JUL 15 SIT EC Y POL
ZERO HEDGE
July
5: Greek Independence Day; July 15: Greek In Dependence Day. S- by Tyler
Durden on 07/15/2015
The Greek parliament just voted, in a 229 for and 64 against
landslide, to implement the austerity Europe demands to grant Greece the funds
for Bailout #3 so that Greece can then repay European creditors (as opposed
to facing up to the pain imminently and suffering through a Grexit)
implicitly giving up their sovereignty and sending their 61% "Oxi"
voting citizenry into what will inevitably be an even deeper economic
depression.
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GREEK GOVERNMENT HAS VOTES TO
APPROVE BAILOUT BILL, TALLY SHOWS
A majority of 229 Greek lawmakers
voted in favor of bill which includes prior actions demanded by creditors for a
bailout agreement that the govt has applied for, Parliament Speaker says.
64 lawmakers voted against bill,
6 abstained, in Greece’s 300-seat chamber .
38 Lawmakers of governing Syriza
party, including former finance minister Yanis Varoufakis, former deputy
Finance Minister Nadia Valavani, and Energy Minister Panagiotis Lafazanis
didn’t support bill
Out of 149 Syriza MPs, 32 voted
against bill, 6 abstained, 1 didn’t show up
More to the point,
with 38 defections, Syriza has now officially lost its majority and a cabinet reshuffle is imminent as the drama goes on.
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Presenting
The "Greek Terms Of Surrender" As Annotated By Yanis Varoufakis.
S-by Tyler Durden on 07/15/15
The Euro Summit statement (or Terms of Greece’s Surrender
– as it will go down in history) was just annotated by Yanis Varoufakis as
it pertains to ordinary Greek citizens. As the former finance minister writes
"The original text is untouched with my notes confined to square brackets
(and in red). Read and weep…"
….
The Greek "deal" has already been dubbed "a
new Versailles Treaty" for good reason: for Greece, the agreement
which effectively abdicates sovereignty to Germany, is precisely that.
And while few if any in Greece - and certainly its
parliament - have carefully read the actual contents of the Summit statement,
and instead rushed to pass the deal shortly after 1am Athens time, with hopes
that just approving its contents may lead to the ECB blessing a prompt
reopening of banks so Greeks can resume withdrawing their frozen deposits
before the public realizes it was betrayed by its rulers once again, one person
who has read it is the former finance minister Yanis Varoufakis.
And not only that: just hours before what may be the most
critical vote in Greek history, he has released an annotated version of what
the Euro Summit statement really means for Greece. =è it continue..
http://www.zerohedge.com/news/2015-07-15/presenting-greek-terms-surrender-annotated-yanis-varoufakis
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China-Led
Bank Will "Keep America Honest," Provide Alternative To IMF, Nomura
Says. Submitted by Tyler Durden on 07/15/2015
"The AIIB may come to play an important role in keeping
America honest. It is difficult to say at this point whether
the AIIB will have a negative or a positive impact on the global economy. At
the very least, however, the emergence of an international institution with a
viewpoint different from that of western creditors will help enhance the
quality of debate over emerging economies’ debt problems."
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Unsound
Banking: Why Most Of The World’s Banks Are Headed For Collapse. submitted by Tyler
Durden on 07/15/2015
As a result, the world’s economy is now based upon
unsound banks dealing in unsound currencies. Both have degenerated considerably from their origins.
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When
Capitalism Turns To Cannibalism.
by Charles Hugh-Smith of OfTwoMinds blog . Submitted by Tyler Durden on 07/15/2015 [Here only a brief
extract ]
Correspondent Arshad Ali recently described the
underlying dynamic of finance capital in a Facebook post: a lack of authentic
growth is driving financial cannibalism:
"The modern banking system of the last few centuries has been based
on lending to borrowers who do something productive with the capital -- open a
mine, start a factory, start a ranch, drill an oil well. But this whole
equation becomes unstuck when -- because of a finite resource-constrained
planet -- there's nowhere productive to invest it anymore. That's when finance
capital becomes cannibalistic, as it has over the last few decades. That's why
the Greeks, for example, cannot grow themselves out of the debt pit -- there's
no growth to be had."
This is why corporations are "investing" in
their own shares--there's no place left to invest for growth. They are cannibalizing the entire financial
system, buying regulatory and tax favors from thoroughly corrupt political
systems to secure their profits, which are then used to remove shares from the
market, boosting the price-earnings ratio and the share price.
Insiders grant
themselves immense chunks of newly stocks via options which they promptly cash
in, reaping tens of millions in personal gains from the cannibalism.
Yes, authentic capitalism still exists, but it's been
relegated to the sideshow. The Big Tent with the Big Bucks is all
finance/cartel/state/crony capitalism, and financialization is devouring all the other players.
With authentic
growth scarce, there's no other way to reap huge
profits but cannibalism.
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The
Shocking 2008 AIG Report On "Empire Europe" And The Death Of Greece.
Submitted by Tyler Durden on 07/15/2015
"What Europe Wants"
- to use global issues as excuses to extend its power:
- environmental issues: increase control over member countries; advance idea of global governance
- terrorism: use excuse for greater control over police and judicial issues; increase extent of surveillance
- global financial crisis: kill two birds (free market; Anglo-Saxon economies) with one stone (Europe-wide regulator; attempts at global financial governance)
- EMU: create a crisis to force introduction of “European economic government”
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Economic
Confidence Hovers Near 8-Month Lows, Majority See Things Getting Worse.
Submitted by Tyler Durden on 07/15/2015
With
Small Business Optimism cratering to 15 month lows and CFO's
skepticism at 2 year lows, it is no surprise that 'average joe' is also
feeling a little less confident (despite the exuberance in equity markets). Gallup's
U.S. Economic Confidence Index registered at -11 this week, which
marked an eight-month low for the index. While current conditions are
weak, more worryingly, the economic outlook has tumbled to its lowest since
October with 56% of Americans saying "the economy is getting
worse."
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Tsipras
Says Will Be Difficult To Remain In Power As More Than Half Of Syriza Slam Deal.
Submitted by Tyler Durden on 07/15/2015
Update: TSIPRAS TELLS LAWMAKERS IT WILL BE
DIFFICULT TO REMAIN PM WITHOUT THEIR SUPPORT
Today, the Greek parliament is being asked to legislate away
its sovereignty in exchange for a bridge loan and a third bailout program that
should allow the country to remain in the euro. Facing a rebellion from within
Syriza, Tsipras will have to rely on opposition party support to secure
approval for what is effectively a German coup.
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Greece's
New German Overlords "Irritated" By Tsipras "I Don't Support
What I'm Doing" Comment. Submitted by Tyler
Durden on 07/15/2015
Comments by Greek Prime Minister Alexis Tsipras on Tuesday
evening undermined trust that Greek govt will take ownership of economic
adjustments in new bailout program, German Deputy Finance Minister Jens Spahn
says on ARD public television. Spahn is a member of Chancellor Angela Merkel’s
CDU party. “What the Greek prime minister did on Greek television
yesterday irritates me."
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"Rigged"
- The Most Absurd Global Financial Situation Ever. Submitted by Tyler
Durden on 07/15/2015
This is the most absurd global financial situation we can
remember. There may have been wilder outbreaks of mass fatuous behavior –
as Adam Smith could easily have said, there’s a great deal of absurdity in a
market. But we have long held that if you don’t understand the rules of the
game, best not to play the game. Doing anything in
markets today involves making a macro market call that is fundamentally
impossible. All markets have become speculative arenas courtesy of central
bank activity.
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Greek
Protesters And Riot Police Clash, Molotov Cocktails Thrown - Live Feed.
Submitted by Tyler Durden on 07/15/2015
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Submitted by Tyler
Durden on 07/15/2015 - 07:55
- Tsipras Braves Parliament on Aid as Greek Outlook Worsens (BBG)
- European markets rise before Yellen speech, Greek vote (Reuters)
- China’s Growth Beats Economists’ Forecast as Stimulus Kicks In (BBG)
- China stocks drop again, positive data shrugged off (Reuters)
- Yellen intensifies Republican outreach amid Fed probe, Senate bill (Reuters)
- Iran deal holds both promise and peril for Hillary Clinton (Reuters)
- Iranians Party Into the Night as Khamenei Backs Accord (BBG)
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Tsipras
Stunner: Creditors Said "There Is No Point In Holding Elections" In
Bailed Out Countries. Submitted by Tyler
Durden on 07/14/2015
GREEK PM TSIPRAS SAYS LENDERS GIVE A MESSAGE THAT IN
COUNTRIES UNDER A BAILOUT THERE IS NO POINT IN HOLDING ELECTIONS.
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INFORMATION CLEARING HOUSE
A New Versailles Treaty is Haunting Europe
By Yanis Varoufakis
By Yanis Varoufakis
The project of
European integration has, indeed, been fatally wounded over the past few days.
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Greece: Sound and Fury Signifying Much
By Paul Craig Roberts
By Paul Craig Roberts
The message from the
collapse of Syriza is that the social welfare system throughout the West will
be dismantled.
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For Russia it is
better to be with 3 billion creditors than 1 billion debtors,” the investor
explained.
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Russia, Not ISIS, Greatest Threat to US,
General Says
By Marcus Weisgerber
By Marcus Weisgerber
"I would put the
threats to this nation in the following order: Russia, China, Iran, North
Korea," Selva said.
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RT- SPUTNIK, THE HEAT FROM CCtv & RT LATEST SHOWS
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NEWS IN SPANISH
Grecia se construye en Europa. Syriza se ha rendido, es el momento
de reforzar las resistencias populares Theodoros
Karyotis
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Europa. Una posible alternativa al plan
negociado entre Alexis Tsipras y los acreedores. Eric Toussaint
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PRESS TV
Iran
must be part of Syria solution: US.
Thu Jul 16, 2015 US President Barack Obama says the crisis in Syria will
not be resolved without support from Iran, Russia, Turkey and other regional
countries.
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Russia
criticizes Israel over Iran talks.Thu
Jul 16, 2015 Russian Foreign Minister Sergey Lavrov criticizes Tel Aviv’s
opposition to the conclusion of nuclear talks between Iran and the P5+1
countries.
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US
presents resolution to UN on Iran . Wed Jul 15, 2015 The US presents a
draft resolution to the UN Security Council that would lift all sanctions
against Iran related to its nuclear program.
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Obama,
Putin discuss Iran agreement. Wed Jul 15, 2015 The White House says US
President Barack Obama has called Russian President Vladimir Putin to discuss
the Iran nuclear agreement.
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AIPAC
to Congress: Reject Iran accord Wed Jul 15, 2015 The most powerful
pro-Israel lobbying group in the United States has called on the US Congress to
reject the Iran nuclear agreement.
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Israel
must declare nukes: Arab League. Wed Jul 15, 2015 The Arab League chief
has called on Israel to declare its nuclear weapons.
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Greek
parliament approves tough reform bill. Wed Jul 15, 2015 The Greek
parliament has approved a tough reform bill demanded by the country’s
international creditors amid violent protests in Athens.
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