The Greek Debt Deal Is Already Starting To Fall ApartThe deal that was designed to fail has already begun to unravel. The IMF, which was expected to provide a big chunk of the financing, has indicated that it may walk away from the deal unless Greece is granted extensive debt relief. This is something that the Germans and their allies have resolutely refused to do. The Germans appear to believe that they can push the Greeks out of the eurozone and that everything will be okay somehow. This is something that I wrote about extensively yesterday, and it turns out that a lot of other prominent voices agree with me. For example, just consider whatPaul Krugman of the New York Times had to say about this. I am kind of amazed that he finally got something right Even if all of that is true, this Eurogroup list of demands is madness. The trending hashtag ThisIsACoup is exactly right. This goes beyond harsh into pure vindictiveness, complete destruction of national sovereignty, and no hope of relief. It is, presumably, meant to be an offer Greece cant accept; but even so, its a grotesque betrayal of everything the European project was supposed to stand for. Greece desperately wants to stay in the euro, and they desperately want money from the rest of Europe to keep coming in. At this point, they will agree to just about anything to keep from getting booted out of the common currency. That is why the Germans and their allies had to make the deal so horrible. They were attempting to find some way to make things so harsh on the Greeks that they would finally choose to walk away. And to a certain extent it seems to be working. Even some members of Syriza are publicly declaring that they are going to vote against this package. The following comes fromthe Washington Post Yet he also took indirect aim at Tsipras, calling on the Greek prime minister to reverse himself and tear up the agreement, which he described as a violation of the partys ideals. Even if Tsipras can pass the deal in Parliament, as he is expected to do, Lafazanis vowed that the Greek people would annul it through their unity and struggle. Right now, the vote looks like it could be quite close. Even though Greek Prime Minister Alex Tsipras has publicly admitted that this is a deal that I do not believe in, he is really pushing hard to get the votes that he needs. In fact,according to Reuters he has been actively reaching out to opposition parties to secure votes But even if this deal gets through parliament, it is highly questionable whether Greece will actually be able to do what is being required of them. For instance, the 50 billion euro privatization fundseems to be something of a pipe dream On June 26 even the International Monetary Fund (IMF), one of Greeces creditors, raised eyebrows over the idea of raking in lots of money from privatisations. It stressed that the sale of public banking assets was supposed to raise tens of billions of euros but it was highly unlikely that these proceeds will materialise considering the high levels of nonperforming loans in the banking system. For the moment, though, lets assume that the Greek parliament agrees to these demands and that by some miracle the Greek government can find a way to do everything that is being required of them. And for the moment, lets assume that this deal is approved by both the German and Finnish parliaments. Even if everything else goes right, this deal can still be killedby the IMF In the three-page memo, sent to EU authorities at the weekend and obtained by FT, the IMF said the recent turmoil in the Greek economy would lead debt to peak at close to 200 percent of economic output over the next two years. At the start of the eurozone crisis, Athens debt stood at 127 percent. In order for the IMF to participate in this new Greek bailout, the IMF must deem Greek debt to be sustainable. And at this pointthat does not appear to be the case But the Germans made it very clear that there would be no bailout unless the IMF was involved. So what would satisfy the IMF? The IMF study seems to indicate that massive debt relief for Greece would be required. The following comes from Reuters Needless to say, those kinds of concessions are anathema to the Germans. There is no way that anything like that could ever get through the German parliament. But to be honest, the Germans never intended for this deal to be successful anyway. Just consider what German Finance Minister Wolfgang Schauble told reporterson Tuesday This is what Schauble and his allies have wanted all along. This entire deal was crafted with the intent of creating conditions under which Greece could be forced out of the euro. By this time tomorrow, we should know what the Greek parliament is going to do. However, that wont be the end of the story. One way or another, the Germans are going to get their wish. But once they do, I think that they will be quite surprised by the chaos that is unleashed. This article first appeared here at the Economic Collapse Blog. Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here. Perhaps Greece should exit the EU. Let the Greek banks collapse no bailouts with public funds. Change over to a sovereign finanance/banking system with interest-free money spent directly into the real economy by the Greek government which should stimulate job-creation. Give every man, woman and child a basic universal living wage and scrap all other welfare benefits, industry subsidies and tax rebates. This could further be funded by slimming down the public service sector and by taxing land holdings, with higher taxes on unproductive land (e.g. your second mansion), capital gains and importantly, financial transaction taxes as opposed to taxing income earned through work (the latter being tax-free!). In a little while, the Greek people would PROSPER and international investors would come knocking on Greeces door. Greece should ..get out of the EU.and do no Euro currencyand print their own currency with a conversion factor of relevance..do not pay back any lenders, at least at the moment..and that would allow the country to get a grip on its reality, and from which the people of Greece could resume life and if need be.nationalize the banksfor a time period.And You Know What? The Central Banking system of Europe might just take up notice that it can be and should be overthrown Hope the deal falls apart completely and quickly. Athens has been in dire straits before. The German Economic power structure is the U.S. of Europe and the U.S. is the Economic power structure of the Planet. German banks and corporate leaders will struggle to stay afloat for as long as they are able, then they will come to the U.S. for support. The U.S. will begrudgingly try to prop up the Planet and in the end, the Banksters and International Creditors will win out over us all. What bothers me is that ordinary people continue to see an Us vs.Them breakdown of the world, with countries pitted against one another. People do not realize we are all being extracted by the Banksters. It is Humans vs. Anti-Humans. What happened in Greece http://rhymeafterrhyme.net/greece-and-the-euro-and-why-we-must-say-no 