Greece grants relief to its poorest; Troika is furious


Syriza Party leader Alexis Tsipras lead his party to victory in Greece two years ago on a promise to end the austerity imposed on his nation by the financial oligarchs of the Troika — the International Monetary Fund, the European Central Bank, and the European Commission.

Their reign had deepened the nation’s staggering unemployment, forced massive pay, healthcare and benefits reductions, raised taxes, and forced the selloff of many of the nation’s resources and infrastructure to foreign investors.

But as prime minister he failed to deliver, delivering his nation over to yet more rounds of austerity and sending his party plunging in popularity.

But now his government has offered a modest measure of relief to those most deeply affected by the diktat of the Troika, and the oligarch are furious.

To Vima reports on the relief measure:

The Prime Minister Alexis Tsipras announced on Thursday evening that 617 million euros will be distributed to 1.6 million low income pensioners, while the scheduled VAT hike on the islands of the north Aegean Sea – which are bearing the brunt of the refugee crisis – will be suspended. As he explained in his statements, these actions were possible thanks to exceeding the primary surplus targets.

“It has been the government’s pledge to redistribute every euro of surplus from available sources to our weaker citizens. Today, staying true to this pledge, we decide the immediate redistribution of the outperformance of 2016 revenues to low-income pensioners” the Prime Minister explained in his televised proclamation via ERT. Pensioners on less than 850 euros will receive the benefit, which will be at least 300 euros.

Specifically 10% of pensioners (about 270,000) will receive 500 to 850 euros, 20% (about 570,000) will receive 300 to 500 euros and 30% (about 750,000) will receive 300 euros. These benefits will be paid out along with January’s pensions, which are due on the 22nd of December. The Prime Minister added that these benefits are 4.7 times more than the EKAS benefit that was suspended in 2016.

Regarding the planned VAT [Troika-mandated sales tax] hike, the PM stressed that it will be implemented “but though when our fellow citizens are bearing the weight of the whole of Europe due to the refugee crisis. It is time that Europe recognized this”, the PM explained.

And the reaction, as expected

From a second To Vima story:

The Greek Prime Minister’s decision to distribute 617 million euros among pensioners, while the second bailout review has yet to conclude, appears to have ‘surprised’ Brussels.

A European officer noted that the EU had not been informed and estimated that they will make the negotiations between Europe and the IMF for the surplus targets of 2018 and beyond harder.

Sources from the European Commission also reported that it appears that there will be serious difficulties in the implementation of the recent Eurogroup decision.

So reducing Greece to the status of a Third World nation isn’t enough.

In a reverse Oliver Twist ploy, the Troika is demanding, “Please, sir, can I have some more.”

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