Greek Parliament Passes Bailout Legislation
The margin of victory, if you can call it that, was 229 out of 300.
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Odds Favor a Greece Deal Failure and Defacto Grexit
The odds now favor the tentative deal struck over the weekend to “rescue” Greece, which many have correctly depicted as a brutal economic colonization of Greece by its lenders, coming unraveled.
Read more...Convert to the Drachma – Piece of Cake. Right…
Those who consider a Grexit, meaning reintroducing drachma, to be a sine qua non for Greece moving forward have no idea of what that entails.
Read more...IMF Throws a Spanner in Proposed Greece Deal, Says Debt Reduction May Not Be Enough
The IMF has dropped a big shoe before the Greek government has passed any of the legislation required as part of its pending bailout. But if this development leads to more wrangling, that means an even longer delay before Greek banks get any liquidity, which means continued strangulation of the Greek economy.
Read more...The IMF’s Olivier Blanchard Writes a Greek Tragedy
The IMF’s research head, Olivier Blanchard, attempted to defend the IMF’s sorry record in Greece. What if any of his argument makes sense?
Read more...“Greece Brought a Latte to a Gunfight”
How Greece, and in particular, Yanis Varoufakis, grossly misunderstood German interests and how that led Greece to destroy itself and further German rule.
Read more...Greece Has Made No Preparation for a Grexit
This is as bad as we’ve feared.
Read more...A Grexit Looks Almost Inescapable
Despite my generally dour outlook, I never thought we’d arrive at the insane juncture we are at now, that of a Grexit being all but baked in.
Read more...The Greek Last-Chance Proposal: Stepping Backwards to Move Forward?
An analysis of the proposal approved by the Greek parliament yesterday by 251 votes out of 300.
Read more...“Tsipras Has Just Destroyed Greece”
Tsipras has managed to deliver to the neoliberals a victory more complete than they could ever have engineered on their own.
Read more...Greece Told to Submit Proposal By Thursday, Complete Deal By Sunday, or ECB Shoots Its Banks and Forces Grexit (Updated: Greece Requests Three Year Bailout)
Greece has been given a maximum of five days to come up with a proposal acceptable to its lenders. And “acceptable” would be more stringent than if it had agreed to the memorandum when Syriza assumed office in January
Read more...Ambrose Evans-Pritchard: Tsipras Never Wanted to Win Referendum, is “Trapped” and “Depressed,” Syriza in “Turmoil” (Updated)
Ambrose Evans-Pritchard has a bombshell report: Syriza never wanted to win the referendum and is now desperately contending with events that are spinning out of his control.
Read more...GREECE’D: We Voted ‘No’ to Slavery, but ‘Yes’ to Our Chains
Greek journalist Michael Nevradakis and US investigative journalist Greg Palast have a different take on the Greek ‘No’ vote against Europe’s cruel austerity demands.
Read more...Will the ECB Continue Its “Sherman’s March to the Sea” with the Greek Economy?
If the ECB does not give Greek banks more funds under the ELA today, the Greek economy is going to start to suffer lasting damage.
Read more...Nuland’s Nemesis: Will Greece Be Destroyed to Save Her From Russia, Like Ukraine?
Obama and Treasury Secretary Jack Lew have been far more quiet than you’d expect given their attentiveness to the needs of the investing classes and the threat that protracted wrangling with Greece might pose to that. Of course, they might believe that Draghi’s bazooka is more effective than Hank Paulson’s proved to be in the runup to the final phase of the financial crisis. But John Helmer indicates below that the Greek referendum has intensified the Administration’s interest in regime change in Greece. Also note that the anti-Greek government interests have connections to Hillary Clinton.
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