Is New Labour a political virus - Labour Leadership Contest

BBC News: Reports that the CWU is supporting Jeremy Corbyn, the leader of the Union stated the following on New Labour " The union's general secretary Dave Ward said Mr Corbyn was the "antidote" to the "virus within the Labour Party". "

Lets Get Real:

Thus New Labour that got Labour elected three times in a general election is now seen as a virus by a trade union, in the past the left was seen as a threat to the stability of the Labour Party.   Those that want abc ( Any but Corbin ) have to find a unity candidate that the centre and the right can support.  If you are a Conservative you want Corbyn to WIN, then it assures that Labour will be in civil war and the 2020 election is in the bag, but if you think a Opposition Party is good then you want a leader that can be seen as a PM in the future.  It is time for Labour to grow up and fast.  

Corbyn ALL the WAY - Labour Leadership

The Daily Mail: Reports on private poll seen by the Daily Mirror, the article notes the following, " Mr Corbyn 42%, Yvette Cooper 22.6%, Mr Burnham 20% & Liz Kendall 14%...It indicates that, once second preferences are taken into account, the socialist will garner 51 per cent with Miss Cooper on 49 per cent.  "

Lets Get Real:

This is the best news this blogger has heard all day, the thought of Jeremy Corbyn makes this Conservative blogger smile.   The Labour Party would be OUT of power for generations if it does down this road.   Lets help them, all Conservatives should join the Labour Party and VOTE CORBYN, we could cancel the 2020 election and just take a 100 seats from the Labour Party.  It is a good time to be a Conservative. 

The PRICE of the Iran Nuclear Deal - Pollard Case

BBC News: Reports " An American jailed for 30 years for spying for Israel is to be freed in November after the US granted his parole, according to his lawyers. "

Lets Get Real:

Thus we NOW have the real price for the US getting Israel not to attack Iran after the nuclear deal, the release of a US traitor who gave information to Israel.   The Intelligence Community will not be happy, it will be seen for what it is, a BRIBE, the Oval must be praying that Israel does not attack Tehran with its new ally Saudi Arabia.   The US national security is paying a price for the Obama ego. 

The US, Turkey vs. The Kurds and Daesh

Telegraph: Reports " Turkey agrees anti-Isil 'safe zone' in Syria but accused of bombing Kurds..Announcement comes amid reports Turkey shelled a Kurdish-held village in northern Syria overnight, denied by Turkey  "

Lets Get Real:

The US should place US troops in the buffer zone within Syria, this could seen as the US protecting its ally Turkey, but also making sure that Turkey does not think its a free fire zone to target the Kurds.    The Obama obsession with a Iran deal has come through, thus its time for the Oval Office to deal with Daesh in Syria and Iraq.    The Western allies could use the buffer zone as away to place special forces in Syria, take the fight to IS and keep an eye on what the Syrians get up to, to check any use of WMD that Assad still has when the war reaches crisis point for his regime.    Of course the devil is in the details!

Buffer Zone in Syria - Daesh Threat

Guardian: Reports " Turkey agrees plan for 'Isis-free zone' along Syrian border...Landmark deal is diplomatic victory for Ankara, which has long demanded a safe haven in northern Syria as precondition to join fight against Isis "

Lets Get Real:

This is an excellent development, the US and Turkey can now have a grown up strategy to deal with IS, the worry is that Turkey will go after the Kurds for internal Turkish reasons.   The US should offer to guard the buffer zone, this should ease the worries of the Kurds and also allow the US to place ground troops IN Syria to fight IS.   This is going to be a long WAR, the above development allows for a full strategy to deal with Daesh in Syria and Iraq. 

Trump LEADS Republican Field in a new Poll

CNN - Politics: Reports " The new CNN/ORC Poll finds Trump at 18% support among Republicans, with former Florida governor Jeb Bush just behind at 15%, within the poll's margin of error. "

Lets Get Real:

It is early voter, no need to worry yet, one can see the ego of Trump fraying after months on the Campaign trail, and then there are the debates to go through.   The Republicans should choose either Governors Bush or Walker as their nominee, this blog favours Jeb Bush, he has been a Governor and has a family that he can fall back on in a crisis.   Thus watch the race its fun, the serious business starts later on in the year. 

Clinton email scandal is Criminal - Trump

Guardian: Reports " Donald Trump: Hillary Clinton's private email use was 'criminal'...Trump says Democratic prosecutors are ‘protecting’ former secretary of state...Republican candidate says he doesn’t see how Clinton ‘can run’  "

Lets Get Real:

The Clintons have to hand over their server to clear ALL this mess, the idea that the World should take the word of Hillary Clinton would be funny if it was not so serious.   The Trump is right, if this was anyone else the liberal media would be  ALL over it, just think Richard Nixon and how the press would have reacted if he had burned half his tapes, by stating that they were just personal stuff, it would be on the news 24/7.  On the other and this blog has made it clear if Trump gets the Republican nomination it will support HRC 24/7.    The world is to serious at this moment to help the Trump ego. 

The Clinton Email Scandal - Election 2016

CNN - Politics: Reports " The inspector general for the intelligence community has informed members of Congress that some material Hillary Clinton emailed from her private server contained classified information, but it was not identified that way. "

Lets Get Real:

This shows that Secretary Hillary Clinton is unfit to be the next President of the United States, one can assume that enemy powers will have tried to break the security of the server and might have had success, the Clinton Camp should have over the server to be checked to see how much classified information was sent and to see if it was hacked.   The Clintons will claim its a right wing attack, but that is not true, this mess is down to Hillary Clinton and her campaign team.    The Democrats need a new prospects to be their nominee. 

UK Soldier Dies of Afghan wounds - Afghan War

MOD: Reports " Lance Corporal Michael Campbell, from 3 Royal Welsh, died in Queen Elizabeth Hospital Birmingham on Thursday 23 July 2015 from wounds sustained in Afghanistan in April 2012.  "

Lets Get Real:

This should be the last soldier to die of his wounds sustained in Afghanistan, let our thoughts go to the family of Lance Corporal Campbell at this sad time.   As of 2001 the UK has lost 454 of its Armed Forces Personnel in Afghanistan, of that total it has lost 405 in combat action, while 49 have lost due to illness, accidents or other incidents. 

Turkey to allow US to strike Daesh from Turkey - Daesh Crisis

Telegraph: Reports " Ankara 'agrees to let US launch air strikes' against Islamic State from Turkey.. After months of negotiations and the recent attack by the extremist group on Turkish soil, US defence officials reportedly say Turkey will let it use its base at Incirlik to launch air raids "

Lets Get Real:

The US should now be able  to hit Daesh hard, the War on Daesh has gone off the news of late, the US needs to consider the sending of ground troops, that is the only way to bring down Daesh.   The US and the UK should use its special forces to undermine Daesh, the War in Syria is messy, you have Assad supported by Iran and Russia, then you have various Islamic groups, which includes Daesh, then you have the forces that are being developed by the West to fight Daesh, this is going very slow, its time to get going, the next US President will have to deal with the mess that Obama has left in the region, the Oval Office could help by rethinking its only air policy, it will not work and risks the shooting down of a pilot.  The Obama Administration has to take the War in Syria and Iraq and develop a good strategy, so far not great on that front.   Lets hope the above helps. 

Split in Labour - Labour Civil War

Guardian: Reports " Jeremy Corbyn win could cause SDP-style Labour split, says donor..John Mills, one of party’s biggest benefactors, says wealthy supporters could withdraw backing if leftwinger wins leadership election "

Lets Get Real:

One suspects that the Labour Party does not have a death wish, thus the poll that gave the election to Jeremy Corbyn should shock Labour voters to find a new candidate, they should should chose Liz Kendall, she is from the Blair wing of the Party, she understands that you do not win UK elections from the left.   Of course Labour might have a death wish, then Corbyn wins and you have a major split within the Party, you could see the right of the Party form an alliance with the Liberal Democrats to form a centre left Party.    The fun of the Labour civil war. 

Prescott vs. Tony Blair - Labour in Civil War

Daily Mail: Reports " Prezza tears into Blair's 'totally unacceptable' attack on Corbyn as Labour infighting over leadership intensifies "

Lets Get Real:

This is a FUN time if your a Conservative, the Labour Party is in full civil war mode, if you support Democracy on the other hand its a mess, the Country needs a Opposition Party to be read to govern, the present Labour crowd could not govern a tea party at a bar.   The Conservatives should use this time to ram through the tough welfare cuts that are needed and also make sure that the Upper House has a Conservative edge in members.   The Country voted for a Conservative government in the recent general election, time to give the voter what they wanted, also the Conservative government should attack Daesh in Syria.   The time to ACT is NOW. 

Kerry before the US Senate on Iran deal - Modern Munich 1938

BBC News: Reports " US Secretary of State John Kerry has defended a nuclear deal with Iran, calling it the "only viable option" for a peaceful resolution of the issue. "

Lets Get Real:

The US should have stood up to Iran, made it a simple deal, either they give up ALL their nuclear material and allow 24/7 inspection when UN wanted or face military action.   The Iran nuclear deal is a modern Munich 1938, it leaves our allies under threat from a powerful Iran. Shame on President Obama and Secretary Kerry.   The Obama Administration knows the Republicans do not have the votes to override a Presidential veto, well then the Republicans should make sure that the Democrats own the Iran nuclear deal, make any negatives results the responsibility of the Oval Office, make the Democrats pay a price in 2016. 

Iran still a THREAT to the US - Iran Nuclear Deal

Telegraph: Reports " Iran nuclear deal: Kerry 'disturbed' by Ayatollah's vow to defy US in Middle East..Ayatollah Khamenei, Iran's Supreme Leader, says "policy towards the arrogant US will not change" despite the nuclear agreement reached in Vienna "

Lets Get Real:

The Iran Regime is playing hardball while the Oval Office and the State Department are off in the Wonderful World of Obama, were the US is the bad actor and the rest of the World understands that is US actions that cause problems.   One would not be shocked that Iran goes nuclear before Obama leaves office in 2017.   The issue of Iran will play BIG in the US election in 2016, the Oval Office will be  held responsible for Iran's actions in the Middle East, they will have billions of frozen assets to use to undermine the US/Israel in the Middle East.  The Nuclear Deal Saga is not over by a long way. 

Call for HOSTAGES to be released by Iran - US

Guardian: Reports " Obama calls on Iran to release 'unjustly detained' Americans..President says US is ‘not going to relent’ until Iran releases Washington Post reporter Jason Rezaian, Pastor Saeed Abedini and former US marine Amir Hekmati "

Lets Get Real:

The time to get US hostages out of Iran's jails was during the nuclear talks, the Obama Administration wanted a nuclear deal at ANY cost, even the lives of US Citizens held by the Tehran Regime.   The Iran Government knows that the Oval Office does not care about its citizens, the final price for the nuclear deal should have been the release of those US hostages held in Iran.    The Tehran Regime has got what it wanted, the lifting of US and UN sanctions and the return of assets held by the UN.    The poor nuclear deal is not worth the paper it is written, as it gives the right for Tehran to go nuclear down the line.   Those that lost in the deal were America's moral authority and its people held in Iran. 

The White House on Trump - Election 2016

CNN - Politics: Reports " Donald Trump owes veterans an apology for suggesting American prisoners-of-war may not qualify as heroes, White House Press Secretary Josh Earnest said Monday. "

Lets Get Real:

The Republicans will pay a political cost if they allow Mr Trump to say these wrong headed remarks, the Party needs to Unite in opposition to Trump, the Democrats are the only winners in such a messy debate about War and what is a hero.   The Republicans need another Gipper or very close to him, this blog has argued that Jeb Bush is the ideal candidate to the be the Republican nominee, a conservative at the centre of US political thought.   One would wish Mr Trump would go back to being a TV host and a very, very rich builder of buildings with Trump on the outside.   Politics is not for someone who had never paid his dues in the political process. 

A family Divided - The Miliband Brothers Saga

Telegraph: Reports " Ed Miliband 'not invited' to brother David's 50th birthday party..

Former Labour leader spotted at the cricket during his brother's party after their rival leadership bids caused family tensions "

Lets Get Real:

In politics if you lose there is no forgiveness even from family, the only way that Ed Miliband could have made up with brother was to offer him a Cabinet position if he had won the election in May.   It is said that David Miliband was the best leader Labour never had, this could be true and we might never know for sure, of course Miliband senior could return to the House of Commons later on in the election cycle.   It would be ironic if David Miliband becomes Leader and then Prime Minister, if that happens Ed should not expect a call, something things you have to pay for in politics, stabbing your brother in the back is one of them. 

McCain vs. Trump, Who is a hero? - Vietnam War

Guardian: Reports on the Trump and McCain row, " McCain’s time in captivity merits respect, regardless of anyone’s feelings about the Vietnam war or McCain as a politician. The son of an admiral, McCain refused a proffered early release, knowing he would be in for even more torture. "

Lets Get Real:

Senator McCain is a war hero and if Mr Trump get anywhere the Republican nomination this blog will support Hillary Clinton for the Presidency, how any Republican can support Mr Trump is MAD, the Trump comments on McCain show that he is not fit to be President. This blog just wants another Gipper, is that asking to much of the Republican Party. 

UK Government Defends Syrian Position - Daesh Crisis

BBC News: Reports " Defence Secretary Michael Fallon has rejected claims MPs have been "kept in the dark" about the involvement of British pilots in airstrikes in Syria. "

Lets Get Real:

This blog could care less if the feelings of backbench MPs are hurt that they were not informed that British pilots joined their allies in attacks on Daesh, the threat from Daesh in Syria and Iraq is only growing, the West has to attack the threat from its source otherwise Daesh will become another Al Qaeda, the West does not want another 9/11 or 7/7 or recent attacks on Westerns on holiday in Tunisia.    Thus time for House of Commons to grow up and listen to the PM and his Cabinet. 

RAF Pilots strike IS in Syria - Daesh Crisis

BBC News: Reports " UK pilots embedded with coalition allies' forces have been conducting air strikes over Syria against the Islamic State group, it has emerged. "

Lets Get Real:

The UK government was sneaky to place our pilots with other Countries to get around Parliament, but it was for the right reason, the UK has to hit Daesh targets in Syria and Iraq.   The House of Commons should have a vote on this subject and revoke the bad decision they made before, the UK has to be a FULL partner with the US and other allies.  Lets  hope our pilots are safe and return to the UK. 

What does the US voter think of the Iran Deal - Iran Deal

CNN - Politics: Reports " Because President Obama has already pledged to veto any bill to block the deal GOP leaders would need to convince enough Democrats to join with them to override his veto -- a heavy lift. How the public views the deal will be critical, as Members of Congress will be back home for several weeks this summer before any vote. "

Lets Get Real:

The Republican supporting groups should start to pay for adverts in the seats of Democrats, just show old footage film from the 1930s with the picture of Neville Chamberlain morphing in to President Obama, Jewish groups who support Republicans should start to hit the emails, phones, web forums to get the point over that Obama is following the appeasement policy of Chamberlain and of his Foreign Secretary Lord Halifax in the 21st Century.   The Republicans will not win but the can make any Obama victory look hollow.   Winning and being right are not the same thing, history is against Obama, it will help Republican candidates in 2016. 

The Future of the Iran Nuclear Deal - Iran Deal

Telegraph: Reports " Israel and Saudi Arabia present united front over Iran deal "

Lets Get Real:

As stated by this blog and others, the Iran nuclear deal could be thrown out by the next US President if he or she is a Republican, one stroke of the pen and its over, or of course Israel with the combination of the Gulf States could take military action.   When your a US President you want a legacy that will last not one that will be finished on 20th January 2017 at 12.01pm.   The Oval Office has a year and half to go, a lot of things can go wrong, if nothing else the Syrian mess shows that Obama can not read the future, and the growth of Daesh in Syria and and Iraq has shown that Obama has not the stomach for total war.   Richard Nixon once said when the US does not show its power the enemies will play, this is just such a case.    Obama has learned nothing and can never, he can never get over his own hubris. 

The reality of a NO vote by Congress - Iran Deal

Guardian: Reports on the real impact of a symbolic no vote by Congress, " While a vote of disapproval – based on anything less than a two-thirds majority in the House and Senate – would not kill the deal, it would undermine it politically, raising difficult questions about the longevity of Washington’s commitment to an accord intended to last at least 15 years...Such a result would also embolden Republican contenders for the White House, such as Florida senator Marco Rubio and Wisconsin governor Scott Walker, who are making bold pledges about their reimposing sanctions to unwind the deal if they are elected. "

Lets Get Real:

That is the flaw in the Obama governing strategy, this blog support a strong Presidency, but when Obama leaves office in 2017 the could hand over to a Republican who with a stroke of a pen could throw the Obama legacy out of the window on the first day.   Also Obama does not control Israel and the Gulf States, they could form an un-official partnership to take out the Tehran nuclear plants and other buildings and Obama will not be able to do a dam thing about it,  in less Obama is 100% sure of a Democratic President, he playing with history, and history can bite back, Churchill guided the UK to victory in World War 2, but was thrown out of office in 1945, and Winston Churchill was great, Obama is up his own hubris. 

The FAILURE to UNDERSTAND the Cold War - Obama and Iran

BBC News: Reports " Critics of the nuclear agreement with Iran are at odds with "99% of the world and the majority of nuclear experts", US President Barack Obama has said. "

Lets Get Real:

It is nice to know that President Obama understands what I think and the other 98% of the World.  The Oval Office is full of it, that being hubris, he makes Neville Chamberlain look sane and on the money.   The President fails to understand that Reagan placed the USSR in the bin, he bankrupted the Soviet Communists, he talked yes but kept the shoe on the neck of the USSR through defence spending and keeping them on their toes in Afghanistan.    Hubris or a Messiah complex streams from the Oval, the President should recall that the next President might be a Republican, and thus can take powers of the Presidency to remove the disaster of ObamaCare and the Iran deal, Democrats should remember that when they vote on the deal. 

Obama on Iran Deal - Historical Record

Lets Get Real:

On this issue lets see if the President is right, does hope overcome history, does Obama failures at the domestic front mean that by extension he is a failure on the international front.   There are so many things outside the control of the Oval Office, will Israel and Saudi Arabia take action if they think that the Iran nuclear deal is a farce, do Democrats on the whole want their names attached to this deal.  Lets recall that Neville Chamberlain was seen as a guilty man of the 1930s with his policy of appeasement,  Is that the fate of Obama and Kerry, only time will tell and the future is out there. 

The US and Iran Talks - Iran Crisis

Telegraph: Reports " John Kerry 'prepared to walk away' from negotiations...John Kerry says major world powers will not "rush" into a nuclear deal with Iran, adding he was “absolutely prepared” to walk away  "

Lets Get Real:

The Tehran Regime can smell that the Obama Oval is weak, the Obama Administration wants a deal at any cost, otherwise the Obama Administration will look weak and out of touch with reality.   The State Department does not want another Munich, it does not want to be shown up as fools in a rush to get a deal.   The Russians due to Ukraine sanctions are playing games, they are pushing to arm Iran, while also wanting it seems a non nuclear Iran. One has to assume that Putin is pushing Tehran to be tough, the Russians are looking to undermine Obama and the US in Europe and the Middle East.    Thus further talks leading nowhere. 

The Greeks Fold - Greek Crisis

Guardian: Reports " The Greek government capitulated on Thursday to demands from its creditors for severe austerity measures in return for a modest debt write-off, raising hopes that a rescue deal could be signed at an emergency meeting of EU leaders on Sunday. "

Lets Get Real:

The Greek crisis is OVER, or seems to be over, how many will bet that Greece never does the real reforms, that the issue will be thrown in the long grass and Germany will take a modest hair cut and the Athens Government will give the PR of doing real reform.  Typical EU fudge and down the road there will be more printing of money and others with their hands out.  At least the PR of Greece is OVER, thank God. 

Greece Lates - Greek Crisis

BBC News - Greece Live: Reports in its 8.50pm post via the WSJ that Greece will give its plan to the EU within the hour. 

Lets Get Real:

The Stock Market is up, they must know something that the rest of us do not, one can assume that a deal is in the works between the EU and Greece.   Lets see how much pain Germany is willing to take with hair cuts to the debts that Germans banks hold of Greek debts.   In return for the cut in debts one can expect that on the PR side the Greeks will say they will do reforms, of course once the news cycle moves the Greeks will do bugger all and it will be to late for the EU to demand reforms.   The next countries with their hands out will be Spain and Italy. 

The Master Chancellor and the Budget - UK Budget

Telegraph - The Budget Live: Reports in its 3.56pm post the following on the Chancellor and his Budget, " In coalition, he brazenly lifted the Lib Dem plan to raise income tax thresholds.

Now, in his first all-Tory Budget, he’s nicked a Labour plan to tax non-doms more, which caused such a kerfuffle during the election campaign. More important, he's cheerily half-inched the living wage, and by doing to, discombobulated his two great opponents in politics: the Labour Party, and Boris Johnson. "

Lets Get Real:

Are we looking at the next PM, Chancellor Osborne produced a Budget that will make Conservatives happy, both on the domestic front and the international  front,  the Conservatives will become more seen as a Party of those that get up early and go to work, also makes sure that those on low wages have a living wage.   The Labour Party was ALL over the place, so was the BBC.   Thus good defeat of the left by the Chancellor. 

Greece Crisis - Greek Update

Guardian - Greek Crisis Live: Reports in its 1.54pm post the following,  " While the European Parliament debate was raging, Greece quietly submitted its formal request for a new aid package in an attempt to avoid crashing out of the eurozone.   Finance minister Euclid Tsakalotos has asked for a three-year programme, from the bailout fund (the European Stability Mechanism). And in return, Greece would commit to:“to a comprehensive set of reforms and measures to be implemented in the areas of fiscal sustainability, financial stability, and long-term economic growth.”  "

Lets Get Real:

This is a game, it really depends who has the upper hand in Europe, either France or Germany, the Greeks have promised reform before, and it never happens, the political system is corrupt, paying TAX is an extra option for the Greeks.   If the French push an agreement based on the above then the Euro is doomed, all the Greeks want is for the ECB to bring money.   They will never reform and the problem will come back with extra inflation, does anyone recall the Weimar Republic in Germany, if you print to much money the coinage itself is debased.   If the Euro is for the long term it has to have rules, that means juking the Greeks out, otherwise in the long term the Euro will fail. 

The Living Wage - UK Budget 2015

BBC News: Reports " The Living Wage, which starts at £7.20 next April and rises to £9 an hour by 2020, will be compulsory and replaces the minimum wage which is now £6.50.

The chancellor scrapped student grants, cut housing benefit for under-21s and froze working age benefits. " 

Lets Get Real:

The living wage policy was a shock for the Labour Party and one could tell the BBC was not ready for the Conservatives to steal the policy of Ed Miliband,  the Budget will be hard for the Labour Party to oppose, they stated in the General Election that they would take tough decisions, so which policy are Labour going to oppose, a living wage, higher tax threshold or the policy to spend more money on Defence as in line with NATO.   This is an excellent first Conservative Budget, it wrong foots the Labour Party and the left wing elite at the BBC, its a good policy and makes the Opposition look wrong and weak should they oppose the Budget. 

A Conservative Budget for the Nation - Budget Day

H M Treasury: Here are the main points of the Conservative Budget of 2015, " Introducing a new National Living Wage of over £9 an hour by 2020.   From April 2016, a new National Living Wage of £7.20 an hour for the over 25s will be introduced. This will rise to over £9 an hour by 2020.  The tax-free Personal Allowance will be increased from £10,600 in 2015-16 to £11,000 in April 2016 The tax-free Personal Allowance – the amount people earn before they have to start paying Income Tax – will increase to £11,000 in 2016-17.  Protecting defence spending.  The government will meet the NATO pledge to spend 2% of national income on defence every year of this decade.  Reforming the welfare system to make it more affordable.  The welfare system will be reformed to make it fairer for taxpayers who pay for it, while continuing to support the most vulnerable.   Taking the family home out of Inheritance Tax, The family home allowance will be added to the existing £325,000 Inheritance Tax threshold, meaning the total tax-free allowance for a surviving spouse or civil partner will be up to £1 million in 2020-21.   Ending permanent non-dom status, Permanent non-dom status will be abolished from April 2017. From that date, anyone who’s been resident in the UK for 15 of the past 20 years will be considered UK-domiciled for tax purposes.  "

Lets Get Real:

This what a REAL Consercative Budget looks like, fair for those in work and helping business to hire more people.   Those on living wage should be happy, it is wise to restrict it to those over 25, how much can those who have left school or college have really paid in to the system.   Lets see how Labour reacts, they living wage threw them and the BBC.  Good day to be a Conservative.

Are Greek Banks under THREAT - Greek Crisis

Guardian - Greek Live: Reports in its 7.16pm the following post on the ECB decision, " And the ECB has maintained the cap on emergency liquidity assistance (ELA) at €89bn, but crucially it has “adjusted” the haircuts it applies to the assets which Greek banks hand over in return for funds.    In simple terms, that probably means the ECB is treating Greek government bonds as riskier, and valuing them as such when it calculates how much liquidity it can provide.  "

Lets Get Real:

The European Central Bank, the lender of last resort can see Spain, Italy and others coming for money if they throw the rule book out to help Greece.    The value of Greek assents has to been in the context of a corrupt political structure, they have gone back on agreements, they play games, and so what is the worth Greek  collateral.  This blog would rather take collateral from the Assad Government in Syria and the Baghdad Government, yes this blog does not trust the Greeks.   The Greek crisis could become a cancer for the whole Euro, this would damage the UK economy, thus it would be better to cut off the damaged part, that is Greece and make sure that the rest of the Euro goes on. Tough outcomes are sometimes hard. 

NO MORE MONEY FROM THE ECB - Greek Crisis

ECB: Press release:  " ELA to Greek banks maintained

• Emergency liquidity assistance maintained at 26 June 2015 level
• Haircuts on collateral for ELA adjusted
• Governing Council closely monitoring situation in financial markets

The Governing Council of the European Central Bank decided today to maintain the provision of emergency liquidity assistance (ELA) to Greek banks at the level decided on 26 June 2015 after discussing a proposal from the Bank of Greece.

ELA can only be provided against sufficient collateral.

The financial situation of the Hellenic Republic has an impact on Greek banks since the collateral they use in ELA relies to a significant extent on government-linked assets.

In this context, the Governing Council decided today to adjust the haircuts on collateral accepted by the Bank of Greece for ELA.

The Governing Council is closely monitoring the situation in financial markets and the potential implications for the monetary policy stance and for the balance of risks to price stability in the euro area. The Governing Council is determined to use all the instruments available within its mandate.  "

Lets Get Real: 

BBC News - Greece Live: Reports in its 7.04pm post the following on the above, " The European Central Bank (ECB) will not be adjusting the amount of funding available to Greek banks.. "  In other words the Greek banks will need to get a new rich sugar daddy to keep them going, could this allow Russia to come to the support of the Greeks, that would make Putin even more of a threat to the EU and the West. 

Germany and Greece - Greece Crisis

Telegraph - Greek Crisis Live: Reports the following on the visit to Paris, France of Germany's Chancellor Merkel, " The German Chancellor is done with dinner and given a very short statement.   She says she awaits new reform plans from Mr Tsipras tomorrow, but says now is not the time to talk of new deals as government's are still reacting to last night's vote. "

Lets Get Real:

It is clear that Chancellor Merkel is not putting HER head on the line to save Greece at the expense of her own political future, that is the problem with any new call for a bailout of Greece, there are other leaders within Euro who will have to go back to their Parliaments to ask for more money for Greece, also there elections coming up in Spain, any relaxing of the Euro rules would mean that the extreme left could run on anti austerity message and get the Germans to pay the cost.   Thus expect tense days ahead, Germany is no push over, the Chancellor has to worry what her own Party might think if she tries to push another Greek bailout. 

Shares will tank tomorrow - Greek Crisis

Telegraph - Greek Crisis Live: Reports in its 8.10pm post the following, " Markets have remained reasonably sanguine about Grexit up until now. But expect tomorrow to be a day of flight for equity investors... "

Lets Get Real:

The first signs should be the Asia markets, it can be expected with the trouble with China markets to add to the pressure, the UK and US markets should see a sell off due to the Asian results and the latest news from the EU and Greece.   The Greeks are deluded if they think that their banks will be open on Tuesday, they will be lucky if they are opened at the end of the week.   As stated the final decision is down to the ECB, do they throw out their tough rules on lending or do they throw the rules out of the window.   The Germans might have problems with the French, the French left it can be argued has more in common with the Greek left than mainstream French politics.   Also the Countries that have done austerity will be asking why Greece is given a pass when they went through tough economic reform.   Interesting days ahead. 

Greek PM looks for political lifeboat - Greece Crisis

Guardian - Greek Crisis Live: Reports in its 8.10pm post the following, " Greek television are reporting that Alexis Tsipras has spoken with several European leaders, starting with the French president Francois Hollande.    There are also suggestions that ECB president Mario Draghi has also been contacted.  "

Lets Get Rea:

The Greek PM will try to split France from Germany, also Italy, the government in Paris is left wing, thus one can expect that the Greek PM will play that up, one doubt that Paris will go against the will of Germany, it knows who has the cash in that relationship.    The European Central Bank could decide the fate of Greece, if the Bank does not give more money to the Greek banks they will go bust, thus the call for the return of the Greeks to a native currency.   The EU/IMF will not allow themselves to be blackmailed by Athens, there are tough rules for the problem of Athens, if the above throw them out then Spain and Italy will be next, then the whole system would go bankrupt.  Time for the Germans to stand tough against Greece. 

The Result of the Greek Referendum - Greek Crisis

BBC News - Greece Live: Reports the following it its 7.25pm post, " The Greek government will have a battle on its hands to persuade the Eurogroup to meet urgently. Reuters reports there are no plans for an emergency meeting of eurozone finance ministers in response to the 'No' vote. "No way. (The ministers) would not know what to discuss."

It is worth remembering that Greece's prime minister called the vote while his negotiators were still trying to eke out a deal in Brussels. "

Lets Get Real:

The Greeks might find that the Referendum was the easy thing to get pass, the German political class and the voters do not want to to get their wallets out to bailout the Greeks, the Greeks have to be thrown out of the Euro, its a murky toilet with no clean water in sight.   The Greek economic system needs a total reform from the role of the State to when people retire.  This will be harsh on the Greek in the short term, but in the long run it will benefit Greece. 

The Greek Referendum Vote - Greek Crisis

The New York Times: Reports on PM Tsipras broadcast to the Greek Nation, " Mr. Tsipras went on public television Wednesday afternoon, telling Greeks that they should vote no on the referendum to improve his negotiating position. "

Lets Get Real:

The Greek PM is bonkers, if the Greek people vote NO on July 5th they are out of the Euro even the EU.   The Germans will not put up with any more BS from the Athens or its PM.   The Germans are fed up with the Greeks, if the Greeks are not insulting them, the have their hand out for more money.    It seems that the Greek government and half the population are not living in the REAL WORLD.    The Greeks have to understand that they are owned by the Germans, without German Euros the Greeks would be international beggars, and why should the German tax payer pay for the political promises of a left wing government in Greece.   It time for the Greeks to find their classical dignity before its to late, VOTE YES ON THE 5TH. 

Germany on Greece - Greek Crisis

Guardian: Reports " Berlin blasts Tsipras for 'seeking scapegoats outside own ranks'..Criticism of Greek prime minister reinforces view that Germany might refuse to negotiate with Syriza administration on rescue package until after referendum  "

Lets Get Real:

One does not blame the Germans, the German Chancellor faces going back to the German Parliament and asking for more money for Greece, while the leadership of Greece has been very abusive about Germany, bringing up the Second War War as a way to hammer the Germans.   The German tax payer can not pay the pills for the left wing government in Greece, if they start doing that there will be calls from other Countries for the Germans to pay for the political promises of left wing parties.   The Greeks have to learn a hard lesson,  the days of the generous welfare state is over, the Greeks have to work for every Euro, pensions have to be be limited, people will get hurt, that is a fact of life. Grow Up Greeks. 

The US and the Greek Crisis - Greek Update

BBC News - Greece Live: Reports in its 7.15pm post the following, " The White House believes all those involved in the Greek crisis want the country to stay in the eurozone, spokesman Josh Earnest tells reporters on Air Force One today  "

Lets Get Real:

There are two reasons the White House want the Greek crisis over, the first is that people will notice that the US with its debt is heading the way of Greece, and the bank manager that US has is China, the vary same Country that wants to expand in Asia, while the Obama Administrations turns it attention to Asia for economic development and for its defence posture,    The other reason is the worry of the unknowns, what if Greece falls apart, how will that touch other economic markets and how much of a hit will the West in the shape of the US take, thus real and political reasons for US when it comes to Greece.     The problem faced by the US is that no one takes Obama as a heavy hitter, he is seen as weak and deluded to be honest, thus what ever influence US had in Europe is gone due to President Obama. 

The Hillary Clinton Emails - The Clinton Server Scandal

The Daily Mail: Reports on the latest Hillary Clinton's emails to be released, the article notes the following, " Buried in the din of thousands of people devouring the emails Tuesday night, though, was something more ominous for Clinton insiders: news that the State Department had decided to treat some two dozen of the messages as 'classified' – ruling as lawyers vetted the material that some of it was too sensitive to expose publicly.  Clinton and her campaign surrogates insisted beginning in April that her private email server was never a national security risk and never housed classified documents.  "

Lets Get Real:

No wonder the Hillary Clinton Campaign has banned the Daily Mail reporter from the HRC campaign bus, the Clintons can not control ALL the press, they have a press that favours them, the elite liberal press will defend the Clintons no matter what, lets hope that other papers and new channels digs the dirt on the Clintons, they are tied to scandal, they know nothing else and will twist the law to fit their view of events.   It will be interesting to see how the media deals with the latest Clinton emails.   The long race for the White House has started, at least this blog can get off Greece for a while, US politics is more fun.   At present it looks like HRC will be the Democratic nominee, the rest are far behind and as stated the HRC campaign is being protected by the elite media.