Wednesday, July 08, 2015

High Stakes Game of Chicken in Greece

High Stakes Game of Chicken in Greece

by Stephen Lendman

Greece is Exhibit A for predatory capitalism's rapaciousness - profiting at the expense of human misery along with looting weak nations of their wealth, assets and enterprises. 

Theft on the grandest scale reflects a world gone mad so super-rich bandits can accumulate endless more amounts of enormous wealth no matter the cost in human suffering.

Their world is unfit to live in for most people everywhere - systemic injustice on the grandest of grand scales, including mocking popular sentiment. European Council president Jean-Claude Junker called last Sunday's referendum a "circus" - overwhelming opposition to more austerity "irrelevant."

Ignore tough talk from Troika officials giving Athens five days to capitulate to creditors or face bankruptcy. On the one hand, piling on take-it-or-leave it ultimatums. At the same time saying "there is no basis for a deal," according to one of its unnamed officials while behind-the-scenes efforts work to find one.

High-intensity scare-mongering continues - aimed at ordinary Greeks and to get Prime Minister Tsipris to capitulate to Troika demands more than already, at least as how far further they can push him.

"Our inability to find agreement may lead to the bankruptcy of Greece and the insolvency of its banking system," European Council president Donald Tusk blustered.

German Chancellor Angela Merkel ruled out restructuring Greek debt as part of any agreement. At the same time, she lied saying she's resigned to Grexit. Heavy pressure from Brussels, Berlin and Washington warned Tsipras against it.

An emergency meeting of all 28 EU members was called for Sunday to discuss Greece. Merkel rejected short-term financing while negotiations continue for a third bailout. 

She insists Athens capitulate to deeper austerity before any deal can be consummated. She gave Tsipras until Thursday to present a new plan acceptable to Troika bandits and until Sunday to reach agreement.

He showed willingness to at least largely capitulate despite overwhelming public anti-austerity sentiment - saying he'll make "efforts" to reach accommodation "guarantee(ing) a way out of the crisis."

ECB president Mario Draghi said emergency loans to Greek banks won't be extended beyond Sunday. Greek Deputy Defense Minister Costas Lsychos said Athens will stay in the Eurozone and EU. 

He believes Tsipras will negotiate a successful agreement short of "social genocide" - very much ongoing slow-motion to speed up if greater austerity is imposed.

Severe Depression conditions exist. Public services are in disarray, especially increasingly unaddressed public health needs. 

Since 2010, GDP declined 26%. Per capita household income plummeted 40%. Unemployment exceeds 25%, worsening daily - for youths it's 60%. 

Pensions are 40% lower. Troika bandits want them slashed further. They want lots more besides. They want what no responsible societies would accept.

Tsipras largely capitulated before last Sunday's referendum. How much more remains to be seen. 

A previous article discussed a possible US-orchestrated coup replacing him perhaps with governance similar to fascists wrecking Ukraine. He was warned to accept Troika demands and stay allied with US-dominated NATO's anti-Russian agenda or else.

Troika bandits want unconditional surrender. They want unrestrained freedom to loot remaining Greek wealth, assets and enterprises along with consigning its people to impoverished indentured servitude.

On the one hand, Tsipras is mindful of last Sunday's plebiscite rejection of greater austerity. On the other, bet on him accommodating Troika demands more than he'll admit publicly in return for likely getting some minor concessions so he can show something positive from a Greek Versailles.

The more Greece borrows, the less it's able to repay, the more help it needs in return for greater austerity - a vicious destructive cycle until it's entirely looted and thirdworldized.

Stephen Lendman lives in Chicago. He can be reached at 

His new book as editor and contributor is titled "Flashpoint in Ukraine: US Drive for Hegemony Risks WW III."

Visit his blog site at 

Listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network.

It airs three times weekly: live on Sundays at 1PM Central time plus two prerecorded archived programs.