Tag Archive | "Greece"

Eurozone and Greece Are Preparing for Bailout Exit


A very important piece of news has passed almost unnoticed last week among crucial for the EU issues, like the situation with the rule of law in Poland, the election in Germany and what ruling coalition will be formed at a time when the eurozone is ready to make a giant leap forward in its integration, the going nowhere Brexit negotiations and the accelerated legislative activity of the European Commission. But the most important news last week was that Greece has exited the excessive deficit procedure, thus getting another step closer to the end of its third bailout programme.

The significance of the decision of the foreign and European affairs ministers of 25 September is huge if we recall that Greece was in the excessive deficit procedure for 8 years. In 2009, the Greek shortage in the budget was gigantic – 15.1% of gross domestic product. Last year, for the first time, the country registered a primary surplus (without the interest rates on loans) of 0.7%, much bigger than forecast. The European Commission projects a small deficit this year but it will be much below the 3% ceiling under the European fiscal rules.

Greece’s huge budget deficit and the manipulated statistical data marked the beginning of the euro area’s biggest crisis since the introduction of the single currency, a crisis that unleashed a domino effect and created a risk of a breakup of the currency club and even of the European Union. From the moment the Greek government requested financial assistance from its partners in the spring of 2010, Greece turned into a top priority for the EU and especially for the euro area. Hundreds of emergency meetings, sleepless nights, compromises unheard of, exchange of harsh words, billions of euros, snap elections, referenda, resignations, writing of tens of books is the balance from the Greek crisis, which is entering its last phase.

This year, undoubtedly, will remain in history as the first when the light in the end of the tunnel can finally be seen. The implementation of the third adjustment programme is on track. The biggest problem continues to be the disagreement between the euro area and the International Monetary Fund on the issue of the sustainability of the Greek public debt and that is the only condition for the financial involvement of the Fund in the third rescue package. The way things stand right now it is not even necessary but it does play the role of a bad cop at the moment to keep the direction and the dynamics of programme implementation. As EU Economic and Financial Affairs Commissioner Pierre Moscovici (France, S&D) announced after the Eurogroup’s informal meeting in September in Estonia, the successful conclusion of the third bailout programme will be a signal that a very difficult chapter in the history of the eurozone is to be closed.

Work has already started on the third review of the third package, as the ambition is to complete it by the end of the year. Greece is expected to complete 95 measures linked to social benefits, labour market reform, reform of the public administration, implementation of the non-performing loans strategy, reform of the energy sector and privatisation. According to Pierre Moscovici, the tasks are not easy but their timely implementation will be a signal that Greece has returned as a full member of the euro area.

Is there life after the bailout programme?

This turning point was reached in June this year when a huge breakthrough has been reached – the Eurogroup made a much more specific commitment to Greece for the period after it exits the programme in August next year – for the price of compromises from both sides. Greece committed to maintain a primary budget surplus of 3.5% of its GDP by 2022, and after that a fiscal trajectory of around 2% of GDP from 2023 until 2060. The Eurogroup’s expectations are that Greece’s financial needs (to service debt) will remain below 15% of GDP in the mid-term and below 20% after that, which is a condition to keep the Greek public debt sustainable. The size of Greece’s debt in 2016 peaked at 179.0% of GDP.

In exchange for Athens’ good and responsible behaviour, the Eurogroup, which after the payment of the latest tranche of 8.5 bn euros in July is now the owner of 50% of Greece’s debt, committed to extend maturities on loans and to further reduce the interest rates of the first bailout programme, financed by the EFSF. In case there are deviations from the forecasts the Eurogroup stands ready to trigger a protection mechanism, the details of which will be elaborated after the successful completion of the programme, when it will be clearer whether forecasts are right.

George Chouliarakis, Alternate Minister of Finance and Chairman of the Council of Economic Advisers of Greece, said after the June Eurogroup that for the first time there is clarity on Greece’s future after the end of the programme. The agreed debt relief package is three-layered, he explained. The first layer are the specific mid-term measures, the second is the mechanism that will be triggered in cases when economic growth is below expectations, and the third are the long-term debt relief measures.

Despite the agreement, IMF remained unhappy. At the same meeting on June 15 in Luxembourg, the Fund’s chief, Christine Lagarde, admitted that a lot had been achieved but it was still not enough to ensure the Fund’s involvement in the financial package. However, Mrs Lagarde demonstrated good will by committing that the IMF will set money aside which will be paid after the Fund’s requirements are met. In July, the IMF executive board approved a stand-by agreement of 1.6 bn euros, which will be paid when the Fund receives assurances from its European partners about the sustainability of Greece’s debt and if the economic programme is implemented. The IMF wants more to be done to relieve the Greek debt which the organisation still considers not sustainable.

Greece and the future of the euro area

It was German Finance Minister Wolfgang Schaeuble who mostly insisted on IMF’s involvement. This was his condition to sign the third adjustment programme. However, after the election in Germany he is now out of the game. This still does not mean that Berlin will completely lift its objections, but given the change of atmosphere in the euro area after the election of Emmanuel Macron for president of France, the focus has shifted on the deepening of the euro area integration. One of the ideas in the reflection paper the European Commission published in the spring is the creation of a European Monetary Fund. All bailout funds will be better integrated and expanded, which means that the bailout out of troubled economies in the euro area will remain an internal eurozone matter and there will be no need of an external organisation like the IMF.

For this to happen however, it is still important Greece to continue in the same spirit of constructivity, maturity and sobriety, which will restore trust between members of the currency club and will encourage them to get closer together. But Greece is still giving reasons for concern. At the September Eurogroup meeting, ministers expressed concern with the rule of law in Greece after the former chief of the Greek statistics office, Elstat, was sentenced to two years in prison on a charge of abuse of position. Andreas Georgiou was found guilty for not informing the board of directors of Elstat for his decision to revise the 2009 deficit data.

We fully respect the independence of the judicial system but we see also that these cases create reputation damage and could, if no solution is found, damage the return of the confidence among investors“, said Commissioner Moscovici. The president of the European Stability Mechanism (the permanent bailout fund of the euro area), Klaus Regling, also warned that the legal issues affect the financial markets. All this is happening at a time when the credit rating agencies have increased their expectations for Greece and also when he country has made a successful attempt to return on the market.

Until the third bailout programme is implemented, the IMF will continue to play the role of a life-belt, which will secure the eurozone more time to start the new integration wave. At the autumn EU summit in two weeks, it is expected that plans for the future of the euro area will be discussed in more detail, and the European Commission will present on December 6 the first legislative proposals. Unless there is some new political or economic cataclysm, the Greek story will remain in the past as that necessary evil which triggered the completion of the euro area, the very creation of which is a series of small steps and a lot of distrust among the member states.

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Could Greece Really Turn the Page?


Will Greece manage to complete its bailout programme this time? This is the question that is hovering in the air after on April 7 the Eurogroup agreed in principle on the fiscal and reformist path of Greece after the programme expires next year. Since February, the Greek news from the meetings of finance ministers of the euro area have been creating expectations that this time there might be a breakthrough, after last autumn’s stall of the implementation of the third rescue programme, agreed on in August 2015 to an amount of 86 billion euro. Details on what was agreed on last Friday are scarce as the deal has not yet been “dressed” in a written agreement. This will happen when representatives of the institutions (formerly the Troika) return to Athens, and this, according to the Ekathimerini newspaper, is expected to happen in late April.

Eurogroup boss Jeroen Dijsselbloem (Netherlands, Socialists and Democrats) said at a press conference after the meeting on Friday that a reform package worth 2% of GDP was agreed on, which refers to the period after the completion of the programme in 2018. The Greek government is committed to reduce government spending by 1% of GDP in 2019, the main focus being on the pension system. The pension reform, which includes reduction of pensions, eliminating benefits, and increasing retirement age, is one of the two most problematic issues in the current Greece bailout programme. In 2020 the government will have to cut another 1% of GDP costs, this time the focus being on personal income tax.

Time for dessert

When representatives of the institutions and the Greek government sign the agreement, that would also clear the way for the “reward” for Greece’s serious reform efforts, and that is starting talks on a debt relief. Jeroen Dijsselbloem stated that the biggest hurdles have already been overcome and the Eurogroup will be able to deal with the medium-term fiscal path for the period after the end of the programme as well as the sustainability of debt. The two things are inextricably linked and there is still no agreement on them between the euro area and the International Monetary Fund. IMF and Brussels differ significantly in their understanding of the results of Greece’s bailout programme on the sustainability of its public debt and what fiscal path should be followed in the medium term to allow the debt to be sustainable and to move towards its reduction.

These differences are the reason the IMF has not yet participated in the programme. Based on his own analysis, the Fund believes that the set targets to generate a primary budget surplus (excluding payments on loans) from 1.75% this year, 3.5% next year, and 3.5% in the medium term are not realistic in order to lead to debt sustainability. Furthermore, the Fund believes that it can not be expected of Greece to maintain high primary budget surpluses (averaging 3.5%) for too long after the closing of the programme, and therefore demands that debt relief is agreed on. There is agreement on this maturing in the euro area already, but the question remains what form will this debt relief have.

EU Economic Affairs Commissioner Pierre Moscovici (France, Socialists & Democrats) stated that Greece has achieved a surprising primary budget surplus of 3% last year, which was at least 6 times greater than the objective. This year, Greece is expected to reach 1.75% budget surplus and 3.5% next year. Earlier, during a debate in the European Parliament on the Greek rescue programme Mr Moscovici acknowledged that this goal cannot be pursued too long. “It is not democratic”, he said. However, he stressed the need for Greece to record primary surpluses over the medium term. “We’ve been saying for a long time that a more realistic budgetary surplus target is necessary after the programme. We will not get reasonable market lending otherwise”, he remarked, but did not say how large these surpluses need to be.

He added that Greece has surprised everyone with its economic performance last year. According to the winter forecast of the European Commission, economic growth in Greece was 0.3% in 2016 and is expected to be 2.7% this year. Pierre Moscovici expressed confidence in front of the MEPs that due to significant reforms and good economic performance, Greece will manage to turn the page. So far, more than 200 measures have been adopted since the start of the programme, which is a huge effort. Benoît Cœuré, a member of the executive board of the European Central Bank, said the deal signed on Friday gives grounds to starting talks on the sustainability of the Greek debt, which means also negotiating debt relief. He stressed that time is of the essence.

Jeroen Dijsselbloem also agreed with this, saying there have already been too many delays. “The Greek economy in the 1st half of last year was picking up and that momentum is slipping away from us. So, we really need to work fast and have it done certainly well in time for the next payments”, said the head of the Eurogroup. The next tranche under the programme must be paid in July. The biggest obstacle on the subject of the Greek debt is Germany. The position of Chancellor Angela Merkel is against debt write-off. This will  be one of the main topics of discussion in Berlin on Tuesday (April 11)between her and the head of the IMF Christine Lagarde. The outcome of these discussions and Germany’s decision is hanging to a great extent on the parliamentary elections this fall. Mrs Merkel’s government is seriously threatened by the emergence of a new candidate of the Social Democrats – former head of the European Parliament Martin Schulz, who has always supported the write-off of Greek debt, but the theme is toxic to German society.

Greece is no longer so important

Whether because the end to the Greek saga is now in sight, or because eight years are too long, but the boss of the European Stability Mechanism (the euro area’s permanent bailout fund), Klaus Regling, made a surprise statement at the press conference following the Eurogroup on 7 April. Usually, after Eurogroup meetings, he explains how much money has been allocated so far to Greece and sends messages to the Greek government to adhere to its commitments. This time, however, he reacted in an unusual manner. Instead of starting with Greece, especially after it became clear that an important agreement has been reached, he spoke about how important the other two topics on the agenda of the meeting of finance ministers of the euro area were – how to boost investment and how to improve the functioning of the banking system.

In his words, these two topics are essential for the long-term functioning of the euro area. “But, of course, Greece is important. We tend to talk about primary surpluses these days, but I think in other countries people look more at the overall fiscal balance”, he said at a joint press conference in Malta.

For the scalp of Jeroen Dijsselbloem

Elections in the Netherlands forced over the last few weeks the discussion about a successor to Eurogroup Chairman Jeroen Dijsselbloem. This was also one of the main journalists’ questions at the March Eurogroup, which took place in late March. Back then, the mood was one of full support for Mr Dijsselbloem and confidence that not only will he finish his term (which expires in January), but it is possible that he wins a second term. For the two weeks between the March and the April meetings of the Eurogroup many things have changed. The first is that the Labour Party (PvdA), of which Jeroen Dijsselbloem is a member, lost the elections catastrophically. That was the biggest piece of news from the vote in the Netherlands in late March. The party lost 29 seats and is left with only nine members or parliament, which makes the remaining of Mr Jeroen Dijsselbloem as minister of finance unlikely.

The second change came because of Dijsselbloem himself, who undermined his already slim chances of staying in office. In an interview with the German financial daily Frankfurter Allgemeine Zeitung, he used words that sparked a huge scandal in the southern periphery of the euro area. According to him, one cannot spend their money on alcohol and women and then expect solidarity. Besides from some southern capitals, sharp reactions also came from the European Parliament. Its President Antonio Tajani (EPP, Italy) and a group of MEPs condemned the remarks and demanded that Dijsselbloem attends a hearing in plenary. The Dutch finance minister refused attendance by pointing out that the date (April 4) is busy in his calendar. He also recalled that he was quite recently interviewed in the economic committee of the European Parliament.

During the otherwise filled with populist rhetoric discussion, in which specific comments on the parameters of the Greece bailout programme and the country’s future after the end of it were sporadic, MEPs condemned the statement of the head of the Eurogroup and demanded an apology. A few days later, during the meeting of euro area finance ministers in Malta, Jeroen Dijsselbloem apologised to his colleagues as well. He said he himself had raised the question and expressed regret for his choice of words, repeating that he had no intention of offending anyone. He stressed, however, that in order to have solidarity, it is important to respect the arrangements and promises. “The choice of words has regretfully caused pain for people and that ,of course, I regret very much”.

In his words, no discussion followed and nobody asked for his resignation. It is not clear so far whether Jeroen Dijsselbloem  is going to finish his term in office.  It depends on the duration of negotiations on forming a new government in the Netherlands, since the rules of the Eurogroup state that its leader must be a minister in office. It is possible there will be a gap between negotiations and the end of his term (January), but  it is still not clear how it will be filled. In March, some of his colleagues said that this is the preferred option, namely because of Greece, as Mr Dijsselbloem is far too familiar with the Greek dossier. The appearance of someone, who has yet to get acquainted with the situation in detail, particularly in a key moment for the programme, is not to the taste of some of the ministers.

Dijsselbloem himself said in response to a journalist’s question, that he did not intend to break the tradition of careful selection and preparation of his successor. Ultimately, the post is not reserved for the minister of finance of the Netherlands. There are candidates for his seat already, the most prominent of whom is Spanish Finance Minister Luis de Guindos, who hoped last time to get the job, but lost it to Jeroen Dijsselbloem. The other candidate is Slovak Finance Minister Peter Kažimír. Other names are also mentioned. None of the Eurogroup ministers wished to comment on the topic of Jeroen Dijsselbloem’s resignation before or after the meeting of the Eurogroup, except Austrian Hans Jörg Schelling, who answered a question whether Jeroen Dijsselbloem should resign with a laconic “no”.

Translated by Stanimir Stoev

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Open Letter to the People of Greece: You Are Being Slaughtered before the World’s Eyes


Dearest and Esteemed People of Greece,

You are being slaughtered right in front of the world’s eyes and nobody says beep. Least the Greek elite. Your Government. A few, but a few too many, allow the slaughter because it doesn’t concern them. They are blinded by the false glamour of the euro and of belonging to the ‘elite class’ of the noble Europeans (sic!).

They apparently live well enough, including the caviar socialists of Syriza. They let their country bleed to death literally, morally, socially and psychologically. Medical care is no longer available or privatized and unaffordable. Pensions were reduced five times. They were never more than a survival kit. By now they have been slashed in some cases by over 50%. Hordes of people live on food handouts. Most social services, including to a large extent education have been sold out, privatized. Gone with a flicker. Gone, by order of Germany – and the holy troika – the criminal gang of three, IMF, European Central Bank (EIB) and the European Commission (EU); the latter a mere bunch of unelected corrupt puppets, deciding the fate of some 800 million Europeans – with YOU, the Greek people, accepting carrying the brunt end of the stick.

In September 2016, the unelected European Commission sent Greece a Brussels-drafted legislation of over 2,000 pages, in English, to be ratified by the Greek Parliament within a few days – or else. – Nobody asked: ‘What is else’?

Brussels didn’t even bother translating this unreadable legalistic heap of paper into Greek, nor did they allow the Parliament enough time to read, digest and debate the new fiscal legislation. Most parliamentarians could not read them, either because of language or due to the imposed time limit. The Parliament ratified the legislation anyway.

Under this new law, Greece is transferring all public assets (public infrastructure, airports, ports even public beaches, natural resources, etc.), unconditionally, for 99 years, to the European Stability Mechanism (ESM) which is free to sell (privatize) them at fire sales prices to whomever is interested – supposedly to pay back the Greek debt. The fund was originally estimated, certainly under-estimated – at about 50 billion euros. In the meantime, the value of the Greek assets has been further downgraded by the troika to between 5 and 15 billion euros, as compared to Greece’s debt of more than 350 billion euros. The ESM is a supranational undemocratic apparatus, accountable to no one.

With this legislation, the Greek Parliament – YOUR Parliament, Esteemed People of Greece! – has annulled itself. It is no longer allowed to pass any budget or fiscal (tax) legislation. Everything is decided in Brussels in connivance with the IMF and the ECB. The last time a similar situation happened was in 1933, when the German “Reichstag” (Parliament) transferred all of its legislative power to Chancellor Adolf Hitler.

This, Dear People of Greece – is sheer economic fascism, right in front of your eyes, the world’s eyes, but nobody wants to see it. The worst blind is the one who doesn’t want to see.

This asset seizure was confirmed when the last hope for at least some debt relief was dashed at the end of February this year. Even the IMF initially recommended and today still privately recommends debt relief. However, Germany without mercy announced the final pillage of Greece, requesting Greece to surrender gold, utilities and real estate to the ESM – largely managed by Germany. The next ‘bailout’ amount, if Greece goes to her knees and surrenders everything, might be 86 billion euros, meaning NEW DEBT. In exchange of what? More interest, a higher debt service (interest and debt amortization) — and an even bleaker outlook to ever, and I mean ever, getting out of this US-European fascism imposed process of killing of a nation.

Chancellor Angela Merkel is reported to have said, “Berlin’s stance on Greece’s bailout program remained unchanged”, after she met with IMF chief Christine Lagarde a few days ago (http://russia-insider.com/en/greece-surrender-gold-public-utilities-and-real-estate-exchange-pieces-paper-printed-brussels).

Some facts about Greece’s debt, as of 9 March 2017:


Population 10.8 million.

Debt: 352 billion euros (interest per second: 617 euros; debt per citizen: 32,580 euros).

Interest per year: 19.5 billion euros.

Total Greek bailout funds from 2010 to end 2016: in excess of 250 billion euros – none of which went to Greece for the benefit of the people, but to pay debt service to the troika and pay off mostly German and French private banks.

Debt as a percentage of GDP: 181% (GDP 195 billion euros);
2008 Debt to GDP: 109% (less than today’s US debt to GDP ratio of 109.63%).

Greece’s GDP amounts to less than 2% of EU’s GDP.

Greek GDP has collapsed by more than 25% since 2008.

Unemployment is rampant – with an average of 26% – and close to 50% for young people (18 to 35).

Greece’s debt in 2008 would have been totally manageable internally, without outside interference, or so-called ‘bailouts’ – which are really not bailouts but forced debt accumulation.

Greece’s debt was NEVER a threat to the European Union, as the FED / ECB / WS bankster propaganda made you believe. The Greek and subsequent “European Crisis” was entirely fabricated by the banksters for their benefit, at the detriment of Greece and Europe. It had nothing to do with the Greek or European debt. But nobody questioned it. Those European and international top economists and politicians who knew, didn’t dare to speak out. The voices of those who did dare to speak the truth were muffled. The people of Europe were lied to, including the Greek, as usual by the presstitute media.

Let’s put the Greek debt in perspective.

In September 2011, without warning, the Swiss National Bank (SNB) devalued the Swiss franc by about 12% against the euro to protect its economy. This was an unfair move – to say the least, since none of the euro-zone bound countries has the liberty to re-or devalue its currency, as deemed necessary by their economy, i.e. Greece. While Switzerland is not a direct member of the EU, Switzerland is nevertheless bound to the EU by more than 120 bilateral contracts, thereby de facto a EU member.

During the 3 ¼ years of locking the exchange rate into a fixed rate of at least CHF 1.20 per euro, the SNB amassed more than 500 billion francs in extra foreign currency, mostly in euro. This is about 150% of Greece’s current debt.

Switzerland, a country of 8 million people, in theory, could bail out Greece’s full debt, say, at no interest, by a 50-year loan (World Bank IDA terms) – in solidarity; and to compensate a bit for the SNB’s questionable ethics vis-à-vis EU members. Switzerland would not suffer. To the contrary, such a move would help stem the risk of a Swiss currency inflation, due to the huge amounts of Swiss francs that needed to be ‘printed’ to maintain the artificial exchange rate against the euro. Would Switzerland be prepared to engage in such a solidary rescue action? –Probably not.

People of Greece! – Wake up.

Take things in your own hands! Don’t believe you politicians, your media! Get out of this criminal organization called the European Union, and this fraudulent western monetary system that is strangling you to death. Take back your sovereignty, your own currency. Default on your debt – the west can do nothing about it. Not if you run your country with your own public banks, and your own money, gradually but surely rebuilding a destroyed economy. Debt repayment is negotiable. Cases abound around the world. Argentina is one of the more recent ones. Even Germany renegotiated its foreign debt in 1952 (see London Agreement of German External Debt).


Germany, the leader of this economic massacre of Greece, owes Greece huge WWII reparation payments. On 8 February 2015, PM Tsipras requested Germany to pay up her full reparation debt to Greece of an equivalent of 279 billion euros, in today’s terms. Germany replied in April 2015 that the reparation issue was resolved in 1990 – which, of course, it wasn’t. It cannot be excluded that much of the German pressure on Greece today is a means of deviating the world’s attention of the reparation debt Germany owes to Greece.

People of Greece, be aware of what is going on. Do NOT ACCEPT what your government, Brussels and the troika are doing to YOU and YOUR country. To the contrary, request the full reparation payment from Germany – and demand GREXIT, as a fully legitimate follow-up to YOUR July 2015 overwhelming NO vote to more austerity-imposing troika ‘rescue’ packages.

If you do, you will soon see the light at the end of the tunnel — a light that has been blacked-out for too long by Germany and the gangsters of the troika and your own government.

Threats of Expulsion from the Euro Zone

German Finance Minister, Wolfgang Schaeuble still is attempting bluffing the Greeks and impressing the rest of the world by threatening Greece with expulsion from the Euro. Any sane government would turn that threat into its own initiative and abandon this putrefied monster called European Union, along with its fake and fraudulent common currency, called euro. But that’s the problem, Greece is reigned by insanity.

So, the Greek Government responds to insanity (from the troika) with insane submissiveness, namely with meek compliance – to the detriment of millions of their already deprived and enslaved compatriots.
Among those (still) influential Greek highflyers is Former Greek Finance Minister Yanis Varoufakis; the legendary and charming, ‘radical’, Motorcycle Minister. Though he resigned in apparent protest of the Syriza compliance with the troika’s requests despite the NO vote, today he is nothing more than a conformist, who is seeking few nominal ‘reforms’ in Brussels, but by no means wants Grexit, let alone the collapse of the EU – which, by the way, is fortunately imminent. As Greek Minister of Finance, Varoufakis never even had the ‘Option Grexit’ as a Plan ‘B’


Nobody screams, yells, revolts, takes to the streets, blocks streets, bridges, railways, for days, weeks, interrupts the still ongoing commerce of the foreign owners of what’s left of YOUR country’s public assets. Nobody. This is not to blame the Greek who have to fight for sheer survival, who have to find ways to feed their kids and families, but the j’accuse goes to the Tsipras- Syriza clan and all those Greek elitists, the media (are they all bought like in Germany by the CIA?) and parliamentarians, who just watch in awe – but stand by. No action. Watching Greece – YOUR country, People of Greece! – bleeding to death.

Be aware, this is in fact not about debt and bailouts. If they tell you that the European ‘debt crisis’ is Greece’s fault, and that a new crisis is brewing, depending on how well Greece will conform to the rules of the next bail out – it is an outrageous lie. This crisis is manufactured by the very European, their elite, the FED-led Goldman Sachse’s of this world, who run the European Central Bank through Mario Draghi, a former GS executive – who de facto runs the European economy.

Why do they want Greece under their boots? – They, the scum of Brussels and ‘swamp’ of Washington (as President Trump used to call the Washington Deep State ‘establishment’), want a submissive Greece. Because Greece is in a highly strategic geographic location, at the cross-roads of west and east. Greece is a NATO country. Maybe the second most important NATO country (after Turkey), because of its strategic position. They don’t want Greece to be run by a ‘left-wing’ government. Syriza, of course, is everything but left-wing. It is as neoliberal as they come. The masters of the universe want ‘Regime Change’ – the good old regime change that threatens all those who do not bend to the rules of the west. Right now, the Syriza government is bending backwards over to please the money masters and to let her people be miserably humiliated and ruined.

Were Greece to hold new elections and let a right-wing party and Prime Minister win, à la New Democracy or even the fascist Golden Dawn, or a coalition of the two – the debt problem would go away, almost overnight. What Washington wants, and Brussels by (puppet) extension, is a compliant Greece that will never ever question its role in NATO, never question the EU, never question its shackles to the euro, and never question the US access to the Mediterranean Sea – rich in deep off-shore minerals and hydrocarbons. The same applies, by the way, also to Italy, Spain and Portugal – also riparian states of the Mediterranean Sea. Their governments have already been changed by outside (US / EU) interference to right-wing neoliberal compliant stooges.

The Greek elite and government inaction is inexcusable. This is Stockholm syndrome at its worst. Submissive to their hangman, until death do us part. And death in the form of total destruction, total pillage, total slavery, is not far away.

Do you, People of Greece, want to continue this path to slavery by a predatory empire, that will eventually call the shots on every move you make?

Or do you want to get your sovereignty back, your own currency – and be unshackled from the dictate of Brussels – and start afresh – as the noble and wise Greek people, who brought Democracy to the world some 2500 years ago? – Surely, Greece still has visionaries and the wisdom to remake Democracy. Remember, while we cannot change our geographic location – the future is irrefutably in the EAST.

Let’s live again Greece!

Long live the People of Greece!

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