by Scott Creighton
UPDATE: Tsipras is currently begging for another loan in the wake of the “NO” mandate given him by the brave people of Greece. Dutch prime minister says he will have to accept “deep reforms” (more brutal austerity) in order for that too happen. So much for “NO”
UPDATE: These sociopaths can’t take “NO” for an answer. They will rip success from the jaws of defeat. That is how important their ideology is to them. That is how deep their commitment to the system runs. “German Social Democrat and Vice Chancellor Sigmar Gabriel said that by holding the referendum, Syriza had “torn down the last bridges across which Europe and Greece could move towards a compromise.” If Greece wanted to stay in the euro zone, he declared, it had to present proposals “that go beyond those presented so far.” WSWS
The rock star is “officially” gone (but still lingering around making suggestions) and Tsipras is on his way to Brussels with yet another deal in his sticky little fingers to offer up to the masters of the universe at the Troika. That one supposedly requires a 30% haircut taken by the banksters on the odious debt that should be dismissed out of hand by anyone pretending to represent the Greek people. But that can’t be allowed.
Now that Syriza finally has it’s mandate from the people to end austerity, many are asking “what next?” What will they do with it.
I say, as I always have, don’t listen to what they say, watch what they do.
It is being reported that Tsipras wants a 30% reduction on the 350+ billion dollar debt owed to the IMF and other international creditors. In exchange he will sign on for a new bailout and get an extension of the loan they already have, restructuring that odious debt to the tune of 20 years.
Do you know what happens when you restructure your home loan? The banksters get more money in profits, that’s what happens.
I read somewhere yesterday that the IMF has already made 2.5 billion in profits from the Greek loans taken by complicit corrupt Greek politicians in the past. And that is too say nothing of the billions made by the international oligarchs via the privatizations that have already helped to cripple Greece’s tax-base.
If you want to understand how these “loans” work to “help” the people of Greece, just take a look at this one simple graph of the unemployment rate in their country and compare it to the timeline of the two previous loans keeping in mind how Goldman Sachs deliberately sold toxic assets to the country via the credit default swaps and worthless sub-prime derivatives.