Submitted by: Donald Hank
It seems the Greek Parliament has decided that the Greek debt to the Troika
(ie, IMF, or International Monetary Fund, ECB, or European Central Bank, and EU,
which you know if you don't live in a cave) is illegal. That is big news because
it could easily culminate in the dissolution of the EU (which would also affect
the US economy deeply -- but would also help restore sovereignty to European
nations groaning under the Brussels dictatorship). Here is the story
As I had said in the preface to a ZH article that I forwarded just
today (last link below), the Greeks are owed several billion by the Germans due
to an old war debt, although no one wants to talk about it. It seems a
US controlled court declared this debt null and void just after WW II. No one
can convince the Greeks that they owe the Germans one thin dime, and in a moral
and ethical world, they don't. But even back then, the US government was
arbitrarily deciding the fates of the world, and leaning a bit toward the
fascists, as they are today in Ukraine.
So the Greeks are looking for a way out, any way at all.
Now, I just happen to be reading a Greek-language news report about a
related item -- mostly just to practice my Greek. This report says that the
Russian Minister of the Economy, Sergei Stortsak, has declared that
unfortunately, Russia cannot help Greece financially out of its crisis
because Greece is part of the EU and only the EU can be the primary lender. That
in fact is the EU rule if I understand correctly.
But Stortsak did NOT say that only because it is true. He had an ulterior
motive. In fact, Russia wants to apply pressure on Greece to exit the EU
(so-called Grexit), and this is his way of applying pressure on Greece to
default on its debt. In other words, Stortsak wants Greece to know that Russia
is waiting in the wings to help but as long as Greece is part of the EU, that
will be impossible. The help, incidentally, would most likely be an advance
payment on construction of the Greek segment of the Turkish Stream.
(The US is screaming to the Greeks not to allow this and wants to substitute a
pipeline project of its own. The Greeks pretty much told the US to such eggs.
Remember that Obama screamed at his "allies" not to join the AIIB, just before
they almost all joined).
THEREFORE, what is the only option left for Greece at this point?
Why of course, default on the debt and exit the EU. It is
an absolutely brilliant move on the part of the Kremlin and of Greek
president Tsipras, who has just returned from a trip to the Kremlin.
Thus I think we can safely say that today's decision to declare the Troika
debt "illegal" is a result of Greece's acceptance of the Russian offer, which as
shown above, was phrased as a non-offer. But diplomats and readers of
geopolitical clues know how to interpret the words of diplomats, don't we?
There is no "done deal" at this point, but the above is my analysis of
events so far.
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