Greece stares down Europe’s austerity ultimatum

By KYLE ANDREW BROWN

Athens, June 2 – Prime Minister Alexis Tsipras says his government presented a realistic austerity plan to the Europe 5 who met Monday night to craft a final set of ultimatums for Greece to adhere to.

The Europe 5 met behind closed doors in the Berlin Chancellory: IMFs  Christine Lagarde ECB president Mario Draghi, Chancellor Angela Merkel and France’s François Hollande.

Gazzetta.gr is reporting that the prime minister initially expected it to be a tripartite meeting with the Chancellor and President Hollande. When informed of the inclusion of the IMF Chairman and ECB President the Greek prime minster made a tactical mode and bailed: “in order not to be found across all five leaders and they bring him before faits accomplis, a proposal to «take it or leave it».

Instead of attending the Berlin mini summit Tsipras put the drop of his 50 pages of  “realistic” proposals – retaining previous time and opportunity for the Greeks to maneuver before the credit window is finally closed.

The pronouncement of placing economic “austerity” ultimatums upon Greece by Europe’s political leadership is done at the behest of creditors holding unsecured Greek debt that has accumulated for decades.

That debt has fattened Europe’s bank financial balance sheets as assets as well as the paychecks of government and banking big shots.

In turn it has fueled – however unpretty – the sputtering Greek economy that has for decades not collapsed and sent Europe into the dramatic finger pointing that now engulfs the headlines.

Tsipras is desperate for an agreement to be made with the Institutions that will sustain the razor thin finances of his embattled country and release € 7.2 billion in remaining bailout funds. Yet it mush be an agreement – not an ultimatum – that genuinely moves Greece forward into the European community with justice and equality.

In the shell game that governs the Greek predicament €1.5 billion must be returned to the creditors as payment on existing debt this very month.

Go figure.

June 2, 2015