IMF Analysis Admits that Greece Needs Substantial Debt Relief, Validating Tsipras’ Contention; Creditor Governments Tried to Suppress Report Until After July 5 Referendum; Top Eurogarch Tusk Confesses that Grexit Is Not an Issue in Vote, Undermining Hysterical Fearmongering by Reactionary Financiers; IMF Director Paulo Batista Says 90% of Bailout Funds Went Directly to German and […]

IMF Analysis Admits that Greece Needs Substantial Debt Relief, Validating Tsipras’ Contention; Creditor Governments Tried to Suppress Report Until After July 5 Referendum; Top Eurogarch Tusk Confesses that Grexit Is Not an Issue in Vote, Undermining Hysterical Fearmongering by Reactionary Financiers; IMF Director Paulo Batista Says 90% of Bailout Funds Went Directly to German and […]

Three days ago Russian Envoy to the EU Vladimir Chizhov said that Moscow is prepared to help Greece out economically. “Russia is ready to cooperate with Greece. As far as I know, Greece has not turned to Russia for direct financial aid. We have the ability of increasing our economic cooperation, in particular Greece has the ability of privatizing, including railroads and the port” in Thessaloniki, he told RIA Novosti in an interview.

On Thursday he told Russia 24 TV,

“Russia calls on [the] EU to respect any choice of Greece in Sunday’s referendum. I think here there is, of course, an element of confusion. They all understand somehow that to argue against the referendum does not fit into democratic states, so after the first reaction, supposedly the referendum will have no legal force, followed [by] more balanced statements that the EU will respect any choice of [the] Greek people. However, this does not prevent certain political actors in the EU to be involved in the internal affairs of Greece openly, and openly engaging in propaganda in favor of a positive answer in the referendum on the question of acceptance of the creditors.”

Well-known French economist Thomas Piketty told Belgium’s Le Soir daily that he supports a ‘no’ vote in the referendum because the plan the creditors propose to Greece is bad and recessionary. He reminded those who want to vote ‘yes’ that the Europeans broke their promise in 2012 over restructuring the Greek debt. As for the idea that a Grexit would supposedly have no effect on the Eurozone, he said, those who believe this are “sorcerer’s apprentices”; by contrast a Greek exit from the euro “would bring a huge shock to the Eurozone in the whole. It would, probably be, the beginning of the end….”

Meanwhile other foreign supporters have expressed their support for the “Oxi” vote. Members of the campaign groups Global Justice Now and Jubilee Debt Campaign, on July 3 unfurled a banner at the Parthenon Marbles in the British Museum with the slogan “OXI No — No More Looting — Support Greece.”

Britain’s Guardian daily reports that 100 researchers from the European University Institute have issued a statement in support of the “No” vote, saying that with

“full-hearted solidarity with the Greek people, who, for five years now, have been suffering the dramatic consequences of the austerity policies imposed by the Troika, and are now struggling for the right to decide upon their own future…. The choice, in Sunday’s referendum, is neither about the euro nor about the Greek government. It is a choice between austerity and democracy in the whole of the European Union. A choice between fear and hope.”

Three days ago Russian Envoy to the EU Vladimir Chizhov said that Moscow is prepared to help Greece out economically. “Russia is ready to cooperate with Greece. As far as I know, Greece has not turned to Russia for direct financial aid. We have the ability of increasing our economic cooperation, in particular Greece has the ability of privatizing, including railroads and the port” in Thessaloniki, he told RIA Novosti in an interview.

On Thursday he told Russia 24 TV,

“Russia calls on [the] EU to respect any choice of Greece in Sunday’s referendum. I think here there is, of course, an element of confusion. They all understand somehow that to argue against the referendum does not fit into democratic states, so after the first reaction, supposedly the referendum will have no legal force, followed [by] more balanced statements that the EU will respect any choice of [the] Greek people. However, this does not prevent certain political actors in the EU to be involved in the internal affairs of Greece openly, and openly engaging in propaganda in favor of a positive answer in the referendum on the question of acceptance of the creditors.”

Well-known French economist Thomas Piketty told Belgium’s Le Soir daily that he supports a ‘no’ vote in the referendum because the plan the creditors propose to Greece is bad and recessionary. He reminded those who want to vote ‘yes’ that the Europeans broke their promise in 2012 over restructuring the Greek debt. As for the idea that a Grexit would supposedly have no effect on the Eurozone, he said, those who believe this are “sorcerer’s apprentices”; by contrast a Greek exit from the euro “would bring a huge shock to the Eurozone in the whole. It would, probably be, the beginning of the end….”

Meanwhile other foreign supporters have expressed their support for the “Oxi” vote. Members of the campaign groups Global Justice Now and Jubilee Debt Campaign, on July 3 unfurled a banner at the Parthenon Marbles in the British Museum with the slogan “OXI No — No More Looting — Support Greece.”

Britain’s Guardian daily reports that 100 researchers from the European University Institute have issued a statement in support of the “No” vote, saying that with

“full-hearted solidarity with the Greek people, who, for five years now, have been suffering the dramatic consequences of the austerity policies imposed by the Troika, and are now struggling for the right to decide upon their own future…. The choice, in Sunday’s referendum, is neither about the euro nor about the Greek government. It is a choice between austerity and democracy in the whole of the European Union. A choice between fear and hope.”

Greek Prime Minister Alexis Tsipras addressed the nation yesterday to argue for a “No” vote in the July 5 referendum on whether to accept or reject the demands of the creditors. He very strongly used the report by the International Monetary Fund which had revealed that the Greek debt is unsustainable and must be cut by at least 30%.

ANA-MPA news quoted Tsipras as saying,

“Yesterday an event of major political importance happened…The IMF published a report on Greece’s economy which is a great vindication for the Greek government as it confirms the obvious — that Greek debt is not sustainable…The report was never shared by the institutions during the five months that we’ve been negotiating,”

and thus the government only learned about it yesterday.

He urged Greeks to head calmly to the polls:

“Let us say no to ultimatums and division…weighing the arguments, not the slogans… Let’s silence the fear-mongering and baseless talk of disaster…Sunday does not decide our exit from the euro but whether we will consent to the slow death of the economy under conditions of blackmail…[and]…decide for democracy and dignity… The Greek people can’t be bled dry any longer!”

Deputy Prime Minister Yannis Dragasakis told local private radio station Sto Kokkino that a “Yes” vote implies that the Greek people can at least can bear the fact that “we live under a regime of limited sovereignty at the margins of a protectorate.” Referring to the end of the bailout program and the latest IMF report, he said, “Now that the [bail-out] program has ended we have the opportunity to set the debt issue more clearly” as the IMF report’s reference to the unsustainability of the debt “changes all the facts.”

In a combative statement, retired senior diplomat Leonidas Chrysanthopoulos told EIR that the European Union has become Greece’s enemy by literally declaring war on the government. He described the propaganda campaign as nothing less than the work of Goebbels using lies to create terror in the population.

He said that, in his estimation, if a “No” vote wins, the government is likely to go to the EU and say, “OK you have our proposals, so let’s begin negotiations.” If the creditors reject talks then, the next step would be to renounce the loan agreement and file for indemnities for damages done by the loan agreement. If the Greeks vote yes, the government will resign and then a constitutional process will occur, which may lead to elections or a caretaker government.

Either way, the fact that the EU has treated Greece like an enemy will have deep psychological effect in a very large portion, if not the majority of the population.

Greek Prime Minister Alexis Tsipras addressed the nation yesterday to argue for a “No” vote in the July 5 referendum on whether to accept or reject the demands of the creditors. He very strongly used the report by the International Monetary Fund which had revealed that the Greek debt is unsustainable and must be cut by at least 30%.

ANA-MPA news quoted Tsipras as saying,

“Yesterday an event of major political importance happened…The IMF published a report on Greece’s economy which is a great vindication for the Greek government as it confirms the obvious — that Greek debt is not sustainable…The report was never shared by the institutions during the five months that we’ve been negotiating,”

and thus the government only learned about it yesterday.

He urged Greeks to head calmly to the polls:

“Let us say no to ultimatums and division…weighing the arguments, not the slogans… Let’s silence the fear-mongering and baseless talk of disaster…Sunday does not decide our exit from the euro but whether we will consent to the slow death of the economy under conditions of blackmail…[and]…decide for democracy and dignity… The Greek people can’t be bled dry any longer!”

Deputy Prime Minister Yannis Dragasakis told local private radio station Sto Kokkino that a “Yes” vote implies that the Greek people can at least can bear the fact that “we live under a regime of limited sovereignty at the margins of a protectorate.” Referring to the end of the bailout program and the latest IMF report, he said, “Now that the [bail-out] program has ended we have the opportunity to set the debt issue more clearly” as the IMF report’s reference to the unsustainability of the debt “changes all the facts.”

In a combative statement, retired senior diplomat Leonidas Chrysanthopoulos told EIR that the European Union has become Greece’s enemy by literally declaring war on the government. He described the propaganda campaign as nothing less than the work of Goebbels using lies to create terror in the population.

He said that, in his estimation, if a “No” vote wins, the government is likely to go to the EU and say, “OK you have our proposals, so let’s begin negotiations.” If the creditors reject talks then, the next step would be to renounce the loan agreement and file for indemnities for damages done by the loan agreement. If the Greeks vote yes, the government will resign and then a constitutional process will occur, which may lead to elections or a caretaker government.

Either way, the fact that the EU has treated Greece like an enemy will have deep psychological effect in a very large portion, if not the majority of the population.

We discuss the Greek referendum, the 50 ways to not pay their creditors and the future for the “demerging” economy in which debts are repaid “parametrically.” In the second half, Max interviews Simon Dixon about what Bitcoin could do for