JUL 17 SIT EC y Pol
LATEST FROM EURONEWS.com [Read my note in blackets]
The European Council has announced a 7.16 billion euro bridge
loan for Greece.
Furthermore, the question of debt restructuring – not part of the deal reached between Athens and its
creditors earlier this week – is now back on the table.
Valdis Dombrovskis, the EU Commissioner for the Euro said
the issue “is certainly back on the agenda.”.Dombrovskis also said that “it was also a clear
conclusion by the Euro Summit that there would be no nominal haircut
(an agreed percentage reduction in the amount of debt to be repaid to
creditors),” Dombrovskis explained.
The International Monetary Fund (IMF) has
been insisting that debt restructuring be part of any new financial rescue
package for Greece. IMF Managing Director, Christine Lagarde said “significant
restructuring” could “take the form of a re-profiling for Greece.”
“I’m very realistic and we try to be. What we heard loud and clear is that euro area
members are not particularly keen to do haircuts,” Lagarde added.
[[ Que los jefes del EURO SUMMIT y el IMF pongan
el tema REESTRUCTURACION DE LA DEUDA , lo que
significa re-negociar la deuda dada la
imposibilidad de que un Estado-Nacion pueda cumplir un acuerdo de pago impuesto
por los acreedores, significa solo que quieren curarse en salud de un
mal que se avecina.
A- La reestructuraccion puede ocurrir
antes del default (cuando se deja de
pagar la deuda contraída) que es lo que se supone va a ocurrir luego en Grecia y/o
puede ocurrir durante y después del default. En ambos casos el
país deudor apunta al “canje de deuda”: es decir, a dejar sin efecto la vieja
deuda por nueva deuda. En la nueva deuda el Estado negocia con los tenedores de
deuda un alivio o descuento, más la cancelación de intereses. ARG en el 2010 logro casi un 70% de quita o descuento
en la deuda, gracias a la reestructuración. Quiza a esto apuntaba la conversa
entre lideres griegos y los de otros paises deudores: a re-iniciar un Mov pero en
bloque. Se apuntaba a algo similar como un
NEW DEAL (si usamos la experiencia de FDR) que limite la voracidad y abusos de la troika. De ser
asi, lo que busca el IMF es prevenir que eso ocurra. De ocurrir un mov en bloque,
eso si podría desencadenar la caída del euro y la UE.
B- Cuando es un Estado el deudor
estamos frente a deuda soberana. Lo que supone que el país deudor emitió Bonos
o títulos de deuda por el dinero prestado por
entidades financieras, por empresas y por grandes millonarios caso Paul Singer o Soros en los EEUU, a quienes se denomina tenedores
de Bonos.
Según el
canciller ARG Timerman, declarar a un
Estado soberano en desacato frente a asociaciones financieras privadas es una
"violación al
derecho internacional".
En realidad no existen ley de la ONU ni sus organismos regionales que avalen lo
ocurrido en Grecia. Solo existen reglas impuestas por una de las partes en
conflicto: El BM, el IMF y los Bancos europeos.
C- El problema mayor de las “reestructuraciones”
de deuda es que los grandes tenedores privados de bonos se asocian, forman bloque,
la de los llamados “fondos buitre”. Estos son los que se oponen a la
reestructuracion de deuda. Estos operan a través de Bancos privados como el Mellon Bank de NY
para el caso ARG (el fondo buitre compro incluso jueces y una banda de abogados
para legitimar el saqueo). Los bonos
tienen fecha de vencimiento y es cuando el plazo de deuda esta por vencerce y
cuando un Estado es declarado en default, es entonces cuando las mafias buitres
operan. Cuando un país soberano esta en
default , vende sus bonos a precio de regalo. Los fondos buitre lo compran y
los revenden en Wall Street o cualquier
bolsa de valores a alto precio. Asi fue como a Arg se le pidió que pague no
solo el prestamo de $1,300 Mill sino además $200 Mill por concepto de
intereses. Las privatizaciones operan con la misma dinámica. En Grecia ya se ha
puesto precio a las Islas y las mafias buitre las van a comprar para
revenderlas. Si el Estado soberano quiere rescatarlas tendrá que pagar no solo el
precio original de venta, sino el precio en la Bolsas de Valores.
D- La reestructuracion es la unica
via “democrática”, digamos mejor pacifica de arreglar un problema que pronto habrá
de estallar: la imposibilidad de los pagos. La austeriad ha significado muerte LENTA para los griegos, su sistema de salud esta
siendo desmontado, los viejos van a ser más golpeados, el integro de la nación va
a sufrir más de los que ya vivieron y lo que narra el VIDEO JUICIO A LA TROIKA: URL https://youtu.be/BLB3uu1IXM0. Entonces se convencerán que es preferible la
muerte rápida en una insurrección popular contra la troika que la muerte lenta
que hoy viven.]]
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ZERO HEDGE
Martin
Armstrong: "Those In Power Will Risk War And Civil Unrest To Preserve
It". Submitted by Tyler
Durden on 07/17/2015
"The IMF acts as a member of the Troika, yet has no
elected position whatsoever. The second unelected member is Mario Draghi of the
ECB. Then the head of Europe is also unelected by the people...This is
authoritarian government if we have ever seen one... The Invisible Hand of
Adam Smith works even in this instance – those in power are only interested
in their self-interest and will risk war and civil unrest to maintain their
failed dreams of power."
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The
Bankruptcy Of The Planet Accelerates - 24 Nations Are Currently Facing A Debt
Crisis. Submitted by Tyler
Durden on 07/17/2015
There has been so much attention on Greece in recent weeks,
but the truth is that Greece represents only a very tiny fraction of an
unprecedented global debt bomb which threatens to explode at any moment. The
only “solution” under our current system is to kick the can down the road for
as long as we can until this colossal debt pyramid finally collapses in upon
itself.
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Greece
Is Now A Full-Blown Humanitarian Crisis - In 9 Charts. S- by Tyler
Durden on 07/17/2015
The people of Greece are facing further years of economic
hardship following a Eurozone agreement over the terms of a third bailout.
The deal included more tax rises and spending cuts, despite the Syriza
government coming to power promising to end what it described as the
"humiliation and pain" of austerity. With the country having already
endured years of economic contraction since the global downturn, The BBC asks, just how
does Greece's ordeal compare with other recessions and how have the lives of
the country's people been affected?
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When
It Comes To Total Debt, Greece Is Not That Much Worse Than France (Or The USA).
Submitted by Tyler Durden on 07/17/2015
Now that even the IMF has admitted Greece has an
unsustainable debt problem with a debt-to-GDP ratio which will soon cross 200%
after its third bailout (even if it leaves open the question what the IMF
thinks about Japan's debt "sustainability") we wonder what the IMF
thinks when looking at Greece's net government liabilities, which as SocGen's
Albert Edwards reminds us are rapidly approaching 1000%. Which
incidentally means that Greece is only marginally better than the USA, whose
comparable net liability is a little over 500%, while its other nearest
comparable is none other than France, whose next president may will be
"Madame
Frexit" and whose biggest headache will be how to resolve government
promises to creditors and retirees that are five times greater than the
country's GDP.
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PERU
SUED BY ILLINOIS FIRM FOR UNPAID BIRDSHIT BONDS. Submitted by Tyler
Durden on 07/17/2015
As Bloomberg
reports, Illinois-based MMA
Consultants 1 Inc has filed suit in U.S. District Court in connection with
money the firm says it is owed by The Republic of Peru for bonds issued in
1875. Here’s more:
Fourteen bonds the country
issued in 1875 .. are now held by an Illinois firm that says it’s having a hard
time redeeming them.
MMA said it sent three letters
to Peru’s Minister of Economics and Finance requesting payment to no avail. The
company is suing for breach of contract. It didn’t reveal in the lawsuit how it
came by the bonds.
If that were the
whole story, it wouldn’t be all that interesting. Fortunately, there’s
more:
[The] bonds were issued to pay
off debt to a U.S. guano consignment company.
Each bond promised a payoff of
$1,000 "United States Gold coin" plus 7 percent interest a
year, according to the complaint filed Thursday by MMA Consultants 1 Inc. in
federal court in New York.
The bonds bear the signature of Don
Manuel Freyre, who is described as the "Envoy Extraordinaire and Minister
Plenipotentiary of Peru," according to the complaint
Because we cannot imagine what we could possibly add that
would make this any more amusing than it already is, we’ll simply leave you
with the following summary:
MMA Consultants 1 is attempting to collect what, with
interest, amounts to $182 million in gold coins from "Envoy
Extraordinaire" Don Manuel Freyre, in
connection with bonds Peru issued 140 years ago to pay off a debt to a seabird dung consignment company.
….
[ DEL BIRDSHIT NACIERON MUCHOS RICOS FORANEOS El Guano de las
costas de Peru, el abono hasta ahora mas preciado del mundo, fue saqueado por
empresas britanicas y otras en el siglo 19; estas lo vendieron a precio de oro en Europa. Por
que a Europa? Porque fue allí donde las tierras fueron diezmadas por la
revolucion industrial. Gracias al guano de las aves guaneras de Peru, los campos de Europa volvieron a florecer. El
lio entre las firmas extranjeras que saquearon este abono en Peru y quienes lo
compraron en Europa no tiene nada que ver con el Estado. El estado entrego la comercialización de este
abono a una firma extranjera –al parecer británica- y esta jamas pago su deuda
a Peru. Creer que el portador de
billetes peruanos tiene en su manos un
Bono emitido por el Estado, es falsificar la historia. Todos los billetes
peruanos llevaban el simbólico acrónimo de
"valor en oro". Pero legalmente jamas se establecio su convertibilidad al oro. De
otro lado, NO HAY QUE CONFUNDIR PAPEL DINERO CON BONO. Los billetes que aparecen en
el art NO SON BONOS, son solo papel moneda. Bono es un títulos de deuda por el dinero prestado -en este caso a Peru- por entidades financieras. Bono es un contrato de pago de deuda que
lleva fecha de vencimiento. Hacer creer
que quien porta una moneda de papel antigua es portador de un bono del estado
lleva la intención de cometer fraude. Quere patentar un billete antiguo de Peru como Bono se parece
al fraude de una firma americana de música que patento el condor pasa de los
incas como de su propiedad. En el sur de
Chile, en Concepcion, encontre un viejito que como mi abuelo coleccionaba
billetes antiguos, entre ellos exhibía el billete de mil soles peruanos. Se
puede cambiar este billete en Peru?, me pregunto. SI, le dije, pero es el Banco
de la Nacion, quien certifica su autenticidad y solo te daría la misma cantidad
en billetes actuales. En cambio, si lo vendes a un coleccionista de monedas
antiguas, este hace el tramite de verificación y te da algo mas por el billete. Pero jamas te daría
su equivalente en oro, porque ese papel moneda no fue fabricado para tal convertibilidad. Eso de "mil
soles en oro peruano" solo sirve para enganiar bobos. "Valor en oro" es una forma simbolica de decir que
la moneda peruana vales mucho. Pero hubo
momentos en que la moneda estuvo tan devaluada que con los mil solo se
compraban 20 panes, le dije. Por eso no todos los billetes antiguos se pueden
cambar a su equivalente actual. Que un extranjero tenga ese billete, no
significa que tenga un Bono del Estado Peruano, sino solo que recibio ese papel moneda porque participo en el saqueo
del abono peruano. No tengo a la mano el nombre de la firma extranjera que se
encargo de comercializar EL ABONO EN EUROPA, pero Jorge Basadre, indico que esa
firma adeuda mucho a Peru. Es posible que el portador de ese papel moneda tenga
que ver algo con la firma que saqueo el abono peruano. No es Peru quien debe a
ellos, son ellos quienes deben a Peru y no solo al Estado sino también a los
miles de trabajadores que laboraron como esclavos para sacar y empaquetar ese guano para que los barcos de la firma privada
lo comercialicen en Europa. Se hicieron millonarios con esa transacción y es
hora de abrirles juicio, no solo por las deudas a Peru, sino por querer burla la fe pública y por
querer dañar la imagen y reputación de Peru en el mundo. ]
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Iran Is Hiding 51 Million Oil Barrels At Sea, Maritime Tracker Reports. S- by Tyler Durden on 07/17/15
With
yesterday's appearance what seems like the first Iran oil tanker to set
sail post-nuke-deal, Haaretz
reports that Iran has been hiding millions of barrels of oil it never
reported to the United States or in the world oil market, according to a
company that has developed sophisticated maritime tracking technology. With the
world’s fourth-largest oil reserves, Iran denies it’s storing oil at sea,
despite reports that surfaced in The New York Times as early as 2012; but Ami
Daniel, Windward founder and cochairman, shows "the Iranians are
taking huge, 280-meter-long ships and filling them with oil, to sit at sea and
wait. Because the sanctions allow for production of only three million
barrels a day, they began storing the remainder... oil tankers have been
sitting in the Gulf for anywhere between three and six months, just waiting
for orders."
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Thank
Goodness Everything's Fixed. Submitted by Tyler
Durden on 07/17/2015
The trick is to borrow as much
as you can and leverage it to the hilt, and buy, buy, buy.
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Nigel
Farage Blasts Obama's "Everything Is Awesome" Narrative, Explains Why
Euro Was A Delusional Dream. Submitted by Tyler
Durden on 07/17/2015
"As you will know, because Obama keeps telling
you this, and The State Department keeps telling you this, and the American
press keeps telling you this, 'everything is going wonderfully well in
Europe... there is absolutely nothing to worry about at all... the eurozone is
a fantastic success... and there are lots of American businesses like Goldman
Sachs'... well that opinion is not right!" The Euro project was
a delusional dream for it was never designed to succeed but to cut corners all
in hope of creating the United States of Europe to challenge the USA and dethrone
the dollar, That dream has turned into a nightmare and will never raise
Europe to that lofty goal of the financial capitol of the world.
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"Mark
It Zero" National Bank Of Greece Plunges Towards New Lows. Submitted
by Tyler Durden on 07/17/2015
Remember when Greece was fixed... when The ECB
extended its ELA to Greek banks and bridge loans were provided to repay The
ECB? As
we noted previously, it seems Greek banks are a sell at any price and today's
continued crash in National Bank of Greece ADRs ahead of 'supposedly' a
Greek bank re-opening on Monday, suggest "mark it zero"
is coming soon to some knife-catchers' portfolios.
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The preposterous Gong Show in Brussels over the weekend
was the financial “Ben Tre” moment for the Euro and ECB. That is, it was
the moment when the Germans - imitating the American military on that ghastly
morning in February 1968 - set fire to the Eurozone in order to save it. In
short, Greece will become an outright debtors’ colony and its government
will function as page-boy legislators for the Troika occupiers. Needless to
say, political and social upheaval will erupt when the full extent of the
Tsipras surrender becomes evident, and the resulting political
contagion will spread throughout the length and breadth of Europe as
Greece implodes. In due course, the euro will collapse and the baleful
Keynesian money printers’ regime in Frankfurt will be repudiated and
dismantled. But not before European democracy has a brush with death, and
European prosperity is extinguished for a generation.
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"Bank
Lives Matter" – Obama Administration Moves To Protect Mega Bank Profits.
Submitted by Tyler Durden on 07/17/2015
It’s not even “Too Big to Jail” any longer. It’s now, “Too
Big to Lose Profits.” After all #banklivesmatter
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China
Just Created A Half-A-Trillion "Plunge Protection" Frankenstein.
S- by Tyler Durden on 07/17/15
China’s central bank is officially in the business of
financing leveraged stock buying and as Bloomberg reports, the country's
state-run margin lender now has the capacity to pump the equivalent of five
Greek bailouts into leveraged stock trades.
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Greek
Banks Will Not Re-Open Monday Even As Loan To Repay ECB Approved. Submitted
by Tyler Durden on 07/17/2015
The timing could not be worse from a visual perspective but
within minutes of the Eurogroup
confirming that they approved the €7.16 billion bridge loan (which will
merely be recycled back to The ECB to ensure the appearance of normalcy continues),
local reports that the Greek finance ministry says banks will not re-open on
Monday (as promised). Welcome to the new normal Europe... where the elites
get their mony and the people... not so much.
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Ex-IMF
Chief: Germany Should Leave The Euro, Not Greece. Submitted by Tyler
Durden on 07/17/2015
In her euro-hegemonic role Germany failed to properly handle
the Greek Crisis. What economics have been whispering among themselves after
the scandalous Brussels Agreement of July 13th is now on the public discussion.
One of IMF’s former European bailouts official, Ashoka Mody made it very
clear in his article on Bloomberg on Friday
morning: It’s Germany not Greece that has to leave the eurozone.
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More
Job Losses Coming To U.S. Shale. Submitted by Tyler
Durden on 07/17/2015
The coming few months will prove challenging for the
sector, and some small and medium U.S. producers may start missing their debt
repayments or even file for bankruptcy. Quicksilver Resources and American
Eagle Energy are two of the six U.S. based companies that have filed for
bankruptcy in 2015 so far. Sabine Oil and Gas Corp. is the latest, and the
biggest, U.S. producer to file for bankruptcy so far. Even mergers and
acquisitions have slowed down considerably for the U.S. oil and gas industry in
2015. If the present trend persists, companies will have no choice but to cut
their workforces even further to remain competitive and reduce their rising
overheads. If oil prices remain in the range of $50 per barrel for
longer than expected, even big operators such as Exxon Mobil, Chevron and
ConocoPhillips (who have so far not made any major layoffs) could start
downsizing their workforce.
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Germany
Approves Third Greek Bailout By Wide Margin Despite Surge In "Nein"
Votes. Submitted by Tyler
Durden on 07/17/2015
Following Wednesday's Greek vote approving the draconian
terms of the Third Greek bailout, the next biggest hurdle for the
implementation of another round of Greek aid was Germany's parliamentary vote
whether to endorse the terms cobbled together over last weekend. Moments ago it
did just that in a vote which had been widely expected to pass without
complications, when 439 members of the lower house of parliament voted in
favor Berlin to starting negotiations on a third bailout program for Greece,
119 voted against and 40 abstained. A total of 598 votes were cast.
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Greek
Deal "Categorically Not Viable" Without Debt Relief, IMF Insists.
S- by Tyler Durden on 07/17/15
As lawmakers across Europe debate bridge financing and a
third Greek bailout, IMF chief Christine Lagarde is out reiterating her stance
on Greece's debt sustainability. Although Lagarde insists the IMF will not
participate without some manner of debt relief for the Greeks, it now appears
she is resigned to the fact that Germany will never agree to an upfront
haircut.
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Submitted by Tyler
Durden on 07/17/2015 - 07:34
- Back Greek talks or face chaos, Merkel tells German lawmakers (Reuters)
- Fear of the Unknown Binds a Greek Deal With Few Believers (WSJ)
- Grexit Still on the Table Even With EU’s Latest Band-Aid (BBG)
- Donald Tusk warns of extremist political contagion (FT)
- Germany, Not Greece, Should Exit the Euro (BBG)
- Sabine Files Bankruptcy in New York as Oil Prices Fall (BBG)
- Markets Bow to Central Bankers as Bonds Rise, Pound Strengthens (BBG)
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Greece
Is Just The Beginning: The 21st Century 'Enclosures' Have Begun. Submitted
by Tyler Durden on 07/16/2015
Greece is only the beginning. Greeks driven out of
their country by the collapsed economy, demise of the social welfare system,
and extraordinary rate of unemployment will take their poverty to other EU
countries. Members of the EU are not bound by national boundaries and can
freely emigrate. Closing down the support system in Greece will drive Greeks
into the support systems of other EU countries, which will be closed down in
turn by the One Percent’s privatizations. The 21st century Enclosures
have begun.
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GLOBAL RESEARCH
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INFORMATION CLEARING HOUSE
Netanyahu and AIPAC,
the Saudis and Gulf Arabs, will demand that Congress kill the Iran deal that
Lindsey Graham says is a "death sentence for the State of Israel."
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Why Is Washington Addicted to War?
By Scott McConnell
By Scott McConnell
How did we arrive at
this strange place—a de facto alliance with neo-Nazis and Chechen Islamists—waging
a proxy war against Moscow on Russia’s border.
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Greece’s Lesson For Russia
By Paul Craig Roberts
By Paul Craig Roberts
The West simply
cannot be trusted.
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The Crucifixion of Greece is Killing the
European Project
By Seumas Milne
By Seumas Milne
This attempt to turn
Athens into a debt colony will fail – and open the way to the breakup of the Eurozone
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The End of Capitalism Has Begun
By Paul Mason
By Paul Mason
Without us noticing,
we are entering the postcapitalist era. At the heart of further change to come
is information technology, new ways of working and the sharing economy.
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Chicago’s Rebel Rabbi
By Eli Ungar-Sargon
By Eli Ungar-Sargon
"We must stand
with the oppressed and call out the oppressor"
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NOTICIAS EN ESPAÑOL
ASIA
CENTRAL: SE GESTAN ”GUERRAS EN SERIE ” en la región más estratégica de la planeta.
por Nazanin Armanian. El “Arco
de crisis” es «santo y seña» del proyecto diseñado en 1978 por
Zbigniew Brzezinski, de provocar tensiones étnico-religiosas en las
proximidades de Rusia y China, desde el Cáucaso y Oriente Próximo hasta Asia
Central y las costas del Océano Índico, valiéndose del fundamentalismo
religioso. http://www.nazanin.es/?p=11907
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La
actualidad internacional, semana a semana y NO SE DEJEN ENGAÑAR POR EL ACUERDO
NUCLEAR ENTRE EEUU E IRÁN. EL PLAN DEL PENTÁGONO ES AMPLIAR EL DOMINIO DEL
ESTADO ISLÁMICO HASTA ASIA CENTRAL!. http://us6.campaign-archive1.com/?u=81120d27df6b8fa7ec2ab3a33&id=9fd51dbeeb
Desde Eurasia hasta Oriente Próximo pasando por Asia
Central y Norte de África, el mapa del mundo está cambiando con una
velocidad de vértigo. Pero, ¿hacia dónde va? Trataremos las razones de
dichos conflictos y sus consecuencias geopolíticas.
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La bancarrota de Syriza y el
desastre griego. Luis Arce Borja
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A
propósito de la Declaración de la Cumbre del Euro sobre Grecia. Primeras impresiones. Yanis Varufakis
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PRESS TV
Tsipras
rejigs cabinet in show of authority. Fri Jul 17, 2015 Greek Prime Minister Alexis Tsipras reshuffles his
cabinet in an effort to show the country’s creditors that he is in control of
an increasingly rebellious government.
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Tsipras
to pay over austerity U-turn?. Fri
Jul 17, 2015 A report says rising opposition to tough austerity policies is
widening a split in Greece’s ruling Syriza Party.
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More
in US view Clinton, GOP negatively. Fri Jul 17, 2015 More Americans now have an unfavorable view of both
Hillary Clinton and her Republican rivals, according to a new poll.
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EU
approves short-term loan for Greece. Fri Jul 17, 2015 The European Union gives the green light to a
short-term 7.16-billion-euro loan to debt-stricken Greece.
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