Greek media report that cash machines are running in the country. Queues have disappeared altogether or consist of just 5 to 15 people. Greeks are currently restricted to a maximum of 60 euros but tourists can withdraw as much cash as their limit allows.
It may be irrelevant, but the Greek referendum is going ahead anyway, and with a question about two highly technical documents, which few professors of economics could decipher.
The referendum question is going to read:
“Greek people are hereby asked to decide whether they accept a draft agreement document submitted by the European Commission, the European Central Bank and the International Monetary Fund, at the Eurogroup meeting held on on June 25 and which consists of two documents:
‘‘The first document is called Reforms for the Completion of the Current Program and Beyond and the second document is called Preliminary Debt Sustainability Analysis.
‘‘- Those citizens who reject the institutions’ proposal vote Not Approved / NO
‘‘- Those citizens who accept the institutions’ proposal vote Approved / YES.’’
Anyway, the Greeks still have six more days until Sunday to gain a PhD level knowledge of economics and finance. With a summa cum laude in those subjects supplemented by extra reading matter, a few may be able to form some idea of the issues in the documents and whether they favour the proposals in the documents or not. Then again, six days might be a bit short.
And this is supposed to be democracy?
*GREECE STABILIZES AS BANKS REOPEN
*GREECE PREPARES TO DEFAULT TOMORROW IN RELATIVE CALM
*GREECE GRANTED ALMOST ALL LIQUIDITY IT ASKED FOR FROM ECB, ASKED FOR 95 BILLION EUROS, GOT 89 BILLION EUROS
*TSIPRAS AND VAROUFAKIS DISGRACED FOR TRYING TO SHUT DOWN GREEK BANKS AND ENGINEER CHAOS
*CONTINUED CONFUSION OVER REFERENDUM ON SUNDAY
*POLLS SHOW YES TO EURO RESULT ASSURED
*YES TO EURO IS BEST MOVE FOR GREECE TO AVOID TOTAL COLLAPSE
The decision by Greek Prime Minister Alexis Tsipras to call a referendum on a bailout deal in the middle of a default shows a callous disregard for the Greek people and for democracy.
Tsipras could have called a referendum months ago if he were really interested in the opinion of the Greek people. The bailout negotiations have been dragged out by him for months. Instead, Tsipras broke off negotiations without warning and called a referendum at midnightm just three days before Greece was due to default, and enter a period of chaos.
Indeed, Tsipras and his finance minister Yannis Varoufakis immediately tried to exploit the confusion to plunge Greece into political, social and economic turmoil.
Early on Sunday afternoon, Varoufakis announced the closure of Greek banks on Monday while the ECB was still meeting to discuss extending liquidity to those very same banks.
The timing of Varoufakis’ announcement alone makes it clear that his plan to shut the banks had nothing to do with financial necessity, and everything to do with politics.
Varoufakis had clearly made the cynical calculation that the poorest section of Greek society, living from hand to mouth, would start to riot when they were unable to withdraw their pensions and salaries at the of the month.
Civil disorder and riots would be welcomed by the private bankers and Billionaire George Soros, who is well known for his Colour Revolutions.
Central Bank Governor Yannis Stournaras might also have been eager for chaos to evade responsibility for his role in the Siemens cash for contracts scandal.
But the plan of Varoufakis went seriously wrong.
Faced with the ECB decision on Sunday to give Greek banks 89 billion euros, almost all of the 95 billion Greece had asked for, there was no longer an excuse to shut the banks on Monday.
The Guardian reports that Greece had asked the ECB for a mere €6bn in extra liquidity in addition to the current €89bn.
At this point, any intelligent person would have seen the writing on the wall and changed strategy. But the banksters have no intelligence.
Determined to shut the banks and engineer a financial and social collapse regardless, Alexis Tsipras himself went on TV on Sunday night. With obvious relish, he announced that Greek banks would be closed for an unspecified time, at least, it seems, until after the referendum was held on July 5th. To hell with he Greek people who might not be able to eat for a week!
That was Tsipras’ fatal mistake.
Flooded with vast amounts of liquidity from the ECB, technically solvent and fully operation, the Greek banks had no option but to reopen their cash machines on Monday.
850 banks are set to open on Thursday for pensioners, according to media.
Tourists are allowed as much cash as they want.
As a result, the people of Greece can now contemplate in relative calm the extent of the betrayal and lies and trickery of Tsipras, Varoufakis and the leadership of Syriza, including Parliamentary President Zoe Konstantopoulou.
They have strung the Greek people along with a piece of theatre until a default was about to occur. Then, they set about trying to bring Greece to the brink of financial collapse, riots and civil war.
All of this mayhem is supposed to be justified by a meaningless referendum to be held on July 5th on a bailout deal which no longer exists.
Moreover, the bailout negotiations were broken off by Tsipras in the middle of talks on Friday. That means, it is not at all clear what reforms were on offer. Tsipras can invent whatever he pleases in the fog of the confusion he helped create by his subterfugre lies, and put it on the referendum paper.
In addition, the voting slips for the referendum may not be able to be printed and delivered on time, leaving it wide open to manipulation. Finally, the referendum may not even be legal.
All the polls show the Greeks will vote overwhelmingly Yes to the bailout terms, whatever they may be. It is inconceivable that they will change their minds in a week and vote No.
In this chaotic situation, a Yes vote would, indeed, be the best move for Greece. A Yes vote will trigger elections, and spell the end of the dangerous controlled opposition of Tsipras, Varoufakis, Giorgos Chondros and Zoe Konstanopoulou, who played a key role in whipping up support for the disastrous referendum in parliament on Saturday night, and their ilk.
Tsipras has financial links to billionaire George Soros. Soros’ hedge fund has just been fined for trying to destroy the share prices of Greek banks by naked short selling.
The creation of fake leftist organizations like Syriza in Greece and Podemos in Spain to attract voters and money away from legitimate ones is a well known tactic of the CIA, MI5 and other secret services.
Ecuador has recently documented how all political (and media)organizations of significance, from the far left to the far right, were infiltrated, often at the highest levels.
ECB: CHANGING ARTICLE 123 OF THE TREATY ON THE FUNCTIONING OF THE EU WILL STRIP PRIVATE BANKS OF THEIR POWER TO CREATE MONEYJune 29, 2015
So here we have it! The paragraph in the EU Treaties which needs to be changed for the ECB to issue sovereign money is article 123 of the Treaty on the Functioning of the EU.
My questions to the bank asking whether the private creation of money in the eurozone was lawful and constitutional were not addressed by the bank’s Global Media Relations team in their email today.
But they did help pinpoint the technical article in the EU treaties that allows private banks to have an unlawful and unconstitutional monopoly on the money creation in the eurozone.
Now, someone in the European Commission just has to take out their red pen out, strike out the word “prohibited” in article 123 of the Treaty on the Functioning of the EU, and replace it with the word “allowed” and make it law by decree. Hey presto, our eurozone debt problem will be solved as economists from the IMF have argued.
The ECB reply in full:
The so-called prohibition of monetary financing is based on article 123 of the Treaty on the Functioning of the EU, see http://www.ecb.europa.eu/ecb/legal/pdf/c_32620121026en.pdf, which reads: Read the rest of this entry »
*CASH MACHINES REOPENED IN GREECE AT MIDDAY
*BILD NEWSPAPER REPORTS ALL CASH MACHINES ARE BACK IN OPERATION
*CENTRAL BANK HAD PREVISOUSLY SAID 70 WOULD OPEN FOR PENSIONERS
*WITHDRAWALS LIMITED TO 60 EUROS, ENOUGH TO AVERT SOCIAL CHAOS
*FREE TRAVEL ALLOWED ON PUBLIC TRANSPORT IN ATHENS
*GAMBLE TO SHUT DOWN BANKS AND TRIGGER RIOTS BACKFIRES ON TSIPRAS AND THE PRIVATE CENTRAL BANKERS
*TSIPRAS ACCUSED OF BETRAYING HIS PEOPLE EVEN IN MAINSTREAM MEDIA
*TISPRAS WRITES TO EUROGROUP BEGGING FOR HELP AND NEW BAILOUT NEGOTIATIONS
*CONFUSION GROWS OVER REFERENDUM QUESTION ON BAILOUT WHICH WAS IN THE MIDDLE OF BEING NEGOTIATED AND IS NOW NO LONGER ON THE TABLE ANYWAY
*END OF THE CAREERS OF TSIPRAS, VAROUFAKIS AND ZOE KONSTANTOPOULOU, THE ARCHITECTS OF THE NEAR FINANCIAL COLLAPSE OF GREECE
*GERMAN SECRET SERVICES WARN OF COUP, MEDIA REPORTS
*GREEK MILITARY WILL NOT ALLOW BRITISH MERCENARY COMPANY G4S CONTROL THE COUNTRY’S LEGAL TENDER
*GREEK MILITARY SHOULD TARGET ONLY THE POLITICIANS, JOURNALISTS, BANKERS AND OLIGARCHS RESPONSIBLE. ALL GREEKS, LEFT AND RIGHT, MUST UNITE AGAINST THE PRIVATE BANKERS.
The Berlin airlift involved the transport of food and supplies to Germans trapped in Berlin in the Soviet zone.
An Athens airlift involving the transport of billions of euros of physical cash is now needed to supply banks in Greece with the euro notes and coins they need to open on Monday. The German and French airforce should send transports of cash to Athens tonight. Soldiers could also be sent to help Greek police and military deliver the cash to banks in the morning.
The Greek banks are technically solvent. Today, the ECB allowed them to continue to access almost 90 billion euros a day. Plans by the Greek central bank and Prime Minister Alexis Tsipras to shut banks indefinitely from Monday are, therefore, illegal.
British mercenaries belonging to the G4S security group, which have been hired by the private Greek central bank to control physical cash, have to be stopped by force if they try to obstruct cash deliveries to bank.
A picture of the Berlin airlift, which saved West Berlin….A similar daring and speed is needed to save Greece as well as Europe today.
TSIPRAS SAYS BANKS WILL STAY CLOSED FOR AN UNSPECIFIED TIME, EUROPE MUST PREPARE TONIGHT TO TRANSPORT CASH TO GREECE, PROTECT DELIVERIES TO BANKSJune 28, 2015
UPDATE: TSIPRAS HAS FOLLOWED A RECOMMENDATION BY THE PRIVATE CENTRAL BANK AND INSTRUCTED GREEK BANKS TO CLOSE FOR AN “UNSPECIFIED TIME”.
THE ECB REFUSED TO INCREASE LIQUIDITY TO GREEK BANKS BEYOND THE 90 BILLION EUROS IT GAVE ON FRIDAY. BUT TSIPRAS IS SPINNING THE ECB DECISION TO SUGGEST A LACK OF LIQUIDITY AND TO JUSTIFY THE CLOSURE OF GREEK BANKS FROM MONDAY.
BANKS WHICH HAVE ACCESS TO 90 BILLION EUROS A DAY HAVE PLENTY OF LIQUIDITY. THEY ARE TECHNICALLY SOLVENT AND SHOULD BE OPEN ON MONDAY.
PHYSICAL CASH TO FILL THE ATMS OF GREEK BANKS SHOULD BE SENT TONIGHT FROM THE ECB IN FRANKFURT BY PLANE IF NECESSARY.
GREEK POLICE NEED TO PROTECT EURO CASH TRANSPORTS TO BANKS ON MONDAY.
THE CLOSURE OF BANKS FOR ANY LENGTH OF TIME COULD LEAD TO RIOTS, POLITICAL RADICALISM AND ULTIMATELY CIVIL WAR.
EUROPE MUST PREPARE TO GIVE FOOD TO STOP THE SOCIAL UPHEAVAL.
TOP GREEK FUEL SUPPLIER SAYS HAS ENOUGH FUEL FOR MONTHS.