Troikarchs put pressure on Greece, bailout halted

Following Greek Prime Minister Alexis Tspras’s announcement of holiday bonus for Greece’s poorest pensioners, hard hit by the Great Recession, the Troika has called a temporary halt to the nation’s bailout loan.

The Troika of the International Monetary Fund, European Central Bank, and European Commission had attached stringent austerity measures to the latest round of bailout loans, but Tsipras’s decision to help some of the nation’s neediest angered the Troika and the German government.

German arms dealers want the cash, even though their arms sales to the previous conservative Greek government helped fuel the crisis, a financial mess made worse by the greed of those Wall Street banksters who ignited the Great Recession.

From Kathimerini:

Eurozone finance ministers on Wednesday suspended debt relief measures for bailed out Greece in response to extra spending on pensions announced by Greek Prime Minister Alexis Tsipras.

“The institutions have concluded that the actions of the Greek government appear to not be in line with our agreements,” said a spokesman for Eurogroup chief Jeroen Dijsselbloem, the head of the Eurogroup that oversees Greece’s massive 86-billion euro bailout.

There is “no unanimity now for implementing short-term debt measures,” he added.

More from BBC News:

The Greek Prime Minister Alexis Tsipras has refused to back down over his plans to give poor Greek pensioners a pre-Christmas bonus.

A government official said Mr Tsipras would ask parliament on Thursday to approve the payment, worth €617m (£517m) in total.


The arrangement of 5 December included extending the maturity on certain loans to the Greek government, and locking in the interest rate on some of its debts in order to reduce the country’s repayment burden, but they did not alter the total amount owed.


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