Evaluation of new Greek austerity measures

Amid the chaos caused by conflicts between demonstrators and the police, 155 out of 300 Members of the Greek Parliament yesterday approved a package of austerity measures, labelled “medium-term programme”, which includes massive privatizations of state property, wage, pension and services cuts, in order to theoretically save 28 billion Euros.

The medium-term programme was demanded by the creditors as a prerequisite for the next payment of the bailout, in mid-July.

Greece has become the scapegoat of EU politics, who are trying to cover the systemic flaws of the euro, by putting all fault on a single country and by asking from that country to legislate to the detriment of its people and its own socio-economic viability.

The medium-term programme, a condition set by the troika for the next payment of the bailout, is a piece of legislation that attempts to legitimize a non-sustainable and odious sovereign debt. The one million unemployed, the thousands of bankrupt enterprises, the uncertainty and agony that persist in the Greek society were all put aside to serve the creditors.

I will repeat what I have said again. The loans that Greece receives do not stay in the country. They go directly in to the pockets of the creditors who are in their majority German and French investors (primarily private banks).

The way this works goes as follows

German and French banks who happen to be the heart of the European Banking System and the ones who practically empower the euro, are still in need for bailouts, but this could never be achieved by directly asking the taxpayers to offer their money to private banks, as it could trigger protests and cause unpredictable instability in France and Germany. This of course is not a desired political choice.

However French and German leaders, who also happen to be the “Franco-German” axis that heavily influences EU actions, found an alternative to bail out their banks. That was to loan money to Greece, where their banks have a lot to take from (they hold much of the Greek debt). Thus money from all European taxpayers, goes to Greece, who is presented as the black sheep in this situation; and from Greece the money ends up in the private German and French banks.

Once one can grasp the logic behind this dirty game, will appreciate how ugly EU politics have become and will realize who are the ones who gain out of this crisis and who are the ones who are paying for it.

The people in Greece are protesting not only against the medium-term programme, but also against the tricks of EU leaders. Each European citizen, who does not want to see his/her money ending up in the accounts of some private banks must react in a clear manner. Today it is Greece tomorrow it will be another country. Unfortunately the EU has gradually transformed into a gathering of bankers and mega-corporations, who make decisions to the detriment of the approximately 500 million European citizens.

Bankruptcy in Greece cannot be prevented. It will only be postponed. Do not forget that. The medium-term programme was accepted, thanks to police brutality, spread of fear, lies and catastrophic propaganda. It might have been approved by a simple majority in the parliament but it will never be accepted by the people who see their country and their fortunes being taken away by some creditors in the heart of Europe.

Contributed by Protesilaos Stavrou


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