Wednesday, July 1, 2015

The Greek Solution

++It is very clear that the European Union wants to topple the Tsipras government. For the last two days of concessions, they have become more stringent in their demands. 

++No one in Greece really knows what the referendum means. Tsipras himself says it is not a vote to leave the European Union but simply about the debt package.

++Europe is very scared of Podemos in Spain and other left-wing parties which are balking at austerity economics.

++If Vladimir Putin is the geopolitical strategist he thinks he is, why doesn't he pick up the bill? That should get Europe's attention. 

++Putin avoided the question when he signed the pipeline deal with Greece saying it would not go paying the debt.

++The five-year program has already mean a decline of 25% in Greece's GDP. Europe is now demanding payments that are 3.5% of the GDP each year through 2018. Youth unemployment is now 60%. 

++How long does the EU expect Greece to tolerate this? Remember none of the money to be "lent" goes to Greece but to back payments on loans.

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