Much awaited, nothing happened… The waiver keeps waving form far away. President Mario Draghi said today that the European Central Bank board of directors did not switch green light ON in order to accept Greek bonds as collateral. At a press conference in Vienna, Draghi said:
“Once the prior actions are taken, the ECB will take a decision on the restatement of the waiver.”
We all hope that Draghi means once the program Review concludes and not once prior actions are implemented.
According to some Greek media, the next decision is expected on June 22nd.
Mario Draghi said other nice things like: Structural Reforms are needed in all €uro countries.
After six years of crisis, we all know that when somebody says “structural reforms” means “bitter austerity” and “dumping wages” whether with or without bailout.
Look at France! BTW Prime Minister Michel Valls arrived in Athens in the afternoon for an official two-day visit.
From the other side of the Atlantic, IMF’s economist Obstfeld said:
“it is important always to consider the most vulnerable when planning fiscal adjustment.”
I hear millions of Greeks bursting into laughter. Or into tears…
Oh wait! Obstfeld also said this:
@lenaargiri 2h
Obstfeld:there are limits to the pain economies can or should sustain, we recommend debt re-profiling/reduction in the case of Greece
Is the IMF indeed chaging its neo-liberal policies? I don;t believe it until I see it turn into reality.
Otherwise, I understand only lip service with the IMF playing the good cop and Schaeuble the bad cop.
An 8 year comedy continues.
One day all these people – Dradhi, Lagarde, Commission etc – will be behind bars for breaking the law and their own institutional mandates.
I am not so optimistic. They are systematically destroying the rule of law, to ensure that there will be no repercussions.