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| | |-+  Creditors sabotaged the Greek debt negotiations, NTY says
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Author Topic: Creditors sabotaged the Greek debt negotiations, NTY says  (Read 196 times)
Antonio V
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« on: July 03, 2015, 03:53:03 am »
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Hopeful Start to Greek Debt Negotiations Quickly Soured

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For political reasons, the Tsipras government had said it would not cut pensions or do away with tax breaks that favored businesses serving tourists on the Greek islands. Instead, the new Greek plan envisaged a series of tax increases and increases in pension contributions to be borne by corporations.

The initial response seemed positive. Both Pierre Moscovici, a senior finance official at the European Commission who is known to be sympathetic toward Greece, and Jeroen Dijsselbloem, the head of Europe’s working group of finance ministers who is one of Greece’s harshest critics, said on Tuesday that the plan was promising.

The Greek team was elated. For the first time, the Greek numbers were adding up.

The next morning, though, that optimism evaporated.

Greece’s creditors — the I.M.F., the other eurozone nations and the European Central Bank — sent the Greek paper back and marked it in red where there were disagreements.

The criticisms were everywhere: too many tax increases, unifying value-added taxes, not enough spending cuts and more cuts needed on pension reforms.

The Greek team couldn’t believe it. The creditors had seemed to dial everything back to where the talks were six months ago.

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Then Mr. Varoufakis turned on Christine Lagarde, the French director of the I.M.F.

Five years ago, the fund had given its blessing to the first bailout, doling out loans alongside Europe despite internal misgivings that Greece would be in no position to repay them.

Now the I.M.F. was pushing Greece to sign up to yet another austerity program to access more loans even though the fund had now concluded that their initial misgivings were correct: Greece’s debt was unsustainable.

I have a question for Christine, Mr. Varoufakis said to the packed hall: Can the I.M.F. formally state in this meeting that this proposal we are being asked to sign will make the Greek debt sustainable?

Yanis has a point, Ms. Lagarde responded — the question of the debt needs to be addressed. (A spokesman for the fund later said that this was not an accurate description of the exchange.)


Clearly these people had no serious intent to actually negotiate an agreement to help Greece out of this situation. It was always "my way or highway", with their way being more spending cuts disproportionally affecting the Greek working class. Or is NYT a leftist rag now?
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sex-negative feminist prude
Nathan
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« Reply #1 on: July 03, 2015, 04:54:03 am »
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This sensibility on the right and in the center and among the Very Serious People that because the rogues' gallery that is Greece's recent string of governments has behaved poorly and negotiated in bad faith that somehow means that Greece's creditors are worth rooting for or respecting in any way has got to stop. Whether or not a country is solvent on paper or 'competitive' or whatever the hell else means nothing in the face of the serious, immediate human need that the poor put-upon creditors seem ideologically opposed to lifting a finger to alleviate.
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A shameless agrarian collectivist with no respect for private property or individual rights.

I didn't really read it, tbh.
dead0man
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« Reply #2 on: July 03, 2015, 05:19:46 am »
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Or is NYT a leftist rag now?
now?
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I believe the simple truth is that they became somewhat alarmed when they realized that I really meant to write what I believed. There is a peculiar parallel between some of our great Northern "liberals" and some of our outstanding Southern liberals.

Some of the people in both classes share the deep-seated convictions that only their convictions can possibly be the right ones. They both inevitably say the same thing: "We know the Negro and what is best for him."
London Man
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« Reply #3 on: July 03, 2015, 07:54:44 am »
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This sensibility on the right and in the center and among the Very Serious People that because the rogues' gallery that is Greece's recent string of governments has behaved poorly and negotiated in bad faith that somehow means that Greece's creditors are worth rooting for or respecting in any way has got to stop. Whether or not a country is solvent on paper or 'competitive' or whatever the hell else means nothing in the face of the serious, immediate human need that the poor put-upon creditors seem ideologically opposed to lifting a finger to alleviate.

Exactly - the ordinary people suffer when the lords play their Game of Thrones.
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Antonio V
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« Reply #4 on: July 03, 2015, 10:27:35 am »
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You have a brilliant sense of humor.
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