Germany and France want to force more tightly controls on Greece's financial resources on top of that they Merkel and Sarkozy warned political leaders in Greece to immediately concur with new austerity measures in order not to witness their country go bankrupt!!
In addition, only a few days after the German suggestions to set up a finance commissioner in Greece, Sarkozy and Merkel demanded Athens to set up a separate account from which bondholders will be paid directly and will ensure that billions of euros in bailout money go directly to servicing debt, and not other government spending priorities!
"I support the idea that the necessary interest payment for the debt service is put on an extra account to make sure that Greece will steadliy make this money available," Merkel said.
The American newspaper points out a series of errors concerning the Greek crisis:
Last April, that Germany did not show the proper grip and preferred to hide the problem under the carpet... These tactics have led us to the recent decisions on the haircut and private participation.
Moreover, the newspaper criticizes the fact that Merkel and Sarkozy were on "holidays" during last summer allowing markets to act uncontrolled triggering the Greek crisis and dragging most of the European countries in a dyne of panic.
Angela Merkel and Nicola Sarkozy believe that the poor countries might refuse to comply with their recommendations for tighter fiscal discipline which will be discussed in the Summit of 9 and 10 December. In addition, they are afraid of a "veto" from countries calling for a greater intervention by the European Central Bank, in order to help the economy.
For that reason the two leaders are planning to start the negotiations with the countries that are capable to follow their economic program in order to form a new smaller Eurozone only the economically powerful countries.
New Europe: “Merkel and Sarkozy want Samaras to sign to secure Leopard and Rafale sales, agreed with Papandreou”
According to "New Europe online" Angela Merkel and French President Sarkozy agreed with George Papandreou to grant Greece with the €110 billion mega-loan but with his commitment to purchase military supplies from Germany and France that worth €10.5 billion euro!!! The agreement says that the purchases will be in equal parts between Germany and France. The hardware will include frigate war ships, Leopard tanks from Germany and Rafale combat aircrafts from France.
In addition, "New Europe" connects the secret Papandreou-Merkel -Sarkozy agreement, with immediate retirement of all heads of the Greek armed forces from the former defence minister Panos Beglitis just 3 days before the Papandreou government collapsed!!
A few weeks ago, President Sarkozy was saying : "It's not possible to let Greece fall, for moral and economic reasons" - "Greece Future Is in the Euro Region" -“If we created the euro, we cannot let a country fall that is in the euro zone. Otherwise, there was no point in creating the euro,”
Suddenly, at the end of October the French President admits that "It was a mistake to let Greece join the euro single currency". One month later, Mr. Sarkozy, Angela Merkel and the IMF are blackmailing Greek people with a catastrophic dilemma: "Whether or not they want Greece in the Eurozone"
The worst part of the story is that the referendum was announced by the Prime Minister of Greece. Mr. Papandreou gave the opportunity to the European Leaders and the IMF for a direct blackmail towards the people of his own country.
Greek people will now have to vote... They will have to vote YES and surrender their country and lives to their "helpers - lenders" OR vote NO and suffer the consequences of bankruptcy!
Democracy at Its BEST...
As suggested by French president Nicolas Sarkozy, Greek PM Papandreou has been invited in the meeting of the G20 tomorrow at Cannes, in order to give explanations about the upcoming referendum in Greece.
Today, President Sarkozy and Angela Merkel will have a meeting in Cannes with EU leaders and the IMF and afterwards with Greek PM Papandreou and finance minister Venizelos, to talk about the issues that could occur due to the upcoming referendum.
Negotiations on the level of the Greek dept "haircut" are continued. It is quite possible, that French president Nicolas Sarkozy and German Chancellor Angela Merkel will negotiate, during the night,directly with the banks in order to convince them to accept a loss of around 50%.
The aim, as Angela Merkel stated, is to reduce the fiscal deficit of Greece from 160% of GDP to 120% in 2020.
Moreover, according to this scenario, private banks will renew the 110 billion euros in Greek bonds the hold with terms more favorable to Greece. This action will allow a "haircut" around 50%.