politics for the 99%

Published on Russia Today RT, March 20, 2015 – (with Picture: Screenshot from Bank of Greece.gr Website)

While Mr Tsipras isn’t saying what’s left in the bank, he acknowledges Greece is facing “liquidity pressure.” The country’s cash shortfall is projected to hit €3.5 billion in March, according to Bloomberg calculations based on 2015 budget figures.

Greece’s coffers are spread thin, but the country has €3-4 billion in buffer cash stored at the Bank of Greece that could be used at a pinch, according to Economy Minister George Stathakis.

By the end of March, Greece needs to pay the IMF a total of €1.5 billion, €350 million of which is due on Friday … //

… The Greek government doesn’t want to extend its bailout package with the EU, but at the same time needs money to keep the country afloat.

The bailout, along with Greece’s massive €316-billion debt, has kept Greece in recession for more than six years. Unlike other countries bailed out by the EU, Greece has failed to reverse crippling unemployment or stunted growth, which has contracted 25 percent since 2010.

The EU was forced to come to Greece’s rescue in 2010 and 2014 with two bailouts totaling €240 billion. If Greece had gone rogue and defaulted, the turmoil would have spilled over to the then 18-member euro currency bloc.

Very little progress has been made between Athens and Brussels since both parties agreed to extend Greece’s bailout by four months.

(full text).

Links:

Latest Greece Talks End in Confusion, Dissent, on naked capitalism, by Yves Smith, March 21, 2015;

Drills for me but not for thee: NATO launches war games near Russian border, on Russia Today RT, March 21, 2015;

‘The living wall’: Russian artist breathes life into abandoned & shabby buildings (PHOTOS), on Russia Today RT, March 21, 2015;

Chart that tells a story, income tax rates, on Financial Times FT, by Adam Palin, March 20, 2015;

Canada: Green Party of P.E.I. releases election platform, on CBCnews.ca, MARCH 20, 2015: Restoring trust and faith in government is critical, says Green Leader Peter Bevan-Baker;

Atlantic Resolve: Continuous NATO War Games On Russia’s Western, Southern Borders, on Stop NATO, March 19, 2015;

UK – Budget 2015: More women than men will stop paying income tax, on The Telegraph, by Christopher Hope, March 19, 2015;

Espagne: La révolution selon Podemos, dans Politis.fr, par Erwan Manac’h, Marie Chambrial, le 19 mars 2015;

UK: Small beer Budget, George Osborne deserves credit for holding back on the bribery, on CITY A.M., by Mark Littlewood, March 19, 2015;

Rethinking Work, Income & Leisure, Albert Wenger On Basic Income, on Techdirt, by Leigh Beadon, March 18, 2015;

Villeneuve-d’Ascq: Le fait qu’il n’y ait pas d’écolos dans les Départements, ça se sent, dans La Voix du Nord, par Franck Bazin, le 18 mars 2015;

South Africa: Non-Income Poverty Levels Drop in Democratic South Africa, on allAfrica, March 18, 2015;

UK – Budget 2015: what it means for you, on The Guardian, by Miles Brignall, March 18, 2015;

Back Off NATO, There’s a New Army in Town, on The Moscow Times, by Pyotr Romanov, March 16, 2015;

Austerity policy failed in whole of Europe, not just Greece – PM, on Russia Today RT, March 16, 2015;

Dragoon Ride will send US troops through eastern Europe in show of support, on Stars and Stripes, by John Vandiver, March 12, 2015;

How The Public Are Deceived By The ‘News, on Countercurrents.org, by Eric Zuesse, March 11, 2015;

Sun continues to cause cancer in darkness, scientists discover, on Russia Today RT, Feb 20, 2015;

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