Thursday, June 23, 2011

LOL: Greece Agrees on Austerity Plan With EU, IMF

Greece has won the consent of a team of EU-IMF inspectors for its new five-year austerity plan on Thursday after committing to an additional round of tax rises and spending cuts, sources with knowledge of the talks said, reports CNBC.

What exactly does this mean other than that the banksters are in full panic mode? They might as well have announced that I negotiated the deal on behalf of the Greek people.

The Greek parliament hasn't approved anything and there isn't even a vote scheduled until next week on any austerity program.

Bottom line: The EU-IMF is trying to signal as clearly as possible that they are going to make the current 12 billion euro payment to Greece regardless of whether there truly is an austerity plan, or not. The Greeks can pledge to anything, just like they have before, and not enforce any part of the austerity pledge and the check is going to come, kicking the crisis down the road for maybe only two or three months.

1 comment:

  1. The Greeks should lower the retirement age to 42 and give a one time payment to every citizen of $10,000, because ... why not?