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Greece warns it is set to default on debt repayment loans


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Interior minister says Athens simply cannot satisfy IMF deadline next month unless it works out a deal with eurozone creditors

 

 

Phillip Inman Economics correspondent

 

Sunday 24 May 2015 19.37 BST

 

 

 

Greece has threatened to default on €1.6bn (£1.14bn) of debt repayment due on international bailout loans next month, claiming it does not have the funds to satisfy creditors at the same time as paying wages and pensions.

 

The Greek interior minister, Nikos Voutsis, a long-standing ally of the prime minister, Alexis Tsipras, insisted the country was near to financial collapse. In an interview with Greek television station Mega TV he said Athens needed to strike a deal with its European partners within the next couple of weeks or it would default on repayments to the International Monetary Fund that form part of its €240bn rescue package.

 

Voutsis said: “This money will not be given and is not there to be given.” His comments came as the finance minister, Yanis Varoufakis, repeated his warning that the entire euro project would be undermined without a deal that proved acceptable to the Greek people. Varoufakis told the Andrew Marr show that the Syriza-led Greek government has now “made enormous strides at reaching a deal”, and that it is now up to the European Central Bank, IMF and European Union to do their bit and “meet us one-quarter of the way”.

 

With crucial debt payments looming, combined with the need for Athens to find around €1bn to pay public sector wages and welfare payments in the first week of June, the eurozone appeared to be entering the final chapter in its dispute with Greece. Tsipras wants the EU, ECB and IMF to release a blocked final €7.2bn tranche of the bailout without imposing tough reforms and spending cuts agreed with the previous right-of-centre administration.

 

Greece has spent the last four months wrangling with Brussels and the IMF following the election of the anti-austerity Syriza party in January. While some senior figures at the EU Commission and IMF have urged greater flexibility from creditors — and Greek ministers have appeared to drop demands for a higher minimum wage — both sides have so far failed to find a compromise deal.

 

Tsipras has attempted to persuade Angela Merkel to strike a broader deal that includes the refinancing of the entire bailout package in return for commitments to tackle tax avoidance and a re-making of the Greek welfare system, without success.

 

Syriza’s domestic position was bolstered on Sunday by a poll that showed cash-strapped Greeks remain supportive of the government’s tough negotiating stance, though they rejected a return to the drachma, saying that any deal with creditors must retain the euro as the Greek currency. The poll conducted in May by Public Issue, for the pro-government newspaper Avgi, showed 54% backing the government’s handling of the negotiations despite concerns that the country has been taken to the brink of financial collapse.

 

A total of 59% believe Athens must resist demands by creditors for further austerity measures, with 89% against pension cuts and 81% against mass lay-offs. Aware that broad electoral support for his government could collapse without a deal that retains the euro, Tsipras warned his far-left supporters, many of them newly elected MPs with little experience of EU negotiations, that they must compromise in talks with creditors.

 

In a speech to his party’s central committee on Saturday, reported in the Greek newspaper Kathimerini, Tsipras said Greece is in the final stretch of negotiations and is ready to accept a “viable agreement” with its creditors but not on “humiliating terms.” He ruled out submitting to what he described as irrational demands to apply a 23% VAT rate across the board and further labour reform. Echoing Varoufakis, he called on lenders to make “necessary concessions”. He said: “We have made concessions but we also have red lines.”

 

In a barely veiled reference to Berlin, Tsipras told the committee that many European governments would happily see Greece fail in its talks and be forced to leave the euro. He is under pressure to agree a deal that excludes fresh austerity measures from members of the hardline “left platform” within the party, led by the energy minister, Panayiotis Lafazanis, who have refused to approve any deal that departs from pre-election promises.

 

Lafazanis, according to reports, has been working on a proposals to find alternative sources of funding that would allow Greece to walk away from a deal. But his search, which has included seeking cash from Russia, have drawn a blank.

 

 

 

0848d7f4-ea12-49e9-8c2e-b2c168fcec75-102
Pensioners chant anti-austerity slogans during a protest in central Athens. Greece has spent the last four months wrangling with Brussels and the IMF following the election of the anti-austerity Syriza party in January.
Photograph: Petros Giannakouris/AP
 
 
 

 

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Thanks Umberto :)

 

The people suffer due to the actions of the bankers and government

spending. The bankers have gutted Greece after stacking them with

increased debt(s), and it is criminal. Yes, Greece has the same problems

as so many other countries, due to living beyond ones means, both personal

and government, but the piling on of increased debt and then watching the

country get looted, is not the way forward. Greece should walk away, in my opinion,

not before they do a thorough study on how Iceland handled their criminal

elements, both corrupt politicians AND corrupt banking, they ran them out of

the country.

 

Only way to address the crimes, and today Iceland is a model for any country

who is tired of being gutted and toyed with.

Edited by Jim1cor13
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Absolutely my friend, the people should not suffer due to the

actions of their government or the banking cartels. It is the

same thing going on in many countries, the US also, and at

some point, a line must be drawn to stop strapping the people

with debts they did not create, that time is long past due.

Edited by Jim1cor13
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Decades of Socialism and the indoctrination of generations leads to this  . . . this is the road we are traveling down with the current administration . . . with I might add the full cooperation of both sides of the aisle.

 

Oh they [Dems & Reps ]cause a fuss to make sure they keep everyone's eye off the ball throwing crap and mud at each other. I think they get a big kick out of it really.

 

Bamboozling and fleecing an entire country must get these a$$hole real giddy.

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Hey Jim my friend.  How are you this morning?  I have some questions for you.  Are the people not somewhat responsible as they were the ones who elected the members of the Goverment?%2

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Thanks Umberto :)

 

The people suffer due to the actions of the bankers and government

spending. The bankers have gutted Greece after stacking them with

increased debt(s), and it is criminal. Yes, Greece has the same problems

as so many other countries, due to living beyond ones means, both personal

and government, but the piling on of increased debt and then watching the

country get looted, is not the way forward. Greece should walk away, in my opinion,

not before they do a thorough study on how Iceland handled their criminal

elements, both corrupt politicians AND corrupt banking, they ran them out of

the country.

 

Only way to address the crimes, and today Iceland is a model for any country

who is tired of being gutted and toyed with.

 

Thanks Jim Good Post...I love the 'Iceland Solution'!!!

 

 

iceland-constitution2.jpg?w=930&h=753

 

 

Looks like Hungary is following Iceland's model...

 

Hungary Kills The Rothschild Banks: Ordered To Vacate Country.

end-rothschild.jpg?w=620

 

Hungary is making history of the first order along with Iceland & Russia.

 

Not since the 1930s in Germany has a major European country dared to escape from the clutches of the Rothschild-controlled international banking cartels. This is stupendous news that should encourage nationalist patriots worldwide to increase the fight for freedom from financial tyranny.

 

Already in 2011, Hungarian Prime Minister Viktor Orbán promised to serve justice on his socialist predecessors, who sold the nation’s people into unending debt slavery under the lash of the International Monetary Fund (IMF) and the state of Israel.

 

Those earlier administrations were riddled with Israelis in high places, to the fury of the masses, who finally elected Orbán’s Fidesz party in response.

 

atommutyi_putyin_orban_barnaburger.jpg?w

Hungary’s Orban & Russia’s Putin

According to a report on the German-language website “National Journal,” Orbán has now moved to unseat the usurers from their throne.

 

The popular, nationalistic prime minister told the IMF that Hungary neither wants nor needs further “assistance” from that proxy of the Rothschild-owned Federal Reserve Bank.

 

No longer will Hungarians be forced to pay usurious interest to private, unaccountable central bankers

 

Instead, the Hungarian government has assumed sovereignty over its own currency and now issues money debt free, as it is needed.

 

The results have been nothing short of remarkable.

 

The nation’s economy, formerly staggering under deep indebtedness, has recovered rapidly and by means not seen since Germany.

 

The Hungarian Economic Ministry announced that it has, thanks to a “disciplined budget policy,” repaid on August 12, 2013, the remaining €2.2B owed to the IMF—well before the March 2014 due date.

 

Orbán declared: “Hungary enjoys the trust of investors,” by which is not meant the IMF, the Fed or any other tentacle of the Rothschild financial empire. Rather, he was referring to investors who produce something in Hungary for Hungarians and cause true economic growth.

 

This is not the “paper prosperity” of plutocratic pirates, but the sort of production that actually employs people and improves their lives.

 

With Hungary now free from the shackles of servitude to debt slavers, it is no wonder that the president of the Hungarian central bank, operated by the government for the public welfare and not private enrichment, has demanded that the IMF close its offices in that ancient European land.

 

In addition, the state attorney general, echoing Iceland’s efforts, has brought charges against the last three previous prime ministers because of the criminal amount of debt into which they plunged the nation.

The only step remaining, which would completely destroy the power of the banksters in Hungary, is for that country to implement a barter system for foreign exchange, as existed in Germany under the National Socialists and exists today in the Brazil, Russia, India, China and South Africa, or BRICS, international economic coalition.

 

And if the United States would follow the lead of Hungary, Americans could be freed from the usurers’ tyranny and likewise hope for a return to peaceful prosperity.

 

 

Rothschild Too Big To Jail? Russia, Iceland, Iran, China, & Hungary Say No!

andrew_jackson-takes-on-the-rothschilds.

 

 

 

 

 

 

animated119.gif?w=188&h=105

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Hey Jim my friend.  How are you this morning?  I have some questions for you.  Are the people not somewhat responsible as they were the ones who elected the members of the Goverment?%2

 

Hi DWitte :)

 

Certainly they are, but remember, many places like the US

do not bring many important issues before voters, these issues are decided

FOR the people without a voice from the voters. In these cases, the results

of the politicians and banking actions should not be born by the people, but

those who created the debts and irresponsible spending. Too many social

programs, cradle to grave nanny style programs will ultimately break any

countries budget.

 

Hope you are doing well my friend. :)

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Thanks Jim Good Post...I love the 'Iceland Solution'!!!

 

 

iceland-constitution2.jpg?w=930&h=753

 

 

Looks like Hungary is following Iceland's model...

 

Hungary Kills The Rothschild Banks: Ordered To Vacate Country.

end-rothschild.jpg?w=620

 

Hungary is making history of the first order along with Iceland & Russia.

 

Not since the 1930s in Germany has a major European country dared to escape from the clutches of the Rothschild-controlled international banking cartels. This is stupendous news that should encourage nationalist patriots worldwide to increase the fight for freedom from financial tyranny.

 

Already in 2011, Hungarian Prime Minister Viktor Orbán promised to serve justice on his socialist predecessors, who sold the nation’s people into unending debt slavery under the lash of the International Monetary Fund (IMF) and the state of Israel.

 

Those earlier administrations were riddled with Israelis in high places, to the fury of the masses, who finally elected Orbán’s Fidesz party in response.

 

atommutyi_putyin_orban_barnaburger.jpg?w

Hungary’s Orban & Russia’s Putin

According to a report on the German-language website “National Journal,” Orbán has now moved to unseat the usurers from their throne.

 

The popular, nationalistic prime minister told the IMF that Hungary neither wants nor needs further “assistance” from that proxy of the Rothschild-owned Federal Reserve Bank.

 

No longer will Hungarians be forced to pay usurious interest to private, unaccountable central bankers

 

Instead, the Hungarian government has assumed sovereignty over its own currency and now issues money debt free, as it is needed.

 

The results have been nothing short of remarkable.

 

The nation’s economy, formerly staggering under deep indebtedness, has recovered rapidly and by means not seen since Germany.

 

The Hungarian Economic Ministry announced that it has, thanks to a “disciplined budget policy,” repaid on August 12, 2013, the remaining €2.2B owed to the IMF—well before the March 2014 due date.

 

Orbán declared: “Hungary enjoys the trust of investors,” by which is not meant the IMF, the Fed or any other tentacle of the Rothschild financial empire. Rather, he was referring to investors who produce something in Hungary for Hungarians and cause true economic growth.

 

This is not the “paper prosperity” of plutocratic pirates, but the sort of production that actually employs people and improves their lives.

 

With Hungary now free from the shackles of servitude to debt slavers, it is no wonder that the president of the Hungarian central bank, operated by the government for the public welfare and not private enrichment, has demanded that the IMF close its offices in that ancient European land.

 

In addition, the state attorney general, echoing Iceland’s efforts, has brought charges against the last three previous prime ministers because of the criminal amount of debt into which they plunged the nation.

The only step remaining, which would completely destroy the power of the banksters in Hungary, is for that country to implement a barter system for foreign exchange, as existed in Germany under the National Socialists and exists today in the Brazil, Russia, India, China and South Africa, or BRICS, international economic coalition.

 

And if the United States would follow the lead of Hungary, Americans could be freed from the usurers’ tyranny and likewise hope for a return to peaceful prosperity.

 

 

Rothschild Too Big To Jail? Russia, Iceland, Iran, China, & Hungary Say No!

andrew_jackson-takes-on-the-rothschilds.

 

 

 

 

 

 

animated119.gif?w=188&h=105

Related articles

 

 

 

Thank you Maggie, excellent information and if one looks very close, we can begin to see

clearly the "who, what and why" of many issues going on today. I only wish more could understand

and see how it is all coming together.

 

We see the names of those who are going against the banking cartel, past and present. Yes, Germany tried

to do just that...Iran will not bow to the "order"...Syria will not bow to the "order"...I add to this Libya, they did

not want to bow to the "order"...what is happening to these "rogue" countries who are waking up to the crimes

and criminal actions of the Rothschilds stranglehold?

 

They are demonized and attacked, we are watching it take place in real time, gradually, with more of the WHO

that are behind the attacks. Yes, the US and Israel are very much involved, most refuse to see it because of

deception. The facts are clear from what I have gathered, and I hope to see more countries take the path of

resistance to what the REAL enemies are doing across the globe. Until we admit to WHO is behind these actions,

we cannot understand the "what and why" aspect of the attacks.

 

Those countries taking a stand against the thugs will be attacked in amny different ways, going on now. Those behind

the attacks and manipulation are the same players that have been pushing endless war for decades, but that is

wearing out slowly, due to nations tired of fighting wars for the same thugs, and this ia GOOD news, but they must

also be prepared for the tricks of the controllers...indeed Iceland IS the model, and they got away with it because they

are not considered "strategic" enough, but they will and have felt some backlash.

 

Truth is coming out, and it is NOT what most think. Until there is a willingness to see how this is working, and WHO is

behind it, we will continue to fight against the wrong parties. Funny how so many countries can see it, yet the majority

remain blind to how it works. There is now little room for denial when it comes to the WHO, now it is time to try and

figure out the "what and why"...and it has everything to do with those who are targeted and demonized, lied about

and how the tactics are used to grow conflict. This has been going on for centuries, it is ALWAYS about the money

and who benefits. Once that is admitted to, the rest begins to fall into place.

 

*IF* the countries mentioned are truly taking these steps, which I know some are, then watch what is being said about

them, and how the propaganda machine works. Good material, now we need to make sure there is follow through on

any progress before they get hammered...watch for it.

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First Switzerland sneaks outa the EU. Now Greece because of the welfare state the corrupt government setup to buy the votes of the

people, they are gonna get booted out just after they stop payments on their gym membership. There is at least 1 or 2 more countries that are on the fence about leaving the EU. Sounds to me like the EU is circling the drain.

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