Loans and Finance

Loans and Finance


News and information about loans, money, debt, finance and business issues.
Powered by

Tuesday, March 10, 2015

Greece Welcomes The Troika

As per Bloomberg, Varoufakis is quoted:
"The troika is a cabal of technocrats that used to arrive in Athens and enter the ministries with a kind of power play that smacked of a colonial attitude.

That practice is finished. We shall endeavor to do whatever it takes to provide the institutions with whatever information they need.” 
However, there is a vast gulf between Greece's posturing to the media and reality as Bloomberg notes:
"It’s impossible for Greece’s creditors to adequately audit the government’s accounts without sending officials to Athens, a troika official said. The government would need to fly hundreds of Greek officials to Brussels for the work to be done there, he added.

As Draghi pressed Varoufakis to accept the return of the troika officials, the minister said that the idea that Greece was opposed to such a move was a misunderstanding, according to one of the officials with direct knowledge of the exchange. 

Can they start soon? Draghi asked. 

Varoufakis agreed. 


And the deal was done."
Thus the Troika/cabal will return!

No comments:

Post a Comment