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Greek Bailout: An Act of Treason Against the People
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Greek Bailout: An Act of Treason Against the People

Source: 21stcenturywire.com
What else will Greece face in the wake of Troika’s financial reform package?

As a bailout deal has been struck, there are serious implications ahead for the people of Greece, some of which was recently pointed out by Zero Hedge:

“Yes, Greek banks may have been insolvent – something that was clear since the first bailout of 2010 -but at least the Greek state had control over them: as such it could have mandated mergers, recapitalizations, liquidity injections, even depositor bail-ins (perhaps the harshest lesson for the ordinary Greek population as a result of this latest crisis is that deposits are not “cash in the bank” but liabilities of insolvent financial organizations).

The article continues linking to a Reuters piece that reveals the dark reality agreed to by PM Alexis Tsipras, perhaps exposing his true role all along:

“One of the preconditions imposed on Greece for a deal is that it signs into law European rules that would put euro zone authorities at the ECB and in Brussels, rather than Athens, in charge of identifying and closing or breaking up sick banks.

This in turn could lead to a shake-up of the sector that could see some banks close, with losses pushed onto bondholders and possibly even large depositors. In such circumstances, there would be little that Athens could do to prevent this.”

With Greece having its third bailout in five years, the hopes of leaving the eurozone are all but shattered at the moment, as they face a worse financial situation – one which could see more social upheaval and political divide in the near future.

Even the BBC acknowledges that the new bailout for Greece will be a brutal process:

“Greek Prime Minister Alexis Tsipras will have to rush key measures on pension reforms, tax increases and a debt repayment fund through parliament. It will be a bruising process. Only then will bridging loans be released that will enable Greece to meet a payment to the European Central Bank next Monday.”

In a telling report from Tovima, we learn that, “According to recent surveys conducted by Greek statistics authority ELSTAT on the income and living conditions, the Greek people appear to be disappointed with life and work, as 4 in 10 are unhappy with life, finances, work and their living environment. This rate increases to 6 out of 10 for people whose income is near or under the poverty line.”

Below Global Research expands on the many consequences of this latest Greek bailout…

Prime Minister Tsipras’ Bailout Reform Package: An Act of Treason against the Greek People

After having launched a Referendum to refute and refuse the debt bailout agreement put together by the Troika, Prime Minister Tsipras together with his newly instated Finance Minister, comes up four days latter with an austerity package broadly similar to the one which was turned down by the Greek government in June.

This about-turn had been carefully engineered. The Greek people were misled and deceived. The Referendum was an outright ”ritual of democracy”.

Tsipras had made a deal with the creditors. He was in favor of accepting the demands of the creditors all along.

Tsipras led the “NO” campaign while having already decided that in the wake of the Referendum, he would say YES to the creditors and cave in to their demands. This is tantamount to an Act of Treason.

There was no attempt by the Tsipras government in the immediate wake of the Referendum to renegotiate or extend the deadline on behalf of the Greek people in response to the NO Vote. On Monday morning, the day following the Referendum, Yanis Varoufakis who had led the negotiations with the Troika resigned as Finance minister. Did he wilfully resign or was he “dismissed” to facilitate an agreement with the Troika?

Creditors are known to influence appointments to key ministerial positions.(e.g. South Korea, December 1997 at the height of the Asian Crisis, the Finance minister and the Head of the Central Bank are dismissed on the orders of Washington).

[...]

Read the rest: 21stcenturywire.com

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