Only yesterday we looked at what Greece must be thinking about Angela Merkel of Germany (and E.U. “leader”) wanting to give $76 million to refugees in order for them to leave the European Union when the same hellcat was not willing to give them a nickel to stay. The question asked was one that was far more urgent than had been thought when the article was birthed, for only one day later “Part 2” is born with news that Greece is again thinking of ditching the failing E.U. as they should have before. They also plan to telling Merkel how many different ways she can fold the Euro and where to place it when complete because they also want to drop the E.U.’s currency, too.
Now while it is not said or even hinted at that Merkel handing out a fortune like Christmas present to every refugee was the reason for this news coming in as it does only one day removed from the German announcement of the plan, it is quite hard to imagine that it played no role, as we predicted. Few people know that Germany MADE money off of Greece failing. Oh, the average E.U. working Joe did not enjoy it very much, but before anyone wants to argue that it is impossible, let us quote Forbes who sums it up as follows;
“Between 2010 and 2015 Germany profited from the ongoing Greek debt crisis to the sum of €100 billion, according to a new study. The billions consists of money saved by lower interest payments on funds the German government borrowed amid investor “flights to safety.” In English, Merkel hosed Greece and made a fortune doing it.…enough said.
Greece is wallowing in conditions that are not at all alien from third world conditions in some areas, or as Zero Hedge Blog puts it, “a more prolonged economic doldrums than The Great Depression.” Hackles were fully raised when Ted Malloch accurately said that not only did he have reservations about the longevity of the Eurozone, but he also suggested that if Greece is going to make it as a nation then they should flee the E.U. and return to their own currency that served them well for many years, the drachma.
The problem is the same every time that the name “Greece” is ever in the news anymore. No one talks about vacationing there anymore (who can afford that?) or touring there even from within the E.U. (more affordable), but instead, the talk is always of the International Monetary Fund (IMF). Greece can not afford to make the payments to their creditors (again) and they are being warned (again) that it could harm their “Troika” arrangement (yawn, again), and it may end in yet ANOTHER repayment scam.
The scam will be to used as the carrot and stick routine to keep Greece paying towards their own demise a bit longer before they leave or are thrown out of the E.U. anyhow. Greece always chases the carrot, they always gets the stick, and yet they stay stick to the idea of E.U. membership for reasons that no one knows.
Much of this is the fault of none other than the Greeks themselves. They over borrowed, they lived lifestyles way beyond their means, they hardly had a work week, and they over promised in terms of social promises. This would mean that “Greece should PAY!” except for the fact that every nation in the E.U. has lived beyond their means to the point that even millions of dollars are perhaps to be placed into the hands of the very people who helped nail shut the already closed coffin on Greece.
What Ted Malloch said that ruffled so many feathers was to be expected since it was truthful, and we all know, the truth has NO place on the world stage. His sin was saying that the E.U. “needs a little taming”, something that the United Kingdom already said by leaving tire tracks. His whole statement (printed below) does nothing more than ask the question of why we are (again) seeing Greece in the same situation no matter how many times they keep getting “helped.” If this “help” is meant as a life preserver for a sinking and needy Greece, it is made of lead. As such, Trump’s observant nominee for Ambassador to the E.U. does not think in it’s current form that the dying Euro can hold on much longer than 18 months.
Now if this is considered wrong minded in some way, is it more kind for him to lie? If a man is drowning, it it wrong to call for help? If a doctor see’s an illness, should the doctor keep it a secret because it may scare the patient while the cure is at hand? Likewise, if an Ambassador is to be a true friend to the nations that he is appointed to speak with, should he not at least try and warn them that the boat is taking on too much water?
A further problem in Greece is that, just like every time the bankers and lenders play a huge role in an economic meltdown, rather than pay their fair share, they bill the little guy – as if it was all the little guys doing. “He” bought the big screen TV….let us not mention that the bank sent “him” 75 pieces of junk mail using known physiological tricks that have long suckered people into buying things that they can not afford. Never mind the bankers helped steal everyone’s home from underneath them, let the little guy pay with austerity. Cut the little guy off from any help to pay for what the banks helped do to “him.” If anyone hearing this was “him”, would the vote to remain in the E.U. be one of pro or con? The answer is clear.
The European Union can blame Donald Trump for what happens if Greece leaves the E.U, but Trump was still in his late 30’s when the groundwork for Greece’s departure was set. It would be like blaming Trump for the Vietnam War. Instead, now that Greece see’s that there is still an England after Brexit and that they had been lied to about their own Grexit, they simply have had enough, perhaps. Then again, Angela Merkel may just stand there too perplexed to understand why this happens because after all, matters of economic fact are all Greek to her.
(Comments from Ted Malloch on the future of the Euro. For more comments see the root article here)
“Whether the eurozone survives I think is very much a question that is on the agenda,” he told Greek Skai TV’s late-night chat show Istories. “We have had the exit of the UK, there are elections in other European countries, so I think it is something that will be determined over the course of the next year, year-and-a half.
“Why is Greece again on the brink? It seems like a deja vu, will it ever end? I think this time I would have to say that the odds are higher that Greece itself will break out of the euro.”