Kicking the can down the road for the inevitable is something that is extremely dangerous. Instead of facing the problem of the PIIGS and solving this issue once and for all, the higher Northern EU countries have elected to put a temporary plaster over the debt black hole and hope it somehow goes away.
Greece will now be on its second bailout with a national debt of 340 billion euros, and after six more years of painful austerity, it will reduce its debt down by only 4%. This is for a country which has very little industry, very little prospective growth and a toxic population of militant workers who are used to not paying much tax and living off EU subsidy handouts.
“I can’t see this being worth it for the Greeks. Can you imagine the pain of the poor everyday people in Greece who will have to suffer for many years under austerity. They will have to pay more tax while the rich sail around in their yachts not paying a penny. Retiring will be a thing of the past as they have to pay their German masters,” Johnson Aros, an American economist told the Financial Times.
The current bailout could be a cover for the Northern European banks to move their money out of countries like Greece and Portugal.
The Northern European banks are heavily entrenched in these poor Southern European countries and are trying to move as much money out before the whole load is dumped on the taxpayer again. It will be very similar to Lehman Brothers, however this time the shockwave will reach Bunga Bunga land and Spain. Once that happens, dig down, because the whole world will get sucked under into the precipice.
This new round of bailouts by the EU will also impact on the British taxpayer who will have to foot some of the bill, due in part to the former Chancellor, Alistair Darling, who signed the UK up for an EU rescue fund just before he was ousted from office. Therefore, the already strained finances of the UK will be used to prop up countries that wasted and continue to waste trillions of euros.
The EU has no Treasury as of yet, and this new round of bailouts could also be the precursor for an early version of an EU Treasury.
That is another nail in the coffin for sovereignty and democracy in Europe, where the central Treasury will be all encompassing and have the power to enforce major changes in countries which have been swallowed up by the Fascist EU bloc.
As control systems go, the EU is a floating behemoth that swallows whole countries whole, assimilates them, then spits out an empty shell.
The EU destroys Individuality, it assimilates in a Borg-like fashion.
“To assimilate fully, we must first destroy completely. This is what we have done to Greece. The game is up for them, they are completely under our control,” Jean-Claude Juncker, told the EU parliament.
The Fasci rods of the Thousand Year Reich are once again back, and what’s more, they have achieved all of this without a single shot being fired.
Take one last look at the poor Greeks. They are not Greeks anymore but a beaten people, they have been defeated by unelected technocrats in lands far away up North, away from the rolling olive tree laden hills and the crystal blue Aegean sea.
Drink another Ouzo, dear Greeks, what has happened to your lands that you fought for thousands of years? They have been sold off for a cheap price as has your national identity.