Greece caves - requests another bailout - so much for that 'vote'

[Baclava]

“Greece officially submitted a request for a three-year loan facility from the European Stability Mechanism also promising to implement tax reform, and pension measures”

Athens submits request for third bailout

The finance minister, Euclid Tsakalotos, marked his third day in office by requesting a three-year aid plan from Europe’s permanent bailout fund, the ESM.

He pledged that Athens would immediately begin implementing tax and pension reforms, starting next week, if Europe would provide funding needed to avert bankruptcy.

http://www.theguardian.com/business/2015/jul/08/greek-crisis-alexis-tsipras-confident-meeting-bailout-deadline

[Fred Sanders]

1. Caves to what, a compromise solution, as requested by the voters of Greece? Twice, now.

[snooper2]

2. not the actual headline, of course- Greek crisis: Athens submits request for third bailout

The new finance minister must be an EU plant-

If he had listened to very wise DU'ers here he would have told Germany and the EU to FUCK OFF!

Start printing their own money again- Say screw you we owe you NOTHING Cartman style-
Give everyone in the country three weeks off paid so they can relax from all the drama and stress-
And everything would be just DANDY




LOL

[Baclava]

4. Caves to more austerity, of course - there is a backlash

Greece's leftwing government expressed confidence on Tuesday that parliament would approve a debt deal with lenders, despite an angry reaction from some of its own lawmakers who accused it of caving in to pressure for more austerity.

Concessions offered by Prime Minister Alexis Tsipras, including hikes to tax and pension contributions, garnered a cautious welcome from euro zone leaders but triggered a furious reaction from some leftists in the ruling Syriza party.

One lawmaker said the deal was tantamount to a "tombstone" for Greece, after repeated rounds of austerity during five years of crisis.

Deputy parliament speaker and Syriza lawmaker Alexis Mitropoulos said the concessions were "not in line with the principles of the left" and would cause "social carnage".

http://www.reuters.com/article/2015/06/23/us-eurozone-greece-speaker-idUSKBN0P30EX20150623

[geek tragedy]

7. date on that is June 23, 2015. Mr. Bean responded by breaking off negotiations

and holding his stunt referendum

[Fred Sanders]

8. If there is majority support in the Parliament then these voices, one or two, are the minority.

"Cave" is just such a hackneyed term that ignores the complexities.

[Baclava]

16. Greece offers pension and tax reforms to gain bailout

Finance minister sends letter to European creditors saying he is prepared to roll out reforms as early as next week.

The Greek government has said it is prepared to roll out pension and tax reforms as eary as next week, as demanded by European creditors, in return for a three-year bailout package to save its economy from collapse.

"We propose to immediately implement a set of measures as early as the beginning of next week including: tax reform related measures; pension related measures" if the loan from the European Stability Mechanism (ESM) was forthcoming, the finance ministry said in a letter sent on Wednesday to the eurozone bailout fund.

http://www.aljazeera.com/news/2015/07/greek-fm-offers-pension-tax-reforms-gain-bailout-150708125322759.html

[closeupready]

3. Why the word 'vote' in scare quotes?

[Baclava]

6. Greek 'No' Vote on Bailout Referendum ...

So no means yes?

[closeupready]

10. 'No' was no to more austerity.

If the referendum was 'do you support another bailout from the Troika if they ease up on repayment terms', you would have gotten a VERY different result.

[Fred Sanders]

11. ..yes, on the terms as were offered before the referendum rejected those terms..these are different

terms.

Complexities.

[NCTraveler]

9. I believe the op....

I believe the op is making a point that the vote was symbolic when they put it in quotes. I must admit I am not familiar with the fear factor of the quotes as this is the first time I have heard of that. I didn't get a sense of being scared or in fear. I think they are trying to say that the government is going outside of the wishes of the vote, making the vote itself symbolic.

Not stating that is accurate with respect to the vote. But I thought the intention behind the quotation marks was clear.

[closeupready]

13. IME, typically, such grammaticisms are employed to connote fraudulence

on the part of someone involved in presenting a good faith argument as to their stated position on the matter being voted upon.

That is, "'vote'? Ha! Some vote, lol."

My counterpoint was that as far as I'm aware, it was a fair referendum.

Regardless, he clarified, and I responded to that. Cheers.

[geek tragedy]

5. it's not caving to request money--it would be caving to promise to implement

austerity measures.

He did not commit to implement austerity measures, there were no details.

Just the usual vague promise of "reforms"

[NCTraveler]

12. Pretty sure this covers austerity of some kind.

"He pledged that Athens would immediately begin implementing tax and pension reforms, starting next week, if Europe would provide funding needed to avert bankruptcy."

[geek tragedy]

14. it's not a promise unless there are details.

The real fun question is if they get down to details, how do those details compare to the proposal rejected last Sunday?

[Baclava]

15. Quite true. And Germany could say 'no', so it's not a given the request will even be granted.

How much difference a day makes, eh?

Greeks voice their hopes and fears on referendum result



Athens, Greece - Over the weekend, the debt-ridden Mediterranean country overwhelmingly voted against a bailout offer from its creditors that insisted on more austerity measures.

The result brought throngs of Greeks pouring out onto the streets of Athens to celebrate, despite the risks the outcome could hold for the country's banks and wider economy.

Sixty-one percent of population decided to reject a combined deal from the European Commission, European Central Bank (ECB) and International Monetary Fund that would have seen yet more cuts to the pension system and hikes on value added taxes.


http://www.aljazeera.com/indepth/features/2015/07/greeks-voice-hopes-fears-referendum-result-150707080729410.html

[Baclava]

17. Greek Government agrees to harsh austerity reform measures - live updates

Athens accepts harsh austerity as bailout deal nears

The Greek government capitulated on Thursday to demands from its creditors for severe austerity measures in return for a modest debt write-off

Athens is understood to have put forward a package of reforms and public spending cuts worth €13bn (£9.3bn) to secure a third bailout from creditors that could raise $50bn and allow it to stay inside the currency union.

"The irony has not been lost on anyone - even though governing MPs are making light of it - that after the Greeks’ resounding rejection of further biting austerity at the weekend, prime minister Alexis Tsipras has with lightning speed now agreed to put his name to the most punitive austerity package any government has been asked to implement during the five years of economic crisis in Greece."

http://www.theguardian.com/business/2015/jul/09/greece-debt-crisis-athens-accepts-harsh-austerity-as-bailout-deal-nears