http://www.guardian.co.uk/commentisfree/2011/jun/27/greece-bailout-eu-neocolonialism
Nonetheless, I wanted to highlight a few astute points from the article (in blue font):
"It is perhaps time to revisit some basic facts that have been seriously misrepresented.
1. The bailout of Greece is not a gift or grant but a loan bearing high interest. Crucially, bailout funds are not used to pay civil servants' salaries and pensions, but to pay off debt held by German and French banks...
2. This unprecedented punishment led to an increase in debt and to permanent economic depression. The European governments now propose to offer a second loan, if Greece accepts an even more odious set of measures and sells off the family silver. Acceptance of these measures has been made a precondition for the payment of the fifth instalment of the initial bailout.
This is blackmail worthy of a backstreet loan shark. The privatisation plan includes the sale of 17% of the public power corporation, the engineroom of growth, which will remove the state's controlling interest. ... This post-Soviet style privatisation will pass valuable public assets to private hands...
3. The loss of economic sovereignty is accompanied by unprecedented attacks on the political and legal integrity of the country. IMF and EU inspectors visit the country on a regular basis, examine the records and dictate policy. Under the new plan, foreign emissaries will be assigned to the main ministries and will run the companies that will privatise the public wealth. Government capitulation is not enough. The European authorities demand that all political parties should accept the new austerity measures before the next loan instalment is paid. Surreptitiously, a new type of colonialism is emerging, in which the Brussels elites treat the European south as undeserving poor or colonial subjects to be reformed and civilised..."
I read yesterday that the Damned Chinese now wish to offer to bailout Greece and the rest of the EU. Funny how a supposed Communist nation born from the philosophies of Marx, Lenin & Mao would have its own stock exchange, have 3.3 millionaires amongst its population and conduct its economic policy like every other capitalist nation... Just funny. But I digress...
The US made the same financial pledges last month even though we're $14.5 Trillion in Debt as it is. Only when you print your own money can you get away with such irresponsibility.
You would really think after 33 months since the global Crisis of 2008, that banks and financial entities would be allowed to simply fail, and that Greece could just default before it loses its infrastructure and national identity. You would think these magical tricks and schemes would come to an end and the baddies would get just desserts?
You'd think?
No comments:
Post a Comment