answer the same questions about his appearance at the same forum with the same people last year.

If the current Greek proposal is actually the one being published just about everywhere, they might as well sign it in the replica of Marshal Foch's carriage in Compiègne. It's even worse than the one they had their referendum on.

As if that wasn't bad enough, Jamie Galbraith substantiated AEP's claim that the referendum was horseshit to begin with.

They screwed the pooch, even I'd agree to that if they were to accept this unconditional surrender. The anti-austerity movement on the left would be compromised to such a degree, leaving only the anti-EU forces of the right credible in their opposition to austerity. The recession cult will have their permanent austerity -- and the bigots will have their revival of nationalism.

Nothing is good about this situation and there is no reason to think this will end in anything but Greek default.

Greece's government, elected by its citizens ran up a large and unsustainable debt which was masked by easy credit before the GFC and fraudulent accounting.

There were many contributors. Corruption, hugely wasteful state owned enterprises, joining the euro zone before they were ready to lose the ability to devalue their currency and lower interest rates, and flagrant tax evasion.

But as a country they're collectively responsible for not demanding the necessary reforms of their politicians to ensure they were not vulnerable to a credit crisis when the GFC hit and lenders began to look more scrupulously at individual European countries rather than Europe as a whole. Equally, Italy is responsible for voting Berlusconi into power for every year their economy recorded negative growth under his government. Spain is responsible for not providing sufficient oversight to bad bank lending leading a huge indebting bailout package.

Some of Syriza's reforms are reasonable. Tackling corruption and trying to break up oligopolies are worthy ideas, but they are unlikely to be easy and yield any immediate benefit. Raising the minimum wage and planning to hire back state workers as they have already promised will almost guarantee they will cease to receive EU funding/ECB assistance and later IMF funding.

The simple truth from the point of view of Germany and other austerity backing Nordic countries is if they buy their loans (and in effect transfer money to Greece) without austerity stipulations, there will be no pressure or guarantee that structural reforms that allow Greece to function independently will ever be implemented. These lender government and by extension its people have no interest in transferring wealth to Greece if it stalls its reforms.

Yes fire sales of state owned enterprises suck but the likely alternative at this point if the Troika lending is stopped is that all other lending stops and Greece defaults. At that point there would be mass loss of state sector jobs and sky-rocketing unemployment relative to what is now being experienced. It would take years of reform for the Greek government to be lend-worthy again. There is simply no trust for any alternative to austerity on the part of north Europe.

Currently Greece has reported positive growth in the past quarter and excluding debt repayments is running a budget surplus. Realistically, yes they cannot pay back the 180% of GDP. The likely way forward is after several more years of real reform they (+ Spain & Portugal) would get better terms from the EU as politically, leaders in Germany and elsewhere will be able to make the case that their objective has been achieved.

The ECB's QE package is in some ways already part of this. What I guarantee won't happen is electing Syriza to oppose bailout terms helping to secure that. Germany et al will quite rightly see that if they acquiesce to Greece they will encourage other populist parties in Spain, Portugal, Italy and France and stall reforms.

Could Germany and others in theory provide a huge cash infusion to Greece, Spain and Portugal now? Sure. And those parties would be voted out in the next election and the terms reversed. Even with the relative stinginess of current loan terms, the likes of UKIP and the National Front with their anti-EU stance, have gained political standing in the EU parliament and will likely see huge boosts in upcoming domestic elections.

just fyi, Russia Today is a TV channel created by Russian Government intended to show news from Russian Government's point of view. Most of the time they are anti-American and anti-EU.
They are kinda like Fox News during Bush years.

For people that don't like FoxNews this is something of a "enemy of my enemy is my friend?" situation

>> ^Winstonfield_Pennypacker:
2. Better health care? Who says? Not people in the UK...
http://www.dailymail.co.uk/news/article-1209034/The-babies-born-hospital-corridors-Bed-shortage-forces-4-000-mothers-birth-lifts-offic
es-hospital-toilets.html
http://www.dailymail.co.uk/new
s/article-1208970/Man-collapses-ruptured-appendix--weeks-NHS-doctors-took-out.html

Let's see what wikipedia has to say about this tabloid trash that is the Daily Mail : "The Mail takes an anti-EU, anti-abortion view, based upon "traditional values", and is pro-capitalism and pro-monarchy, as well as, in some cases, advocating stricter punishments for crime. It also often calls for lower levels of taxation."

Wow... That's like using Fox News as a "non-biased" source to show that every American thinks healthcare is fine as it is in the U.S. Of course the British, like everyone else, call for better everything. After all, the government is FOR THE FUCKING PEOPLE. Do you not get that? It is your right to be critical of the government. And given the choice, people will complain more than they will send flowers. After all, when all goes well "they're just doing their jobs".

>> ^MaxWilder:
Not much of a game if they're all "BLØFF". ☺


Well, fuckin' hell, it's no fun watching the vid knowing that! Grr, I'm so angry that I upvoted your comment before realizing what a downer it really is knowing the outcome ahead of time. This is worse than snape kills fuckin' dumbledore.

>> ^gorillaman:
The relevant clip from Yes Minister.


Shamelessly sifted up the link, thanks.

http://www.videosift.com/video/Yes-Minister-EuroSausage