By Finian Cunningham – Sputnik – 29.06.2015 Decades of exorbitant military spending account for Greece’s present downfall under an Olympian-sized debt. European governments and news media portray the problem of Greece’s financial woes as public spending profligacy. The truth is that Greece’s debt mountain has been incurred from years of wasteful military splurging. That is […]
The jet stream pattern over Europe on July 1, 2015 (click to enlarge; source).by Gaius PubliusThis seems to have been a week of partial news. There's Greek news, but not much of it until the weekend.
By Boris Kagarlitsky | CounterPunch | July 2, 2015 For five years now Europe has been troubled by the problem of the Greek debt. It all began with a relatively modest sum estimated at 15-20 billion euros, though at the time coping even with this debt seemed beyond the country’s capacity. Instead of simply writing […]
The most optimistic scenario shows that Greece would face an unsustainable debt in 2030 even if it agreed to the package of tax increases and spending cuts proposed by the European commission, the European Central Bank and the IMF in exchange for a five-month €15.5bn loan from its creditors.
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Like Marathon, Thermopylae, Plateau, and Mycale roughly 2,500 years ago, Western freedom again depends on Greece. Today Washington and its empire of European vassal states are playing the part of the Persian Empire, and belatedly the Greeks have formed a government, Syriza, that refuses to submit to the Washington Empire.
Defaults are difficult. But even more so is austerity.
— Joseph E. Stiglitz and Martin Guzman, Huffington Post, June 30, 2015
This is a test. Will the internationalist banksters force extraction of their ill-gotten interest payments to bail out their reckless derivative trades gone wrong, or will a sovereign country abandon the chains of financial elite coercion and renounce their IMF and ECB debt? Make no mistake about it, Greece has lived high on the hog for decades and has serious internal problems. There is no free ride. However, the pain from the coming default is necessary to shed the yoke of a failed European Union construct.
Financial technocrats were put in place to serve the domestic oligarchy and foreign bondholders. Greece was under financial attack just as deadly as a military attack. Finance is war. That is this week’s lesson.
And for the first time, debtor countries are realizing that they are in a state of war.
The post A New Mode of Warfare – The Greek Debt Crisis and Crashing Markets appeared first on BSNEWS.
Yesterday we asked if the bell is tolling for Greece or for the E.U. We should have waited and had all our questions answered. One of the big Wall Street firms sent out an investor advisory to their clients. The Dow was down 350 points Monday, nearly 2% so...
