While on my way back home I was listening to NPR early this morning.
The newscast lead… “Greek Banks Reopen”. That’s good news, I thought.
I checked the story online a little later…This from the Guardian’s Jennifer Rankin:
“The Greek money merry-go-round carries on in full swing as Athens received a €7.2bn (£5bn) loan from the EU and immediately spent almost all of it on repaying debts.”
“Greek officials confirmed on Monday they had begun paying back international lenders, not long after the emergency bridging loan arrived in the Greek government’s bank account.”
“The EU agreed to the loan on Friday to enable Athens to meet urgent debt repayments and clear arrears, both necessary hurdles if the Greek government is to get a three-year bailout worth up to €86bn.”
“Greece’s bank branches are open for the first time in three weeks, but capital controls still stop people from withdrawing more than €420/week ($456).” (1.)
I found this headline while checking one of the enewsletters which I receive:
"The recent terms require a reduction in pension benefits to less that $96 /mo. for Greek pensioners."
“Mr. George Romanias, Greek Secretary General on Social Services, has said today, speaking to the Greek MEGA TV station:
“Ι cannot stay in the Ministry. I won't to apply some principles. I cannot do the opposite,” Mr Romanias said, adding that he will submit his resignation by tomorrow morning. “I cannot apply the law they oblige me to introduce. It is not possible to give a monthly pension of 87 Euros ($94) to a handicapped person. This is what was put in law.”
Speaking about the law introduced with express procedures, upon insistence of the Creditors, including all European governments and the Commission, he said “it is the first time in my life that I see a project of law written with such illiteracy, such amateurism and such ignorance… The Prime Minister was blackmailed, that is sure, but I cannot apply a law I don’t agree with and about which I was not asked”. (2.)
Is it just me, or do you, too, see the insanity of this transaction? The banksters create the "money" from nothing, then impose heinous conditions upon those least able to defend themselves so that they can extract the "money" back... all in a few hours time.. with even more interest added on.
I'm becoming "mad as hell!" How about you?
1. “Greek debt crisis: Greece begins repaying ECB and IMF as banks reopen – live”, the Guardian, 20 July 2015.
2. “Wealthy Germans Forced Pensions of Poor Greeks Down to $94 monthly”, Paul Craig Roberts, 19 July 2015. Institute for Political Economy, Retrieved 20 July 2015.
The newscast lead… “Greek Banks Reopen”. That’s good news, I thought.
I checked the story online a little later…This from the Guardian’s Jennifer Rankin:
“The Greek money merry-go-round carries on in full swing as Athens received a €7.2bn (£5bn) loan from the EU and immediately spent almost all of it on repaying debts.”
“Greek officials confirmed on Monday they had begun paying back international lenders, not long after the emergency bridging loan arrived in the Greek government’s bank account.”
“The EU agreed to the loan on Friday to enable Athens to meet urgent debt repayments and clear arrears, both necessary hurdles if the Greek government is to get a three-year bailout worth up to €86bn.”
“Greece’s bank branches are open for the first time in three weeks, but capital controls still stop people from withdrawing more than €420/week ($456).” (1.)
I found this headline while checking one of the enewsletters which I receive:
"The recent terms require a reduction in pension benefits to less that $96 /mo. for Greek pensioners."
“Mr. George Romanias, Greek Secretary General on Social Services, has said today, speaking to the Greek MEGA TV station:
“Ι cannot stay in the Ministry. I won't to apply some principles. I cannot do the opposite,” Mr Romanias said, adding that he will submit his resignation by tomorrow morning. “I cannot apply the law they oblige me to introduce. It is not possible to give a monthly pension of 87 Euros ($94) to a handicapped person. This is what was put in law.”
Speaking about the law introduced with express procedures, upon insistence of the Creditors, including all European governments and the Commission, he said “it is the first time in my life that I see a project of law written with such illiteracy, such amateurism and such ignorance… The Prime Minister was blackmailed, that is sure, but I cannot apply a law I don’t agree with and about which I was not asked”. (2.)
Is it just me, or do you, too, see the insanity of this transaction? The banksters create the "money" from nothing, then impose heinous conditions upon those least able to defend themselves so that they can extract the "money" back... all in a few hours time.. with even more interest added on.
I'm becoming "mad as hell!" How about you?
1. “Greek debt crisis: Greece begins repaying ECB and IMF as banks reopen – live”, the Guardian, 20 July 2015.
2. “Wealthy Germans Forced Pensions of Poor Greeks Down to $94 monthly”, Paul Craig Roberts, 19 July 2015. Institute for Political Economy, Retrieved 20 July 2015.
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