3 Jul 2011

Greece: A Guinea PIIG?

The Greek nation today is part of a truly epic experiment!

Soon Portugal, Italy, Ireland - and others like Britain even - may join Greece in what seems to be a corporate takeover of a soverign nation.

A month ago, on 3 June 2011, Jean Claude Trichet, head of the European Central Bank (ECB) - and one evil prong of the "troika", which also includes the European Union (EU) and the International Monetary Fund (IMF) - called for the creation of a European Finance Ministry with the power to "veto national economic decisions" if countries in debt don't impose "austerity" measures on citizens when required by the bankers and elites (a.k.a. the "experts"). This effectively would mean an end to nationhood in Western Europe.

Fortunately, Mr. Trichet is leaving the ECB soon. He will be replaced by the the former head of Goldman Sachs in Europe, Mario Draghi... But not to worry, Mr. Draghi has intimate knowledge of the Greek implosion. Goldman Sachs may have helped create it!

Mr. Draghi, of course, claims he was not "involved" in the deal that lit the fuse.

Anyway, today we hear the news that Jean-Claude Juncker, Chairman of the Eurogroup - the quasi-finance ministry of the EU, which actually makes political decisions regarding the Eurozone and its currency, the Euro - told a German magazine that "(t)he sovereignty of Greece will be massively limited."

Greece can looks forwad to suffering more job losses; loss of national assets through privatisation; and having "to accept expertise from the Eurozone". He added that the Greek tax collection system was "not fully functional." Probably, implying that the "Troika" would collect Greece's taxes!

The illustrous, Mr. Junker has been Prime Minister of Luxembourg since 1995, and was formerly head of the World Bank and then the IMF.

The model by which he wishes to take apart the Greek nation is neither new nor creative (he is a mere bean counter after all). His recommendation for selling off the country that gave us the words, democracy and republic, is on the lines of the Treuhandanstalt (German, for 'Trust Agency') that helped, literally, liquidate East Germany.

Between 1990 and 1994, that esteemed private-public organisation (largely run by some of Europe's top corporate bosses) took over and sold tens of thousands of firms, as well as whole million-hectare swathes of the most fertile agricultural land and forests in Germany... And it still managed to end up 270 billion Deutsche Marks in DEBT! (To find out who actually profited, we may have to ask Mr. Juncker.)

But what happened to the East Germans? Well 2.5 million out of 4 million government employees lost their jobs - and it would seem all hope too... Today, almost 20 years later, areas coming under former-East Germany, still have double the rate of unemployment compared to the Western part. The living conditions have prompted about 12% of the population to leave - alarmingly, in some regions, the number of women between 20 and 30 has dropped by more than 30%. And 57% of East German children are born out of wedlock!

So what does the future hold for ordinary Greeks?

Well, according to Germany's finance Minister, German Finance Minister Wolfgang Schaeuble, there is an 81% chance that Greece will eventually default! But it doesn't take a Harward Degree to see an 'EPIC FAIL!' coming when the purported "solution" to a debt crisis consists of forcing the debtor to take on a bigger loan while simultaneously stripping their assets and impoverishing them.

Well, grab a large popcorn, sit back, and let us watch Act II of this Greek tragedy unfold...

P.S: You might want to keep a pitchfork and torch handy. Just in case.

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