Här är ett perfekt exempel på varför Grekland inte kommer att räddas.
Förre biträdande ECB-chefen Lucas Papademos blir Greklands nya premiärminister, enligt ett uttalande från presidentkansliet.
Lucas Papademos, 64, har arbetat som chefsekonom vid Greklands centralbank under åtta år, från 1994 till 2002. Han övervakade bland annat Greklands inträde i eurozonen år 2000.
Så han missade alltså att goldman hjälpte Grekland att sätta upp två olika sorters skatteböcker. En laglig och en olaglig. En som säger att Grekland inte klara inträdesprovet till EU och en som säger att dem klarar inträdesprovet.
Kan någon lista ut varför det inte kommer bli bättre i Grekland om man anlitar samma "brottsling(ar)" att lösa problemet som skapade problemet?
Och om dem löser problemet vad var meningen med att skapa problemet från början, alltså vem tjänar på det?
As the G20 meet today in Nice, you can bet that the embattled Greek PM George Papandreou will be getting ‘the hair-dryer treatment’ from Germany’s Angela Merkel and France’s Sarkozy.
Back in Athens, Evangelos Venizelos, the Greek finance minister and the PM’s likely successor – was hospitalised on Tuesday suffering from the mother of all stomach ulcers.
Only a few days ago the markets cheered and Merkel fawned the press as Europe agreed to a rescue package for Athens. But Greece’s PM threw a major spanner into the works right after with his shock announcement to allow the Greek people a referendum on whether or not to accept this latest hard-fought Euro debt deal.
If the referendum goes ahead, and the people reject certain Euro-IMF-debt slavery, then Greece will default on their toxic debt to the mega banks. This also means that Greece will leave the EU and also return to its native currency- the Drachma.
But it might not even happen that way… Papandreou‘s government is still embroiled in a battle for survival, with a new vote of confidence scheduled for this Friday. If there is a vote of no confidence, then the Greek government will effectively collapse on the spot – and hence, no referendum vote can take place.
If that happens they will have a new election in 23 days, but if no majority wins, and unless there is a viable coalition gov’t without Papandreou - then no coalition agreement will be in place, and they will have yet another election. This process could roll over and over…
MILITARY COUP
If the government is in danger of collapse, then Greece could be looking at a genuine military coup d’etat.
This theory has gained credence since Athens announced a wild reshuffle, sacking its military leaders in every branch of the forces on Tuesday. The defence ministry confirmed that Greece’s state security council replaced the heads of the general staff, the army, navy and air force, and discharged a scores of army and navy officers.
Greece is no stranger to the military coup, only forty-odd years earlier it was ruled rule by a series of right-wing military juntas starting on 21 April 1967, and ending in July 1974.
Why are the Greek political establishment already freaking out over the prospects of a military coup, enough to sack half the brass?
As the anti-austerity protests have gained steam in recent weeks, members of the police and the army have naturally gravitated over to the people’s side of things, a recipe for disaster in a banker-controlled bureaucracy who is expected to maintain law and order while the country is essentially held down and financially raped by northern European banks.
The UK’s Daily Mail reported today:
That raised speculation about the possibility of a military coup in Greece, an outcome said to have been deemed possible in a secret assessment by the CIA.
Greek-Cypriot Nobel economics laureate Professor Christopher Pissarides, of the London School of Economics, said: ‘Before 1974, when politicians were arguing and fighting, the military came in and said, “Come on now, let’s stop, there’s military rule until you sort it out”.
‘Since 1974, of course, democracy has worked, but it’s worrying when you have news about armed officers being replaced right in the middle of an economic crisis.’
The military may in fact be wanting to save their country from Greece’s ‘creditors’, who are demanding that Greece pass crippling austerity measures before they pile on more loans, circa $152 billion in bailout loans from other Eurozone central banks and the IMF.
The IMF have an impressive record- throughout history they are able to turn any country into a permanent third world resident, or developing nation. The international bankers will offer neo-liberal shock therapy where everything will be cut out of society, and the middle classes will flee for a better life somewhere else. Their record speaks for itself.
Greeks also recognize that their nationalsovereignty is at stake- will they be ruled by banks in Northern Europe or will they be ruled by themselves?
A TOXIC BANK SYSTEM
Despite what banking apologists and Europhiles will tell you, a Greek default is not the end of the world, nor is it the end of Europe. Similar defaults with countries like Ecuador and Iceland have taken place without collapsing the world economy. For the banks however, a default means they won’t be getting those giant bonus, and less Ferraris, Lamborghinis and yachts will be sold in 2012, and less money will be spent on escort services in the City.
In terms of the European single currency however, if Greece goes down, Europe goes down, and therefore the globalist toxic banking business goes down.
The main problem that most Euro leaders and the mob at the G20 will not mention is that Greece and everyone else are linked together by a toxic anchor and chain known as the Credit Default Swap (CDS). It is these toxic products that eventually sabotage any real working solution that the army pseudo-geniuses will come up with at meetings like the G20.
Yet, there is still no talk of eliminating toxic products like the CDS.
In this way, the CDS (where bankers are able to insure their gambling losses) is contagious, or what pundits like Max Keiser refer to as “the financial equivalent of herpes“, a virus that can only be treated and not cured. It is these type of dodgy gambling tools that motivate the predatory lenders like Goldman Sachs who routinely target countries like Greece, Italy, Portugal, Ireland and the rest.
In the end, banks are after one thing: liquidity. Greece may be forced to sell its assets on the cheap through hock and forced privatization. As the bankers acquire new assets, through their toxic toys, they are then able to create more money- multiply their money, all out of this new liquidity.
If Greece and the rest of us are to survive these financial high crimes, we must break free of all the “There Is No Alternative” (TINA)-type scenarios society is constantly force-fed.
The US was fed the same TINA pill before the first banker bailouts in 2008, Obama and McCain did the bankers’ PR for them and Congress passed it. And Goldman Sachs got a lot richer.
We need to start asking the right questions, and call the banks out on their tools which should be flat-out abolished. Otherwise, we will just keep going round in circles of looting and raping by the banks.
No matter what they tell you, no matter how much they scream at you- don’t swallow the TINA.
It is, of course, an artificial deadline. It coincides with the G20 meeting in Cannes. Beyond that, there is not significance to six weeks. What it does do is to concentrate minds. And that was probably its purpose.
However, the past 18 months have been littered with meetings and summits to rescue the euro. Many have come with the billing that they are "crunch" gatherings. Communiques are issued that pacify the markets for days, until the small print is read. And then the realisation dawns that the big question has not been answered.
What happens if a big nation like Italy gets into difficulty? If it is too big to bail out - which currently it is - what impact will that have on Europe's banks? Will the eurozone break up in chaos and imperil what is left of the global recovery? So markets fret. So politicians and officials pledge to use "overwhelming force" to fix the problem.
Emerging from the IMF meeting in Washington is the broad outline of the latest plan. It broadly accepts that Greece will default. What it aims to do is to protect Europe's banks from the fall-out and to build up defences around Italy.
So, in the weeks ahead Europe's banks will be re-capitalised - though we don't know by how much. There will be huge efforts to boost the size of the EFSF - the main bailout fund. The EFSF already has been given extra powers and those are currently being debated by national parliaments. Its fire-power has been raised to 440bn euros (£380bn). The suggestion is that the fund needs to grow to 2 trillion euros.
How this will be done is not clear. But the mood is to pick up on an idea initially floated by the US Treasury Secretary, Timothy Geithner. At a meeting in Wroclaw he called for the existing fund to be leveraged so that it would be four or five times greater. How would this be done? No-one is sure, but the EFSF could act like a bank and draw on funds from the ECB.
So the proposed deal is re-capitalise the banks, expand the EFSF so it could protect even Italy, and prepare for a Greek default.
It is easy to sketch out such a scenario on headed hotel notepaper in Washington - and then there is politics, and reality.
Greece - a country only in name
Firstly, there is Greece. It finds itself pursuing a policy that almost no-one believes in. It is dishing out new austerity plans in the hope it will be given another bailout cheque next month. Finance Minister Evangelos Venizelos is increasingly seen as whistling on the deck whilst the passengers are making their escape. At the weekend he said "Greece is never going to default because that would be a catastrophe for the eurozone."
But, all around him, plans are being laid. The markets have already factored in a Greek default. Some 60% of the Greek people now expect a default. Built in to the new plan is the expectation that Greek debt will be cut by between 50% and 60%, so as to protect the eurozone.
So why, if default is in the offing, should the Greek people go along with the latest austerity plans? A poll suggests that already 48% of Greeks are unable to meet their extra tax burden. Yes, Greece will get the next tranche of the bailout money - 8bn euros - but that is only to buy time.
Greece remains dangerously unstable. "There is no doubt that we are living in wartime conditions," said Apostolos Tamvakakis, the CEO of the Greek National Bank.
The much repeated statement by Mr Venizelos that "Greece is and will always be a euro area member state" is so often repeated that it sounds desperate. The likelihood is that it will remain in the eurozone because of the difficulties of leaving. But it is increasingly a country only in name; its sovereignty has been traded away and its future will be decided by outsiders.
Dissent in Germany
Secondly, there is Germany. The EFSF bailout fund cannot be expanded without German approval. They are wary of giving the ECB more power. Even the German president has warned that there are risks to democracy in doing that. One of the attractions of the modern German state is its focus on the consequences for democracy.
This Thursday the Bundestag will vote on the extra powers for the EFSF agreed on 21 July. The expanded fund will raise German financial guarantees to 211bn euros.
The legislation will be passed. But that isn't the problem. For Angela Merkel the vote will test her authority. If she has to rely on the opposition for the votes she will be damaged and it could even lead to early elections. She needs 311 votes. Her coalition has 330 but she has rebels and they may still embarrass her.
If Angela Merkel comes through this test she may find herself having to tell the German people why more German treasure has to be deployed to defend the euro. She has already said that defending the single currency is a German national interest. The problem is the growing divide between the political class - the elite - and the people. The political class remains firmly committed to the European project. The public has become wary. More than 70% of the people are against further bailouts. If this latest plan is to fly, they will have to be won round.
It will be a long and difficult six weeks. The Americans, the British and a whole slew of commentators are using shock and awe to try to force the eurozone essentially to stand behind the debts of all its nations. It is a massive step with huge implications. The public - as so often happens in Europe - are spectators.
As protesters continue to run riot in the streets, economists are warning that the whole of Europe and by extension, the rest of the world could face financial armageddon should Greece default on its debt, in the absence of a second bailout.
Financial experts are warning of a ‘Lehman Moment’ as the European markets are beginning to show signs of unraveling in the wake of the Greek crisis.
“The markets have moved from simply pricing in a high probability of a Greek debt default to looking at a scenario of it becoming disorderly and of contagion spreading to other economies like Portugal, like Ireland, and maybe Spain, Italy and Belgium.” a former UK Treasury official told Bloomberg news.
Many European countries and banks currently hold billions in Greek debt, meaning that a Greek default will act like a virus throughout Europe.
According to the Bank for International Settlements, Spanish banks currently hold $600 million in Greek debt, Italian banks hold $2.6 billion, UK banks hold $3.2 billion, French banks hold $19.8 billion, German banks hold $26.3 billion and other Eurozone countries hold a combined total of around $15.7 billion in Greek debt.
US banks also hold $1.8 billion in Greek debt and Japanese banks hold $500 million in Greek debt.
The euro has declined by more than 2 percent against the already vastly devalued dollar within the past two days. Equities declined around the world, while corporate bond protection costs soared to their highest level since January. There is now an estimated 78 percent chance that Greece will not pay its debts.
Four of Greece’s largest banks have been downgraded by Standard & Poor’s, while Moody’s Investors Service said it may downgrade BNP Paribas SA and two other big French banks owing to the amount of Greek debt they hold.
A worldwide market freeze on the scale of that seen in 2008 following the collapse of Lehman is looking increasingly likely. Such a scenario would send shockwaves through currencies, money markets, equities and derivatives globally.
The Greek Prime Minister, George Papandreou, is seeking a parliamentary vote on a 78 billion-euro ($110 billion) program of austerity cuts and asset sales. The EU and the IMF have announced that the program must be passed by the end of the month in order that the country can receive “funds disbursement”.
Should such a motion not pass, “Armageddon scenarios come into play, which include default and potentially the whole contagion scenario plays out.” Charles Diebel, head of market strategy at Lloyds Bank Corporate Markets in London, wrote in a note to clients yesterday.
The Greek people, who are now facing either total collapse of their country’s economy or the fire sale of everything of any value that the country owns, have taken forcefully to the streets in protest.
Central Athens has descended into a war zone with ski masked protesters violently provoking police into firing tear gas into crowds of otherwise peaceful protesters.
The following videos from RT highlight the ongoing chaos:
This won’t sit too well with the GCLU. We are, in fact hearing, that there is already a protest organized to protest police brutality, which will culminate with more cops beating the austerity out of more protesters, and so forth at an exponential pace.
Om Grekland inte hade tagit hjälp av Goldman Sachs för att förfalska sina finans böcker.
För att ta det kort: Goldman Sachs skapade en ny finans bok åt grekland som man sedan visade för EU. På så sätt kunde Grekland ta sig in i EU. Man borde ju kunna tro att när detta uppdagades (när greklands finnancer kollapsade) så borde Grekland ha blivit utsparkade ur EU eftersom att dem inte fyller kraven till ett medlemskap. Om det hade hänt hade det inte varit något fel på Greklands ekonomi vid nu.
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