The thing that really annoys me about all this elitist bull where the media constantly reports about vague snippets about “proposals” and “negotiations” and “give and take” with absolutely no specifics about what is being negotiated is..well, just that. We have no idea what the politicos are really talking about behind closed doors, and nothing is clear.
Greece made a proposal. What’s in it? How is it different from past agreements? What are the hard numbers? What are the objections? What the hell is going on? Nobody can give a clear answer. Only talk in vague generalities about “concessions” and “compromise” but never about what!
So Greece made some kind of deal with Germany. What was it? The only place that tells you anything even meager is Zerohedge, and you never know when the guys over there are being totally crazy or they have real info. So, here’s what they’re reporting.
Greece is demanding that private residences in mortgage default be protected from foreclosure, which will of course clog and paralyze the banking system. Also a gradual raise of minimum wage, which will clog and paralyze the labor market. As well as restoration of collective bargaining rights for unions, which will constrict the labor supply and increase unemployment. As well as wage hikes for the bureaucrat sector. Which will increase the debt load that Germany is paying for.
And Germany, apparently, is going to say nein, according to Zerohedge, tonight.
Let’s see what happens.