Best of the Week
Most Popular
1. Market Decline Will Lead To Pension Collapse, USD Devaluation, And NWO - Raymond_Matison
2.Uber’s Nightmare Has Just Started - Stephen_McBride
3.Stock Market Crash Black Swan Event Set Up Sept 12th? - Brad_Gudgeon
4.GDow Stock Market Trend Forecast Update - Nadeem_Walayat
5.Gold Significant Correction Has Started - Clive_Maund
6.British Pound GBP vs Brexit Chaos Timeline - Nadeem_Walayat
7.Cameco Crash, Uranium Sector Won’t Catch a break - Richard_Mills
8.Recession 2020 Forecast : The New Risks & New Profits Of A Grand Experiment - Dan_Amerman
9.Gold When Global Insanity Prevails - Michael Ballanger
10.UK General Election Forecast 2019 - Betting Market Odds - Nadeem_Walayat
Last 7 days
FOMC Minutes Reveal an Important Shift That’s Key for Gold, Too - 22nd Nov 19
Adaptive Predictive Modeling Suggests Stock Market Weakness Into 2020 - 22nd Nov 19
Why You Should “Follow the Money” on The Yellow (and Silver) Brick Road - 22nd Nov 19
This Invisible Tech Stock Threatens Amazon with 800,000+ Online Stores - 21st Nov 19
Crude Oil Price Begins To Move Lower - 21st Nov 19
Cracks Spread in the Precious Metals Bullion Banks’ Price Management System - 21st Nov 19
Why Record-High Stock Prices Mean You Should Buy More - 20th Nov 19
This Invisible Company Powers Almost the Entire Finance Industry - 20th Nov 19
Zig-Zagging Gold Is Not Necessarily Bearish Gold - 20th Nov 19
Legal Status of Cannabis Seeds in the UK - 20th Nov 19
The Next Gold Rush Could Be About To Happen Here - 20th Nov 19
China's Grand Plan to Take Over the World - 19th Nov 19
Interest Rates Heading Zero or Negative to Prop Up Debt Bubble - 19th Nov 19
Plethora of Potential Financial Crisis Triggers - 19th Nov 19
Trade News Still Relevant? - 19th Nov 19
Comments on Catena Media Q3 Report 2019 - 19th Nov 19
Venezuela’s Hyperinflation Drags On For A Near Record—36 Months - 18th Nov 19
Intellectual Property as the New Guild System - 18th Nov 19
Gold Mining Stocks Q3’ 2019 Fundamentals - 18th Nov 19
The Best Way To Play The Coming Gold Boom - 18th Nov 19
What ECB’s Tiering Means for Gold - 17th Nov 19
DOJ Asked to Examine New Systemic Risk in Gold & Silver Markets - 17th Nov 19
Dow Jones Stock Market Cycle Update and are we there yet? - 17th Nov 19
When the Crude Oil Price Collapses Below $40 What Happens? PART III - 17th Nov 19
If History Repeats, Gold is Headed to $8,000 - 17th Nov 19
All You Need To Know About Cryptocurrency - 17th Nov 19
What happens To The Global Economy If Oil Collapses Below $40 – Part II - 15th Nov 19
America’s Exceptionalism’s Non-intervention Slide to Conquest, Empire - and Socialism - 15th Nov 19
Five Gold Charts to Contemplate as We Prepare for the New Year - 15th Nov 19
Best Gaming CPU Nov 2019 - Budget, Mid and High End PC System Processors - 15th Nov 19
Lend Money Without A Credit Check — Is That Possible? - 15th Nov 19

Market Oracle FREE Newsletter

$4 Billion Golden Oppoerunity

Greece Again Surrenders to Troika Bandits

Politics / Eurozone Debt Crisis May 10, 2016 - 03:33 PM GMT

By: Stephen_Lendman

Politics

On Sunday, long-suffering Greeks suffered another body blow. Parliamentarians voted 153 to 143 for greater austerity than already, exclusively benefitting Western bankers and large investors, social justice entirely ignored.

A three day anti-austerity strike featured protests and sit-ins. Large parts of Greece’s economy were shut down, including transport, schools and other public services to no avail.


Elected on a pledge to end neoliberal austerity, Prime Minister Alexis Tsipris’ SYRIZA regime betrayed its supporters, letting Western monied interests financially rape and pillage Greece more than already.

Again over the weekend. Legislation enacted included a 5.4 billion euro tax hike, hitting ordinary people hardest. Pensions were cut by 1.8 billion euros, value-added taxes raised from 23 - 24%, and pension contributions were increased by 20% for most workers.

Ordinary Greeks, the self-employed, small farmers and other sectors of the economy suffering most under neoliberal harshness are most affected.

Enacting the measure preceded an emergency Monday Brussels meeting, Greece forced to enact greater austerity harshness to qualify for another tranche of debt relief.

Troika bandits want more, three billion additional euros in “contingency measures” in case approved cuts fall short of meeting budget surplus targets.

At the same time, Eurozone finance ministers disagree on how much greater hardship Greece can sustain short of bankruptcy and debt default.

Instead of responsibly choosing Grexit and restructuring impossible to repay debt, Greece remains trapped in the Eurozone straightjacket.

It’s a money-controlled European colony, its sovereignty lost, looted for profit - a zombie economy, its people impoverished, enduring enormous pain and suffering to assure bankers and large investors get paid.

The only uncertainty about its future is how much worse things will get than already. The more it borrows, the greater its debt burden, the harder it is to repay, Troika bandits demanding new austerity measures to qualify for more debt relief.

Nothing in prospect suggests an end to Greece’s long nightmare as long as it chooses euro entrapment over sovereign freedom.

By Stephen Lendman
http://sjlendman.blogspot.com

His new book as editor and contributor is titled “Flashpoint in Ukraine: US Drive for Hegemony Risks WW III.”

http://www.claritypress.com/Lendman.html

He lives in Chicago and can be reached in Chicago at lendmanstephen@sbcglobal.net.

Also visit his blog site at sjlendman.blogspot.com and listen to The Global Research News Hour on RepublicBroadcasting.org Monday through Friday at 10AM US Central time for cutting-edge discussions with distinguished guests on world and national topics. All programs are archived for easy listening.

© 2016 Copyright Stephen Lendman - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules