The Syriza-led government of Greece formally submitted a list of proposed economic reforms overnight that would accompany a four-month loan package from its foreign creditors.
I believe that the expression, caught "between Scylla and Charybdis," originated in Greece, meaning that this is not a situation that is unknown to them. I have confidence the new government will persevere until they are able to destroy the austerity that is crushing Europe. The Troika is only a hydra if we believe that it is.
I hope they pull from the EU print their own money and show the rest of the world under attack by the neo-liberal international financial crooks how its done.
The "extension" gives Syriza time to make Grexit option preparations with the BRICS (particularly Russia and China) which will greatly increase the "leverage" Syriza lacks now. It is the EU/IMF that is in a rush to lock Greece back into years of debt-servitude. 4 months more is of little consequence.
While Greece is the leading item in maintaining the EU subsidiary of the corrupted and bankrupt Bretton Woods/US$-reserve-currency/IMF/WTO/World Bank scam, this is really about preventing the BRICS+ multi-currency project from succeeding. Remember that the EU/Euro system was originally conceived to provide an alternative-currency counterweight to the endless manipulated cycle of US/UK boom-bust banking/markets. Like all good examples, the EU was subverted and corrupted to the 0.01%'s Washington-led Manifest Destiny agenda.
The BRICS+/SCO will not be subverted as the EU was as long as Putin and Xi are in power and supported by 70+ countries. This has the PNAC/AIPAC crowd very concerned, as the US/NATO is very vulnerable on both economic and military fronts, despite all the exceptionalist and triumphalist blather. The last "successful" direct invasion by US military was Granada, keeping the world nutmeg supply safe. Has the US military/black-ops/NGO and Wall Street/IMF machinations reduced a dozen countries to ruins and/or economic ruin? Yes, but that is not winning a war. It is akin to the spoiled toddler who won't share breaking the nursery toys so other kids can't have them.
Yes, If you call Jockeying, signing a dictate composed by the European Commission. According to Zerohedge dot com ;
the reason why not only the Troika received an agreed to version of the Greek reform proposals "before midnight on Monday", but rushed these through with a favorable agreement today, is that, drumroll, the European Commission drafted the entire letter!
Since we can't link here do the research yourself. Is it capitulation or breathing space, something else?
I agree with your assessment, but I am not at all well-informed concerning the Greek crisis. Much has been repeated that Syriza was not elected with a mandate to exit either the Eurozone or the EU, but then FDR wasn't elected with a mandate to get the US into the second European war, was he?
I also see the "re-assessment" by our boy "Ash" concerning the Afghanistan campaign as being related to this, in line with the continued reporting of Pepe Escobar. But our kiddies playing a real-life game of Risk keep placing bad bets. If a wider conflict ensues the other players on the board will swallow our outpost in Afghanistan without even burping.
Obviously, Varoufakis felt he needed more time, very understandable. But, abandoning the immediate increase in the minimum wage was his first big mistake. Finance negotiations with the big dogs are one thing, but an immediate increase in people's paycheck is another. He should taken the tangible as well as symbolic importance of increasing the minimum wage more seriously. It just shows that he is out of his league negotiating with Germans. This is their primary strategy to drive a wedge between practical Syriza and the radical left Syriza. The Polemicist is right, the Germans have the power and they could care less about his reasonable efforts to save capitalism from itself - ha, ha, ha!
Greece can bail and return to its own currency and watch their country rebound instead of bowing to the austerity insanity.
John Q spelled Varoufakis wrong - he's a good writer but must be careful. Still, for the pittance that the CD staff writers get, I guess they are still pressured to get stuff out. I contributed to the campaign. Did you?
The strangest thing about the current discussion of the austerity agenda is that all eyes are elsewhere, even as the US has been rolling this agenda out right here in the US. The US took a different approach, rolling it out slowly, from the bottom up, and effectively censoring out the examination and reporting of the consequences. This has been ongoing since at least the mid-1980s. Right now, we seem to be witnessing the rich do to the middle class what the middle class already did to the poor. Because the proverbial masses, the poor and middle class, have been so deeply divided and pitted against each other, I really don't think there is anything we can do about it. Remember Occupy? What began as an extraordinary people's movement that could have changed the course we're on was quickly (successfully) redefined (by Dems and lib media) as a middle class movement alone. The rest of us -- the poor, and those who get why unrelieved poverty is sinking the country -- walked away, and the movement died. We do see the occasional protests, defined with the usual rhetoric about "solidarity," etc., but it just allows middle classers to "vent."