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FOR WHOM THE GREEKS TOIL . . . [Copy link] 中文

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Post time 2015-7-12 19:13:54 |Display all floors
It is estimated that 89% of the 240 billion euros loaned by the Troika to Greece were used to repay other European banks that had lent to Greece earlier, and only 11% was retained by Greece.  To generate the money to repay the Troika, Greece had raised taxes and cut public spending (including on pensions), starting 5 years ago.  Greece's GDP then shrank by 25% while the unemployment rate rose to 25%.  More money loaned to Greece coming in by the front door, up to 95% of which would leave by the back door, will only add to the debt burden of the Greek people, and delay the day of their emancipation from debt.  It will not save the Greeks from becoming Europe's perpetual indentured servant.

The Greeks toiled for the bankers, abroad and at home.

More debt only means more toil, making the Greeks the first serfs created in the Eurozone, to work perennially for their creditors, with reduced pay and benefits, now estimated to last 60 years, instead of 30 years, if the third bailout is implemented.  

If Greece is forced out of the Eurozone, the 130 billion euros of Greek depositors in Greek banks may be frozen, or forfeited, as the banks would declare themselves insolvent.  Although they owed the Greek depositors 130 bilion euros, they would not have the actual Euros in paper cash to pay them with, and their loans to other borrowers will be uncollectible, as they would be frozen by European banks to pay for their unpaid national debt.  

Exiting the Euro means paying up and losing immediately the 130 billion euros of Greece's depositors, turning everyone who had not saved some Euros in paper cash, into overnight paupers.

It will decimate the Greeks.  And, fragment the EU.  Once this begins, credit for trade will disappear.  Commerce will halt.  Unemployment will rise.  Widespread starvation ensues.  Wars will break out over resources.










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Post time 2015-7-12 19:30:26 |Display all floors
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Post time 2015-7-12 22:23:56 |Display all floors
seneca Post time: 2015-7-12 19:30
Another heavily skewed post.

"The Greeks raised taxes and cut pension benefits..."

" their names were publicised by Swiss bank insiders, the Greek tax dodgers are safely beyond reach."

And in your opinion, why this special treatment

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Post time 2015-7-13 01:54:41 |Display all floors
This post was edited by abramicus at 2015-7-13 01:56
seneca Post time: 2015-7-12 19:30
Another heavily skewed post.

"The Greeks raised taxes and cut pension benefits..."

IS IT TRUE THAT THE TSIPRAS GOVERNMENT DOES NOT HAVE THE MANDATE TO EXIT THE EURO?

YES, if one uses the same unreliable polls that said the referendum was a tie, but turned out to be an overwhelming NO of 61%.  The polls said that the people of Greece reject exiting the Euro by a wide margin.  But the polls did not put the choices of EXITING THE EURO, or ACCEPTING MORE AUSTERITY MEASURES, to the polled persons, because if they did, they would have found the answer that the OFFICIAL REFERENDUM did, which is . . .

NO, because the referendum asked the Greek people if they would accept the austerity measures demanded by the EC, ECB and IMF, and they had said NO, with the full knowledge that rejection could mean being forced out of the Eurozone, or having to print their own Drachma and then exiting the Eurozone.

In short, the Tsipras government is now functioning effectively, not as a democracy carrying out the will of the Greek people, 61% of whom rejected the very austerity measures that he and the no-longer-democratic Greek parliament are going to pass, but a DICTATORSHIP, for the EU, by the turncoats, and for both of them.

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Post time 2015-7-13 02:14:11 |Display all floors
THE GERMANS ARE HONEST THAT THE BEST WAY OUT OF THE DEBT QUAGMIRE OF GREECE IS NOT TO ADD MORE DEBT IN EXCHANGE FOR PROMISES BY GREECE TO PAY WHAT IT SIMPLY CANNOT PAY, NOW OR EVER, WHICH CAN COME BACK TO HAUNT GERMAN BANKS IN ANOTHER YEAR, AND FOR MANY YEARS TO COME IN TERMS OF MISSED PAYMENTS BY GREECE . . . DESTABILIZING GERMAN BANKS . . . DESTABILIZING THE EURO . . . AND PUT GREECE DEEPER IN THE HOLE THAN EVER BEFORE.

THE HONEST SOLUTION IS FOR GREECE TO EXIT THE EURO AND RECEIVE HUMANITARIAN AID FROM THE EU, EXACTLY AS THE GERMAN FINANCE MINISTER PROPOSED.

IT IS THE KINDEST, MOST REALISTIC, AND MOST EFFECTIVE WAY TO END THE MISERY OF GREECE WITHOUT DESTROYING ITS PEOPLE WHO NEED MORE HUMANITARIAN AID THAN ANOTHER 89 BILLION EUROS OF DEBT AND CRUSHING AUSTERITY MEASURES THAT IS ALMOST CERTAIN TO RESULT IN THE STARVATION AND POSSIBLE DEATHS OF THOUSANDS OF GREEKS.

HUMANITARIAN AID IS WHAT GREECE NEEDS . . . AND THEY NEED AN HONEST GOVERNMENT THAT WILL OBEY THEIR WILL EXPRESSED IN A FAIR AND FREE REFERENDUM . . . NO MORE SLAVERY!  GERMANS DO NOT WANT SLAVES.  THEY DO NOT WANT TO BE SLAVE MASTERS.  THEY WANT GREEKS TO BE FREED FROM THEIR OWN DISHONEST MASTERS, AND IN FIVE YEARS, BE FREE FROM ALL DEBT.  WHAT IS SO BAD ABOUT THAT???

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Post time 2015-7-13 03:21:40 |Display all floors
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Post time 2015-7-13 03:49:03 |Display all floors
Rolling debt (issue new bonds and pay back maturing debt) is normal financing of all countries. Why is it such a surprise that Greece used the new debt from EU, ECB and IMF to pay back old loans?

Greece hiked their tax rates but kept failing to collect the tax.

Finland will make sure Greece will not get another cent from EU, except humanitarian help for the people.

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