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April 5th, 2016 
Awake Goy 
Varoufakis said that Schäuble, Germany’s finance minister and the architect of the deals Greece signed in 2010 and 2012, was “consistent throughout”. “His view was ‘I’m not discussing the program – this was accepted by the previous [Greek] government and we can’t possibly allow an election to change anything.
“So at that point I said ‘Well perhaps we should simply not hold elections anymore for indebted countries’, and there was no answer. The only interpretation I can give [of their view] is, ‘Yes, that would be a good idea, but it would be difficult. So you either sign on the dotted line or you are out.’”
– From last year’s post: Everything You Need to Know About the Greek Crisis and ECB Fascism in Two Paragraphs
By now, most of you have heard about Wikileaks’ release of internal deliberations between the top two IMF officials in charge of managing the Greek debt crisis – Poul Thomsen, the head of the IMF’s European Department, and Delia Velkouleskou, the IMF Mission Chief for Greece.
In nutshell, the two discussed whether or not a new credit crisis would be required in order to force EU creditors to agree with the IMF’s debt relief objective. Shedding some much needed perspective on the situation, former Greek finance minister Yanis Varoufakis has chimed in, and he makes one thing perfectly clear — no matter who comes out ahead in this dispute (the IMF or the EU), it will be the Greek people who lose.
Here are a few excerpts from his op-ed published at Der Spiegel.
The feud between the International Monetary Fund (IMF) and the European side of Greece’s troika of creditors is old news. However, Wikileaks’ publication of a dialogue between key IMF players suggests that we are approaching something of a hazardous endgame.Ever since the first Greek ‘bailout’ program was signed, in May 2010, the IMF has been violating its own “primary directive”: the obligation not to fund insolvent governments. As a result, the IMF’s leadership has been facing a revolt from its staff members who demand an exit strategy arguing that, if the EU continues to obstruct the debt relief necessary to restore the solvency of the Greek government, the IMF should leave the Greek program.
Five years on, this IMF-EU impasse continues, causing a one-third collapse of Greek GDP and fuelling hopelessness to a degree that has made real reform harder than ever.
Read the Full Article »
Source Article from http://feedproxy.google.com/~r/blacklistednews/hKxa/~3/IuCHM0Pmx24/M.html
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