Don't WAIT!

Monday, June 15, 2015

Backdoc and KTFA Members: "Our Attention Goes To Greece!"

RE: PAPPA-J :  MAY I SUGGEST THAT YOU LOOK AT THINGS OUTSIDE OF IRAQ!!!! IMO THE WORLD EVENTS HAVE MORE TO DO WITH THE RV THAN THIS---- BULL---- THAT WE ARE HEARING FROM INSIDE OF IRAQ, SECURITY----

IF WHAT I TEAM HAS BEEN REPORTING IS ANYWHERE CLOSE TO THE TRUTH///////// ( AND I BELIEVE IT IS, BECAUSE OF THE AMOUNT OF BOMBINGS, INTERNATIONAL COALITION TROOPS, NOT TO MENTION US TROOPS ON THE GROUND SECURITY IS A FORGONE CONCLUSION!!!

THE ONLY FLAW IS THAT BAGDAD WANTS TO BE SEEN AS THE HERO AND HAVE CREDIT!!!!!!!!!!!!!!!!!!! UUUUGGGGGGG!!!!!! ------ GET ON WITH IT BAKER'S DOZEN !!!!!!!!!!

THE WHOLE WORLD KNOWS THAT IRAQI FORCES DON'T HAVE THE LEADERSHIP--- THANK YOU M FOR YOUR PURGE!!!!!!

....

IF YOU WANT YOUR MONEY KICK o IN HIS BACKSIDE, PUT THE US TROOPS THERE WITH R.O.E. TO CLOSE AND DESTROY THE ENEMIES OF IRAQ,

DRS WILL SHUT UP ABOUT SECURITY AND DO HIS JOB FOR A CHANGE AND WHILE THEY ARE AT IT KEEP M UNDER SEDATION, A PUBLIC TRIAL ONLY MEANS SECTARIAN VIOLENCE.)/////

YOU SEE THERE ARE A LOT OF ALTERNATIVES THAT CAN BE DONE AND YET THEY ARE NOT,

SOOOOO COULD IT BE THAT ALL THIS NONSENSE IS JUST SQUIRREL EVENTS TO KEEP THE PUBLIC OFF OF THE TRUTH????

PAY CLOSE ATTENTION WORLD EVENTS OUTSIDE OF IRAQ ME THINKS IRAQ IS IN LINE ALSO THEY WAIT JUST LIKE WE DO!!!!


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Backdoc: INDEED MY BROTHER!!   OUR ATTENTION GOES TO GREECE!

AS YOU SEE TODAY, MARKETS ARE FAILING TODAY AS THE DOW IS NOW NEGATIVE FOR THE YEAR.

OUR EYES ARE ON THE BOND MARKETS AS THEY HAVE BEEN IN SELLOFF MODE NOW FOR A WHILE!  DOC

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Thunderhawk  » June 15th, 2015, 9:07 am  Backdoc Alert

Greece PM Tsipras: Will reject any deal without debt relief


ATHENS/BRUSSELS -- Greek Prime Minister Alexis Tsipras said he was willing to accept unpalatable compromises to secure a deal with international creditors provided he gets debt relief in return, something that Germany refuses to countenance.

With Greece heading towards possible default and bankruptcy, he told his negotiating team before it took a counter-proposal to Brussels that without debt relief he would reject any settlement that isolates his country from the rest of Europe.

In little more than a fortnight, Athens must repay 1.6 billion euros ($1.8 billion) to the International Monetary Fund with money it does not have.

Read More Contrarian: Greece is going to default—here's why
Greek ministers arrived in Brussels on Saturday to resume negotiations on a cash-for-reforms deal with the EU and IMF creditors that ended in stalemate on Thursday.

The counter-proposal offering concessions on budget issues is designed to break the deadlock that is threatening Greece's future in the euro zone.

Tsipras, who was elected in January on promises to end austerity, made it clear he was willing to give ground but with strings attached that German Chancellor Angela Merkel is unlikely to accept.

"If we have a sustainable solution, regardless of how difficult the compromise is, we will bear the burden because the only criteria are exiting the crisis and the bailouts," a government official quoted Tsipras as telling the ministers on Friday night before they headed to Brussels.

Tsipras used the term "sustainable solution" to refer to a long-standing demand for large parts of Greece's mountainous debts to be written off or rescheduled - something he believes is vital if the Greek economy is to start getting back on its feet after a six-year depression.

Much of that debt is owed to Germany, the biggest contributor to Greece's 240 billion euro bailouts. Any acceptance by Merkel that the money might never be paid back would almost certainly create uproar among the country's politicians and taxpayers.

EU officials question Greek assertions that the debt is asphyxiating the economy. The government's immediate problems are with repaying loans from the IMF and European Central Bank while privately held debt is relatively modest following a major write-down in 2012.

The bulk of the debt is European bailout loans but Athens does not have to start repaying these until 2023. The debt is accruing interest, meaning that it will grow over the next eight years, but the annual rate is below what Italy pays and in any case the interest payments also begin only in 2023.

Read More Commentary: Greece has two options: A deal or chaos
Nevertheless, Tsipras appears to be seeking a gesture on debt from Europe that will allow him to sell a harsh deal to his radical left Syriza party and Greek voters.

Tsipras signalled that without debt relief, he would reject any deal involving curbs on the right of Greek workers to bargain collectively on pay - something that union members elsewhere take for granted.

"If Europe desires the split and the continuation of subjugation, we will make the big decision to say 'no' and fight the battle for the dignity of the people and our national sovereignty," he said.

Psychological pressure

Government spokesman Gabriel Sakellaridis gave more details on the negotiating stand, such as on the primary surplus - a budget balance that excludes debt repayments - and the creditors' demands for yet more of the austerity that has already radically reduced Greeks' living standards.

"The government seeks a solution which will include a debt relief, low primary surpluses, no wage and pension cuts, an investment package and restarting the economy," he told Agora newspaper.

"Debt relief is not an ideological obsession or a symbolic move, but a necessary condition to relieve people and jumpstart the economy," he added.

The Greek delegation, led by the deputy prime minister and chief negotiator, met European Commission and ECB officials in Brussels for low-key talks late on Saturday afternoon.

On Friday, EU officials said representatives of euro zone member states had formally discussed a series of scenarios, including for the first time one which involved a possible Greek default on the repayment to the IMF due by the end of June.

Athens, which attended a meeting of the official-level Euro Working Group on Thursday, has denied that any such scenario had come up.

Defaulting on a repayment to the IMF, the global lender of last resort, would have profound consequences. The ECB would probably have to halt emergency lending that supports Greek banks, which have suffered huge withdrawals by anxious savers.

Athens would then probably have to impose capital controls on deposit withdrawals and payments abroad in a series of events that would put Greece's future in the euro in grave danger.

But Sakellaridis dismissed such a scenario. "The Greek banking system is steady and solvent, which is being proven every day. Any other theories are just part of the negotiation, a form of (mainly psychological) pressure."

Finance Minister Yanis Varoufakis proposed a debt swap involving the ESM, Europe's bailout mechanism, to help Athens meet a further 6.7 billion euros that it must repay to the ECB in July and August.

Varoufakis played down any possibility of Greece being forced out of the euro. "It is also possible that a comet will hit planet Earth," he told BBC radio. "(But) I don't believe that any sensible European bureaucrat or politician will go down that road."

Asked if the EU and IMF were bluffing, he said: "I hope they are."

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Thunderhawk  » June 15th, 2015, 9:08 am  Backdoc Alert

German vice-chancellor warns Athens that patience running thin

Patience with Greece is wearing thin, Germany's vice-chancellor has said, in a blunt warning to Athens that addressed the possibility the country could even leave the euro zone.

The comments in a newspaper from Sigmar Gabriel, head of the Social Democrats (SPD), who have generally been sympathetic to Greece, shows a hardening of attitudes towards Athens across the political spectrum in euro zone paymaster Germany.

Writing in newspaper Bild, Gabriel said: "We want to help Greece and also keep them in the euro. But not only is time running out but so too is patience across Europe. Everywhere in Europe, the sentiment is growing that enough is enough."

"The shadow of an exit of Greece from the euro zone takes on ever clearer shape," he wrote.

"Repeated apparently final attempts to reach a deal are starting to make the whole process look ridiculous. There is an ever greater number of people who feel as if the Greek government is giving them the run-around."

The remarks from Gabriel, who leads Chancellor Angela Merkel's junior coalition partner and who is also the country's economy minister, represent the strongest warning yet from the Social Democrats.

So far, resistance to a new bailout for Greece has come mainly from Merkel's Christian Democrat conservatives.

While some of these lawmakers in the German parliament voted against an extension of Greece's second rescue program earlier this year, no Social Democrat did.

"If agreement is not reached quickly, the patience of many in Europe could snap," Gabriel wrote. "We won't let German workers and their families pay for the exaggerated election promises of a partly communist government."

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thunderhawk  » June 15th, 2015, 9:12 am .Backdoc Alert

EU Commission says Greek proposal no good, euro ministers to decide
BRUSSELS

Last ditch talks between Greece and the institutions representing its creditors did not succeed in a deal on Sunday, leaving the final decision on whether the country is going to default to euro zone finance ministers, the European Commission said on Sunday.

Greece is in last-ditch talks with its international creditors on what reforms it is to implement to get new funding from the creditors to avoid bankruptcy.

"President Juncker made a last attempt this week-end to find, via personal representatives and in close liaison with Commission, ECB and IMF experts, a solution with Prime Minister Tsipras that would allow for a positive assessment in time for the Eurogroup on Thursday 18 June," the Commission said.

"While some progress was made, the talks did not succeed as there remains a significant gap between the plans of the Greek authorities and the joint requirements of Commission, ECB and IMF in the order of 0.5-1 percentage of GDP, or the equivalent of up to 2 billion of permanent fiscal measures on an annual basis," it said in a statement.

"In addition, the Greek proposals remain incomplete. On this basis, further discussion will now have to take place in the Eurogroup," it said referring to a meeting of euro zone finance ministers on June 18th in Luxembourg.

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