SLAM! Greek Debt Committee Just Declared All Debt To The IMF, the European Central Bank (ECB) and various 'Troika' Banks "Illegal, Illegitimate, And Odious"

SLAM! Greek Debt Committee Just Declared All Debt To The IMF, the European Central Bank (ECB) and various 'Troika' Banks "Illegal, Illegitimate, And Odious" - WILL NOT PAY ( zerohedge.com )

submitted 2015-06-17T20:44 by RH

10 comments

QuestionEverything 2015-06-18T13:31

Good. The IMF is EVIL. Greeks would have been forced to cut education, pension and hospital budgets: BEFORE THEY COULD TOUCH THE MILITARY BUDGET. It's terms of their repayment. The greeks asked to divert military spending to service the debt, IMF said NO.

Either keep Greece a Democracy or sell out to the IMF and capitulate to international Bankers?

https://www.youtube.com/watch?v=QkWS9PiXekE

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cuivie 2015-06-18T11:25

I'm so curious as to what will happen when Greece faces bankruptcy (soon). I believe it will be the beginning of the end of the Euro and possibly even the Europen Union - time will tell.

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Empire_of_the_mind 2015-06-19T02:34

Yes. Expect Italy to bail on the euro next.

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cuivie 2015-06-19T08:43

There's probably gonna be a referendum on whether to leave the Euro or not in the next few years. Vox populi vox Dei. The situation in Italy is actually currently very interesting because of the new M5S party which in my opinion is quite revolutionary on so many levels. (For example they return half of the money they earn (13.111.265,99€ so far) - no other party worldwide does this AFAIK)

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Empire_of_the_mind 2015-06-19T20:13

one thing unique about Italy in the eurozone is that most of its debt is owned internally - this changes the equation for them fiscally. Italy doesn't need the Euro as much as most members do and as you've noted they've got strong representation in the government against it. They won't be the catalyst to destroy the Euro but if Greece is ixnayed it undercuts the entire premise of the Euro, making their departure very reasonable.

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gosso920 2015-06-18T07:20

Greek Debt Committee to IMF: "We're gonna party like it's 1929."

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KrustyKrackers 2015-06-18T05:42

They're asking for money they already spent. Fuck them.

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voodootattoo 2015-06-18T01:04

GO GREECE!!!!

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voatergoater 2015-06-17T21:15

From the report - "People’s dignity is worth more than illegal, illegitimate, odious and unsustainable debt"

Go Greece!

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RH 2015-06-17T20:44

Odious debt

From Wikipedia, the free encyclopedia

In international law, odious debt, also known as illegitimate debt, is a legal theory that holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, should not be enforceable. Such debts are, thus, considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion.[1]

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