31 Jan 2015 Greece will repay 240 billion euro through other debts - but still break with 'rotten Trojka'

Greece will repay 240 billion euro through other debts - but still break with 'rotten Trojka'

http://www.telegraph.co.uk/finance/economics/11381533/Angela-Merkel-rules-out-debt-cancellation-for-Greece.html

Greece hires debt advisor Lazar.

And has chances Russia will pay off the 240 billion bailout debt - http://www.globalresearch.ca/moscow-might-bailout-greece-russian-finance-minister/5428564l

Greece had reached a surplus on budget, but just not meeting Trojka requirements:

http://www.marketwatch.com/story/greece-misses-its-target-on-budget-surplus-2015-01-14

Greece misses its target on budget surplus

Published: Jan 14, 2015 11:41 a.m. ET

 

 

By

NEKTARIASTAMOULI

ATHENS--Greece announced a primary budget surplus of EUR1.9 billion ($2.24 billion) for 2014 on Wednesday, falling short of the target set for the year, in a miss largely due to a delay in the payment of its next tranche of aid.

The country's primary budget surplus--which doesn't take into account interest payments--for the January to December period reached EUR1.9 billion, missing a EUR4.9 billion target set by the Greek government and its international creditors.

According to the Finance Ministry, Greece has not collected EUR1.9 billion from the European Central Bank's Securities Markets Program--a government-bond purchasing program.

Those bond profits are part of a EUR7.2 billion installment from Greece's EUR240 billion rescue package, that the country has yet to collect from its international creditors.

Revenue for the 12 months hit EUR51.3 billion, below the EUR55.3 billion target, data showed.

Some of the shortfall also stemmed from delays in tax collections, but analysts said that Greece remained on track to meet its budget goals.

"The delay in tax collection is expected during a pre-election period," Nikos Magginas, a senior economist of National Bank of Greece, said. "Excluding the late payment of the SMP, Greece is still on track to meet its program target."

Negotiations with a troika of international inspectors--made up of representatives from the European Commission, the European Central Bank and the International Monetary Fund--had been stuttering since September. They ground to a halt after the country was forced to early elections later this month, after the parliament failed to elect a new head of state.

According to public opinion polls, the leftist Syriza party is poised to win the upcoming elections, yet it is not clear if it will win enough seats to form a government on its own.

According to finance-ministry data, outlays were lower than expected at EUR55 billion, beating a EUR56 billion target.

The state budget takes into account only the operations of Greece's central government and doesn't include general government accounts, which comprise local government and a portion of military spending, as well as data for some state-owned enterprises and pension funds.

In 2013, the country produced its first primary budget surplus--not including debt payments--a year ahead of schedule.

According to a draft budget for 2015 submitted to parliament in October, Greece f oresees a primary budget surplus surplus foresees a primary budget surplus equal to around 2.9% of gross domestic product.

Write to Nektaria Stamouli at nektaria.stamouli@wsj.com

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31 Jan. 2015 High level analysis of scenario's of Grexit in Washington post; first offers for domain name http://www.xn--jxafi7ax1b.gr/ (drachma.gr in Greek script) are coming in

High level analysis of scenario's of Grexit in Washington post of today, see link
http://www.washingtonpost.com/blogs/wonkblog/wp/2015/01/30/greece-really-might-leave-the-euro/

First offers for the domain name http://www.xn--jxafi7ax1b.gr/ (drachma.gr in Greek script) are coming in, around 80.000 - 120.000 USD. The domain will, however, not be sold for less than 1 M USD. Far higher offers are expected once Grexit is certain. (contact internetavenue@outlook.com)

PS: Netherlands also started an 'exit movement', 'Nederexit',  https://www.facebook.com/pages/NederExit/1051599434866992

Good factual report of today's talks 30 Jan 2015

More actual than ever:

http://www.xn--jxafi7ax1b.gr/ (drachma.gr in Greek script) - which is for sale (contact: internetavenue@outlook.com)

Good factual report of today's talks 30 Jan 2015:

http://www.bbc.com/news/world-europe-31055069

Underneath, typical comment of Trojka-slave Tim Worstall:

Greece On The Verge Of Going Nuclear In Its Rejection Of The Troika

(by 'nuclear' is meant: no subjection to undemocratic Trojka)

Comment Now

Tim Worstall Forbes 30 January 2015

How you view this will probably depend upon how you view the Greek economic situation. But the new Syriza government looks like they’re on the verge of going nuclear in their negotiations with the troika, that combination of the IMF , ECB and EU, that controls the purse strings. That the new government was elected on such a basis is one thing. But that that new government thinks that the tactic might actually work is another. The basic problem is that if this negotiating stance is kept to then there’s a possibility (however slender) that Greece will be out of the euro within weeks.

Here’s one story about what has been announced:

The defiance from Athens was clear: no co-operation with the troika overseeing the bailout.

The troika creditors are supposed to wrap up their latest review of Greek finances at the end of February, based on which they would dish out another €7bn of bailout money.

Athens needs the tranche to meet debt commitments later this year. But Mr Varoufakis says his government doesn’t want the money and won’t honour commitments made under a previous “toxic” programme.

The problem with this is that Greece has signed up (yes, of course, under the previous government) to pay back certain sums to said Troika. And if it doesn’t pay back such sums then it is in default. But that’s not actually the problem. Given that Greece has a primary budget surplus, default is not a defining problem. That the Greek banking system depends upon liquidity support from the ECB is a problem. Because the ECB is one of those three in that troika and if it gets defaulted upon then it will stop providing that liquidity. At which point Greece is out of the euro and in a very messy and almostanarchic manner:

Varoufakis said Greece had no intention of cooperating with a mission from the lending “troika” of the European Union, European Central Bank and International Monetary Fund, and would not seek an extension to a Feb. 28 deadline with euro zone lenders.

“This platform enabled us to win the confidence of the Greek people,” he told reporters after the meeting. “Our first action as a government will not be to reject the rationale of questioning this programme through a request to extend it.”

The real question here is, well, do they actually believe it?

I am firmly of the opinion that Greece should not be in the euro. I have stuck to that belief since before the euro started. OK, that’s opinion. But now, today, Greece can only stay in if the ECB continues to provide that liquidity to the banking system. Syriza insist that they want to stay in. That ECB liquidity will only be provided on the basis of two points. Either that the troika folds and agrees to the reduction in the debt that must be repaid. Or that Syriza negotiates with the troika and agrees that the current contract must be upheld. Which means that we’re in a game of chicken here. Who folds? Syriza or the troika?

You can place your bets either way but it’s becoming increasingly clear that the possibility that neither side does is, umm, increasingly possible. And if they both refuse to compromise then Greece will be leaving the euro. And doing so in chaos. That old Chinese curse about living in interesting times comes to mind. As does also that point that what you’re elected to do may not be one of those opportunities that the universe actually offers you as being possible. Syriza is asking that the country’s creditors provide more money while also providing more relief. It’s not obvious that that’s a negotiating stance that is going to work.

30 Jan 2015: Greece government refuses to talk with Trojka!

30 Jan 2015: Greece government refuses to talk with Trojka!

Because Dijsselbloem, EU financial chairman having visited Greece today, is Dutch, the first interviews upon his return from Athens were in Dutch. Read (eventually with Google Translate)

http://www.telegraaf.nl/dft/nieuws_dft/23622545/__Grieken_gooien_kop_in_de_wind__.html

Greece would need a bit more money end of February, but refuses to increase debt and talk with 'abject trojka'.

This will make a cash crisis in March in Greece very likely.

One possibility is that Russia wants to pay the ongoing 240 billion euro debt.

But Greece wants broader room for spending anyway, so it is likely Greece will not fit in the EU-euro long term.

Greece arguments that since the convergence towards the euro, 1999-2002, and towards 2015, Europe had a time of zero growth and almost zero inflation. Zero inflation is very good for current capitalists, but detrimental to growth of European economies.

Either other EU countries will be inspired by Greece and join the plead for more investment, or Greece will be pushed out of the euro zone, and very likely will buy domain name

http://www.xn--jxafi7ax1b.gr/ (drachma.gr in Greek script) - which is for sale (contact: internetavenue@outlook.com)

In fact, Greece government totally rejects any superiority the Trojka would have. This attitude will, without doubt, irritate 'Capital Establishment'& the Trojka, after which a Grext will be quite likely in March.

Philippe Blankert, political analyst AND owner of domain name http://www.xn--jxafi7ax1b.gr/ (drachma.gr in Greek script) 

18.21 hrs UTC+1 30 January 2015
http://euro-drachme-grexit.blogspot.nl/

30 Jan 2015 - Greece refuses more debt - Greece is prepared for cash crunch in March

http://www.bloomberg.com/news/articles/2015-01-30/greece-shuns-eu-bailout-cash-before-dijsselbloem-visit

Before and after the cash crunch, the domain http://www.xn--jxafi7ax1b.gr/ (drachma.gr in Greek script) is for sale! Contact: internetavenue@outlook.com

30 Jan 2015: Russia may bail out Greece :) !

30 Jan 2015: Russia may bail out Greece :) !

http://rt.com/business/227751-russia-greece-financial-aid/

29 Jan 2015 - The Eurozone can PROVIDE Greece's debt by 8 days of EU output or 1 hour money printing

the eurozone could make up the difference with about eight days’ output ... or an hour’s money-printing by the ECB.

Read marketwatch: http://www.marketwatch.com/story/lies-damned-lies-and-greeces-debt-default-2015-01-29

And othwerise,  http://www.xn--jxafi7ax1b.gr/ (drachma.gr in Greek script) is for sale! Contact:internetavenue@outlook.com

29 Jan 2015: Mr. YanisVaroufakis, Greek Minister of finance, is professor in Mathematics and one of worlds most famous Mathematics authors, amongst others in math of game theory

29 Jan 2015: Mr. YanisVaroufakis, Greek Minister of finance, is professor in Mathematics and one of worlds most famous Mathematics authors, amongst others in math of game theory

See amongst others:

http://www.amazon.ca/Mathematics-Yanis-Varoufakis-Professional-Science-Books/s?ie=UTF8&page=1&rh=n%3A952134%2Cp_lbr_books_authors_browse-bin%3AYanis%20Varoufakis

His negotiation partners from the Trojka will find themselves pretty stupid :))

//

By the way: http://www.xn--jxafi7ax1b.gr/ (drachma.gr in Greek script) is for sale! Contact:internetavenue@outlook.com

http://euro-drachme-grexit.blogspot.nl/

28 Jan 2015: Greece Finance Minister Mr. Varoufakis: 'A New Pan European Deal'

28 Jan 2015: Greece Finance Minister Mr. Varoufakis: 'A New Pan European Deal'

http://www.nytimes.com/2015/01/29/world/europe/alexis-tsipras-greece-debt.html?_r=0

See above link and article NY Times

EU chairman Jeroen Dijsselbloem will probably be the first to hear some more details, on Friday morning 30 January 2015 when he visits Athens and PM Tsiparis.

http://euro-drachme-grexit.blogspot.nl/

By the way: http://www.xn--jxafi7ax1b.gr/ (drachma.gr in Greek script) is for sale! Contact: internetavenue@outlook.com

Pan-European haircut of capitalists :)

28 Jan 2015 - over two days, Friday 30 Jan 2015 in the morning, EU chairman and finance man Jeroen Dijsselbloem visits new Greece government in Athens

Over two days, Friday 30 Jan 2015 in the morning, EU chairman and finance man Jeroen Dijsselbloem visits new Greece government in Athens

Watch the news and this blog on Friday evening 30 Jan. 2015!

http://www.xn--jxafi7ax1b.gr/ is still for sale! Contact internetavenue@outlook.com

28Jan2015 - Capital Establishment EU is finally getting real: 50% write off on debts may be better than loosing Greece

http://www.theguardian.com/business/live/2015/jan/28/greek-government-privatisation-programme-alexis-tsiptas-live

Above page is full of interesting news, internationals reactions.

Markets: 13% change that Greece will default.

http://www.xn--jxafi7ax1b.gr/ is still for sale! Contact internetavenue@outlook.com

27 Jan 2015 - warning of Piketty on http://www.xn--jxafi7ax1b.gr/ (still for sale)

On http://www.xn--jxafi7ax1b.gr/ (drachma.gr in Greek script - domain still for sale!) you find a useful warning of Piketty as reading for today, 27 January 2015.

27 Jan 2015: 'EU, just print this 240 billion euro Greece debt - just just printed appr. 1 trillion for the banks'

Draghi decided to print 1 trillion euro - 1.000 billion - for the banks.

Officially it is said 'for the economy' but as not banks in the EU show any sign of redistributing Draghi's money, it is just monopoly money for the banks.

Suggestion: just print 240 or 50%, 120  billion euro for Greece, as debt write-off

This will not trigger inflation, it is still far too low to do so.

Greece voted it parliament

None of us ever voted fot the Trojka, so please: disrespect the Trojka by all means.

Trojka = monopoly-trash

and it is very stupid to want a currency without any democratic basis.

Keep currencies separated per country, peg them if you want, but more is impossible.

PS: where is the CONTRACT, the 'euro agreement' underlying the currency?

Did states sign?

PS2: 'Fuck the Trojka - they are illegal and we never voted for them anyway!'

26 Jan 2015 Bank crisis influence on Spain and Greece

Underneath Dutch graph from 'Trouw', clearly shows how unemployment rates in Spain and Greece rocketed after the bank crash mid 2008.

Who is againg to blame for the bank crash:
- the population?
- banks?
- the Trojka IMF - ECB - EU?

Philippe Blankert 26 Jan 2015 internetavenue@outlook.com

See also http://www.xn--jxafi7ax1b.gr/ for news - which domain is, by the way, for sale

http://euro-drachme-grexit.blogspot.nl/

The Trojka is the big danger - 'being 'Troiked'

http://www.theeuropean-magazine.com/juliane-mendelsohn/7284-the-perils-of-the-troika

#troiked

Getting Troiked

The Troika is destroying Europe country by country. Our silent acceptance shows that we’ve given up on national democracies and no longer understand democracy’s fundamental principles.

© The European

Changing times need new words. Until you can accurately describe what is going on, you lack the agency to fully understand it and the capacity to respond to it. In this spirit, the Académie Franciase has invented a word for hashtag (#): mot-dièse. And in this spirit, I’d like to introduce a new term into European vocabulary: getting troiked.

“Getting troiked“ is the process by which European member states on the brink of insolvency are forced to cut down on public spending by restructuring, reforming and reorganising every aspect of their public sector in exchange for the liquidity required to stay afloat. The measures have only deepend recessions, and each tranche loaned needs to be met with further spending cuts until either a miracle happens or they are bled out in the streets for all to see.

Non-governing Governments

Slovenia has started selling all its publicly held companies in order to improve its liquidity and avoid “getting troiked”. Greece and Portugal, we know, won’t be so lucky, and will be requiring a further tranche after the general German election in September. They know that further austerity measures aren’t in their best interests and so does the rest of Europe. They’ll be forced to implement them anyway. We don’t talk about this. But we need to.

When the crisis first struck, bringing in the powerful Troika of the IMF, ECB and European Commission to enable and control bailouts seemed a necessary temporary measure. Dictating the internal policies of sovereign states can be tolerated in a brief time of emergency. But seven years down the line and with no sign of times changing, our continued tolerance of the Troika suggests that we have given up on national democracies and no longer understand democracy’s fundamental principles. The idea that people are sovereign and should be governed transparently by the leaders they elected to enact their will, and whom they can vote out when they fail to do so, seems to have become a naïve utopia.

It is also wrong to assert – as the Troika does – that fiscal sovereignty can be distinguished from “real sovereignty”. A government with no power over how it spends its money is not governing. Creating “mobility schemes” that drive people out of public and private employment, closing down public services and applying comprehensive spending cuts, wiping out all investments in your country’s future: these are the most fundamental of governmental decisions. The Greek graduates that have moved back in with their parents, the rioters that have stopped rioting because they have lost faith in the ability to create change, the shop owners that have closed their stores, the mother forced to choose between food and schoolbooks; they all understand how ‘real’ fiscal sovereignty is. Somebody needs to tell them that their vote has been outsourced.

A Thrifty Swabian Housewife

If we truly believe that people are incapable and undeserving of governing themselves, we can have the big “technocracy v. democracy“ debate. But this debate has not taken place. Instead democratic rule has been outcast silently. The argument for technocracy is that it achieves better outcomes – it is the rule of good ideas. But the Troika fails by this standard. The IMF has admitted to miscalculation. The ECB still feels that its primary job is price stability and not restoring economic prosperity. And the Commission quite openly has a “thrifty Swabian housewife“ bias. The Troika’s one big idea, austerity, is the most destructive force to sweep this continent since… you know what.

There is no practical reason the Troika should not be phased out. The money it is distributing is already held by the EU’s own IMF: the European Stability Mechanism. Irrespective of who paid what towards it, the money is meant as a safety net for all Europe’s citizens, and is meant to be spent in good faith, and in the Union’s citizen’s best interests. The unelected Troika’s interventions are destroying Europe country by country and it shows no signs of the solidarity and respect for sovereignty currently needed in Europe. #troiked

26 Jan 2014 - Syriza's course

Syriza MP: Grexit is not on the cards

 Yanis VaroufakisPhotograph: Yanis Varoufakis

What are the chances of Greece still being in the eurozone in one year, or five years?

Yanis Varoufakis MP (and finance minister in waiting?) insists that Greece will stick with the euro:.

We who are in the eurozone must not toy with loose or fast talk about Grexit or fragmentation. If that happens, disruptive forces would be unleashed.

Grexit is not on the cards, he adds. We will not go to Brussels in a spirit of confrontation. There is plenty of room for mutual benefit, including those in Britain.

Updated at 8.30am GMT

FacebookTwitterGoogle plus

2h ago08:25

Syriza MP Yanis Varoufakis says his party will show Europe a plan that cuts the cost of this debt debacle to the average German, the average Slovak, who is even poorer than the average Greek.

What details can you give us?

Varoufakis cites three priorities:

• Genuine reforms to end Greek bureaucracy and tax immunity.
• A rational plan for debt restructuring, so Ponzi Austerity ends.
• Don’t want to pay back less than we can, but this schedule is “completely unrealistic” and unconnected from growth.

We want to bind our repayments to our growth. We have a humanitarion crisis... people sleeping on the streets. It is “preposterous” that any sensible European could deprive us of the money we need.

26 Jan 2015 - Independent Greeks form likely and willing coalition partner for winning Syriza

See also http://www.xn--jxafi7ax1b.gr/ for news - which domain is, by the way, for sale

http://sputniknews.com/europe/20150126/1017337335.html

Independent Greeks party leader says that the party has already told Syriza's leader Alexis Tsipras about its willingness to cooperate.

© REUTERS/ MARKO DJURICA

Greece's Syriza Receives 36.5 Percent of Votes, Official Projection Says

ATHENS, January 26 (Sputnik) — Independent Greeks (ANEL) party has already told Syriza's leader Alexis Tsipras about its willingness to cooperate, ANEL's leader Panos Kammenos said Monday.

According to Kammenos, ANEL will help Syriza, which is running ahead of the incumbent New Democracy party in country's parliamentary elections, stabilize the situation for the benefit of the country and the Greek people.

"I contacted Tsipras, congratulated him on his victory and said that Independent Greeks, as we have been saying from the very beginning, support the changes on the political scene in our country on the principles, which we announced publicly," Kammenos said in elections press center.

© AFP 2015/ RUSSELL CHEYNE

David Cameron Says Results of Greek Election to Increase Economic Uncertainty in EU

According to the data from 75 percent of polling stations across the country, Greece's leftist Syriza party is leading the country's snap elections with 36.12 percent of the votes and receives 149 seats of the parliament's 300 seats.

The ANEL party gets 4.7 percent of the votes and 13 seats in parliament, which is enough to create a coalition government with Syriza.

A total of seven parties have managed to pass the 3-percent threshold needed to enter the parliament.

The radical left Siryza party has promised in its pre-election campaign to put an end to the widely unpopular austerity measures imposed by EU bankers, including severe budget cuts and tax hikes.

25 Jan 2015 - Syriza/Greece show Europe the way to democracy 2000 years later, AGAIN

Syriza won, hopefully with absolute majority.

For a change, you find our main comment on:

http://www.xn--jxafi7ax1b.gr/

(= drachme.gr in Greek , still FOR SALE!)

http://euro-drachme-grexit.blogspot.nl/

25 Jan 2015 - Syriza's wishes when they win the elections

Analysis:

http://www.washingtonpost.com/world/europe/leftist-syriza-party-set-to-win-greek-vote-setting-up-showdown-with-europe/2015/01/23/a2a9cbe2-a0b5-11e4-91fc-7dff95a14458_story.html

25Jan2015 - last week's average polls:

http://www.ft.com/intl/cms/s/0/301636be-a2e6-11e4-9c06-00144feab7de.html#axzz3PqyXIcpy

25 Jan 2015: Greece votes! Speakers of CE (Capital Establishment) are afraid Syriza wins

That speakers on  behalve of CE (Capital Establishment) are against Syriza, must mean that Syriza and eventual walk away from eurozone is AGAINST the interestes of CE.

And what is not in the interests of CE, is very likely exactly the interest of Greece population

Read here some reactions of CE (Capital Establishment) on January 25, 2015

http://www.huffingtonpost.com/2015/01/24/syriza-greece-election_n_6538464.html



By the way,

http://www.xn--jxafi7ax1b.gr/

= drachme.gr in Greek

is still FOR SALE!

internetavenue@outlook.com

24 Jan 2015 - Greeks stop paying taxes in anticipation of Syriza win

http://www.ft.com/cms/s/0/b47c6d76-a320-11e4-bbef-00144feab7de.html#axzz3Pl7VozV7

The star world comments:

http://www.thestar.com/news/world/2015/01/24/how-greece-could-undo-the-eu.html
By the way,

http://www.xn--jxafi7ax1b.gr/

= drachme.gr in Greek

is still FOR SALE!

internetavenue@outlook.com

23 Jan 2015 - Brilliant Syriza clip (7 minutes) 'Dehumiliation of Greece' - will Greece show the world how to handle capital in a democratic way?

Syriza's thoughts also match

http://www.globalexchange.org/resources/wbimf/report

 IMF and the established capital system increasingly prescribe what countries should do - in their, right wing economist's view.

Reading Piketty one realises that there is plenty capital on earth and there always has been.

God created the Sun and menkind had free energy

Capitalists want to exploit not only workers, but also the unemployed and BREAK democracy from top to bottom.

A single currency is an easy excuse to grab central power, for Capital Establishment.

Greece found out democracy appr. 2.000 years ago.

It may very well be that Syriza with Greece will take a lead in the world, to bring back democracy, increase the number of currencies and breakdown monopolistic, non-democratic power of Capital Establishment that humiliates part of menkind.

Watch Syriza's video of January 23, 2015 - 7 minutes

http://news.sky.com/story/1413281/greece-poll-syriza-vows-to-end-humiliation

Philippe Blankert - internetavenue@outlook.com - http://euro-drachme-grexit.blogspot.nl/
23 January 2015

By the way,

http://www.xn--jxafi7ax1b.gr/

= drachme.gr in Greek

is still FOR SALE!

internetavenue@outlook.com