Greek Prime Minister Alexis Tsipras
…Asks Zero Hedge
Who adds:
Moments ago Bloomberg blasted a headline which has to be validated by other members of the European Commission as well as Merkel and the other Germans (and may well be refuted, considering this is Europe), which said that:Commission To propose Six Month Exension – sources So did Greece just win the first round of its stand off with Brussels? It remains to be confirmed, but congratulations to Greece if indeed it caused Merkel and the ECB to fold….
Thanks Sido
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The six month extension was the EU’s original offer before the Greek election. Since then Tsipras has said no to more bailout, before then saying yes please to more bailout.
Agreed; the only 6 that Tsipras is after is a €6bn loan with no strings attached.
Think 6 month extension was offered to previous Government, who opted for 2 months ( presumably to make life difficult for Syriza)
Folding? pre election Syriza was going to demand cut to debt stock, was going as it’s first act restore the minimum wage in full, was going to tear up the memorandum for bailout, and was going to halt all privatisations.
The cut to debt stock has been abandoned in favour of “financial engineering” to relieve some pressure from debt flows, not stock. Similar engineering has allowed this country to reshape its’s debt flows to be more sustainable.
It seems now MW will be restored gradually.
Now it appears that 70% of the troika deal was ok, and they will negotiate the rest.
Today it is is being reported that the biggest of the privatistions, Piraeus port , is to go ahead.
Meanwhile in a bold move the govt has said they will re-examine the entltlement of all MPs to a free car.
I wish them well and think many of them represent the best hope for Greece.
if this is true, I predict that everyone will declare themselves the winner here. Greece wanting to get into bed with Russia though. I am sure people will defend that but bloody hell.
Can’t blame them, really.
They might have their budget problems sorted with a hefty annual fee and a load of free oil and gas for letting the Russian fleet use their ports or something. Why wouldn’t you when your own central bank is treating you like a colony and Merkel’s Union is exercising collective punishment on your increasingly impoverished country. From their perspective, like.
I’m so bloody glad someone is playing hardball against an EU that seems to be trying to destroy itself. Any idea of European integration is dying a death at the technocrats hands. It’s so nice to see democracy getting mentioned for the first time in X many years of this shitstorm
Sure aren’t the Ruskies buying up half of Greece anyway.
Syriza, like zerohedge, is a KGB front so there ain’t really much to see here
They’d better not borrow in Rubles… ! When the currency recovers they’d be fupped!
Yannis did talk a lot about game theory in negotiations, the onlyplace it makes sense is in negotiations with the ECB. See what ya can do when ya have the power to bring down the Eurozone? Cowen? Enda?
If you have the ability to pull down the eurozone you have europe over a barrel.
Which is what our lot should have recognized in 2008 an what I initally assumed the guaratee was for.
Good, the Germans would be nowhere if it wasn’t for the debt writeoffs given to them by now EU countries and the West, now that it’s time to give some of that back by helping out the Brotherhood of nations that is the EU back, they’re grabbing their gold going “WHY SHOULD I?” if that was the attitude of the rest of the world to them Germany would be 20 years behind EU due to still paying off war reparations. The West saved Germany, it’s time the Germans save the EU, they’re undermining the security and unity of the EU while running up record surpluses. The EU is for better or worse, they love exporting under a far weaker currency than a Deutsche Mark would be but aren’t willing to give ANY of that profit back to the countries keeping the currency relatively weak.
Enda and co can’t be happy though…
Think you missed the bit where after saying they would not sign up to an extension of the bailout and demanded cut in debt, they are now planning for new programme and have dropped debt cut demand.
I wish we had a ridey Taoiseach :o(
Anyone in mind….
It’s a forni issue
dat lil wet yoke wots in 50 shades a gray, Jamie de lil wetzer of an office holder <3