Greek journalist Kostas Vaxevanis was arrested for revealing the list of Greeks with large deposits in Swiss banks! The list was originally sent to the Greek government by the current head of the International Monetary Fund, Christine Lagarde.
Mr. Vaxevanis (the editor of the magazine Hot Doc which revealed the list) announced on his twitter account this morning that he was arrested, and that he will appear on court on Monday morning in order to set the date of his trial, on charges of violating laws relating to the privacy of personal data.
German Chancellor Angela Merkel has told Greece that the "tough path" of painful spending cuts will pay off, amid demonstrations by thousands of protesters in Athens in a show of anger against her visit.
Greek police issued a statement that any public gatherings and marches would be banned that time in a large area around the city center. (Follow the link to see the map below)
Greece fulfills its commitments for cuts on flexible spendings
TROIKA isn't going to renegotiate Memorandum before its implementation!
Do YOU play packman?
Together with Pasok party and the Democratic Left, a small party that won only 16 percent of the vote, Mr. Samaras forms a New Government.
Mr. Samaras had supported the bailout. After the May elections, in which New Democracy and Pasok suffered a drubbing while Syriza made big gains, Mr. Samaras has said he will seek to soften the deal’s terms; but soon, Mr. Samaras will be forced to make massive spending cuts to carry out the country’s “obligations” according to the Memorandum…
Syriza party stated it will fight if the new government does not repudiate the most onerous terms of Greece’s loan deals.
Meanwhile, the departmental finance minister George Zanias will represent Greece at the meeting of Eurogroup on Thursday, and Ecofin on Friday. Mr. Zanias will ask the Finance Ministers of the Euro zone for a time extension of two years to reduce the deficit (until 2016).
Prime Minister Antonis Samaras
Ministry of Interior
Minister: Euripides Stylianidis
Undersecretary: Charalambos Athanassiou (former president of the Judges Association)
Only one day after the scandalous article of Financial Times Germany which calls Greeks to vote in favor of pro-bailout conservative "New Democracy" party another article from the German "Bild" tries to terrify and influence the Greek people in order to vote for a government which will continue with the austerity program.
Yesterday, the Financial Times of Germany published and article with the tittle “Resist to the Demagogue” where the newspaper stated clearly:
Resist to demagogy of Alexis Tsipras and SYRIZA. Do not trust their promises that the denouncement of the loan agreements is possible without consequences..
Your country finally needs a functioning state. For your smooth governance we recommend Nea Dimocratia, even thought the recommendation is half-hearted…The best option for your country would be a coalition government with Antonis Samaras as leader and not Alexis Tsipras…..”
Today, "Bild" moved the propaganda one step forward with an article that had the tittle "Dear Greeks, don't make the mistake now...":
Martin Stuart Feldstein (George F. Baker Professor of Economics at Harvard and also president emeritus of the National Bureau of Economic Research (NBER) ) talked about the prospects of a Greek euro exit in an interview at Bloomberg.
He expressed the opinion that there is no specific formula that the countries can follow in order to solve their economic problems. Each country is different... and in the case of Greece and there is no solution but to exit the euro zone since the country's economy is in terrible situation that can not be fixed...
“Well, I think it would create chaos, it would create problems” says Mr. Feldstein and he adds,
“It would be better for Greece to be able to adopt a new currency, a drachma, allow the currency to fall as currencies did in East Asia and in Latin America; that would give a significant boost to growth in Greece as Greeks shift their spending to domestically produce goods and services.”
Watch the video below:
Mr. Browne presses Klaus Masuch, head of the ECB's countries division, over the premises behind the ECB's approach to Ireland's fiscal issues.
Browne hits Masuch hard on the question of why the Irish people should be forced to protect unguaranteed bondholders...
Of course he never received a straight answer...
Watch the video below:
Spain is doing everything right, but it’s being contaminated by Greece, according to Wolfgang Schaeuble
Spain has openly acknowledged problems with the refinancing of the financial markets and fueled speculation about further escalation of the crisis. “The markets are in fact no longer accessible in the current interest rates for Spain”, Cristobal Montoro, Minister of Finance said at the radio station Onda Cero. That admission put pressure on the € and caused further losses in equity markets.
The Greek Society and its institutions are going through very difficult times, emanating from several years of severe economic crisis. The gross national product of Greece decreased by almost 7% last year alone, and the unemployment rate exceeded 20%….
The managing director of the IMF believes that the Greek parents have to take responsibility if their children are being affected by the austerity program.
"Parents have to pay their tax," she says.
In his article in "Financial Times Deutschland", the famous economist Nouriel Roubini, who had predicted the global recession of 2008 in 2006, says that either this year or the next, Greece will be forced to go bankrupt and leave the eurozone. This will happen even if a government will finally be formed after the elections of June.
Mr. Roubini says that Greece has fallen into a vicious cycle of bankruptcy, lack of competitiveness and continuous recession.
Germany's chancellor has decided that Greece should hold a referendum on the euro together with next month's national elections! The news came from office of the Greek prime minister Panagiotis Pikrammenos who informed the leaders of the seven parliament parties on the content of the conversation between Merkel and Greek president Karolos Papoulias.
PM Pikrammenos contacted political leaders A. Samaras, Al. Tsipras, Ev Venizelos, Al. Papariga, N. Michaloliakos and F. Kouvelis and filled them in on the contents of the conversation held between the President and Chancellor Angela Merkel.
According to the statement of the prime minister's office, Mrs Merkel expressed her thoughts to the President about a referendum alongside with the Greek elections. The referendum would have to do with whether Greek citizens wish to stay in the eurozone...
When George Papandreou, the former Greek premier who negotiated the original bailout (2010) he asked Angela Merkel for gentler conditions in the memorandum. Angela Merkel replied that the aid program must be very hard (!): "We want to make sure nobody else will want this..." she said.
After Greece's May 6 elections results, more elections are likely in June, with no guarantee that a stable government will emerge. Greece's growing turmoil is the culmination of a radical austerity experiment and a botched economic overhaul that pushed the Greek nation into a social and political breakdown. It is obvious that forcing deep austerity on Greek people won't save the euro...
Mr. Tsipras states that the vote of Greek people politically illegalized the Memorandum due to which Greece was led to being “the only European country in peacetime which in 2012 is now in its fifth consecutive year of deep recession”.
Read the full letter below:
European officials are developing an investment pack to encourage financial growth in EU countries, due to the fact that voters in Greece and France have punished the political leaders who have supported hard austerity measures!
Olli Rehn, the European Commissioner for Economic and Financial Affairs, asked for extra government investing on large-scale infrastructure developments, since there are not sufficient private-sector demands which could create new job positions.
Mr. Rehn stated clearly that he is willing to loosen the EU’s tough new budget rules for countries that have been forced to dramatically reduce public spending in order to meet Brussels-mandated deficit levels.