Besides the unconnected of Greece with its more than incordiante victim
posture and executioner at the same time of the euro, traps are being made to
themselves, I continue thinking that Greece wants that the euro area expels
them of the euro, the thing is not anything banal this would mean saves more
than 300,000 million debt that evidently elk the position of expelled country
would have all the excuses to be declared in suspension of payments. To Greece
today in day it interests him to be left the euro, but he is not able to
because their debt would be taken equally, Greece needs that the euro group not
already expels her for the euro in yes, but because he knows that it cannot
page the payment of its debt with the politics’ payment that took to the power
to Syriza and its group.
Little by little the pressure increases to Greece. But it is that also she
gives unequivocal signs that it is being ruined on purpose before to go by the
demands that he requests him the euro group to save her of the end. Its
reaction of being rescued itself to pay 700 million to the IMF with its own
emergency funds deposited in the IMF, will be all the legal one that they want,
but again it is a jeer and a trap to the community of countries of the euro and
worthy of the country. Already some weeks ago we knew that to make in front of
officials' payments and other social payments the Greek government he had
forced that all the city councils and entities as well as public companies
deposited their box cash in the government.
In fact this already gave the sign that the “corralito” had begun and
today the state of the economic precariousness of the country is such that
today it has ordered that with character of urgency all the funds of all the
Greek embassies are passed over in the world to Athens. Among so much with or
without Varoufakis to the front, it is impossible to reach any agreement between
the euro area and Greece. The capital flights, what is probable don't cease
also, that it is necessary to impose capital controls.
The Greek entities are coming closer to the maximum of 70.000 million
Eurus of allowed emergency funds, although they can also appeal to the ordinary
financing of the BCE using funds emitted by the European Easiness of Financial
Stability. In total, the dependence of the Greek banks of the money of the BCE
was duplicated alone between December and January, and reaching the 85.000
million Eurus. The authorities of the BCE seem according with the fact that the
Greek banks can consent to emergency funds of up to 120.000 million Eurus, I
eat it already happened in 2012.
And the reality bill is also in a stage in that it seems that nobody
wants to make what should be made, the politics it has been strained in the
economy and this complicates everything it is evident that already nobody doubt
that Greece cannot be sustained under the current conditions of debt of costs
of interests with its poor GDP this any economist has it clear but to accept
this reality means that Greece should make an imminent default, to leave the
euro and to negotiate individually with each one of its creditors how and how
much he pays its debts.
But then the politics enters in game and everything not gets complicated
because the UE and the euro group don't see that the end is this, but because
nobody wants to be accused of being its blame the one that this pass. And I
have it very clear the blame of what passes Greece belongs to Greece and its
governments, the same thing that what passes him in Spain is the Spanish
governments' blame from 1975 until today, the blame that can be given to the UE
is to have believed the bills that Greek, Spaniards, Italian and even French
and Germans were the truth of their economies of their plans of restructurings
and economic expansion.
I always wonder how the BCE and the UE that Greece enters in the euro
that Spain bolted building houses, useless infrastructures and the second Rail
high-speed bigger net allowed. (AVE). This is part of the reason that today
makes in concretion the politics of the euro area, because in the bottom they
feel guilty of having allowed that they strained them all the economic dirt
that the poor countries of Europe have strained to the help of the strong euro
and, of the own selfishness of the investors German, French, American etc.
Today to me to understand, alone there is a solution to recompose the
credibility of the euro area and the hope that the UE survives and this raisin
to change attitude and to accept the reality once and for all is European
economies that you/they cannot survive under the pressure of the euro.
One of them is Greece and to try to give him credits lends rescues and
what they want doesn't serve as anything they wore out them one after other and
the Greek economy will continue being deficit because this it is the problem, I
say and I sustain that Greece cannot have like foreign currency the euro,
because it doesn't produce it for if same but rather he has to buy it with some
economic resources that its economy doesn't take place. And not alone that, but
rather these Eurus also spend them in grants to officials and unemployed and
the same raisin in Spain, for that reason and not for another thing SYRIZA has
come out in Greece and PODEMOS in Spain.
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