"Political risk" in Greece
The latest moves are turning up the heat on Greece's politics as Athens complies with conditions set for a second bailout, set to include banks voluntarily offering to extend the maturities on the Greek bonds they own.
The specter ["haunting Europe"?] of political risk amplifies concerns voiced by the European Central Bank, which warned that rescheduling Greek debt is fraught with danger and could cause investor flight that would shake the European banking system.
Government officials say even members of the cabinet—unnerved by daily mass demonstrations [#47] outside the Parliament building and across Greece—oppose some of the new measures.
Meanwhile, Greece's official creditors acknowledged that the country will remain locked out of financial markets all through next year, according to a draft summary of a report by the so-called Troika.
The report by officials from the European Commission, the European Central Bank and the International Monetary Fund says that Greece's recession will be deeper and longer than projected, and consequently will take longer for the country to regain the markets' confidence.
Greece should do like Argentina did, and tell the IMF to go Fuck itself. Then they'll recover. Of course, Greece's political class is getting a cut from the privatizations, which is why they're trafficking their own people to the banksters. Just like home!
NOTE Gosh, I wonder how long it will be before the bankster's "confidence" is restored? At a guess, I'd say that will happen when every single public asset has been looted -- Gosh, I'm sorry, "privatized" -- and every public program not of direct benefit to the top 1% has been destroyed. And even that might not do it. Because it's a "confidence game." Eh? It's a long con, a Big Store The Size of the World. And when a con is that big, the victims have to lose everything...