I have deliberately not published anything for the last couple of weeks as world events have moved quickly and in such situations it is better to observe events as they unfold before making unwise remarks.
I would not wish to be in Alexis Tspiras’ shoes at the moment. On the one hand he asked the Greek people to vote whether they want to remain in the European Union and continue to benefit from it, or whether they submit to the proposals of the Troika in return for a further bail-out. Unfortunately for the Greek people Tspiras blinked first and had no option but to accept the tougher proposals from the Troika in return for a bail out.
The Greeks will feel angry and betrayed that he went back on his promises and they have every right to. Having been told the options they voted not to be slaves, the referendum was considered to be an inconvenience to the politicians in Brussels (which speaks volumes about the kind of “democracy” they are peddling to the rest of us), now the Greeks have no option but to be totally destroyed, have all their assets seized and to cease to exist as a people. It is going to be an interesting few weeks this summer.
The essence of the loans by the Troika to Spain, Portugal and Italy was they were forced loans that were put in place not to help the citizens of those countries, but to help the banks. Had the banks been allowed to fail it would have been tough for the citizens in the short term, but it would have allowed an exit from the Euro as a currency and to implement local currencies which, starting from zero, or even from the point before the Euro was instigated as a currency, would have allowed these economies to make their way back to growth in a few years. Unlike Britain, for instance, Greece is pretty self sufficient for its day-to-day living and would be able to endure short term hardships.
The IMF, Bank of England and lately ECB have been printing money like it’s going out of fashion so that banks can stay afloat. Surely this is a questionable practice. If I were to set up a printing press, printing £10, £20, £50 notes and then using them to buy goods and services, if I got caught I would be charged with printing counterfeit money and money laundering, yet when financial institutions do the same with the blessing of the governments it’s perfectly ok.
In the same way that prior to the crash in 2009 banks, credit card companies bombarded people with cheap credit, almost coercing people to take out loans I see no obligation should be expected to return such loans in cash or in kind. During the crash it became transparent that so-called “toxic debts” were bundled up and sold onto governments to bail out the banks which we, as taxpayers, are still paying for. These bonds were forced onto poor countries with the full knowledge that these “toxic debts” could never be paid off, and yet these governments are being held responsible for paying them off. This is so utterly wrong.
On the one hand it creates a “slave dependency”, it softens up those countries who will be taken over the most quickly and easily by the corporations behind TTIP. When these “slave” countries have had this normalised in their lives, the same corporations will do the same to the rest of us. This is what is behind these so-called “trade agreements”.
This is why I say there is no obligation, moral, business justification or otherwise, for whole countries to be enslaved by banks for their own gain. It is money laundering and counterfeit printing pure and simple.
If the laws pertaining to such practices are applied to ordinary citizens, they should also be applied to institutions and the governments that allow this.
If it is the case that referenda are considered meaningless by governments and institutions such as European Parliament, then we really do need to reconsider the notion of “ever closer union”. This is purely at the behest of the USA who would find it so much easier to deal with one entity rather than 27 separate countries. I say we remain as 27 separate countries because that’s what we really are.
The stupid thing is, the same “mistakes” are being brought to bear in the case of Ukraine which is more broke than Greece. At the instigation of the USA Europe has implemented sanctions against Russia with whom it had a strong trading relationship and, pretty much allowed the “strong” German economy to ride out the worst of the recession, the US backed thugs in Ukraine want to join the EU who were no doubt promised financial assistance, among other things. Germany is no longer the strong economy it was pre-sanctions and the IMF has stepped in with loans it will never see returned with a view to destabilising Europe and Russia.
If EU politicians had a backbone between them they would tell the USA to pack up and get lost, drop sanctions against Russia, tell the Ukrainians to stop acting like thugs and get a grip. Normal relations between Russia and EU countries would resume and the war industry that is the USA would have to look elsewhere for its imperialist ambitions.