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Analysis: Greek debt, gold, espionage, and US anti-Putin propaganda may yet make Merkel face East.

OWoN: Now which side does Angela bat for?

There have been several stories of a shift east being made by Germany last week.

One could expect that Germany will leave the Euro and join the BRICS next month, if not sooner. Certainly they will not be in a mood to deal with the Greek bond default on the horizon. Given that Italy owes suppliers a $100 billion and is going on holiday for August one might assume that the days of kicking the can down the road maybe over in Italy. And with the German spy camp ordered to treat the Brits and Americans like the enemy, the future is already very different than the past.

Berlin - Washington Relations In Crisis

The Slog
By John Ward
29 July 2014

As European citizens head for the August Beach fest, very few of them will be aware that the World may be on the brink of the biggest shift in global power scales since 1938. The reasons for this are various…but they are all, allegedly, giving Mutti Merkel pause for thought.

Last January I posted at some length about how Greece would default on May 21st this year without further help. Unusually for this site, quite a few MSM bods picked up on the analysis and the piece wound up getting the best hits here at The Slog for over two years.

As things turned out, through a combination of obfuscation and misrepresentation, Samaras and his cronies got their backdoor bailout just in time: ‘Greece needs another infusion of money to avoid default in May, when it has to repay 12.5 billion euros ($17.2 billion) of government debt’ confirmed Keep Talking Greece in late March. The big brown envelope duly arrived (despite doubts in both Brussels and Frankfurt) and not a single western mainstream medium so much as raised a peep about it.

But tempers fugit and all that, and now here we are at Stage Two (how time flies when you’re enjoying yourself) with just weeks to go before the next hurdle….a $3.8bn shortfall on this little baby:

20th August 2014 is just 22 days away. I’ve been Googling every which way for the last four days, but I can’t find a single EU document, MSM article, ECB release or even heavily-laden carrier pigeon bearing any enlightenment as to what happens next. The entire European mainland population will be on holiday anyway, but I think somebody should be asking the question about who finds/prints/donates/steals the money that Antonikis and Benny now need.

One clue might lie in a piece from April this year, which – spookily – noted how Eurostat calculated Greece’s primary surplus in 2013 to have been…..$3.8bn. I would lay good money that this bit of corporate accountancy becomes the EC explanation of choice….if indeed anyone even bothers to ask.

What even Eurostat cannot avoid, however, is the reality that the total Greek debt mountain is 318.7 billion euro, Greece has the highest debt-to-GDP ratio in the 18- nation single-currency bloc, and Greece has received 240 billion euro in bailout since 2010.

Think on that: one quarter of a trillion euro. And there is, mathematically – under the Troika deal struck in 2012 – no way on Earth that Greece can pay it back…short of discovering an 18-mile deep seam of top-carat diamonds up Venizelos’s capacious back passage.

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  1. Germany joining BRICS would be huge, and a very positive development for the people of Germany.


    1. But where is UK?

      What do they stand for, beside some Lords? I expected honestly that UK will try to get a leading role, they blew it apparently having their compass on the north pole looking at it and having academic discussion where in the hell is north direction....? I guess.

    2. Here you have it.....


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