When it comes to geopolitics, there are often wheels working within wheels that are working within wheels.
Once in a while we get a peek behind the scenes, but for the most part the machinations of the global elite remain shrouded in mystery most of the time. And sometimes the global elite appear to be doing things that, on the surface, do not seem to make much sense at all.
What is going on in Europe is a perfect example of this.
If everyone was negotiating honestly, I believe that a Greek debt deal would have been reached by now. As this endless crisis has stretched on month after month, it has become increasingly apparent that more is going on here than meets the eye.
In particular, the IMF has been standing in the way of a deal time after time.
When the latest Greek proposal was embraced with enthusiasm by EU officials, many hoped that this meant that the crisis would soon be resolved.
But it turns out that there is still one very important player that is not happy, and that is the IMF.
The following comes from the Wall Street Journal…
So what would make the IMF "happy"?
Would anything short of total capitulation by the Greek government suffice?
Meanwhile, members of Syriza are expressing a high level of frustration with the compromises that Greek Prime Minister Alexis Tsipras has already agreed to. At this point, there is even doubt whether the current Greek proposal could get through the Greek parliament.
The following comes from Bloomberg…
Despite all of the optimism that we have seen this week, the odds of a Greek debt deal getting pushed through are looking slimmer by the day.
And even if a deal somehow miraculously happens, all it would really mean is that the can has been kicked down the road for a few more months…
And no matter what happens by the end of this month, it is a virtual certainty that the economic depression in Greece will just continue to deepen.
At this point, normal economic activity in the nation has pretty much ground to a halt.
Just consider the following excerpt from a recent Zero Hedge article…
For a long time, I have been warning that the next major economic crisis would begin in Europe before spreading across the entire globe.
Greece has a relatively small economy, but Italy, Spain and France are going down the exact same road that Greece has gone. And what IMF officials are doing right now is that they are setting a precedent for future debt negotiations that they know are almost certainly coming with other countries in the future.
Sadly, most of my readers (being Americans) don't really grasp the importance of what is going on over in Europe.
We are watching a horrific train wreck unfold in slow-motion, and what is going to happen over the next few weeks is going to have massive implications for the entire planet...