Continued Fallout from Doomed New Greek Murder Pact

The backlash against the genocidal deal shoved down the throat of the Greek government by the EU, continues to escalate.  Over the past days, two Daily Telegraph leading economic writers, Ambrose Evans-Pritchard and Liam Halligan, warned of the doom of the eurozone and lambasted the European Commission in Brussels for what one EU official, cited by Pritchard, called the “psychological ‘water boarding’ of Greek Prime Minister Alexis Tsipras.”  Pritchard noted that, “There is not the slightest chance that Greece will be able to stabilize its debt and return to viability under the Carthaginian settlement imposed on Alexis Tsipras… The latest paper by the International Monetary Fund has torn away the fig-leaf.  The country needs a 30-year moratorium on debt payments and probably outright subsidies to recover from the devastation of the past six years… Some are already comparing the terms to the Versailles Treaty, but this does not quite capture the depravity of it.”

Pritchard went on to say that the only viable option for Greece was the proposal for a departure from the Euro—a proposal, ironically, that was put forward by German Finance Minister Schaeuble as early as 2012.  Pritchard said, however, that German Chancellor Merkel used the threat of Greek expulsion to terrorize Tsipras into capitulation.  “So we now have the worst of all worlds.  The deal is an atrocity.  The crisis has not been resolved. The integrity of the EMU has been breached. Greece has been publicly crushed and humiliated, yet for no purpose.  The country cannot possibly meet the demands.  There is no debt relief (other than a vague and worthless promise for the future).”  Pritchard concluded that Greece’s exit from the Euro is inevitable.

Liam Halligan wrote that the recent statements by U.S. Fed Chairwoman Janet Yellen and Bank of England Governor Mark Carney about looming interest rate hikes will not happen, because the crisis in Europe has not been in the least resolved, the EMU is in shambles, and the U.S. economy is not actually growing. “Western Europe, with its powder-keg currency union, and moribund banking sector, sporting over a trillion euros of non-performing loans, remains in grave danger of the systemic lurch. Policymakers everywhere know it.”

Stephen Lendman picked up, in a weekend column, on the latest interview given by former Greek Finance Minister Yanis Varoufakis, who told BBC that the deal had “failed already.” Varoufakis explained, “We were given a choice between being executed (or) capitulation.”  Lendman added, “Tsipras chose the latter option instead of the obvious alternative one: voluntary Grexit, leaving a sinking ship, defaulting on odious debt, regaining monetary and fiscal control along with regaining full national sovereignty beholden to no foreign powers.”

Lendman ended by observing that “The Eurozone was doomed from inception.  Unworkable ideas can’t stand the test of time. Greece is the first crack in the system.  Expect others to follow.  It’s just a matter of time before dissolution becomes reality.”

Wolfgang Munchau, writing in the Financial Times, concluded, as well, that the Grexit is now inevitable as the consequence of the wretched deal that was imposed.