The Duran
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Alexis Tsipras puts on a necktie, places noose around Greece's neck
Posted
June 29, 2018
Views
6,370
Likes
273
Comments
32
Engagement
4.79%
June 29, 2018
6,370
273
32
4.79%
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*****
The Duran – News in Review – Episode 36.
While many Syria party members hailed Tsipras' victory, the reality is that Greece will be stuck in its bailout for years to come.
The terms of Greece's exit make it extremely difficult for the next government to bring life to an ailing economy. Greece may have exited the Troika austerity plan, only to enter a new austerity outside of ECB and EU protection.
After long insisting he would only wear a necktie when Greece's debt problem was solved, Prime Minister Alexis Tsipras finally put on a tie last Friday, after he formally announced Greece's exit form years of eurozone austerity.
Tsipras said...
"Today is an important day for all, but primarily it belongs to those who for eight years was viciously hit by the crisis, for those who saw a lifetime of toils destroyed and those who carried the burden for the country."
Eurozone finance ministers offered Greece a 10-year deferral and maturities extension on a large chunk of past loans as well as 15 billion euros in new credit to ensure Athens can stand on its own feet after it exits its bailout in August.
Greece's has a debt mountain equal to approximately 180% of GDP, the highest in the 19-country eurozone.
Greeks have seen their economy shrink by a quarter, unemployment hit record high and salaries and pensions slashed by about 40% since first falling into crisis in 2010.
Greece has already undergone three international bailouts.
A smiling Tsipras addressed members from his radical left Syriza, and right coalition partner Independent Greeks...
"Bets are made to be won. It's a bit difficult (wearing the tie) but I will get used to it."
Tsipras publicly removed the tie about half an hour later.
Fofi Gennimata, head of Socialist PASOK party, was not impressed with Tsipras' theatrics: "The noose around the neck of Greeks remains."
The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss whether Greece's exit from austerity is really an exit at all, or just another political ploy with no real economic relief in sight for the Greek people.
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