GREECE BREAKING…..Chaos in Eurozone as Athens rejects EC Commissioner’s rejection

ANTIPOVADEFIEDAt last – the Finger!

With a week to go before Independence Day, as Greek interior minister Voutsis ruled during today’s Parliamentary bunfight, the new Poverty Relief Bill “doesn’t violate the agreement” signed with the Eurogroupe, and so it will pass into Law.

But both Channel 4’s Paul Mason Greek site News 247 declare that Declan Costello specifically confirmed this evening that the Bill(s) vetoed were to do with tax arrears instalment relief and other humanitarian aid.

The situation is currently extremely confused, and several of us are trying to work out what amendments have been added/changed, what consequences Costella is threatening, and which of the total legislation since March 3rd he has ruled out.The translated 247 piece nevertheless expressly quotes the EC as follows:

‘Commissioner Declan Costello orders the Greek government to stop the bill from being enacted in the Greek parliament’

Indeed, it’s not even certain that the Bill currently vetoed by the EC Commissioner is to be put to the vote at 12 noon tomorrow on schedule: tomorrow was still being mentioned in the debate a few minutes (21.30 CET) ago but this could be delayed since 84 MPs are still due to speak, and so far only two have been heard.

Earlier at The Slog: Schäuble goes quietly about his spiteful ice-pick business.

16 thoughts on “GREECE BREAKING…..Chaos in Eurozone as Athens rejects EC Commissioner’s rejection

  1. He can ‘order’ a sovereign nation not to pass a law? More worrying is the concept that an ‘anti-poverty’ law is at odds with what the EU stands for.


  2. And to think, I’ll be in Athens on Independence Day next week!
    What a time to go Greek Island hopping.

    I think I’ll take a crash helmet with me.
    It’s going to be a riot – literally.

    Will I need $ or € ???
    Who the hell knows.


  3. @Gary, any country that has signed up to the European Union and the Euro has by definition surrendered its sovereignty. Worse for the Greeks is that thanks to their Ouzo economy, they are beholding to outsiders. Syriza knew that they could not do anything without exiting at least the Euro and potentially being ejected from the Union but tried to pretend that it could default within the Euro or at least bluff seriously so as to bring the other parties around to their way of thinking.
    Unfortunately, they did not seek a mandate to exit the Euro as part of their platform and so lacked the ability to bluff seriously. Their bluff has been called and we are now left to see how this plays out.
    It could be that Draghi’s QE is an attempt to anesthetize the bond and stock markets so that they do not convulse if by chance Greece is pushed to exit the Euro. With 10 year German bunds at 20 basis points above zero and even Spanish 10 years at a mealy 1.6% , it looks like the QE anesthesia is certainly having an effect.


  4. Pingback: John Ward – Greece Breaking,..Chaos In Eurozone As Athens Rejects EC Commissioner’s Rejection – 18 March 2015 | Lucas 2012 Infos

  5. Harold,
    Unless I’ve misunderstood what I’ve been reading, Greece cannot be thrown out of the Union (once you’re in, you’re in) but they it can choose whether to leave of its own accord.



  6. And ‘the finger’ will achieve absolutely nothing, except run Greece further into the ground. Yes, another handout or concession might tide Greece over in the short-term but until Greece charts its own economic course and stops expecting handouts from other countries, it will continue to go down the pan. Tsipras and Varoufakis are charlatans, preying on the gullible and desperate.


  7. Tom, Tsipras and Varoufakis might be tilting at rather large and substatnial windmills, but they are cetainly not charlatans. They see that Greece is being ruined by the conditions set upon them, and, worse yet, with no hope things will get better. Faced with little to lose, they acted in ways outside normal conventions. I am reminded of Dr. Hunter Thompson’s wise wordsw. “I hate to advocate drugs, alcohol, violence or insanity to anyone, but they’ve laways worked for me.”


  8. Pingback: John Ward – UK Election Analysis : Labour May Not Realise It, But The EU Secession Issue Is More Likely To Lose Them The Election Than The Conservatives – 19 March 2015 | Lucas 2012 Infos

  9. Pingback: Greece Defies EC Veto of Anti-Poverty Legislation |

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