Tuesday, July 14, 2015

The Media Lie About Everything

Quick test.

As of July 14, 4 PM Eastern time, is there a "done deal" bailout for Greece?
Is there a done deal with Iran?

The answer to both questions is no.

Greece has an offer on the table, but it's not finalized until the parliament agrees to the terms on Wednesday.

Greece debt crisis: Tsipras faces eurozone deal battle
With the deal done, Greece is now racing to meet its first deadline: to pass four pieces of legislation by the end of Wednesday.

But the cracks are emerging in Alexis Tsipras' coalition.

Away from parliament, Mr Tsipras will also struggle to sell this deal to his own voters, with strike action already called.
Greek voters rejected a better deal last week.

As for Iran.
The Republican-controlled Congress has 60 days to review the accord, but if it votes to reject it Obama can use his veto, which can be overridden only by two-thirds of lawmakers in both houses. That means dozens of Obama's fellow Democrats would have to rebel against one of their president's signature achievements to kill it, an unlikely prospect. Leading Democratic presidential candidate Hillary Clinton called the deal "an important step that puts the lid on Iran's nuclear programs".

The Senate was not expected to vote on the deal before September.
Republicans have 54 Senators, so they don't need dozens, they need a baker's dozen. There are already a few such as Menendez of NJ who oppose the deal. Even if Obama vetos a rejection of the deal, as with Greece, a new president in 2017 could put new sanctions on Iran.

In both cases, we can't know for sure if the deal will stick, assuming they are not blocked by the significant opposition in the Greek parliament and the U.S. Congress. As things stand today, even if the deals pass, it's very likely both will be voided by new governments inside of 2 years.

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