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Introduction: Further developing material presented in FTR #746, this program details the horrifying developments unfolding in Greece. Being hailed as a “success,” due to its recent re-entry into the bond market, Greece is actually a cruel and depressing example of the long-standing strategy of German/Underground Reich geopolitics.
Realizing a strategy for German political domination of Europe and the world, the EU and EMU are direct manifestations of the strategy first advocated by Friedrich List in the 19th century.
List advocated a pan-European economic union–dominated by Germany–as a means to control first Europe and then the world. Implementing the List strategic doctrine through a series of military adventures and subsequent economic and political consolidation, Germany has utilized the concepts formulated by Prussian military theorist Carl von Clausewitz in order to do so.
Having originated the concept of “Total War,” von Clausewitz posited the fundamental importance of a “post-war” to successful realization of strategy.
In All Honorable Men, James Stewart Martin highlighted an important aspect of von Clausewitz’s philosophy, that war and diplomacy are two sides of the same coin. When diplomacy is no longer effective, the policy goal is pursued through the use of armed force. When war and military power have reached the limits of their effectiveness, diplomacy continues the pursuit of the goal.
Generations of Germans have understood this and incorporated that concept into the methodology of German power structure.
. . . . The end of battle in 1945 had signaled the start of a new kind of war–a post-war. Germany’s classical military theorist, von Clausewitz, is famous for having declared that “war is the continuation of diplomacy by other means.” In dealing with a Germany which had gone to school with von Clausewitz for generations, we knew that, conversely, a post-war is the continuation of war by other means. Since Bismarck, wars and post-wars have formed a continuous series, changing the quality of the events only slightly from year to year, with no such thing as a clear distinction between heat of battle and calm of peace. This post-war of the German occupation was different from the “cold war” between the United States and Russia, which broke out at about the same time. The latter complicated the diagnosis, like a man getting typhoid fever and pneumonia at the same time. . . .
Having inflicted enormous damage on the infrastructure and populations of Europe and having appropriated the liquid capital of those countries and secreted it into the Bormann flight capital network, German corporate structure cemented their control over the remaining wealth of the continent through licensing agreements and corporate alliances.
Not conceptualized as an economic theorist, von Clausewitz’s doctrines of “total war” and “post-war” apply directly to the political/economic domination of Europe by Germany.
Greece is but one example of that policy, albeit one of the most salient and shocking. We present what has been done to Greece as representative of “Clausewitzian economics.”
Program Highlights Include:
- The installation by the Troika (read “Germany”) of the Greek neo-Nazi LAOS party as part of the provisional Greek government created to impose “austerity” on the unwilling Greek populace. Note that the citizens of Greece–the cradle of democracy–had no input in this!
- Greek insistence that Germany pay back the billions it stole during World War II–this flight capital is part of the Bormann organization about which we speak so often.
- STERN‘s claim that Greece is owed some 300 billion euros from the war.
- The Greek population’s support for the payment of reparations by Germany.
- The fact that the “bailouts” being provided to Greece are being used to repay the banks–many of them German–that are creditors of that unfortunate nation. The bailouts are NOT going to the Greek citizenry themselves.
- Germany’s own deliberate default on debt owed on bond issues that helped re-build its economy after World War I.
- Charges by a Greek analyst that Germany deliberately inflated Greece’s debt, leading to “a new kind of occupation.”
- Recounting of the brutal reality of the “austerity” (i.e. Clausewitzian economic reality) imposed in Greece, including: the fact that Greek physical education teachers no longer require their students to participate, because so many of them are too underfed to exercise properly; the necessity for Greeks entering hospitals to bring their own sheets and pillowcases due to budget slashing; the inability of Greeks to bury their dead, due to impoverishment.
- A recapitulation of the incremental German implementation of List’s theories through the Clausewitzian “continuation of war by other means”: the German geopolitical strategy during World War I; the German strategy in 1940; the German postwar plans in 1942; the German geopolitical strategy in 1945.
- Analysis of German strategy toward the EU as being analogous to the occupation of Poland during World War II.
- Analysis of German strategy by a former vice-chariman of Moody’s, who said that modern Germany is doing the same thing as the Third Reich.
- A highly controversial Greek proposal to solve the youth unemployment problem (between 55 and 60 percent) by implementing what is, essentially, a form of slavery.
- In an update, we learn that former LAOS part member and doctrinaire fascist Makis Voridis has been appointed Health Minister.
1. We begin by noting that the provisional Greek “austerity” government includes the Greek neo-Nazi LAOS party, installed with no input whatsoever from the population of “the cradle of democracy.”
. . . Recently, a rightwing extremist party was again made a direct coalition partner in a country’s government — in Greece. The newly installed transitional government — imposed under the supervision of Berlin and Brussels — includes not only the conservative and social democratic parties but also the LAOS Party (Laikós Orthódoxos Synagermés, “Orthodox People’s Alarm”). The LAOS Party musters also partisans of the former military dictatorship and is known for its racist and anti-Semitic invectives. Giorgos Karatzaferis, LAOS Party Chairperson, is quoted to have proclaimed that he is proud “not to be Jewish, homosexual and communist,” which “only few can claim.“ He is said to have called out to the Israeli ambassador: “Jew ambassador, watch out where you tread! Let’s discuss the Holocaust, let’s talk about all the fairy tales about Auschwitz and Dachau.“ Makis Voridis, a member of the LAOS Party and minister of transportation in the Greek government, imposed by Berlin and Brussels, began his political career as the leader of a youth organization of the party presided over by Georgios Papadopoulos. Papadopoulos had been the military commander of the junta. He founded that party after he had been released from prison, in the aftermath of the overthrow of his dictatorship. The German government evidently considers the LAOS Party helpful for implementing its austerity dictate. . . .
2a. The first of several articles notes that the issue of German war reparations owed to Greece has come back into focus in connection with the austerity package imposed by the Troika.
Note that, according to Albrecht Ritschl, Germany is the greatest debt transgressor in the world, as a result of World War Two debts.
Last night, under strong popular protests, the Greek parliament accepted the latest “austerity package,” that the German government had promoted in the form of an ultimatum. This “austerity package” will lead to a 20 percent cut in private revenue and the minimum wage, therefore also in the public sector wages, which are dependent on the minimum wage. One hundred fifty thousand government employees will be laid off. Criticism of Berlin has become sharper because of its efforts to transform Athens into a de facto EU finance protectorate, using so-called austerity commissioners. Demonstrators burned German flags; Greek parliamentarians have announced an initiative to remind that German World War II reparations are still outstanding. Since 1945, the Federal Republic of Germany has consistently refused not only to pay reparations, but also Nazi debts, even those undisputed by the German Reichsbank at the end of the war. These would amount to more than three billion Euros today. But, the debate continues in the German capital about the suspension of democracy in Greece.
Protests against Berlin
Berlin’s brutal austerity dictate and the German media’s on-going rabble-rousing anti-Greek (“bankrupt Greeks”) propaganda has enflamed Greek protests against Germany for quite some time. Last summer, Greek demonstrators chanted “Germany out of the EU!”, and displayed “Merkel = Nazi” banners at rallies. EU flags with a swastika in the center were occasionally seen. The memory that this is not the first time that Berlin has dictated Athens’s policies, has recently been accompanied by references to Nazi rule in occupied Europe. Last week demonstrators outside of the Greek parliamentary building again chanted “Nazis Out!” while burning a German flag. Trade unionists also occupied the Athenian offices used by the German Horst Reichenbach and his “task force Greece,” monitoring Athens’s austerity measures, in the name of the EU Commission. These protests against Berlin’s hegemonic dictate are defamed in the German media simply as “anti-German propaganda.”
A few days ago, a group of twenty-eight Greek parliamentarians, from various parties, reacted to Berlin’s persistent pressure by tabling a resolution, calling on the parliament to debate Nazi Germany’s plunder of Greece, which has never received indemnities. The indemnities not only refer to reparations in general, but also to the compulsory loans to the Reichsbank’s clearing account. Shortly before the end of World War II, Nazi bankers were still in possession of Greek assets worth 476 million Reichsmark, which has never been repaid by the Federal Republic of Germany. According to experts, this would today amount to 3.4 billion Euros with interests included. Greece is not the only country that has waived Germany’s old Nazi debts without receiving anything in return. As the economist Albrecht Ritschl, who teaches at the London School of Economics, confirmed, Nazi Germany’s unpaid debts to its wartime adversaries would today range between 700 billion and 1.4 trillion Euros with interests included, depending on the method of calculation. This does not even include the reparations for war damages.
Because of the Federal Republic of Germany’s longstanding policy of refusal, even totally indisputable Nazi debts have never been paid. Bonn scored a decisive success in 1953 with the so-called London Debt Agreement, achieving a gigantic debt cancelation, in the framework of which Greece also waived its former occupier’s enormous debts. That agreement permitted the Federal Republic of Germany the expunction of enormous debts, created both before and since World War II. The agreement also stipulated that the question of the payment of Nazi debts and reparations would first be solved with a peace treaty concluded with a “reunited” Germany. [The Federal Republic of] “Germany has been in a very good position ever since, even as other Europeans were forced to endure the burdens of World War II and the consequences of the German occupation,” says the economist Ritschl. This has made the resurgence of the “greatest debt transgressor of the 20th Century,” namely, Germany, possible. . . . .
2b. According to STERN magazine, Germany owes Greece the equivalent of 300 billion Euros from World War II.
The weekly German “Stern” magazine this week dedicated one of its columns to the issue of German war reparations to Greece, while it also at the same time notes that Berlin has only given Greece 37 million Euros to save the almighty Euro. The article said reveals that Greeks wish Germany would finally pay the war reparations because it believes Berlin owes much to the country for the damages and atrocities it caused during World War II.
The issue of war reparations appears regularly in Greek newspapers, claims the article, but notes that no such discussion (or claim) has been raised by both Athens and Berlin. The magazine also blasted the decision by the German government which said two weeks ago that the issue of war reparations to Greece has lost its meaning. A spokesman for the German Ministry of Foreign Affairs said that “the federation of German believes that after many decades, the issue of war reparations has lost its meaning.” The statement was made of course after Athens established a working group in order to study old documents and estimate the exact amount of the reparations.
“The fact is, the Greeks are among the nations that suffered the most under Nazi occupation. Their will to resist was fatal. First up was a legendary telegram that the Athens dictator General Metaxas sent in October 1940 to Fascist Italy – in response to Mussolini’s ultimatum to surrender. It contained the plain text “ochi” (no), which is why the Greeks celebrate to this day every October to “Ochi Day”. Shortly thereafter, the Italians attacked Greece and although numerically more superior, were totally pushed back behind the Albanian border.
Then Hitler sent his troops and was also met with massive opposition. When the Nazis finally triumphed, they set up a brutal occupation regime in order to show the world what can happen when small countries do not submit. In Crete, which was particularly competitive, an order was given that said that for every fallen Wehrmacht soldier, ten Cretans should die. (As a result) 30 island villages were destroyed. On the overall, more than 80,000 Greeks. or 7.2 percent of the population died between 1941-1944.”
The article then speaks about the “interest-free loan” to Hitler.
The fascists, claims the same article, attacked, pillaged and destroyed Greece’s industrial production equipment, crops, etc. Hitler, it adds, even forced the National Bank of Greece, to lend Germany interest-free money. The total amount “of these government bonds totaled 476 million Reichsmarks, which today corresponds to ten billion euros.”
The subject of war reparations was first negotiated in the autumn of 1945 in Paris. At the time, adds the same article, Greece was asking for ten billion US dollars, which was viewed by all conference participants to be a little over exaggerated, especially the US, so Greece was apparently awarded with 30,000 tons of German industrial goods with an estimated value of approximately US $25 million (or two billion euros at today’s rates). But, the same article writes “these products have never made it to Greece.” . . .
2c. Tagesspiegel maintains that the damage done to Greece “destroyed” the country.
The classical liberal German newspaper Tagesspiegel, criticizing Germany’s refusal to pay more war reparations to Greece for World War II, said the Nazis did more damage there than in any other country.
Tagesspiegel catalogued the horror and suffering that Hitler’s forces brought to Greece: “130,000 civilians, women and children, were executed in retaliation for rebel attacks. 70,000 Jews were taken to concentration camps, 300,000 suffered frostbite and hunger, because the Germans confiscated food and fuel. Fifty percent of the country’s infrastructure and 75% of industry were destroyed”. . . .
. . . . The paper said that if Germany paid Greece what it is alleged to owe, it would dramatically improve Greece’s likelihood of overcoming its crushing economic crisis.
“The Greek government appears to pushes the issue away. After the conclusion of a group of experts on the topic, the Greek Ministry of Foreign Affairs will ask the opinion of the state’s law officials, in order for the decision to be postponed in every way,” it added.
2d. The Greek parliament has unanimously voted that Greece must ask Germany to pay war reparations.
For the first time in decades every single party in the Greek parliament is in unanimous agreement. Greece needs to formally ask Germany to pay back the money owed from the Second World War. This includes the war reparations as well as a forced occupation loan. A provocative statement made by German Finance Minister Wolfgang Schaeuble on Thursday noting that Greece should avoid the issue of war reparations and rather concentrate on reforms only ignited the flame which is now growing into a fire.
Schaeuble was referring to a top-secret report compiled at the behest of the Finance Ministry in Athens. Leaked by To Vima newspaper on Sunday, the report suggested that Germany owes Greece 162 billion euros in World War II reparations.
In essence, the political parties are urging the government to take the necessary legal steps to claim the 162 billion Euros (without the interest), that are due to Greece as a result of Nazi occupation and a forced war loan. (The 108 billion for Greece’s infrastructure and 54 billion for the forced loan).
Responding to Schaeuble’s statements, Foreign Minister Dimitris Avramopoulos said that the reforms being carried out in Greece bear no relation – and can bear no relation – to the issue of German reparations, adding that the Greek state has been raising the issue for many years.
“Whether this case has been resolved or not is determined by international justice, given that, by its nature, this issue concerns international law and the international justice organs,” Avramopoulos said.
“Greece is not ‘losing its focus’ on the reform policy, despite the great sacrifices the Greek people are shouldering,” he added.
In comments made to Germany’s Neue Osnabrucker Zeitung newspaper, Schaeuble said the issue of war compensations has already been “settled.”
Meanwhile, the German Tagesspiegel newspaper, slammed the Berlin government’s stance on the issue noting that the Nazis did more damage in Greece than in any other country they occupied. The newspaper said that Hitler’s forces were responsible for the death of many men, women and children.
Specifically it said 70,000 Jews were taken to concentration camps, 300,000 suffered frostbite and hunger because the German forces confiscated all food and fuel, 50 percent of Greece’s infrastructure and 75 percent of the country’s industry were totally destroyed.
The issue of war reparations has been a contentious and legally complicated one for decades. Nazi Germany, which occupied Greece from 1941-44, forced Athens to extend it loans and give up gold reserves. There was also the question of the destruction of infrastructure and compensation claims filed by individuals who survived Nazi atrocities. As a result, Greece suffered greatly and unlike every other country Germany went to war with, only Greece has never been paid compensation. [This is not entirely correct. The former U.S.S.R. was never compensated either–D.E.]
Campaigners say the Paris Reparations Agreement of 1946 obliges Germany to pay Greece around billions of Euro.
There has long been a vociferous lobby calling for war reparations from Germany, with the so-called “National Council” calling for more than 500 billion Euros in war reparations (with interests), as well as the forced loan (with interest), but also for other commodities such as stolen art work and the loss of 50pc of economic output over almost four years. . . .
2e. The Greek citizenry is in agreement with that country’s parliament.
Eight out of 10 Greeks believe the government should pursue Germany over war reparations, following a classified report by the Greek Finance Ministry indicating the debt stands at €162 billion.
Ekathimerini reported almost 90 percent of Greeks consider damages should be sought. Last week Digital Journal reported leaked details of the classified report commissioned by the Greek government concluded “the outstanding debt is comprised of €108 billion for damage to infrastructure and €54 billion for the forced loans demanded by the Nazis.”
German Finance Minister Wolfgang Schaeuble responded to the issue of war reparations by dismissing the issue as already settled, saying: “I deem that such statements are irresponsible. Instead of misleading the people in Greece it would be better to show them the road to reforms.”
His words drew a strong response from Greek Foreign Minister Dimitris Avramopoulos who stated: “The reforms being carried out in Greece bear no relation – and can bear no relation – to the issue of German reparations. Whether this case has been resolved or not is determined by international justice, given that, by its nature, this issue concerns international law and the international justice organs.”
According to Hellas Frappe (which outlines the details of the reparations due) every single party in the Greek Parliament is in unanimous agreement that Greece should ask Germany to pay back the money owed.
DW [Deutsche Welle] reports German historian Hagen Fleischer argues the issue is not settled but believes Greece should focus on the forced occupation loan, estimated to be €7 billion without interest. Fleischer says that whilst Germany will not allow Greece to set a precedent over reparation demands, the loan should be pursued. . . .
2f. Note that Germany itself defaulted on the bonds it issued to revitalize its economy after World War II.
. . . . It started in the 1920’s when Germany issued series of bearer bonds in the USA for revitalisation of its economy following the devastating effects of WWI. Acting as trustees, financial institutions such as JP Morgan and Lee Higgins & Co. produced and sold bonds in America raising funds that would be invested in Germany.
These bonds corresponded to Agricultural Loans signed by 14 German banks and guaranteed by the German government. Of these 14 banks four are still active and are part of the troika mechanism.
From 1933, Germany defaulted on interest repayments to Bondholders, as the new Nazi leadership considered the debt that Germany faced following WWI as illegal and issued a moratorium on bonds owed to foreign investors.
In 1953 following years of German debt crisis, the London Debt Agreement restructured Germany’s debt to be sustainable by the agreement of its creditors.
The way this deal would function was to provide the option to the bondholders of German debt, to either accept the repayment terms of the LDA, or to forego attempts to claim their debt until 1993. The rationale being, that you can cash in today from a weak Germany, or wait for a full settlement after 40 years of German growth and development.
Assenting Bondholders: For bondholders who wanted to cash in their bonds immediately, they could receive partial payment, and new bonds, with a discount on the value of their bonds (depending on the issue, between 20% – 60%). For this to be implemented correctly, a procedure of Validation was set up to ensure that anyone presenting bonds for payment, could prove that they were indeed the beneficial owner. This would guarantee that all of the disbursements paid went directly to Germany’s creditors in the correct manor.
Non Assenting Bondholders: For bondholders who chose to wait for full settlement by their next generation in the future, their course of action was to maintain the debt instruments (the bonds) safely, and not request a settlement until the 40-year grace period had expired.
Validation boards were established in the three US states (where the bonds were initially sold) to carry out the compliance requirements for the bondholders who chose to accept the option presented in the LDA. Having performed their role, these boards were subsequently closed a few years later.
By 1993 the German government had succeeded in revitalising its economy and began to respond to requests for payment. Unfortunately, they chose not to honour their debt. To the surprise of many bondholders, Germany would receive payment applications with the physical bonds attached, perforate the bonds, and stamp them as invalid.
The reasons given by the German Government and its subsidiary bodies are: Germany has compiled a list of Bond serial numbers that Germany considers stolen, and hence invalid. The procedure of validation must be complied with.
The German government claims that during WWII Russian soldiers looted the Reichsbank vault, where many bonds were kept, and that these bonds were reintroduced into the market for payment. The simple problem with this claim is that the only bonds that were in the German vault, had already been paid off or pledged, for which there is a public record, and no active bondholders had their bonds physically in Germany. Furthermore, the building which housed the Reichsbank had been completely destroyed, the contents of which had been removed by Germany before the arrival of Russian soldiers to Berlin.
The bonds were “bearer” instruments, and bondholders would cut off the coupons from the papers for their interest repayments. This claim however, was acceptable in the few years immediately following the war, as it was obvious bondholders would not be able to recover their principal or interest at the time, and was the reasons for the Validation Procedure outlined in the London Debt Agreements.
The so-called ‘Validation Procedure’ which was intended to apply to bonds that would be submitted for payment in 1953 added additional security requirements for the bondholder to comply with. Not only was it clear in the legislation that this only applied to Assenting Bondholders in 1953, subsequently indicated by the closure of the Validation boards, but it would be simply impossible for any bondholder to comply with them 40 years later.
When bondholders and creditors have asked to see this list, the German government categorically denied access, stating that it is not in their national interest, and has classified this list as a “national secret”.
What followed was a series of lawsuits in the US where German legal defence has never denied the liability for its debt, but has systematically used technical issues and delayed court cases, to the point that many bondholders have paid millions more in legal expenses. Many of these claims continue today, by some of the surviving bondholders, and the acquirers of that debt, and will be making appeals to the European Courts in the near future.
There is no question in the minds of the many experts in banking and law, with substantial knowledge of international financial instruments, that these bonds represent unpaid debt of the German government and its subsidiary bodies. . . .
3. The details of the agreement to which the Greeks are being subjected might be politely described as stunning. The country is being used as a vehicle for shoring up weakened European financial institutions!
Earlier today, we learned the first stunner of the Greek “bailout package”, which courtesy of some convoluted transmission mechanisms would result in some, potentially quite many, Greek workers actually paying to retain their jobs: i.e., negative salaries. Now, having looked at the Eurogroup’s statement on the Greek bailout, we find another very creative use of “negative” numbers. And by creative we mean absolutely shocking and scandalous. First, as a reminder, even before the current bailout mechanism was in place, Greece barely saw 20% of any actual funding, with the bulk of the money going to European and Greek banks (of which the former ultimately also ended up funding the ECB and thus European banks). Furthermore, we already know that as part of the latest set of conditions of the second Greek bailout, an’ ‘Escrow Account” would be established: this is simply a means for Greek creditors to have a senior claims over any “bailout” cash that is actually disbursed for things such as, you know, a Greek bailout, where the money actually trickles down where it is most needed — the Greek citizens. Here is where it just got surreal. It turns out that not only will Greece not see a single penny from the Second Greek bailout, whose entire Use of Proceeds will be limited to funding debt interest and maturity payments, but the country will actually have to fund said escrow! You read that right: the Greek bailout #2 is nothing but a Greek-funded bailout of Europe’s insolvent banks… and the Greek constitution is about to be changed to reflect this! . . .
4a. Just how acute is the situation in Greece? So bad that physical education teachers are excusing children from participating due to the fact that malnutrition prevents them from exercising without becoming dizzy. These children may very well experience long-term effects from their “austere” diet.
This is a textbook example of politics as the continuation of war by “other means”–applied von Clausewitz.
. . . It has been a common secret among PE teachers for some time now that they don’t expect pupils to do PE any more, because many of them are underfed and get dizzy. . . .
4b. Statistical analysis of the toll of austerity on the health of the Greek citizenry is staggering.
. . . . A trauma therapist, following his trip to Athens, has described the social consequences and the total collapse of the Greek economy, provoked by the German austerity dictate. The therapist provided supplementary training for his Greek colleagues, which was deemed exceedingly necessary because of the consequences of the crisis. In the process, he also became acquainted with the Greek social situation and since has been complaining of the “gigantic obscurantist capacity” of Western Europe, where the austerity policy is being continued, in spite of the catastrophic situation in Greece. For example, “entire residential blocks (…) are deprived of oil deliveries for financial reasons.” Illegally felled trees are the sole source of heating. Whoever must go to the hospital, “must bring his own sheets and bed covers, as well as the own food.” “Since the cleaning personnel was fired, doctors, nurses and orderlies, who, for months, have not been paid, are cleaning the toilettes.” The EU is warning of “the danger of an outbreak of infectious diseases because of the devastating hygienic conditions.” The trauma therapist reported that “women, in their late pregnancies, have to beg from hospital to hospital, because, having neither health insurance nor enough money no one wants to help them.” The elderly, whose pensions have been cut in half, cannot even afford important medicine. Since the crisis began, the rate of suicides, on the other hand, has not been cut in half, it has doubled.
According to the report, one need be “neither a pessimist nor an expert, to imagine what this means for interpersonal relations” as well as “for the cohesion of Greek society.” Rage against Greek politicians and “international policy of financial installments flowing into bailing out the banks, but not the people,” is “tremendous and continues to grow.” A society that can provide at least protection from the worst, would be able to absorb this rage, but Greece no longer has even this possibility, explains the trauma therapist. In Greece “the functional society was progressively undermined until it collapsed like a dilapidated house,” because “the crisis has destroyed the welfare state.” Rage is now turning into aggression and violence. As a matter of fact, in traditionally hospitable Greece, attacks — particularly against migrants — have suffered a vast increase. “The number of violent mobs that attack minorities is growing.“
Human rights organizations have already been complaining about this for months. For example, following the murder of an Iraqi refugee in Greece, Amnesty International discerned a growing frequency of racist-motivated attacks. The UN High Commission on Refugees reported in October that between January and September, alone, 87 xenophobic-motivated attacks had been counted. This is “exceptionally alarming,” particularly in consideration of the fact that the actual numbers are likely to be far higher, since victims were either too scared to report attacks to the police or were turned away, when they did. The repressive forces are also using excessive force against migrants. In mid-November, the US Embassy in Athens issued a travel warning against a rise in violent attacks against persons who, because of their complexion, are perceived to be foreign migrants. Certain neighborhoods of Athens are considered “no go areas” for migrants.
Plans for a Putsch
In the throes of the crisis, the rapid rise of xenophobia that has overcome Greece is flanked by a just as rapid rise of the extreme right. The neo-Nazi Chrysi Avgi party (“Golden Dawn”), which is particularly known for its violence against migrants, won 18 seats in parliament in the last elections and — according to opinion polls — could win 12 percent today. Last fall, one of their parliamentarians declared that the party is waging a “civil war” against migrants and the left. According to publicist, Dimitris Psarras, who, for the past 20 years has been doing research on the Chrysi Avgi, “the escalation strategy (…) has a primary significance” for that party. “It is similar to the strategy of Italian neo-fascists in the 1970s and 80s: escalate the conflict on the streets, between the right-wingers and left-wingers — and in the case of Greece, the migrants — to create a climate of insecurity, so that a putsch can be justified.” Psarras points out that not only the Greek neo-Nazis, but even “serious media organs (…) are speculating on possible plans for a putsch.” He finds, “if the political and economic situation becomes even more instable and the society, more polarized, anything is possible.“
4c. Greek families can no longer to bury their dead.
Vanna Mendaleni is a middle aged Greek woman who until now has not had vehement feelings about the crisis that has engulfed her country. But that changed when the softly spoken undertaker, closing her family-run funeral parlour, joined thousands of protesters on Thursday in a mass outpouring of fury over austerity policies that have plunged ever growing numbers of Greeks into poverty and fear.
“After three years of non-stop taxes and wage cuts it’s got to the point where nothing has been left standing,” she said drawing on a cigarette. “It’s so bad families can no longer afford to even bury their dead. Bodies lie unclaimed at public hospitals so that the local municipality can bury them.” . . .
The reorganization of the Greece’s health system, under German direction, is advancing. “A final timetable is to be presented in the second half of this year,” declared the German Health Ministry (BMG). The German government sees deficits also in the lack of an “effective cost management,” but most of all in the lack of “competitive elements.” In a “Memorandum of Understanding” (MoU), the BMG and the Task Force for Greece (TFGR) have reached an agreement with the Greek government on the introduction of the highly criticized German-modeled so-called case flat-rates. The criticisms stem from the fact that patients are not being treated in response to their medical needs but on the basis of economic efficiency. The massive consequences the austerity measures are having on the public health in Greece are becoming more evident. A growing number of Greek citizens are losing their health insurance, due to unemployment and therefore must pay medical costs themselves. The shortage of medical aid, for example, has caused an increase of 40 percent in the child mortality rate since 2009. Diseases such as malaria or AIDS are spreading more rapidly. The German government continues to insist on its austerity course in spite of these ramifications.
Within the framework of the EU austerity dictates, Germany took the lead in the reorganization of the Greek health system back in March 2010. “The German Ministry of Health is in support of the Greek government’s measures to increase the efficiency and effectiveness of long-term health care, by substantial and effective transformations in the organization of its health system,” declared the State Secretary in the Ministry of Health, Stefan Kapferer in February 2011, on the occasion of the signing of the corresponding “Declaration of Intent.”  The concrete measures had been specified by the German Ministry of Health and the Task Force for Greece (TFGR) in the April 2012 “Memorandum of Understanding” (MoU) with the Greek government. These measures include the introduction of case flat-rates, a change in hospital management structures, the reorganization of the National Organization for Healthcare Provision insurance (EOPYY) and new pricing models for medicine. The German GIZ development aid agency was given the responsibility of the final elaboration of these plans, which thereby opens “new markets in industrialized countries.” .. . .
. . . . These proposed transformations are being implemented within the framework of the austerity measures being enforced by Berlin. According to the stipulations handed down by the Troika, Greece’s health expenditures should not surpass six percent of the country’s gross national product — in Germany these expenditures were at 11.3 percent in 2011. Since, as a result of the austerity policy imposed on that country, the Greek GNP has been on the decline for years, the expenditures for the health system are sinking drastically. By 2012, these expenditures were reduced to around 9.5 billion Euros, from 14 billion Euros in 2009. The Greek government has already shut down 46 of its 130 hospitals and cut the budget by 40 percent for those remaining. This has added thousands more to the unemployed created by the devastation of the health sector. . . .
. . . . Dr. Giorgos Vichas, speaks of a “humanitarian crisis.“ Since 2008, the child mortality rate has risen by 40 percent. The number of HIV positive drug users has risen from 10 — 15 in 2007 to 314 in the first eight months of 2012 alone — mainly due to the drastic cutbacks in preventive programs. Malaria and tuberculosis, the West Nile and dengue fevers are continuing to spread. . . .
. . . . “The interaction between austerity policy, economic shock treatments and deficient social protective measures seems to ultimately lead to an escalation of the health and social crises in Europe,” concluded a study by several scholars published in the renowned “The Lancet” medical journal, Epidemiologists, David Stuckler and Sanjay Basu drew the same conclusion in their book “The Body Economic — Why Austerity Kills.” . . .
6. Charging that Germany deliberately exaggerated analysis of the Greek debt, Zoe Georganta noted that Greece was experiencing “a new kind of occupation by the Germans.”
Greece said on Friday it would replace the board of its independent statistics service (ELSTAT) after two members resigned and another was quoted as alleging that 2009 deficit data had been artificially inflated.
It said ELSTAT chief Andreas Georgiou would keep his post.
The upward revision of Greece’s budget deficit in 2009 to 15.4 percent of gross domestic product exposed the scale of the country’s fiscal derailment and sped up the debt crisis which is still rocking the euro zone.
“The 2009 deficit was artificially inflated to show that the country had the biggest fiscal shortfall in all of Europe, even higher than Ireland’s which was 14 percent,” ELSTAT board member Zoe Georganta was quoted as saying by the Eleftherotypia newspaper. Georganta said the inclusion of a number of utilities under the general government inflated the deficit. She said this had not been handled according to Eurostat guidelines and that the chairman rejected the board’s objections.
“We have a new kind of occupation in Europe by the Germans,” Georganta told Real FM radio, adding that German officials at Eurostat put pressure on the government to inflate the 2009 deficit to justify harsh austerity measures. . . .
8a. The program reviews the European Monetary Union as the realization of the theories of Pan-German theoretician Friedrich List.
Writing in 1943, Paul Winkler foresaw that the Prusso-Teutonics would realize their goals through the creation of a German-dominated central European economic union (bearing a striking resemblance to today’s European Monetary Union.) One of the principal influences on List’s thinking was the “continental” concept of Napoleon, who attempted to economically unite Europe under French influence.
Charles Andler, a French author, summed up certain ideas of List in his work, The Origins of Pan-Germanism, (published in 1915.) ‘It is necessary to organize continental Europe against England. Napoleon I, a great strategist, also knew the methods of economic hegemony. His continental system, which met with opposition even from countries which might have profited from such an arrangement should be revived, but, this time, not as an instrument of Napoleonic domination. The idea of united Europe in a closed trade bloc is no longer shocking if Germany assumes domination over such a bloc—and not France. [Emphasis added.] Belgium, Holland, Switzerland, willingly or by force, will enter this ‘Customs Federation.’ Austria is assumed to be won over at the outset. Even France, if she gets rid of her notions of military conquest, will not be excluded. The first steps the Confederation would take to assure unity of thought and action would be to establish a joint representative body, as well as to organize a common fleet. But of course, both the headquarters of the Federation and its parliamentary seat would be in Germany. [Emphasis added.]”
8b. List’s doctrine was in full swing during Germany’s prosecution of the First World War:
. . . . This is a direct translation of [German Chancellor] Bethman-Hollweg’s internal memo on Germany’s war aims, from September 1914. . . .
“. . . . We must create a central European economic association through common customs treaties, to include France, Belgium, Holland, Denmark, Austria-Hungary, Poland and perhaps Italy, Sweden and Norway. This association will not have any common constitutional supreme authority and all its members will be formally equal, but in practice will be under German leadership and must stabilize Germany’s economic dominance over ‘Middle Europe’ . . .”
9a. The Listian model was put into effect by the Third Reich, as can be gleaned by reading Dorothy Thompson’s analysis of Germany’s plans for world dominance by a centralized European economic union. Ms. Thompson was writing in The New York Herald Tribune on May 31, 1940! Her comments are reproduced by Tetens on page 92.
. . . . The Germans have a clear plan of what they intend to do in case of victory. I believe that I know the essential details of that plan. I have heard it from a sufficient number of important Germans to credit its authenticity . . . Germany’s plan is to make a customs union of Europe, with complete financial and economic control centered in Berlin. This will create at once the largest free trade area and the largest planned economy in the world. In Western Europe alone . . . there will be an economic unity of 400 million persons . . . To these will be added the resources of the British, French, Dutch and Belgian empires. These will be pooled in the name of Europa Germanica . . .
“The Germans count upon political power following economic power, and not vice versa. Territorial changes do not concern them, because there will be no ‘France’ or ‘England,’ except as language groups. Little immediate concern is felt regarding political organizations . . . . No nation will have the control of its own financial or economic system or of its customs. [Italics are mine–D.E.] The Nazification of all countries will be accomplished by economic pressure. In all countries, contacts have been established long ago with sympathetic businessmen and industrialists . . . . As far as the United States is concerned, the planners of the World Germanica laugh off the idea of any armed invasion. They say that it will be completely unnecessary to take military action against the United States to force it to play ball with this system. . . . Here, as in every other country, they have established relations with numerous industries and commercial organizations, to whom they will offer advantages in co-operation with Germany. . . .
9b. The European Economic Community was formally articulated by Reich officials during the war, with the clear design to extend and amplify the arrangement after the war. Below, we quote Gustave Koenigs, Secretary of State at a 1942 conference about the European Economic Community.
. . . At the moment the so-called “European Economic Community” is not yet fact; there is no pact, no organisation, no council and no General Secretary. However, it is not just a part of our imagination or some dream by a politician – it is very real. . . .
. . . Its roots are in the economic co-operation of the European nations and it will develop after the war into a permanent European economic community. . . .
9c. A captured German document from April of 1945–a few weeks before the end of World War II–that very succinctly lays out the plans for postwar Europe.
THE EUROPEAN PEACE-ORDER
1. Liberation of the German people from suppression and occupation.
2. Repatration of the expellees (Heimholung der Verschleppten) [These are the vertriebene groups and the German ministry for Expellees–D.E.]
3. An integral German racial community.
4. Elimination of all arbitrary acts by the enemy.
5. European Union on a federalistic basis. [That IS the EU–D.E.]
6. Right to racial autonomy. [Note that, in the most recent German election, Polish citizens of German extraction were allowed to vote–D.E..]
7. European Common-Weal (“Gemeinnutz”).
8. European Court of Arbitration [The ICC is funded by Germany and is essentially a realization of this!–D.E.]
9. Community of related peoples with the final aim to create a Germanic Reich.
10. Common-wealth between Germany and Bohemia and Moravia.
11. Guaranteed protection of racial groups (“Volksgruppen-recht”).
12. Economic integration of Europe. [That is the EMU–D.E.]
10. As noted in the remarkable piece reproduced in its entirety below, the program Deutschland is imposing on Europe undermines the security of any wealth invested in the afflicted nations. Anyone or anything foolish enough to invest in Europe should be prepared to have their assets appropriated and/or negated at some point.
In addition, one should not lose sight of the fact that the “Final Solution to the Greek and Cypriot Crises” will, like previous, superficial steps to resolve the crisis, keep the Euro weak, benefiting Germany’s export-driven economy.
One wonders how much exposure U.S. banks have to European financial institutions. If the fears of a contagion of bank runs and capital flight destroys banks in the weaker Eurozone countries, how will that affect American lenders?
The “Europa Germanica” is deliberate and, to any honest analyst familiar with the historical record, preconceived.
The post below also notes the relative economic weakness of Germany itself. Suffice it to say that most Germans have not shared in the largesse of the past decade, although they have been spared the trauma visited upon other European citizens. They are exceedingly vulnerable to the propaganda of their own media establishment.
In all of the tortuous moments that have taken place with the European Union the one thing that has become apparent is a radical change of mindset. In the beginning there was a kind of democratic viewpoint. All nations had a voice and while some were louder than others; all were heard. This is no longer the case.
There is but one mindset now and it is decidedly German. It is not that this is good or bad or even someplace in between. That is not the real issue. The crux of the matter is that not all of the people in the EU are Germans and so they are not used to being treated in the German fashion, they do not live their lives like Germans and, quite importantly, they do not wish to be Germans.
There is the problem.
The Germans will do what is necessary to accomplish their goals. There is nothing inherently bad or evil about this but it is taking its toll on many nations in Europe. In the case of Greece they went back and retroactively changed the covenants of the bond contract. They did not actually admit this of course and they called it other names but that is what they forced on Greece. In doing so they got the bond holders to shoulder a good deal of the expense of the bailout of Greece. You can say, “Right,” you can say, “Wrong,” but that is what they did. They accomplished their goal.
Always remember that the Germans are under severe financial pressure. They are still paying the bill for the East Germans. They support Target2 and their economy is just $3.6 trillion which is a fraction of the entire Eurozone. They are trying to support a house with less than desirable supports.
Then we come to Cyprus and they make it complicated and put one bank with another bank and take money from depositors and call it a “Tax” and say that people and institutions are liable for where they keep their money when it is more than 100M Euros. All true of course but they do not allow for any “Rule of Law” or “Due Process” by the judicial system but just mandate that the money will be used to help pay Europe for a loan to the sovereign government. Then they also tagged senior bond holders reversing their position of the last years so now, so that it can now be said with accuracy; everyone is at risk. Consequently they have to pay less and they have accomplished several goals which are to punish a “Casino Economy,” to put Cyprus in the same position as Greece, which is not only bankrupt but a ward of the European Union, and finally to insist, by the use of money, that Cyprus succumbs to the German demands. Note that CDS in Europe (Markit iTraxx Financial Index) has jumped 22% in just one week.
It is the occupation of Poland in a very real sense just accomplished without tanks or bloodshed as money is used instead of armaments to dominate and control a nation. Politically you may “Hiss” or you may “Applaud” but there are consequences here for investors that must be understood.
First and foremost is that they will not stop. Nothing will be allowed to get in their way. It can be senior bond holders one day, bank depositors the next, the dismantling of some Parliament on the day after that, a wealth tax on corporations on Thursday, the disallowance of dividends on Friday; with every announcement to come on Saturday evening. The next week can be a cap on bank bonuses, a demand that the cap on bank bonus savings be returned to the State, a financial transaction tax that gets expanded and taxes all bond coupons and the list goes on.What might be, could be, and nothing, absolutely nothing, will be allowed between Germany and her desire to control all of Europe.
I do not speak of motivation here. I am not bashing Germany in the furtherance of their desires. That is a useless and unnecessary exercise. However, what is profoundly necessary, if you invest in Europe, is to understand the risks that you are taking. If you place money in securities on the Continent then what is yours is theirs when they want it. I suggest you clearly understand that proposition and allow for that occurrence.
You no longer have any excuse after Greece and Cyprus. Everything may be called “one-off” but nothing is “one-off” as Germany expands its power wherever they can and by any means necessary. If you believe the propaganda, if you believe what you are told every day by the Press then I can virtually assure you that you will suffer dire consequences at some point and you will now have no one to blame but yourself.
There is also one “unintended consequence” of Cyprus and Greece. No one is going to invest in the local banks. Keeping money in the German banks, the Swiss banks or maybe even the French banks may go on but the local banks in each country are finished. In a clever move, the problems with Greece and Cyprus will drive the money from the local banking institutions in the troubled countries. Watch for capital flights in Spain, Portugal and Italy as their banks will be found unsafe and with good reason.
It is unknown, as of yet, if Germany can win this game. What can be said though is that, nation or investor, you will put yourself at peril by getting in their way. The current risks, in my opinion, are dramatically more than imagined by many or generally thought to be the case. There is no more investing in Europe just gambling and speculating and suffering the consequence of either. Anything can be changed, anything can be modified, and when the forfeiture of people’s savings is trumpeted as a “Tax” then even the English language has lost some of its meaning.
“Better to be safe than sorry,” has never had such important consequences as it does now in the European arena of the Great Game.
11. For those who consider our analysis to be extreme and manifesting hyperbole, we present a devastating critique of German EMU policy vis a vis the peripheral economies of the eurozone. Discussing Cyprus as exemplary of German methodology and intent, Christopher T. Mahoney couches his critique in altogether unambiguous language.
Mahoney is a former Vice Chairman of Moody’s! In the article below, he sounds very much like–well–Dave Emory!
ENTIRE TEXT: “We anticipate the banking resolution mechanism for the Cypriot banking sector to result in a significant downsizing of banks’ activities and therefore to severely affect the economic performance of the island from 2013 onwards. We expect an acceleration in the contraction of the Cypriot economy in 2013, with a negative real growth rate in the low double-digits and no return to positive growth before 2016. Our view is further supported by the negative feedback loop that expenditure cuts may have on the economy given the importance of public services, hence potentially challenging future consensus on fiscal strategy. We note that large uncertainties remain regarding the magnitude of further recapitalization needs for the financial sector given the expected sharp deterioration in the operating environment which will erode asset quality, as well as the behavioural responses of all economic actors to the shocks experienced by the financial sector (including risks of financial disruption related to the timing and approach for lifting of capital controls). In light of all the downside risks and the limited number of upsides, we view Cyprus as likely to default again in the coming years, as reflected by the rating level and negative outlook. Although it is not its central scenario, Moody’s also sees a material risk of a Cypriot exit from the euro area which is captured in the Caa2 country ceiling. As a result of the immediate downsizing of the banking sector and the expected spillovers to rest of the economy, especially in terms of weakened consumer and investor confidence, we forecast that the economy will contract by 12% this year and another 6.4% next year.”
–Moody’s, 15 July 2013
The purpose of EMU is to reduce the occupied states to penury in order to make them more like Germany, or Ethiopia. Ultimately the question is is: how low can per capita income decline until “Europe” becomes a dirty word, and “liberty” becomes the popular desideratum. Cyprus is the laboratory of this experiment, along with Greece and Portugal. Here is the experiment: How many people must eat out of garbage cans before the euro elites understand that EMU is destroying lives?
It must be pleasing to be ingesting a nice Brussels dinner while discussing how subhuman the Cypriots are, and how they must be “taught a valuable lesson”. That was how Stalin felt about the “rich peasants” of the Ukraine: surplus empty mouths to feed. Wouldn’t the world be a better place without so many peasants?
Perhaps, in a perfect world, Cypriots wouldn’t exist, like the kulaks and the Crimean Tatars. All Cypriots do is enable Russian plutocrats. Why should they exist? Liquidate them. Indeed, liquidate all of the parasite states of the Eurozone.
So we now know that the purpose of EMU is not to enrich the vassal states, but to occupy them and to make them penurious colonies of the hegemon. Peripheral Europe is Germany’s Latin America. But there is a crucial difference: the US has not forced its Latin American colonies to join the dollar zone. Latin America, despite its colonial status, retains monetary sovereignty. Aside from the Bolshevik laboratories of Argentina and Venezuela, Latin America is outperforming its colonial parents. Portugal and Spain should have monetary union with Brazil and Mexico, instead of Finland and Germany.
What Germany is doing to Cyprus is a crime.
12a. A very ominous proposal has been floated by the Greek government. (See text excerpts below.) Not only does it suggest the possibility that the staggering unemployment rate among Greek youth be solved by “unpaid” employment, but floats the possibility that jobless young people be shipped abroad!
We wonder to where they will be shipped? What are they supposed to do when they get there?
All is not well in the “Cradle of Democracy!”
EXCERPT: Having spent weeks talking amongst themselves about the chronic and dangerous rise of youth unemployment in Europe (as we warned here), the Center of Planning and Economic Research in Greece has proposed a controversial measure. As GreekReporter reports, the measure includes unpaid work for the young and unemployed up to 24 years old, so that companies would have a strong motive to hire young employees.
“Unpaid” work sounds a lot like slavery to us… but it gets better; the report also suggested “exporting young unemployed persons.”
“Centre of Planning and Economic Research in Greece has proposed a controversial measure in order to deal with the problem of increasing unemployment in the country.
The measure includes unpaid work for the young and unemployed up to 24 years old, so that companies would have a strong motive to hire young employees. Practically, what is proposed is the abolition of the basic salary for a year. At the same time the “export” of young unemployed persons was also proposed to other countries abroad, as Greek businesses do not appear able to hire new personnel.“
Whether it’s Europe in the 1930’s or the US during the same period (conflicts between strikers, the National Guard and armed militias), unemployment can create a powerful cocktail of unrest. But turning your nation’s young into slaves does not seem like a good solution to us. . . .
12b. More about the proposal for de facto slavery for Greek youth:
EXCERPT: Centre of Planning and Economic Research in Greece has proposed a controversial measure in order to deal with the problem of increasing unemployment in the country.
The measure includes unpaid work for the young and unemployed up to 24 years old, so that companies would have a strong motive to hire young employees. Practically, what is proposed is the abolition of the basic salary for a year. At the same time the “export” of young unemployed persons was also proposed to other countries abroad, as Greek businesses do not appear able to hire new personnel.
According to the National Confederation of Hellenic Commerce, unemployment especially hits the ages between 15–24. The unemployment rate in Greece stands at 24.6% while 57.2% of young people are without a job. The majority of the unemployed (71%) have had no work for 12 months or more, while 23.3 % of the total have never worked. There were 3,635,905 people employed and 1,345,387 unemployed. . . .
13. Boding ill for Greek citizens, former LAOS party member and dedicated fascist Makis Voridis has been appointed Health Minister.
Good and bad economics news out of the birthplace of democracy.
The good news: According to the Wall Street Journal, Greece is seeing a boom in tech startups. Of course, that boom starts from a very low number, as the Journal reports:
“there were 144 startups in Greece in 2013, up from just 16 in 2010. The money invested in them has climbed to €42 million ($57 million), compared with just €500,000 three years ago.”
Most of the funding is geared towards servicing the sector of Greece that hasn’t been ruined by the past few years of EU-imposed austerity, which rules out a large percentage of under-35s, the presumed Internet generation. The unemployment rate for young Greeks aged 15–24 is 58.3%, while for 25–34 year old Greeks, the unemployment rate is 35.5%. Exciting new Greek startups attracting outside VC capital, like incrediblue— an online yacht booking service — and Taxibeat, a mobile taxicab hailing app — aren’t going to be much use to them.
Still, Greece’s “booming” tech sector is the good news.
Now, the bad news: Greece’s pro-EU ruling conservative party, the New Democrats, just named an actual neo-Nazi, Makis “The Hammer” Voridis, as Greece’s new Health Minister. Jewish groups are outraged over the news that Voridis—a longtime neo-fascist activist and anti-Semite who has publicly promoted the Protocols of the Elders of Zion as worthy of scholarship, and doubted the authenticity of the Diary of Anne Frank—is serving as a prominent minister in the ruling party’s cabinet, in charge of an important ministry at a time when Greece has been gutting its health care budgets, causing widespread misery.
I wrote about Voridis in November 2011, because I was shocked that a government coalition essentially imposed on Greece by the EU and Western creditors would demand that the allegedly technocratic “austerity coalition” included members of Greece’s anti-Semitic, neo-fascist LAOS party. Including Makis “The Hammer” Voridis, who served as minister of infrastructure and transport.
I call him “The Hammer” because photographs surfaced showing Voridis as a University of Athens law student, carrying a makeshift stone hammer in hand which he used to bash suspected leftwing students with. That was in 1985, when Voridis was in a fascist group called “Student Alternative” which supported Greece’s bloody military coup and military junta that ruled from 1967–1974.
Voridis was expelled from law school for clubbing leftist students, and went on to Big Things in the world of neo-fascist Greek politics. In 1994, he founded the far-right Hellenic Front, which in 2004 formed a coalition with a self-described Nazi, Konstantinos Plevris, who openly advocated for the extermination of Greece’s remaining Jews. In 2005, Voridis merged his party into the LAOS party, whose leader, Georgios Karatzaferis, publicly mocked Auschwitz and Dachau death camps as “myths,” blamed Jews for 9/11 during a speech in parliament, and said “the Jews have no legitimacy to speak in Greece.”
In late 2011, as Greece politics collapsed under the weight of its debts and the harsh EU-imposed austerity measures, the EU imposed a new “austerity” government that included “The Hammer” Voridis and other members of the neo-fascist LAOS party. The austerity government ran Greece until new elections were called in mid-2012. In those interim months, the austerity coalition pushed through radical austerity measures that caused LAOS’ fascist voters to desert them for an even more violent, more extreme neo-Nazi party, the Golden Dawn Party. One would’ve thought that’d be the end of Makis Voridis.
But Voridis is one of the slyer fascists. He joined the austerity cabinet and served from November 2011 through June 2012. In the June 2012 elections, after LAOS was obliterated for participating in the austerity government, Voridis abandoned LAOS and joined the new ruling party that won the elections, the respectable right-wing New Democracy party.
And now New Democracy is paying back the favor to their favorite austerity fascist.