Preliminary Findings - Executive Summary of the report
All The Evidence we Present in this Report shows Greece That not only does not Have The Ability to Pay this debt, But Also shouldnt not Pay this debt First and Foremost BECAUSE The debt Emerging from The Troika 's Arrangements Is A Direct infringement on The Fundamental human rights of the residents of Greece. Hence, we came to the conclusion that Greece should not pay this debt because it is illegal, illegitimate, and odious.
It has also come to the understanding of the Committee that the unsustainability of the Greek public debt was evident from the outset to the international creditors, the Greek authorities, and the corporate media. Yet, the Greek authorities, together with some other governments in the EU, conspired against the restructuring of public debt in 2010 in order to protect financial institutions. The corporate media hid the truth from the public by depicting a situation in which the bailout was argued to benefit Greece, whilst spinning a narrative intended to portray the population as deservers of their own wrongdoings.
Bailout funds provided in both programmes of 2010 and 2012 have been externally managed through complicated schemes, preventing any fiscal autonomy. The use of the bailout money is strictly dictated by the creditors, and so, it is revealing that less than 10% of these funds have been destined to the government's current expenditure.
This preliminary report presents a primary mapping out of the key problems and issues associated with the public debt, and notes key legal violations associated with the contracting of the debt; it also traces out the legal foundations, on which unilateral suspension of the debt payments can be based. The findings are presented in nine chapters structured as follows:
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www.reuters.com/article/2015/06/17/...k-idUSKBN0OX0SR20150617?
Greece's future in EU in doubt if talks fail, central bank warns
A warning by Greece's central bank that the country risked being driven from the euro zone and, ultimately, the European Union failed to break a deadlock with creditors before a potentially decisive meeting of European finance ministers.
"People are getting anxious on both sides. Athens expects Brussels to move. And Brussels expects Athens to move. And it’s stuck," said a senior EU diplomat, who declined to be named. "It’s very dangerous, and we may have an accident."
Making clear the huge stakes at play, the Greek central bank said reaching an accord was "an historical imperative" that the country could not ignore.
A top Greek negotiator told Reuters that Prime Minister Alexis Tsipras' leftist government was ready to make unspecified concessions but he once again ruled out any cuts to pensions - a major sticking point in the negotiations.
Germany, Europe's biggest economy, maintained its line that Greece had to make significant moves to break the stalemate.
Athens has until the end of June to find a way out of the impasse before it faces a 1.6 billion euro ($1.8 billion) repayment due to the International Monetary Fund, potentially leaving it bankrupt and teetering on the edge of the euro zone.
It won't work without Greece moving significantly," German Foreign Minister Frank-Walter Steinmeier said in Berlin.
Greek negotiator Euclid Tsakalotos confirmed that Greece does not have the money to repay the IMF and said the government would only accept a deal that was sustainable and addressed debt, financing and investment - issues the European Union has said it does not want to open at this stage.
"If you have that, then the Greek government will sign the deal," Tsakalotos said. "If it doesn't have that kind of deal there is no point in signing onto something that you know is going to fail."
Hopes that a deal might be struck on Thursday at a meeting of European finance ministers looked increasingly remote.....
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