COMMENT: Pondering the continuing eurozone mess and the enslavement of Greece, one wonders if indeed the bailout(s) are designed to fail. The Financial Times article below features commentary from one observer who wonders about that possibility. (Kudos to “Pterrafractyl” for researching that one for us.)
Certainly, the plans to slash wages will inevitably depress the Greek economy still further. The proposed [mandatory] reduction in spending on medical care and pharmaceuticals will inevitably effect a quasi-eugenics program, in which the elderly and infirm will be culled from the herd.
This is a way of effecting a Nazi-style purge of Greek society, and doing so during a von Clausewitzian-style “post-war.”
(As we have seen in the past, the Nazi eugenics laws and programs were not only derived from intellectual schools regarded with great favor in the U.S. and U.K. [among other places], but the programs the Third Reich implemented were celebrated by American and British intellectuals.)
. . . . “The program is much, much more ambitious than economic reform,” said Mujtaba Rahman, Europe analyst at the Eurasia Group risk consultancy. “This is state building, as typically understood in traditional low-income contexts.” . . .
. . . .Among the measures that must be completed in the next seven days are reducing state spending on pharmaceuticals by 1.1 billion euros; completing 75 full-scale audits and 225 value added tax audits of large taxpayers; and liberalising professions such as beauty salons, tour guides and diet centres. . . .
. . . . Mr Rahman said the scale and the speed of the reforms demanded raised questions about whether sceptical euro zone lenders were setting up Greece to fail sometime within the next year.
“Even if one understands the political imperative, the program is being set up to fail as many of the targets will be impossible to achieve,” he said. . . .
COMMENT: It appears that some circles in Germany (and in some of the major financial houses of Wall Street) are expecting the Greek bailout to fail and (at least in some cases) seeing that as a good thing.
This raises more questions than it answers, including the possibility that someone could make a great deal of money by buying short on something that would be expected to plunge in value if Greece defaults.
If a Greek default, perhaps in combination with a Europe-wide recession, were to send the U.S. economy into recession, it would benefit the GOP candidates. As we have seen in the past, the Republican party is closely connected to the Underground Reich and the postwar Nazi diaspora.
The British and French are opposed to allowing Greece to go bankrupt.
. . . . The rumbling calls for Greece to face bankruptcy come amid fears that even this latest bailout will not be enough to stop the nation sinking further into debt.
Hence the secret plans for bankruptcy.
Officials say Greece’s public debt will still be 129 per cent of GDP in 2020.
Concern about continual bailouts has also reached Wall Street with rumours circulating that banks are preparing for a “credit event” soon after March 20 — that’s financial jargon used by credit agencies to mean a default or in even simplier terms someone unable to pay their bills.
March 20 is the deadline for Greece to pay €14.5bn to creditors.
Inside Germany there are deep divisions over whether to continue to support Greece.
Bavaria’s finance minister Markus Soder said the stability of euro as a world reserve currency is more important than Greece’s welfare.
“It would be better if Greece stepped out of the euro,” he said.
Last week BankingNews.gr, a Greek language business news site claimed that “the actual position of Germany is that Greece should go bankrupt.” . . .
. . . . French premier François Fillon said it was “utterly irrepsonsible” to put the idea of a Greek default into play.
While Britain’s Foreign Secretary, William Hague, said it would be a technical nightmare if Greece is forced out of EMU.
“They don’t have the old currency sitting in the vaults ready to distribute. It’s not straightforward to leave the euro. It was built without exits,” he told the BBC’s Andrew Marr show.
But could the Greeks kick themselves out of the Euro?
It’s entirely possible. In April Greece goes to the polls and there’s a chance the hard Left Syriza party could form government. . . .