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:
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.
For the first time a member of the German Government advises Greece to leave the euro zone. It's been highlighted that this should not be misinterpreted as an eviction.
German Minister of Internal Affairs Hans-Peter Friedrich (Christian Social Union), in light of the threat of bankruptcy, has advised Greece to exit the Eurozone.
Outside the monetary union, [...]
The website of the Ministry is down again! The hackers uploaded a new message against the government and the IMF! In addition, the message says clearly that the 3 arrested students had nothing to do with the attack!!
The homepage of the website was completely defaced and the visitors were able to hear music while a big photo Athens' riot dog "Loukanikos" was placed in the center of the page!
Watch the video and read the message below:
Watch the video below with Greek subtitles:
IMF examines the option of contributing "only 13 billion €" to the new austerity help plan to Greece, reports the Wall Street Journal.
"IMF's level of participation has not yet been finalized" but the international financial institution is examining this option according to WSJ's sources.
IMF agreed in May 2010 to provide a loan of 30 million euros to Greece, contributing to a plan of 1100 billion euro.
Not only this was not enought for the greek economy to recover; now it's going through deep recession, which has actually increased public debt, notes the AFP.
According to WSJ, executives of the IMF express fears that IMF has been 'overly' exposed to the debt zone in the EU.
199 MPs said "YES" to the Memorandum. 78 MPs voted "NO"
17 MPs of "PASOK" and 19 from "New Democracy" party voted "NO"
According to the European Statistics authority 27,7% of the Greek population is living in poverty and social exclusion, while the highest poverty rates recorded in Romania and Bulgaria (41%), Latvia (38%), Lithuania (33%), Hungary (30%) and Poland (27.8%)!
More specifically, in Greece, 28.7% of children, 27.7% of the population aged 18 to 6 and 26.7% of people over 65 live into poverty.
These statistics refer to 2010 (in 2009 the same amount was 20%) so imagine how dramatic will be the reports for 2011 with the wage cuts, the unemployment and the new taxes!
I wonder if there will be any statistics at all for 2012...
The proposals came after the Greek Government's request for technical assistance in view of the tax reforms, and the specialists of the IMF found out many interesting ways on blowing up everything that has left from our economy!
More specifically, as reported by protothema.gr the IMF suggests:
- transfer of all goods and services from 6.5% to 13%. The IMF report proposes "abolition of the minimum rate of 6.5% which includes only hotels, medicines, books, magazines and theater tickets. This measure could generate about 360 million euros
- imposition of single VAT rate 19% -21% on all goods and services (other than hotels and tour packages that may be subject to a reduced 9% or 11%). This represents an increase from 13% to 19% or 21% VAT burdening food, medicines, electricity, water and gas bills, public transport tickets, taxi fares, medical visits and examinations, medical care etc.
During the last days, dozens of earthquakes have occurred in the sea area between Santorini and Crete!
Just in the last 34 hours more than 68 earthquakes have occured with the two main earthequakes of 5.3 on the Richter scale that occured on Friday and Saturday morning.
The seismologists have expressed conflicting opinions for the two powerful earthquakes and whether they are linked to the latest seismic activity observed in Santorini.
More than 500 unionists shouted slogans like “Troika Go Home” and “Get Out of Greece” in order to protest against Troika’s interventions in the Greek private sector.
Troika wants the decrease of the minimum wage, the repealing of 13th and 14th salary and changes in the labor rights in order to approve a second rescue package for Greece.
Troika representatives requested the intervention of a prosecutor in order to leave the hotel but the protest ended at 10 a.m. without any intervention from the police.
Watch the video below:
According to information from parapolitika.gr, a request for the prosecution against former Prime Minister George Papandreou and former Finance Minister Giorgos Papaconstantinou was submitted to the prosecutor of the Supreme Court J. Tentes, by the economic prosecutor Gregory Peponis. The prosecution has to do with false economic data that brought our country to the IMF.
Specifically, the Public Prosecutor Gregory Peponis, sent the file for the case of the Greek Statistical Authority (ELSTAT) to the prosecutor of the Supreme Court, in order to be forwarded to Parliament for contingent liabilities of politicians (members of the ex- government).
Former members of the Board of ELSTA have testified that the 2009 deficit was purposely inflated!
Similar information were also revealed by the former vice president of the Authority Nikos Logothetis, who is now prosecuted for violation of personal data, after a complaint report of the President of ELSTAT Andrea Georgiou, for theft of official data form emails.
Former PM Papandreou name has been also involved in revelations of strange economic games by independent MP Panos Kammenos:
The images he saw at the center of Athens reminded him the Argentina of 2001. The writer noted that he sees many similarities on the measures imposed by the International Monetary Fund at Greece with the ones imposed in Argentina.
"I noticed that the political class in Greece behaves in a manner similar to that of Argentina. The middle class in Greece has received a big hit just like in Argentina on 2001"
According to the plans, civil servants must be decreased by 22.4% from 775,994 to 602.472 people during the period 2010-2015!
IMF Poul Thomsen asked Greece to act with aggression in order to close unneeded state organizations and also keep on with non-voluntary dismissals, stating the content of the latest negotiations among the Greek government and the international lenders.
IMF demands that the public employment in Greece will be one of the lowest in the EU by 2015.
"Goldman Sachs, have played a crucial role in the financial crisis around the world. We are still in the process of investigating the role of Goldman Sachs. In Greece, there has been a parliamentary committee set up, and we will have the results hopefully soon."
The EU Summit decisions are presented below as reported by capital.gr:
The new European Agreement will comprise of Eurozone’s 17 member states and six more nations however not all of 27 EU countries, according to the President of European Council Herman Van Rompuy.
Van Rompuy and Christine Lagarde stated that the countries will give supplemental funds of €200 billion to the IMF.
In addition, the President of European Council said that the EU member states will present their draft budgets to the European Commission. He also admitted that the intergovernmental agreement encounters obstacles, but a extensive agreement could not be achieved at this time.