Voices from Russia

Sunday, 15 February 2015

“Grexit” Could Cause EU Collapse

Barbara-Marie Drezhlo. Euroised Greece. 2012

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American economist Barry Eichengreen warned that the consequences of a Greek exit from the Eurozone could be devastating, and that the governments of the monetary union are taking the possible repercussions too lightly. In an interview with Die Welt am Sonntag, Eichengreen, UC Berkeley Professor of Economics, said that the consequences “would spread to other countries. When a Portuguese family or Spanish businessperson sees that Euros have been converted into drachmas, they’ll take their money out of their accounts. That could lead to a run on the banks”. Eichengreen continued that this scenario would snowball, “investors would speculate on the next candidate to leave the Eurozone”, thus endangering the entire Euro project. He also thinks that financial markets are also guilty of miscalculation, with share prices giving an overly positive picture. “My experience as an economic historian has taught me that markets always look relaxed, until suddenly… they aren’t. From the banking crisis of 2008 to the emerging markets crises of the 1990s, anybody can take their favourite financial crisis and discover that markets are really not a good crisis indicator. In the run-up to the crash, the players were always too relaxed for too long, and then later fell into a complete panic”. Eichengreen believed that the new Greek government should be given more time, “They should be given some breathing space, which is also in the interests of their creditors. I’d be in favour of tying interest payments on the borrowing to economic growth. Only when the Greek economy grows, should the country pay interest, otherwise the payments will simply be deferred. The Euro is of great symbolic and geostrategic worth for Europe”. He added that such an eventuality on the economic front would also have consequences for the West in terms of the European geostrategic situation. He observed, “The West hardly wants Russia to be able to position itself as a saviour, and become involved”, adding that this would have “dramatic consequences” for NATO.

15 February 2015

Sputnik International

http://sputniknews.com/europe/20150215/1018299307.html

Sunday, 31 March 2013

Archbishop Chrysostomos of Cyprus Sez: “We Should Withdraw from the Union”

01a Chrysostomos Kirill 01.11

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Archbishop Chrysostomos Demetriou of Nova Justiniana and all Cyprus said that his country should withdraw from the EU, as the EU would cease to exist in the future, as its coming apart. Vladyki Chrysostomos said in an interview with Pervy Kanal (Первый канал: Channel One), “Currently, the economies of Spain, Portugal, and Italy are in danger. If the Italian economy goes down, just like our economy, the EU won’t withstand it. The people who rule the EU, particularly, those making decisions in the so-called troika, don’t understand many things; that’ll lead to the collapse of the EU. This is why I believe we [Cyprus] should withdraw from the union before the collapse takes place”.

On Monday, the finance ministers of the 17-nation Eurozone agreed to a 10-billion Euro (399 billion Roubles. 12.9 billion USD. 8.5 billion UK Pounds) deal for Cyprus to rescue the island nation and its oversized banking sector from financial collapse. The new deal forces the holders of accounts of over 100,000 Euros (3.99 million Roubles. 128,400 USD. 84,300 UK Pounds) to take losses that could amount to 30 to 40 percent of their deposits. The ministers expect the new deal to yield some 4.2 billion Euros (137.5 billion Roubles. 5.4 billion USD. 3.5 billion UK Pounds) to allow Cyprus, which is currently teetering on the brink of default, to obtain 10 billion Euros in financial aid from the troika of international lenders. The so-called troika of creditors are the International Monetary Fund, the European Commission, and the ECB.

31 March 2013

RIA-Novosti

http://en.rian.ru/world/20130331/180359765/Archbishop-of-Cyprus-Says-His-Country-Should-Quit-EU.html

 

Sunday, 9 December 2012

Greece to Probe the Rich

money

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Greece’s Financial Crime Unit will check the income sources of 1,700 Greeks who suddenly became super-rich in the crisis years of 2010-11. Among them are ex-ministers, MPs, political party leaders, football players, doctors, and lawyers. Greek tax authorities have a special Elenxis system, which allows them to compare income, and taxes paid as well as reveal shadow accounts. The Crime Units will also check the assets of 54,000 Greeks who have transferred some 22 billion Euros (878.4 billion Roubles. 28.5 billion USD. 17.8 billion UK Pounds) to foreign banks since 2009.

3 December 2012

Voice of Russia World Service

http://english.ruvr.ru/2012_12_03/Greece-to-probe-the-rich/

Editor’s Note:

Orthodox people… let’s keep this short… Paffhausen, Potapov, Dreher, Mattingly, Reardon, Whiteford, et al just go into orgasm over the Republican defence of the Affluent Effluent. Reflect on that… it’s in direct opposition to Our Lord Christ. The Greeks are starting to chase down the affluent rapists of the economy of their country… we should do likewise, starting with Willard Romney and Darrell Issa… I wonder what the above-named individuals would think of that?

Any road, 22 billion Euros is only 2,000 Euros per Greek (80,000 Roubles. 2,600 USD. 1,600 UK Pounds), and it works out to only 40,750 Euros (1.63 million Roubles. 52,700 USD. 32,850 UK Pounds) per capita for the cohort under investigation… I think that the really big boys are swimming away scot-free, and that the Affluent Effluent controllers of the rightwing New Democracy government are trying to assuage popular anger by allowing it to pursue second-tier tax cheats. However, if SYRIZA wins the next election (and it shall), watch for the flights to London to be packed to the gills… they’ve all bought flats in Belgravia next to Berezovsky and Abramovich just for that eventuality, y’ know (they’re greedy and corrupt, but they’re not stupid)…

BMD

Saturday, 8 December 2012

Ieronymos Criticises Berlin’s Handling of Eurozone Crisis

00 Bravo Greek Crisis. 07.12. Political cartoon

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On Friday, in Athens, Archbishop Ieronymos Liapis, the First Hierarch of the Church of Greece, criticised Berlin’s handling of the Eurozone debt crisis, adding that Greece won’t “sell off” its dignity, saying, “What kind of Europe do we want? A German Europe or a European Germany?” Greece’s most senior cleric spoke during a meeting with Hans-Joachim Fuchtel, a German state secretary at the Federal Ministry of Labour and Social Affairs, as well as with members of the Diakonie Federation of Voluntary Welfare. Ieronymos said, “We welcome our partners’ help, but under one condition… we must maintain our dignity. We have our own history and culture; we can’t sell it out”.

7 December 2012

Kathimerini

http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_07/12/2012_473498

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