Greek Offer Puts Spotlight On Bankers
The dynamics of Friday's Greek situation are as follows.
Tsipras says he has a mandate for a deal not a Grexit. True.
Syriza is proposing near the SAME deal as it offered in June - one with wealth taxes the EU elites hate, but with even more austerity of the kind which Greeks just voted against.
Sounds illogical? The flip-side that mainstream media are leaving out of the picture (so as to paint Tsipras as a fool?) goes to the core of Syriza's ethos and position.
The flip-side is: DEBT WRITE DOWN, by any name you prefer.
The Banksters- more than the EU are --and have been- key holdouts. This Syriza offer is designed to flush them out. No Debt Write Down, No Bailout Deal.
Call the write down a reprofiling or a restructuring or call it an extension. Route it through any alphabet soup of acronymic institutions: ESM, EFSF, EFSM, IMF, KISS, MY, ASS.
But - No Debt Write Down, NO Bailout Deal. #OXI
Of course, in the event the Banksters force a Grexit, then the reform measures now already in train would strengthen the hand of Tsipras and his financial team in seeking international investment. Like this:
"We've begun reforms, ditched our unsustainable debt burden and our currency is cheap."
"Think on that, and COME ON IN!!"
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