Chris Puplava: Greece is beginning to dominate global news once again as the newly elected party, Syriza, is trying to renegotiate the country’s debt with its creditors, mainly the ECB. Both sides appear to be playing chicken which is creating uncertainty in financial markets with both Europe and U.S. markets recently stalling. Read more…
Michael Snyder: This is the month when the future of the eurozone will be decided. This week, Greek leaders will meet with European officials to discuss what comes next for Greece. The new prime minister of Greece, Alexis Tsipras, has already stated that he will not accept an extension of the current bailout. Officials from other eurozone countries have already said that they expect Greece to Read more…
Despite last year’s 110 billion euro Greece bailout — from the European Union, the International Monetary Fund, and the European Central Bank — there remains serious concern that the periphery EU nation will be unable to continue its debt repayments. Due to the increasing severity of the problem, and the ongoing resistance to additional support, the Central Intelligence Agency has now issued a report warning on how worsening Greek unrest could bring rise to even a military coup.
According to Turkey’s Daily News & Economic Review:
“According to he CIA report, ongoing street protests in crisis-hit Greece could turn into escalated violence and a rebellion and the Greek government could lose control, said Bild. The newspaper said the CIA report talks of a possible military coup if the situation becomes more serious and uncontrolled.
“Greece is under immense pressure owing to public debt that has swollen to 340 billion euros. The EU, IMF and European Central Bank are pressing Greece to step up a privatization program and get all political parties to approve more austerity and reform measures that have sparked violent protests, but emergency talks called by the president on Friday failed to make any headway, AFP reported.
“Opposition parties have mostly refused to support the government in its quest to cut spending by trimming an overblown civil service and the sweeping privatization drive announced this week has attracted even stronger protests.”
A number of European Union countries including Germany, Finland, and the Netherlands have lost already lost interest in and support for extending any further bailout funds to Greece as its austerity measures continue to flounder. You can read more details in the Daily News & Economic Review’s coverage of the recent CIA report on how a military coup is possible in Greece.
CIA Now Thinks Greece Military Coup Possible originally appeared in the Daily Reckoning. The Daily Reckoning provides over half a million subscribers with literary economic perspective, global market analysis, and contrarian investment ideas.
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CIA Now Thinks Greece Military Coup Possible
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