It so happened that German finance minister, Wolfgang Schaeuble – don’t ask how his name is pronounced – has revealed to his wide-eyed compatriots at an election rally – yes, Germany is having an election in September in case you’ve missed it – that Greece would have to be given more money to stay afloat. Chancellor Angela Merkel didn’t dare say it when she was quizzed a few days ago by students in a school she popped in all of a sudden, to promote herself as a dynamic leader with fresh ndw policies. But now one of her ministers came clean on the subject, although pretty much everyone knew that this would be the case.
What Mr Schaeuble didn’t say, though, that out of the €240 odd billion that were given to Greece since 2010 by the European Central bank and the International Monetary Fund two thirds went to pay off debts to big banks that are charging extortionate rates of interest. Which basically means that the bailout programme for Greece is basically servicing the debts to banks that should have been frozen or even written off. Because this game that the European Union is playing is making matters worse, not better, making the debt crisis worse.
The current bailout runs out in the end of next year and the situation in Greece, even with all the austerity and public spending cuts hasn’t improved much. In an ideal world Greece should have been released from the Eurozone a long time ago and let it sort out the crisis itself, regaining the ability to take its own decisions on the rate exchange of ots currency, boosting exports. But the fanatics, and I have no other word for them, who run the EU are terrified to let Greece go because they know that it would signal the end of their beloved single currency that allows them to run the Union the way they want.
The hypocrites sitting in Brussels keep on banging these days that they need more mot less control over the finances of members nations, as if their handling of the EU finances is not an example of incompetence and mismanagement. For the past 18 years the auditors have not signed off a single EU budget. And yet no one got the sack for it and no one was investigated for it. Just like the European Central banks have been getting away with murder in the past 5 years, as it was bailing out failed banks and printing new money like there was no tomorrow, creating a ticking time bomb situation in the European economy.
The reason why Angela Merkel, one of the main architects of the current problems, has not been frank with her people about the Greek bailout is because she is standing for re-election. So he distanced herself from reality and pretends that things are going well in the EU. Bizarrely, some dodgy stats have been produced recently showing the EU economy as a whole grew by 0.3 per cent in the second quarter of this year. And if you believe that you can believe that the euro was the best things for Europe since Nazi Germany lost the Second World War.
It appears EU politicians have decided to treat their people as total idiots and feed them rigged stats and empty promises, hoping that something will work out itself in the future. It won’t, until the banks keep ripping off whole nations while pulling all the strings in the corridors of power.
Mark my words, a big war is on the cards again.