Tsipras Vows to Reject Unfair Deal as EU Braces for Collapse

[Purveyor]

Source: Bloomberg

by Marcus BensassonNikos Chrysoloras
June 17, 2015 — 5:28 AM EDT

reek Prime Minister Alexis Tsipras said he’s ready to assume responsibility for the consequences of rejecting an unfair deal with creditors.

In a sign that he’s being taken at his word, officials from the Netherlands, Portugal and Germany said they were bracing for a breakdown in talks that could roil the currency bloc.

With a viable solution “the Greek government recently elected by the Greek people will bear the cost of carrying through,” Tsipras told reporters in Athens on Wednesday. Without one, “we will assume the responsibility to say ‘the great no’ to a continuation of the catastrophic policies.”

The Athens Stock Exchange erased its gains after the prime minister’s comments with the clock ticking down to an expiration of Greece’s financial lifeline on June 30. Talks between Greece and its creditors are stalled as euro-area finance ministers prepare to meet in Luxembourg on Thursday. The gathering has been billed as a last chance to seal an agreement on as much as 7.2 billion euros ($8.1 billion) in bailout aid.

Read more: http://www.bloomberg.com/news/articles/2015-06-17/greece-told-reform-isn-t-crazy-as-central-bank-warns-of-eu-exit

[Javaman]

1. Good on Greece saying no to the EU "Payday Lenders" type offer...

the IMF wants to manipulate Greece into being the sweatshop of Europe by basically making it an indentured slave.

Greece is looking for a fair deal and not to be shaken down ad infinitum.

[bvar22]

4. That is SOP for the predatory lender....the IMF.

Look what the IMF (and Global Banks) did to Gaddafi when he told them to stay the fuck out of Africa, and used Oil Money to undercut any of the development "loans" collateralize by Africa's Natural Resources.

” For all his dictatorial megalomania, Gaddafi is a committed pan-African - a fierce defender of African unity. Libya was not in debt to international bankers. It did not borrow cash from the International Monetary Fund for any "structural adjustment". It used oil money for social services - including the Great Man Made River project, and investment/aid to sub-Saharan countries. Its independent central bank was not manipulated by the Western financial system. All in all a very bad example for the developing world.”

http://www.atimes.com/atimes/Middle_East/MD27Ak01.html

[Betty Karlson]

2. The Euro has benefited only the neo-liberal elite.

All other Europeans and their traditions were sacrificed over and over again to make that wretched currency work. Time to split up the infernal ephemere, and chase the neo-liberal nightmare away.

[Peace Patriot]

3. "...Braces for Collapse...". What nonsense!

I was going to say that Bloomberg headline writers should be ashamed of themselves, but they have no shame, really. They are advocates for the 0.01%.

[quadrature]

5. the new 'Drachma'... 100 to the dollar

or better yet , a million to the dollar.
everybody wins