IMF Home // IMF

Ireland: 80,000 march in protest at austerity linked new water charges

Ireland: 80,000 march in protest at austerity linked new water charges

Tens of thousands of people have marched through Dublin, Ireland, in protest at controversial new municipal water charges introduced as part of the country’s austerity deal with Europe. Irish Water started billing residents for water usage in April following an agreement made with creditors under the terms of the bailout plan in 2010.

The water charges were ordered by the European Central Bank, International Monetary Fund and European Union in a bid to boost the revenue raised from taxes in the Republic. Critics say the charges are having a catastrophic impact on the poorest members of society whilst barely impinging on the lives of the richest.

At a press conference for the event, union leader John Douglas said: “Ireland is one of the most unequal countries in the developed world where hundreds of thousands of us struggle to just get by… at the same time, a relatively small few flourish in barely imaginable wealth.”

Read more http://www.ibtimes.co.uk/ireland-80000-march-protest-austerity-linked-new-water-charges-1517706

Greece Crisis, the musical (GREASE PARODY)

Greece Crisis, the musical (GREASE PARODY)

American business magnate, one of the world’s most successful investors, Warren Buffett has reportedly bought the Greek island of Agios Thomas for 15 mln euro, according to the website of the Greek newspaper Proto Thema and became yet another celebrity with his own piece of Greece.

http://sputniknews.com/europe/20150719/1024797417.html

Maybe he likes the music?

Or he’s waiting for the fat lady to sing?

 

 

Creation of Euro-Zone Government

Creation of Euro-Zone Government

Well – hard on the heels of some are more equal than others  Hollande continues to play the cards his ‘partner‘ has instructed.

French President Francois Hollande said that the 19 countries using the euro need their own government complete with a budget and parliament to cooperate better and overcome the Greek crisis.

“Circumstances are leading us to accelerate,”

Countries in favor of more integration should move ahead, forming an “avant-garde,

http://www.bloomberg.com/news/articles/2015-07-19/france-s-hollande-proposes-creation-of-euro-zone-government

Hollande dans le JDD : “Pour un gouvernement de la zone euro avec un budget et un Parlement”

And that is probably much of what is behind the treatment of Greece.

All part of the preparation of the populace……………………….

http://loucollins.uk/wp-content/uploads/2015/07/Screen-Shot-2015-07-17-at-23.45.13.png

Brussels gives Britain a ‘slap in the face’ over Greek rescue deal as crucial parliament debate looms

Brussels gives Britain a ‘slap in the face’ over Greek rescue deal as crucial parliament debate looms

European Commission will use €7bn from an EU bail-out fund for Greece, forcing George Osborne to gain concessions that Britain will not lose any money.

This morning, the European Commission announced it would be mobilising funds from the European Financial Stability Mechanism to provide €7bn in bridging loans for Greece. The move is a significant blow to the British government, which contributes to the fund through its contribution to the EU budget. Here’s our story from earlier:

Quote The European Commission has ignored David Cameron’s objections to using British taxpayer money to keep Greece from going bankrupt over the summer.

Brussels announced today that it would press ahead with plans to use a moribund EU-wide rescue fund – the European Financial Stabilisation Mechanism – to provide a €7bn emergency loan to Greece.

The plans are set to force the Government in to an embarrassing climbdown, riding roughshod over a “black and white” agreement the Prime Minister had brokered with fellow EU leaders promising the money would never be used to rescue a eurozone economy.

Should the EFSM loan go ahead, the Treasury will be exposed to around €690m of risk in order to help Greece avoid bankruptcy until the end of July.

European Commission vice-president Valdis Dombrovskis said the EFSM represented the “the best possible avenue” to provide bridge financing for cash-strapped Greece.

“This is not an easy option, some member states have serious concerns,” admitted Mr Dombrovskis.

Chancellor George Osborne was in Brussels yesterday, and dismissed the idea as a “complete non-starter”.

“The eurozone needs to foot its own bill,” said Mr Osborne.

Live updates   http://www.telegraph.co.uk/finance/economics/11738150/Greece-news-live-Brussels-gives-Britain-a-slap-in-the-face-over-Greek-rescue-deal-as-crucial-parliament-debate-looms.html

Bail-in coming to Greece

Bail-in coming to Greece

Following on from

Why Is The EU Forcing European Nations To Adopt ”Bail-In” Legislation By The End Of The Summer?

Greece’s existing insolvency laws exclude a bail-in of the debt, according to Fitch Ratings.

So – one of the conditions for total capitualtion to German/EU supremacy is?

International creditors led by Germany are demanding that Greece agree by July 22 to adopt the European Union’s Bank Resolution and Recovery Directive, known as the BRRD, which makes it easier to impose losses on senior creditors and depositors.

“The landscape appears to be set for the banks to be restructured and for the potential bail-in of bank debt,” said Michael Doran, a partner at law firm White & Case in London, who advised on the resolution of Cypriot banks in 2013.

http://www.ekathimerini.com/199503/article/ekathimerini/business/greek-senior-bank-bondholders-risk-imposed-losses-after-aid-deal

 

 

Greece Offered “Temporary” Grexit

Greece Offered “Temporary” Grexit

Here’s the actual draft proposal

There’s an alternative version

http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/07/20150712_EUR2.jpg

http://www.zerohedge.com/news/2015-07-12/alternative-interpretation-eurozone-strategy

 

The reality:

Meanwhile, it is crystal clear that Germany has sponsored policies hoping to bring down Tsipras’ government in Athens.He has decided he wants a deal after all, a very poor decision, in my opinion, especially after the resounding “no” he campaigned for.

One of the demands Germany has placed for a deal is Greece put up €50 billion collateral for further loans, no doubt islands and state-owned enterprises at bargain-basement prices. Greek citizens are upset, and riot police have been called out, but so far the situation is calm. It won’t be if Greece agrees to this deal.

Imo these two scenarios are still possible:

http://loucollins.uk/2015/06/28/greek-referendum-to-be-held-on-july-5/

 

Austrians Sign Petition to Leave European Union

Austrians Sign Petition to Leave European Union

Over 260,000 Austrians have signed a petition calling for the EU exit for the country, and now the Austrian parliament must discuss a referendum on the issue.

Unlike Greece, Austria is an extremely wealthy nation, with one of the highest standards of living in the world. Which kind of makes you wonder right? Everyone has been talking about the consequences of what would happen if a financial basket case like Greece leaves the EU, but what happens if one of the more stable and functional nations leave? What if the people who are carrying the weight of the insolvent, decide that they’ve had enough?

http://www.thedailysheeple.com/austrians-sign-petition-to-leave-european-union_072015

BRICS and EU bats

BRICS and EU bats

This has been niggling at the back of my head for a while

 

So when I read this article – it raised some questions

We’ve already reported here on:

And Russia has already invited Greece to join BRICS –

and BRICS is –a brave new world  where leading developing countries finally challenge the iniquitous international system.

so reading:

Tsipras also met with representatives of the new development bank for BRICS countries, who expressed their intense interest in cooperating with Greece.

the BRICS delegation included its chief, Kundapur Vaman Kamath, IMF’s Executive Director and new Vice President of the BRICS bank Paulo Nogueira Batista

one of the IMF’s Executive Directors is also a Vice President of the BRICS Bank

http://redefininggod.com/wp-content/uploads/2015/07/batistacv.png

A Jesuit

So who will be running the “fresh, new” BRICS Bank? Guys who hang out at Davos, who help run the “tainted, old” IMF and World Bank, and who are trained by the London Establishment and the Vatican Jesuits.

mmmmm?

and we’ve had the IMF suddenly developing a conscience over Greece?

As the Eurozone Teeters, the IMF Does Something Weird

Strange as it may sound, rumors of the IMF’s do-gooding began spreading on Friday after the Fund published a damning report on the sustainability of Greece’s finances and the Troika’s woeful mismanagement of the country’s debt crisis.

the report’s real victims were the IMF’s two Troika partners, the European Central Bank (ECB) and the European Commission, both of whom had fought to prevent its publication.

the United States, the strongest voice in the IMF, was in favor of publication,

The $300-billion question is why?

New BRICS bank to change world’s financial system

So when the EU topples like dominoes – as a result of Grexit contagion………. will BRICS become the new messiah?
I really don’t know.
It just feels as if we’re all being played
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2015/06/Putin%20Popcorn_0.jpg
Sunday’s Vote Will Determine Liberty Or Serfdom

Sunday’s Vote Will Determine Liberty Or Serfdom

For any readers who have questioned WHY we keep covering the Greek news – Paul Craig Roberts  summarises the importance to all our lives

https://s3-eu5.ixquick.com/cgi-bin/serveimage?url=http%3A%2F%2Fts4.mm.bing.net%2Fth%3Fid%3DJN.pLlWCy2NqZIlfiM7h939Ow%26pid%3D15.1%26f%3D1&sp=11c89ca7ede80273b9016363ab4d410b

What we are witnessing today,  is that after 2,500 years in the Western World only the current Greek government is interested in democracy. The Greek government, to the surprise and consternation of every other European government, has called a referendum for the Greek people to decide the fate of Greece. For resorting to democracy, the Greek government has been universally denounced in the Western World.

So much for Western democracy.

If the Greeks vote for their oppressors and against their own government, democracy in the EU will cease to exist.

2,500 years ago Greeks saved their independence from the Persian Empire. Sunday’s vote will tell us whether Greeks have again served liberty or whether they have succumbed to Washington’s Empire.

The fate of all Europeans and of Americans themselves will be settled on Sunday.

Disgraced former IMF chief and ‘sex addict’ Dominique Strauss-Kahn emerges as favourite to become the next French PRESIDENT

Disgraced former IMF chief and ‘sex addict’ Dominique Strauss-Kahn emerges as favourite to become the next French PRESIDENT

Disgraced former IMF chief and self-confessed ‘sex addict’ Dominique Strauss-Kahn has emerged as a favorite among voters to become the next president of France.

The shamed economist has admitted to taking part in sordid global group sex sessions, and paid four million pounds to a New York hotel maid who accused him of rape.

But a new survey has revealed he is still the second most popular left-wing potential president for the 2017 election – far ahead of current leader Francois Hollande.

Pollsters Viavoice said 37 percent of those questioned thought Strauss-Kahn would be a good choice for the presidency, beaten only by the current prime minister Manuel Valls on 47 percent.