The eurozone elite
allowed Greece to join the euro for their own good political reasons, on the
basis of very problematic data. When the global banking crisis, spawned in the
US (not in Athens) metastasised across the balance sheets of European banks,
infecting the economies and body politic of weaker countries, they lent a ton
of money to weak countries, not as an act of solidarity, but to protect the
interests of the central powers who - along with their banking systems - had
most to lose from the contagion.
an outright extension .. of Wolfgang Schäuble’s ..
right of the powerful over the weak ..
the current stalemate proves .. that the right of the
powerful ..does not apply .. it is the very reason of Europe's current dire
predicament ..
the answer to the problems ..from the smallest to the largest
.. lies in attitudes deeply consolidated within the minds of people ..
suitable attitudes .. that would never allow ..the current states ..of being
..
for neither the powerful .. to seek out to subjugate the weak
.. nor the weak to play the role of helpless minions to appease the powerful’s
..whims ..
it is becoming ..amply evident ..how the sovereign debt ..has
spawned .. grown.. spread .. .
that knowledge consolidates in the minds of people in Europe ..and creates a
political capital ..that can not be ignored ..
the arrogance of the powerful that eats away the pride of subjugated people .. the struggle of the subjugated people to earn back their pride .. the political capital they invest upon their governments .. to reclaim it ..is unstoppable ..
.. or even ..being
swept under the carpet ..
the answer to the problems ..from the smallest to the largest
.. lies in attitudes deeply consolidated within the minds of people ..
the change that ought to be applied ..that would never allow
..the current states ..of being ..
for neither the powerful .. to seek out to subjugate the weak
.. nor the weak to play the role of helpless minions to appease the powerful’s
..whims ..
The Troika got it wrong.
The policy of austerity lacked empirical support, as Nobel prize-winner and
former IMF chief economist Joe Stieglitz has long argued. The austerity
adjustment model, driven politically from Germany, showed no understanding of
the scale and depth of the crisis - and the corresponding need for a Marshall
Plan-type approach, including significant debt write-offs, and not only in
Greece. Nor did they pay regard to the possibility that ordinary people who
marched in anti-austerity protests across Europe were right.
The Troika's programme
imposed on Greece has simultaneously degraded the Greek economy and played
havoc with its health system ( sound familiar?) while increasing the debt/GDP
ratio to 175pc.
What happened next? Greek
Finance Minister Yanis Varoufakis puts it best: "Europe in its infinite
wisdom decided to deal with this bankruptcy by loading the largest loan in
human history on the weakest of shoulders ... What we've been having ever since
is a kind of fiscal waterboarding that has turned this nation into a debt
colony."
debt ..colony ..
colony ..if ever
.. there is a difference .. from one hundred years ago
Germany’s political
whims .. that provide the obstacle in signing and concluding the
agreement between EU and Greece ..
still .. the powerful in defence of their right to control the weak .. not to be shaken .. not to lose face .. the most obnoxious ..pimple ..in the face of Europe ..
the
powerful .. need to be humiliated .. it
is irrevocable ..
to avoid similar mistakes in the future ..
for the powerful
.. to retain whatever is left of their integrity ..their role ..
should ..amply
..realize that ..
and ..concede..
to exonerate
..their misdeeds ..to wash out their shame .. to reduce ..up to .. eliminate their
arrogance ..
from ..pride to
arrogance ..Germany’s .. journey ..in the recent history ..
and the current political
capital that is built upon the human capital ..
the arrogance of the powerful that eats away the pride of subjugated people ..
the struggle of the subjugated
people to earn back their pride ..
the political capital they invest upon their
governments .. which ..Syriza government ..now holds ..
.. to reclaim their pride .. is unstoppable ..
The reluctance of
Ireland to support Greece at this critical time reflects our inability to think
independently and to understand the virtue of solidarity that was once at the
heart of the EU. Ireland continues to doff its cap to the authors of austerity,
regardless of its effects on families at every level. Austerity, which
prioritised the rebuilding of a banking model that created the crisis over the
rebuilding of lives and families impacted by that crisis, never made sense.
to think independently .. assert.. their pride .. claim it .. reclaim it ..
effects on families at every level .. regarded ..as miniscule
..inconsequential ..
pain felt ..acceptable ..manageable ..
the trauma inflicted
..a necessary condition .. for ..assumed ..imagined ..progress ..
their priorities ..away .. from the priorities ..of their
people ..
governments that distance themselves from their people ..
are
..an obstacle that ought to be .. overcome .. put aside ..
put down ..
Mr Varufakis has made
that same case, in a week when yet another global banking debacle unfolded,
saying: "Quite remarkably, while the insolvent states are visited upon by
stern IMF and EU officials, are constantly reviled by the 'serious' press for
their 'profligacy' and 'wayward' fiscal stance, the banks go on receiving ECB
liquidity and state funding (plus guarantees) with no strings attached. No
memoranda, no conditionalities, nothing."
it is becoming ..day-by day .. outright obvious ..that the game.. banks,
institutions, play .. is lost ..
any further .. insistence ..
any further .. resistance .. is futile .. and ..wasteful ..
there is no other way ..but to ..succumb to the inevitable ..the inevitability ..
any other way .. is deemed …as ..plain ..wastage
..
wasting ..time ..and ..valuable resources ..
It's not too late.
Ireland should support a debt conference, a debt write-down for Greece and new
governance arrangements to support adjustment in distressed countries, based on
new thinking. Ireland should do so in its own self-interest - but also because
it makes sense. Because a sustainable agreement will wholly turn around
negative expectations that haunt the eurozone economies - if Greece is sorted,
if the right lessons are learned, then the eurozone will be on a completely different
course.
what is there
..to wait for ..
massive
demonstrations across Europe ..for the message ..to roost .. in the minds and
brains of .. the most ..intransigent ..pig-headed .. politicians ..of you ..lot
do you have the
stomach ..to wait for that ..
what would you gain .. that you cannot have ..now
.. out of your political will ..
and not out of .. enstranglement ..of that
will ..
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