The Greek proposal of surrender to Germany

Posted: July 10, 2015 in Uncategorized

I read the first news about the new Greek proposal.

It is actually really similar to the EU proposal refused by the Greeks in the referendum and no “debt haircut”.

How the Germans will take it?

That is hard. As if they want to be strict the pension cuts proposal is too “fluffy and vague”, so Germans will have to hope that all the reforms promised will be enacted. Also Angela Merkel said that the previous proposal is “off the card”.

A positive solution could be achieved with the pressure for the Americans and the absence of any debt haircut request.

As of now I can say it is a 55% GrExit and 45% GreEuro.

But the biggest concern is how Syriza will make pass this proposal through the Parliament (tomorrow), when it is practically what as been refused by the referendum.

In the end these proposals will not be implemented anyway – so my basic idea is when Greece will exit the Eurozone and not if.

Greece never had the characteristic to get in, in the first place. It is history (not a conspiracy theory) that Goldman Sachs helped Greece in “cooking the books” with a complex debt derivative strategy*.

In 2000 the Maastricht Treaty stipulated that No Euro Member should have more than 60% of GDP and Budget Defict more than 3%. Greece real position (without Goldman Sachs tricks, an historical implied foreign exchange swap (meaning that the Euro value was much lower than reality  saving more than USD 1 Billion) were revealed to be  103.7% if GDP and a Budget Deficit of 12% in 2001


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s