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Brinkmanship on Display as Greece Rejects 'Irrational' IMF Proposals


#1

Brinkmanship on Display as Greece Rejects 'Irrational' IMF Proposals

Nadia Prupis, staff writer

Greek Prime Minister Alexis Tsipras on Friday rejected the financial aid proposal of introduced by foreign creditors overseeing the country's bailout, saying the Syriza government cannot accept "irrational" proposals that call for additional austerity measures while offering nothing in the way of debt relief.


#2

"Private lies they're watching you"...

This shit belongs to the private concerns whose names cease to rise to the discussion. Let's remember them...


#3

From what I've seen of the IMF and "friends", it is like going to a loan shark.
Bottom line, the banking system puts the country into financial difficulty, then offers a loan.
Once you agree, the "austerity" kicks in, the country looses all its social programs and benefits, the "investors" take all the resources, and the people of that country become impoverished and enslaved to the "investors".
Pretty simple to see, just look at South America and other countries that have been "given" loans.


#4

Just like the Mafia, the Troika makes Greece an offer they can't refuse.

Greece is bankrupt, so any agreement should include a haircut for the
debt holders, i.e. the too big to fail multinational banksters.


#6

I am not an economist but it seems to me that Greece is holding the trump card. If Greece decided not to pay, I think the lenders would have much more to loose than Greece. In this case the only thing the banks have to reposes is worthless piles of paper. Greece's loss in the European markets would only be temporary. The rest of the world would be happy to continue doing business with Greece. The Banks have been in charge for much to long.


#7

It is good to see that at least one respondent admits that he "is not an economist". All the others present ridiculous ideas. That they call the IMF a "criminal organization" and randomly all bankers "crooked" just shows how much they have to learn; modesty is surely not their strength. It is a pity that Common Dreams provides a forum for such stupid commentaries.
HOM


#8

These are some of the demands the ECB and Eurogroupe makes on the Government of Greece.

1>The elimination of EKAS which is a Greek program to provide financial aid to the disabled. Apparently the ECB feels these programs are wasteful.

2>The Privatization of rail systems, ports and highways. In essence the entire infrastructure of Greece. This means even the Greek Military would have to pay a "user fee" to move within Greece.

3>Cutting of all old age pensions by another 3.5 percent. This after a number of cuts have been already made resulting in many people living in utter poverty.

4>Diluting laws that allow for labor unions the "right to strike".

These demands are in addittion to ones already made. Each time Greece in need of financing (They can not print their own money as a member of the EU) the screws are tightened further, Greece should leave the EU, adopt their own currency and default on the debt. They should then form closer ties with the BRIC nations and nationalize their banking industry and reassert control over all the infrastructure and Industry that has been "Privatized".


#9

So long as you dont include USA, Australia, Canada, UK, or New Zealand in the "rest of the world". The countries I mentioned will do exactly as the empire commands.


#10

Here's a great analysis of what the "economists" at the IMF do. Written from the Latin American experience primarily, but much of it is applicable even in today's European operations:

Padded with power here they come
International loan sharks backed by the guns
Of market hungry military profiteers
Whose word is a swamp and whose brow is smeared
With the blood of the poor

Who rob life of its quality
Who render rage a necessity
By turning countries into labor camps
Modern slavers in drag as champions of freedom

Sinister cynical instrument
Who makes the gun into a sacrament
The only response to the deification
Of tyranny by so-called "developed" nations'
Idolatry of ideology

North South East West
Just kill the best and buy the rest
It's just spend a buck to make a buck
You don't really give a flying fuck
About the people in misery

IMF dirty MF
Takes away everything it can get
Always making certain that there's one thing left
Keep them on the hook with insupportable debt

See the paid-off local bottom feeders
Passing themselves off as leaders
Kiss the ladies shake hands with the fellows
And it's open for business like a cheap bordello

And they call it democracy
And they call it democracy
And they call it democracy
And they call it democracy

See the loaded eyes of the children too
Trying to make the best of it the way kids do
One day you're going to rise from your habitual feast
To find yourself staring down the throat of the beast
They call a revolution

IMF dirty MF
Takes away everything it can get
Always making certain that there's one thing left
Keep them on the hook with insupportable debt

And they call it democracy
And they call it democracy
And they call it democracy
And they call it democracy

by Bruce Cockburn, 1986


#11

Here's something about "austerity" written by an economist and citing economists and economic theory:


#12

Professor of economics Richard Wolff does good job of explaining the situation, in this video entitled. "The Game is Rigged".


#14

Imagine the insanity at 1600 Pennsylvania Ave. if the Greek government were to announce publicly that at the end of this month the Greek government was going to default on it's sovereign debt, dump NATO, and it was going to start going steady with Russia and it's big brother China! Slick Oily and John Kerry would go into vapor lock!


#15

Also by Bruce Cockburn-"If I Had A Rocket Launcher"


#16

THE ELGIN MARBLES

are named for a thief.
An original hack he sawed off pieces of the great friezes

and pediment figures and sacked them
taking them back to London

to be displayed for the empire.
No one dares estimate their worth

now that the Greeks are being called
to mend the flaws

in the European version of the global neo-capitalist game.
But then, this money changing roulette

demands its slaves
and its empty spots are routinely spackled

over by the poorest in the realm.
That slaves built the banks

is never denied; that they are still required
is a matter of rhetoric

and a polite way we speak of those
who are relegated to the austerity of the poor.

No matter: the flaws
in what remains of the Parthenon

have their patches too.
After the Christians toppled the naked gods

and centaurs
and the Turks and Venetians

blasted holes into Athena's temple
when it had been made into a munitions dump

someone other than the Greeks
gave the permission

for the great marbles to be hacked off
and carted away.

What is this worth?
Who has paid whom for what? Note

the history even more remote:
After the Persians sacked the city

and destroyed the sacred space
at the top of the Acropolis

the Greeks returned
and wept

and buried their ruined temples
so carefully

we can still see colors
in the eyes of snakes.


#17

Thanks for that webwalk.

I became a fan of Bruce Cockburn way back in 1979 when I got the album "Dancing in the Dragon's Jaws".

I've seen him many times in concert, and fortunate to meet him in person. Such a brilliant song writer and musician!

There is another Bruce Cockburn lyric that comes to mind.

The opening lines as I recall from the song "The Trouble With Normal"…

Strikes across the border and strikes for higher wage
Planet lurches to the right as ideologies engage
Suddenly it's repression, moratorium on rights
What did they think the politics of panic would invite?

The person on the street shrugs, security comes first
But the trouble with normal is it always gets worse
The trouble with normal is it always gets worse…


#18

I tried to add to the conversation by drawing readers attention to the fact that most commentaries on the subject do not stand against a check of facts. Ask the writer who had the impudence to call the IMF a "criminal organization" and bankers "crooked" what he knows about the functions, the actual work and the performance of the IMF and about bankers, and you will get a piteous answer. Ask him for his next conspiracy theory and he will shine brilliantly.


#19

Very nice work Bob Vance. And thanks for the pertinent history!


#20

Excellent! Thank you for this- Poetry tells it all so painfully-


#21

but the IMF is a criminal organization, albeit a well-heeled one.

they take from the poor and give to the rich, they deify privatization and industrial ag, resource mining, among other things. a country almost always ends up poorer, in resources and freedom, once the IMF moves in. Sure, the "bottom line" may look good, but that ends up in the hands of the global corpses, er, corporations, and the richest, local few, willing to play the austerity game. And usually, even the bottom line rots after a few years.

i'm sure there are many individuals who are nice enough and believe that they are doing good things at the IMF. that doesn't make it so.

call me a proud, impudent person. it is always nice to see new posters, but you just have a totally different view from many here. that doesn't make us "piteous."


#22

I am not calling you an impudent person, but I find it sad and dangerous that even well-educated people would allow themselves to make harsh judgements on matters they do not understand. In politics and economics problems unfortunately do not have the easy solutions many people think they have. And that it is so many that think to have the "right" answers doesn't make their answers more correct. Instead of continuing with flippant accusations, I would recommend that they inform themselves better, even if only reading Wikipedia on "IMF and World Bank" (there are of course better sources of information available). If you inform yourself without prejudice you will see that, yes, this institutions as all others show serious weaknesses, but that they make serious and often successful efforts to assist their member countries (which are all represented on their Board of Directors) overcome their economic problems. If, on the other hand, you call these institutions "criminal organizations"you also imply that the people working there are criminals, which would mean that Nobelprice-winning economists, former ministers and some of the best trained experts in all sectors of economic development from all over the world are criminals. Are you so sure about the correctness of your information that you can do that?