THERE WAS NOT FINAL DEAL ON GREECE
Hugo Adan Feb 20,
2015
In the official text of the deal is said “by the end of April”
will come the agreement:
The Eurogroup notes, in the framework of the existing arrangement, the request from the Greek authorities for
an extension of the Master Financial Assistance Facility Agreement (MFFA),
which is underpinned by a set of commitments. The purpose of the
extension is the successful completion of the review on the basis of the conditions
in the current arrangement,
making best use of the given flexibility which will be considered jointly with
the Greek authorities and the institutions. This extension would also bridge the time for discussions on a possible
follow-up arrangement between the Eurogroup, the institutions and Greece.
The Greek authorities will present a first list
of reform measures, based on the current
arrangement, by the end of Monday February 23. The
institutions will provide a first view whether this is sufficiently
comprehensive to be a valid starting point for a successful conclusion of the
review. This list will be further specified and then
agreed with the institutions by the end of April. http://www.zerohedge.com/news/2015-02-20/full-eurogroup-statement-greece
The text signed today 20th is not a final deal. It
can only be considered as final statement of today meeting. The
corporate media is presenting this text as final agreement with the intention of
coping with the negative economic effects of this issue. Once was said that an agreement was reach,
automatically the Econ indicators went up. The fact is that today words are not
the final agreement. “By the end of April” is coming
a possible agreement, is stated so in the official doct.
The extension of financial assistance agreed today (Feb 20th)
expires in 4 months, it means that the real final agreement is to be reached the
day 20th of June. Meanwhile all that we have is a bridge for talking’s
on the advances of works to be done by Greek authorities, like the one on
Monday Feb 23. At the most, today’s deal could be considered as win-win
situation for both sides. They both got time, the troika to avoid the immediate
collapse of the Euro and the collapse of the Union and the Greeks got time to
better assemble their plans with their people and time also to get an agreement
with Russia and China.
The unfair statement
in today’s deal is this one:
The
Greek authorities reiterate their unequivocal commitment to honour their
financial obligations to all their creditors fully and timely.
The
Greek authorities have also committed to ensure the appropriate primary fiscal
surpluses or financing proceeds required to guarantee debt sustainability in
line with the November 2012 Eurogroup statement. The institutions will, for the 2015 primary
surplus target, take the economic circumstances in 2015 into account. http://www.zerohedge.com/news/2015-02-20/full-eurogroup-statement-greece
This means that there is no way to cancel austerity with the
troika. Todays bla, bla made it clear. At least today Greeks leaders got what they wanted: no 6 but 4 months
extension period. HOWEVER, the statement above could be taken a sing of
betrayal to the Greek aspiration. Is that the US media and the European is
intending to portrait in the aim of delegitimizing the current Govt.
To both parts what count are actions, no words. Both agreed
that time extension was need. The
words “honoring financial obligations” are words. The troika never honor their
financial obligations: they should protect people from misery, hungry and health
decay. They did the opposite with their austerity plans. What they practice is
vulture capitalism; they extract capital from poor nations by promoting
speculation with the sovereign debt. The debt is their fault and if the troika want
to honor their ethical duty to protect people, they should canceled the whole
debt, no parts of it. If a thief return part of the money stolen and not the
whole, is obviously accepting his felony.
Regarding the extension time, What this means for Greeks?. Let’s
see
1st,
Greeks put down the threat of “today or never” placed by the corporate media. The
4 months extension means that Greeks transferred the problem “in vs.out” to them, to the EU.
2nd, It was clear that Greeks left to Germans & Europeans with this dilemma:
a- how to stop the domino effect of Grexit. To
solved it, they either have to print
enough money, at least 1 trillon euros to keep “the Pigs” inside the EU and
show them the mercy & miracles of the troika policies in Europe, OR..
b- declare the insolvency of European banks
and “salvece quien pueda”, bye bye EU. So Germans will be free from the burden
on their shoulders: the financing people that they consider pigs, with no sense
of ORDER, the requisite N1 to survive in neoliberal time. Pigs that in addition
use to discuss their bosses’ addiction to
explosive inequality in favor of tiny elites. To these bosses poverty &
austerity are need and ORDER implies that workers should keep their mouth shut.
3rd, it
was also clear the textual threat implicit in the statement “to honour their financial obligations to all
their creditors fully and timely”. They also have to “ensure the appropriate primary fiscal surpluses or financing
proceeds required to guarantee debt sustainability”, this could mean to
“pay the interest rates of 2012 for loans received”. In few words, austerity will continue and if they do
not accepted there will no be one single
penny for Greece. Why Europe became sadist with Greeks?
to let know the rest of pigs that any
subversion entails punishment.
Furthermore, the EU
is demanding Greek authorities to explain the above “text’ of the deal to their
voters, if they want to receive
financial support. They have to delegitimize themselves in front of their own people,
if they want money. In other words, they are demanding their resignation. .
opium dreams. Do Greek leaders singe
that? If yes, they don’t care for what papers said, they plan to quit.
4th, the fact is that this “deal” also left open doors
to discuss this issue later on. By the end of Monday February 23 Greeks should provide the list of reforms
to be discussed by the end of April. In sum, today
Feb 20, nothing was agreed, there were only quick words to further talking’s.
Of course the corporate media will claim victory in order to cook positive
economic effects in west markets. On the other hand, the Greeks have the chance
to trash these humiliating provisional “deal” in whatever day from now on to
the end of the 4th month of grace period (june 20th).
While the Greek exit will have strong negative economic
effect on EU business and politics too, Greece has the chance of making a deal
with Russia, China, Iran, etc to get a fresh start and a new life. The leaders should start thinking in building a
new society. Perhaps Aristotle’s dream will come back to their mind: the building
of a rhomboid society with few rich
people and few poor people and a huge amount of productive middle classes in
between.
Greek leaders have to
make plans with people to build a rhomboid society in Greece. There are many
experiences of auto-gestion worldwide. I saw schools run by teachers with shared decision
making in Andean Countries. Medical post run and city clinics run by Med
graduates intending to pay their student debt. Groups of workers creating their
own small enterprise for home construction and repairs.. In time of Rev or
rapid change, leaders like Greece have today are need., they are the ones who
can spark sunami of economic and social change in Greece. In Peru an agronomist
working for the State Agrarian Reform split from the Govt and decided to transfer
5 State coops to peasant communities and make a real Agrarian reform. They
planed the invasion for one night with 2 month of anticipation. In that night
not 5 but 79 State coops were took by peasant communities and the rest of the
Andes in Peru start a real agrarian change. The military Govt had to make a
deal with him. Did you planed this huge Mov? No, was his answer. I planned only 5 community coops, the leader responded.
It is the human capital the most important factor in socio-econ change. The
other money is needed too but is less important than human capital. I have visited
different countries in time of Rev and I
saw this fiber of change, places in which everybody wanted to run their own business..
Only leaders like the ones in Greece can
create such miracles. I friend told me that in Scandinavian countries, there were
experiments of rhomboid society too.. How
to finance these coops and self-directed enterprises? That requires the other capital and
cooperative banks.. How to convert workers into managers of small enterprises?.
Workers know the how to; technicalities is
all they need and graduate students from Univ can provide such help. What other
ways of creating middle classes in Greece?.. that is a Key Qt for Greek leaders
today.
Greek leaders are wasting
their time in talking with bureaucrats from big corp. Greeks don’t need big Corp, they need leaders like the ones in Greece today. So far they are responding good to the troika,
they are setting the path, an alternative way of dealing with them at world
level. In Argentina it happens twice, the 1st one was a failure and
the 2nd a success. In Greece is different, their leaders treat the
troika bosses in a very polite way and looking at them like cockroaches, simple
peleles of bankers & corporations.. …everybody like
these leaders. Now is time to trash the troika. They need to get 1st
the money from Russia & China to
finance effective projects. Their example
will be followed. People worldwide already admire them. Big corporations in
Europe &US are afraid of them. That is why they distort their actions and
their words.
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FULL EUROGROUP STATEMENT ON GREECE - Redline Comparison
With Previously Rejected Statement.
From: Zerohedge. com. Submitted by Tyler
Durden on 02/20/2015
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