Big surprise, eh?
Greece risks a collapse of the medical system, power black-outs, and an import blockade, if the Greek people reject creditor demands in a make-or-break referendum tomorrow, the EU’s highest elected official has warned.
Martin Schulz, the president of the European Parliament, said the EU authorities may have to prepare emergency loans to keep basic public services functioning and to prevent the debt-stricken country spinning out of control next week.
“Without new money, salaries won’t be paid, the health system will stop functioning, the power network and public transport will break down, and they won’t be able to import vital goods because nobody can pay,” he said.
That this fat fucker has risen to the top of the system is all we need to know that we have to be out of it.
Mr Varoufakis angrily dismissed “malicious rumours” that Greece’s banks are drawing up plans to seize a share of all deposits above €8,000 in a so-called “bail-in”. This is far below the EMU-wide deposit guarantee of €100,000.
The claims have been widely aired by Greek television and the conservative press, though no sources have been identified.
Louka Katseli, the head of the Greek banking association, said the reports were fiction.
My word, I wonder where the rumour did come from? Someone trying to influence the vote perhaps?
It has emerged that European members on the board of the International Monetary Fund tried to suppress the publication of a report by the IMF showing that Greece’s debt is “unsustainable” and that the country is in grave need of debt relief.
This validates the claim by Syriza that a deal without debt restructuring fails to go to the root of the problem, and merely ensures another crisis later. Angry staff members at the IMF leaked parts of the paper to the German press, forcing full publication.
Shoot them all say I.