Graecokleptocrats and Eurokleptocrats lock horns over the size of Greece’s budget gap next year. Joerg Asmussen says Greece faces a significant fiscal gap next year, an assertion that Graecokleptocrats deny.
The European Union and International Monetary Fund estimate next year's fiscal gap at two billion euros, but Graecokleptocrats estimate it at half billion euros.
The lenders project a higher pension fund deficit and believe that revenues from tax collection will be lower than expected due to widespread tax evasion.
The lenders have previously said Greece's fiscal outlook for 2013-14 is subject to high uncertainty, noting that tax collection is concentrated in the second half of the year.
Graecokleptocrats hope of reaching agreement with its lenders on the issue of the 2014 fiscal gap when EU/IMF inspectors resume an inspection visit at the end of the month.
BOOMERANG HITS GREEK BONDS
INVESTORS WILL NEVER BUY GREEK BONDS AGAIN
INTERNATIONAL BOYCOTT OF GREEK BONDS
Greece will not be able to return to bond markets next year to plug a financing gap that will start to open up, because all fund managers are very upset of what happened to me. IMF is concerned that if the funding gap is not dealt with swiftly, it will further erode investor confidence in Greece. Venizelos, leader of Pasok mafia, asked Joerg Asmussen if it was possible to reorganize figures so Greece’s fiscal gap for 2015 and 2016 appears smaller than it actually it is! For Asmussen, these words characterize the old Greece and outdated, inefficient systems for which he fundamentally has no understanding.
The kleptocratic alliance of Pasok and Nea Democratia mafias always tries to hoodwink gullible Troika – Eurozone, IMF, ECB. Graecokleptocrats have learnt from experience how to siphon money from eurozone. First, they create an enormous public debt buying votes, channeling money to secret offshore accounts of kith and kin, creating myriad sinecures for cronies and party members, churning public funds, looting the treasury, and financing many scandals. Second, they cry wolf and ask for bailouts. Third, they demand haircuts on debt. Fourth, they demand new haircuts, and so it goes until a new cycle starts over again!
Lagarde is bewildered by the stupidity of Graecokleptocrats! Some executives at Greek state enterprises have annual salaries of 300,000 euros! Moreover, Greeks wonder why the offshore accounts of rich ministers have not been traced and why the names of hundred Graecokleptocrats who took many billions of euros in bribes have not been published.
Lagarde does not trust Graecokleptocrats, because they never apply what they vote in the Grand Brothel of Kleptocracy on Syntagma Square! All Europeans condemn Graecokleptocrats for creating hundred state agencies and hiring many thousands of public employees, even though they promised Troika to close down all agencies and fire many public employees. Lagarde cannot stand Venizelos, founder of kleptocratic impunity!
OSI, Official Sector Involvement in debt haircuts, is now the secret objective of Samaras and Venizelos, Laurel and Hardy of Greek politics. PSI, private sector involvement, was psychotic. Now, OSI is ossification of Graecokleptocracy, rewarding and perpetuating political corruption. Osification brings ossification! There is no way Merkel would accept OSI. Ohi is the Greek word for No. Merkel said to Samaras: Ohi for OSI!
Troika is mad as hell, and it cannot take it from piggish Graecokleptocrats anymore. Troika walks grim-faced into its meetings with piggish Graecokleptocrats wearing funeral clothes! Troika is a doctor, who is looking over the tests of Graecokleptocrats, shaking its head, and Graecokleptocrats wondering if they are going to live or die.
Troika rushes in and out of ministers' offices with heads down, clutching files and avoiding reporters. Troika reviews a track record of two years of broken promises to international lenders, who have pledged a quarter of a trillion euros to pull Greece back from the brink of bankruptcy.
The coalition government of Samaras and Venizelos, Laurel and Hardy of Greek politics, is racing against the clock to come up with cuts and reforms. Laurel and Hardy have fallen quite badly behind, and they are trying very hard to put the train back on track. Troika's main task is to see how Laurel and Hardy could get restarted.
Troika is angry and fed up. Greece would not get any more money unless it showed some progress. Among a long list of failures, Laurel and Hardy have not completed any substantial privatizations and is behind on tax reform, restructuring the public sector, and properly opening up markets and professions.
Troika says huge political corruption and half-hearted reforms are to blame for holding the economy back. The lenders are demanding abolition of Graecokleptocracy and Trojan Horses. Troika has made it clear to Laurel and Hardy that they should prove their credibility first.
Dumping euros on Greece is ridiculous. It’s unfair to squander hard-earned German euros, and it’s unfair for Greeks to be addicted to German handouts. Nobody wins in dumping, which increases sinecures, laziness, profligacy, diseconomy, political corruption, and bad attitude.
It is high time to bring an end to the Greek tragicomedy. Graecokleptocrats continue to negotiate as if things are business as usual, they let one final ultimatum after the other pass, and they persistently fail to realize that their discussions have started to verge on the absurd. It would be a lot better to end this farce. The Greek economy is shrinking faster than assumed. Rescuers on both sides of the negotiating table should try being honest for a change. If Graecokleptocrats are to lastingly reduce the mountain of debt, Greece needs to revamp now.
The drastic austerity programs will not only remain ineffective, but will also stigmatize Greece as Europe's problem child for a long time to come. Solidarity is not a one-way street. The European Community must remain tough and demand the necessary structural reforms, especially drastically reducing the huge political corruption, abolishing the impunity of Graecokleptocrats, and stopping the persecution of dissident bloggers.
Eurokleptocrats are losing touch with reality. Greece is broke, and yet Brussels sends Graecokleptocrats billions in new loans. This is understandable, given that abandoning portions of their claims against Greece would translate into substantial losses. But cutting losses short is the golden rule of markets.
Michael Spencer, CEO of ICAP, says: Personally, I think it would be in Greece’s own interest to leave the euro. It’s my personal opinion, and I appreciate there are those who disagree with that, but I think they face a long, long recession if they remain within the euro, whereas if they leave the euro there would admittedly be a very painful adjustment, but it would be short and it would be sharp.
The Greek bailout is the heroin of Graecokleptocrats. It feels good in the short term for Graecokleptocrats, but it doesn’t help repair the Greek economy, causing more damage, because it gets in the way of a proper recovery. Graecokleptocrats hoodwink that acquisition of their heroin is a heroic act, but heroin is not heroine!
Graecokleptocrats consider Fourth Reich a processor of ESM poppies. But EU’s poppy tears bring Greek tears! ESM is not the opium of the masses. ECB is not a morphine exchange, and Fuehrer Merkollande is not a heroin trader. Dehydrated Greek economy must drink water, not opium latex.
The Greek debt differs from that of other nations, because it’s not due to spending, but robbing! Graecokleptocrats got huge kickbacks from overpriced purchases of public equipment and contracts and by churning the state insurance funds. If this is not robbing, what is it? When politicians of other nations were trying to do things for their citizens, Graecokleptocrats were trying to fatten their secret offshore accounts, protected by parliamentary immunity. Graecokleptocrats rob Peter not to give Paul, but to themselves!
That’s why the Greek workers are on strike. They resent paying the huge Greek debt created by Graecokleptocrats. It’s not fair to tax and reduce the salaries and benefits of workers to make up for the money stolen by Graecokleptocrats. The fairest action would be for Graecokleptocrats to return the stolen money back to the Greek treasury. Many Graecokleptocrats live like princes of Saudi Arabia! Enough is enough, bring the money back!
Graecokleptocrats’ program is already hopelessly behind schedule, in terms of both the sale of government property and the agreed reforms. Graecokleptocrats do many stupid things, such as persecuting dissident bloggers! It's like dealing with children that constantly have to be told to clean up their rooms. Troika is very angry. Everyone is irritated over the lack of progress and unbelievable stupidity of Graecokleptocrats.
SHAME ON GREECE!
THE KLEPTOCRATIC ALLIANCE OF PASOK MAFIA AND NEA DEMOCRATIA MAFIA SHOULD NOT PRESIDE EU
THE FREAKISH GOVERNMENT OF GREECE STOLE MY COMPUTER, MY FILES, AND MY LIFE IN COLD BLOOD
Michael Fuchs says: Even if the glass is half full, that won't be sufficient for a new aid package. Germany cannot and will not agree to that. We long ago reached the point where the Greeks must show they are capable of delivering a shift. A policy of the last, last, last chance won't work anymore and must come to an end.
Fuchs points out Germany had reached its limit with Greece and would not hesitate to veto more aid if lawmakers were convinced it was not fulfilling the conditions of its bailout. Were that to happen, grexit would be inevitable. Greece could remain a member of the European Union after exit and receive a form of Marshall Plan to help it as it returns to its own currency.
There is only one solution to the dilemma faced by Graecokleptocrats over their inability to borrow more money. Shut down the government! Debt ceiling or no debt ceiling, deficit or no deficit, all of stupid ministries, agencies, boards, commissions, authorities, bureaus, divisions, services, administrations, and programs should be shut down. This is not complicated!
The best thing that could ever happen to Greeks would be if the majority of the functions of the bankrupt Greek government were shut down permanently. Jefferson said the two enemies of the people are criminals and government, so let us tie the second down with the chains of the Constitution so the second will not become the legalized version of the first.
But the bankrupt Greek government has already become a legal criminal institution and the #1 enemy of the Greek people! Unfortunately, Jefferson’s advice has come too late to the Cradle of Kleptocracy. That’s why Greece now needs a real revolution to overthrow the corrupt status quo. If the army is not willing to do it, Greeks themselves might start acquiring guns for the great moment of liberty, climaxed by the public hanging of all Graecokleptocrats in front of the Grand Brothel of Democracy on Syntagma Square. Any Greek tragedy ends up with a catharsis!
Internet can replace schools. State insurance is an entitlement program, an income transfer scheme, a wealth redistribution plan, and a Ponzi scheme. State insurance taxes should be abolished and the program should be shut down. All taxes should be abolished and the tax service should be shut down.
Germany is not prepared to extend further loans to Greece beyond what has already been agreed. Moreover, IMF won't take part in any additional financing for Greece. It is inconceivable Merkel would again ask Bundestag for approval of a new Greek bailout package. Merkel is unwilling to risk a rebellion in another rescue for Greece.
Roesler is more than skeptical that Greece's reform efforts will succeed. If Greece no longer meets its requirements, there can be no further payments. For Roesler, a Greek exit has long since lost its scare. Schaeuble asserts Greece must catch up.
Laurel and Hardy must reduce the budget deficit. Laurel and Hardy are under intense public pressure to ease the burden on Greeks. Laurel declares Greece is in a Great Depression similar to the one in the US in the 1930s. Laurel and Hardy concede they have slipped in implementing the cuts and reforms required by the creditors.
Alexander Dobrindt says: With Greece we have reached the end of the road. There must not be any further aid. A country which does not have the will to fulfill the conditions, or is not able to do so, must get a chance outside the euro. Greece should start to pay half of its civil service wages, pensions and other expenditures in drachmas now. A soft return to the old currency is better for Greece than a drastic move. Having the drachma as a parallel currency would allow the chance for economic growth to develop.
In addition to more time, Greece needs more money. But eurozone and IMF are unwilling to squander more euros. If Merkel were to present a new aid package for Greece to Bundestag, MPs would chase her out of the building! Merkel insisted that the problems of PIGS could only be solved by drastic belt-tightening, and that what the Greeks were really lacking was the will to do what was necessary. Merkel cannot imagine the huge political corruption of Greece.
If it was ever the goal of Merkel and her allies to rescue Greece from bankruptcy, then they have failed. The only thing the drastic austerity measures have done is to exacerbate the economic crisis and push Greece's debts even higher in a never ending spiral of austerity, depression, and debt. Greece must officially declare bankruptcy. A Greek bankruptcy would cost Germany alone two hundred billion euros, but Greece would be free of its debts and would have a chance to make a fresh start.
The Greek presidency of EU must be annulled, because the kleptocratic alliance of Pasok mafia and Nea Democratia mafia cannot be trusted. The freakish government of Greece stole my computer, my files, and my life in cold blood! Basil Venitis, venitis@gmail.com, http://themostsearched.blogspot.com
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