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Greek Debt Crisis Update - by Illuminati Silver

3,128 views · Published 13 July 2015 · 5:02 · Indexed 3 October 2026

Channel: The 2% Brief · 2015 · People & Blogs

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Today is Monday 13th July 2015 and we are issuing this short video to update you on the Greek Debt Crisis.

A deal has at last been reached after 17 hours of negotiation between Greece and its European Creditors which solves the debt crisis, at least for now, and keeps Greece in the Eurozone. 

However, the terms, the Greek Prime Minister Alexis Tsipras signed up to will make him unpopular with his own Parliament. At this stage the agreement is a Memorandum of Understanding and therefore not binding. Once the Greek parliament gives its assent, the National Parliaments for the countries in the Euro-Group must also agree. So the deal is not finalised yet.

So what are the details:
There are a number of activities which have to be carried out by 15th July and 22nd July.
Without being too technical they involve the streamlining and expansion of the Greek VAT system to raise more revenue and a comprehensive pension reform programme has also to be introduced.

The key headline will be the creation of a privatisation programme aimed at raising EUR 50bn of which EUR 25 billion is to be used for the repayment of the recapitalisation of banks, 25% for decreasing the debt to GDP ratio and 25% for investments. It is envisaged that the Electricity Supply, Ports and Airports will be privatised first.

Our view is that this agreement will eventually be accepted – though no-one will be happy with the arrangement, but it has become apparent that the Greek people did not have the stomach for leaving the EU – which may have become its fate if no agreement had been reached. There will no-doubt be more revelations during the coming days, but for now the core of the Greek crisis has calmed down.

However, one should keep an eye on China, as we believe this will have a greater impact than Greece ever could, though once again, despite its stock-market turmoil, we do not  see China facing the abyss – well not quite yet anyway.

So what, you may ask, will be the impact on precious metals and especially silver? Well we have not changed our downward forecast. At the time of producing this video, gold has fallen by $11 and silver by 24 cents an oz.

We re-iterate what we said last time, do not underestimate the ability of Governments to hold this whole edifice together for much longer than many pundits believe possible. Do not be panicked into buying gold and silver in large quantities based on hysteria and the ‘pumpers and dumpers’ shouting “Economic Crash” from the roof-tops. There is time to slowly accumulate both of these metals on a reasonable and sensible basis.

We hope you have found this short video helpful and informative, and would appreciate it if you would give us a thumb up or down, comment and if you haven't already done so subscribe.

Our other videos include:

First Video - Illuminati Silver - Silver prices are going to fall further:
https://www.youtube.com/watch?v=cTvnJhngeDw

World Silver Report 2015:
https://youtu.be/nGujzlP4u0I

Silver prices to fall - Summer 2015:
https://www.youtube.com/watch?v=BdwnugbWma0

Illuminati Silver - advice to New Gold and Silver Stackers:
https://www.youtube.com/watch?v=OTjGk4efxnM

The Truth about Costs of production and Most Silver Miners are not going Bust
http://youtu.be/Q_BNCyZ9LOw

Greece Crisis or Grexit? - No need to panic.
https://youtu.be/dzS4065KWSo

US Mint runs out of Silver Eagles - Don't panic nor be Conned
http://youtu.be/8PkZg3vG_dc

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