The decision by the Greek Prime Minister Andreas Papandreou to call a national referendum on the country’s next EU bail-out package has won praise across the eurozone, fanning the flames for freedom even in the dark depths of oppressed Germany.
German SPD chief Frank-Walter Steinmeier called it a “courageous” action – very courageous and very hopeful, too, for the 400 million other eurozone slaves currently languishing under the whip of the monstrous EU super state facing taxation without represenation.
http://www.net-tribune.de/nt/node/71073/news/Steinmeier-lobt-Papandreous-Entscheidung-als-mutigen-Weg
Papandreou’s decision to put the interests of his people before the banks also resulted in an all too predictable round of bullying by German Chancellor Angela Merkel and other European governments.
Papandreou has been summoned to the G20 summit in Cannes this evening to be interrogated by the EU overlords on his decision to put the next EU austerity measures to the popular vote as the leaders of the EU brazenly display their contempt for the people and the democratic process.
EU Commissioner Manuael Barroso threatened Greece with consequences worse than austerity if the Greek government dares to allow the people to decide their fate, reject the next round of bankster taxes and leave the eurozone.
http://www.reuters.com/article/2011/11/02/eu-greece-idUSL5E7M22LM20111102
It’s hard to see how there can be anything worse for Greeks than the austerity already mandated by the EU, ECB and IMF, though the EU overlords will, no doubt, do their best.
German economist Hans Werner Sinn has identified the European Central Bank as the real power in the eurozone, which is going about subjugating, crushing and subordinating every parliament and people under its jackboot.
http://www.wiwo.de/politik-weltwirtschaft/zentralbankrat-ist-die-wahre-wirtschaftsregierung-der-euro-zone-487235/
The latest bailout for the Greeks ordered by the ECB, EU and IMF and their masters, the mega banks, has nothing to do with “saving” Greece.
“Greece has been subjected to the greatest fiscal squeeze ever attempted in a modern industrial state, without any offsetting monetary stimulus or devaluation,” writes Amrbose Evans-Pritchard.
http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100012986/revenge-of-the-sovereign-nation/
“The economy has so far collapsed by 14pc to 16pc since the peak – depending who you ask – and is spiralling downwards at a vertiginous pace.
The debt has exploded under the EU-IMF Troika programme. It is heading for 180pc of GDP by next year. Even under the haircut deal, Greek debt will be 120pc of GDP in 2020 after nine years of depression. That is not cure, it is a punitive sentence.”
Greeks will only have to face yet more draconian cuts to salaries, pensions and welfare, more poverty, more misery, more unemployment.
At the insistance in particular of Germany, the Greeks will also are to have submit to permanent monitoring and a „budget police“.
This fiscal occupation could very well soon turn into a military occupation. Who has any more illusions?
During her speech to the Bundestag before last Wednesday’s eurozone summit, Merkel herself mentioned the possibility of war in the eurozone if the bankster euro bailout packages fail. It is clear the bailouts are destroying the eurozone’s economy. They involves taking virtually the entire tax revenues of the eurozone and handing them to the banks.
In effect, Merkel was, therefore, threatening the people of the eurozone with war if they refused to go along with the bailout looting. In doing this, she crossed a red line.
As it is, Greece is already being forced to make monthly interest payments to souvereign bondholders which exceed its entire tax revenues, forcing it to borrow more money and driving it deeper into debt.
German economist Hans Werner Sinn has urged Greece to reintroduce the Drachma to restore competitiveness.
But will the Greks be allowed? Will Papandreou even be allowed to hold a referendum? Will the Greeks be allowed to vote „No“? If not, what then?
Given the number of protests already sweeping Greece, it is hard to see how the next round of belt tightening planned can be implemented without a large-scale military presence.
The prospect of a military coup by Greek generals, who are willing to deploy their troops as mercenaries for the profit of Germans and eurozone banks, may well have prompted the surprise sacking of the Greek army chiefs yesterday.
Merkel is understandably nervous at the idea of a referendum given the fact it could mean an end to the eurozone domination by the banksters and also given the extent to which support has plummeted for her and her bankster bailouts in Germany itself.
Every second German now wants Merkel not to run for a third term as Chancellor, according to the latest poll. 87% do not have any faith in the bankster bailout which she negotiated at last Wednesday’s eurozone summit.
http://www.stern.de/politik/deutschland/stern-umfrage-merkel-verliert-rueckhalt-im-volk-1746108.html
Some German newspapers like the Frnkfurter Allgemeine Zeitung are already asking: why can’t the German people have a referendum?
http://www.faz.net/aktuell/politik/euro-schuldenkrise-keine-panik-11515257.html
The democratic deficit is all too clear following the latest disastrous bailout deal.
The €440bn in the EFSF was leveraged last week in a rushed parliamentary vote in Berlin to fund trillions of euros worth of purchases of bonds from southern European countries, including Italy and Spain.
Germany’s central bank gold reserves have been put up as collateral in the event of losses – inevitable given the deteriorating fiscal positions of Italy, Spain and Greece, which have lost competitiveness since joining the EU.
The debt deflationary austerity measures mandated by the EU, IMF and ECB are deepening recessions.
Against this grim economic backdrop, the ECB is not acting as a sensible lender of last resort by buying up souvereign bonds. It is acting as an engine of hyperinflation, though even that might be preferably to crushing austerity.
Germany’s highest court had to rush to issue a a temporary injunction on Friday last week banning a nine-person secret committee from spending the trillions in the newly leveraged EFSF fund on the purchase of Italian and Spanish bonds after two SPD lawmakers had the quickness of mind to file legal action.
http://www.spiegel.de/international/germany/0,1518,794578,00.html
The secret committee was due to meet on Friday morning, and a few trillion euros would highly likely already have been handed to the banks by Friday afternoon via bond purchases pointless from any financial point of view.
Go Greece! Freedom, prosperity beckon. Light the torch. Lead the way!
