ATHENS – It is a tale of two realities. Later this week, Greek Prime Minister Alexis Tsipras will give his annual speech to the nation – Greece’s equivalent of the State of the Union address — at the 83rd Thessaloniki Trade Fair.
The US federal government has unveiled a new plan to subsidize American farmers whose business plans just don’t factor current market conditions. The federal handouts are expressed as being in the multiple billions in a plan that is being implemented not in the case of some natural disaster, but in the interest of remunerating farmers for changes in the demand for their products. But farmers are saying that they don’t want a bailout, but rather that they are more interested in extensive market stability.
While many Syria party members hailed Tsipras’ victory, the reality is that Greece will be stuck in its bailout for years to come.
The terms of Greece’s exit make it extremely difficult for the next government to bring life to an ailing economy. Greece may have exited the Troika austerity plan, only to enter a new austerity outside of ECB and EU protection.
Just a few weeks after Argentina became ground zero for the coming Emerging Market crisis, when its currency suddenly collapsed at the end of April amid soaring inflation, exploding capital outflows and a central bank that was far behind the curve (as in “13% of rate hikes in a week” behind)…
@media(max-width: 600px) {.adace_adsense_59cce7a06c003 {display:block !important;}}
@media(min-width: 601px) {.adace_adsense_59cce7a06c003 {display:block !important;}}
@media(min-width: 801px) {.adace_adsense_59cce7a06c003 {display:block !important;}}
@media(min-width: 961px) {.adace_adsense_59cce7a06c003 {display:block !important;}}
(adsbygoogle = window.adsbygoogle || []).push({});
Italy is bailing out two failed bank, putting taxpayers on the hook for $19 billion. When banks get bailed out, other bankers are encouraged to behave recklessly. After all, they aren't on the hook if a risky loan doesn't pay off; the taxpayer is. But it doesn't have to work this way.
A homeless person changes clothes outside a bank in central Athens. Nearly one-in-four Greeks are unemployed and receive no benefits. Poverty rates have surged here since the start of the crisis in late 2009, with nearly 36 percent of the country living in financial distress. (AP/Thanassis Stavrakis)
21st Century Wire says…
Oh, so you forgot about Greece?
If you only heard the ravings of mainstream media figureheads you’d be excused for thinking that the only thing going on in the world right now is their “Russiagate” conspiracy.
Former President Barack Obama pauses as he hosts a conversation on civic engagement and community organizing, April 24, 2017, at the University of Chicago. (AP/Charles Rex Arbogast)
Former President Barack Obama is garnering criticism for netting a whopping $400,000 for his first major speech since leaving office—a speech to Wall Street firm Cantor Fitzgerald, scheduled to take place in September.
Supporters of the communist-affiliated union PAME burn a EU flag during an anti-austerity rally in Athens, Wednesday, Mar. 1, 2017. (AP/Yorgos Karahalis)
