After five months of melodramatic debt negotiations, it turns the Troika fiat money lenders are better poker players than the current Syriza government in Greece. It decided to bite the bullet, i.e. a six month supply of paper money in exchange of a sizable pension funds and an increase in VAT collections.
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Greek Bank Wipes Out Poorest Customers' Debt
In a rare move for the industry, one of the biggest banks in Greece decided to forgive the debts of its low income customers. On the other hand, Yanis Varoufkis has been replaced as debt negotiator for failing to produce results in the last three months of talks with the Troika.
The Tsipras government realizes that the proud members of the Troika negotiating panel couldn’t stand Varoufakis’s tendency to lecture them about a more slave-friendly debt policies anymore.
Continue reading Greek Bank Wipes Out Poorest Customers' Debt