A
special message to Yanis Varoufakis
by system
failure
Despite the
positive announcements in the right direction by the new Greek
government, which we should wait to see in practice, there are some
key moves that should be done, related to the economy autonomy and
debt relief.
1st:
Nationalize central bank
The first
important thing is to nationalize the central bank. The Bank of
Greece (BoG) appears to be a private institution that determines the
economic policy of the country. BoG "is a partially state
owned S.A. share company with special privileges, with special
restrictions and duties. It cannot operate as a commercial bank and
the percentage of shares that can be under Greek state ownership
cannot exceed 35%."
(http://en.wikipedia.org/wiki/Bank_of_Greece)
According to koutipandoras.gr, currently the percentage of shares
under Greek state is only 6% and no one knows the major private
stockholders, while stocks have been put in the Athens stock market.
(http://www.koutipandoras.gr/article/9242/i-idiotiki-trapeza-tis-elladas-kai-ta-paradoxa-tis)
How is it
possible the central bank to serve nation's interests when it belongs
to private bankers? Very simple: It's not. There is currently some
difficulty to nationalize the bank due to the complicated status of
the ownership regime, but there could be many alternatives to be
exploited by the Greek government right now.
2nd:
Audit of Public Debt
Write off is
not possible without an audit of public debt which must be done by an
international committee. In case that SYRIZA and its partner
Independent Greeks party haven't already start such an action in the
background, they should start it immediately.
This is
essential to examine the conditions under which the Greek state was
loaded with such a huge debt. It is important to know who speculated
from the Greek debt case inside and outside Greece, not only for the
Greek people but also for the European people. The part of the debt
which would be proved illegal should be written off.
Of course
current German and European leadership and eurocrats, as well as
domestic Greek oligarchy will fight fiercely such a perspective
because most of them serve those interests that speculated with the
Greek debt.
3rd:
Prepare for Grexit and return to national currency
The
government should be prepared for such a condition in case that the
European and especially the Germans insist on the cruel line of the
catastrophic austerity because eventually, the return to national
currency may save Greece from this vicious cycle of death.
The
government should take all the necessary actions including technical
details. It's possible that the government already has such a secret
agenda as a last defence line: “... the ECB will blackmail the
government by threatening that will not purchase government bonds,
therefore cut liquidity, in case that Greece choose a different path
towards the reconstruction of the social state and labor rights,
bringing minimum wage at pre-crisis levels, etc. However, the system
shows signs of panic, which means that the European officials don't
know exactly how SYRIZA will react. In case that SYRIZA has a secret
agenda, and be pressed by the lenders beyond red lines, it could
nationalize the central bank and return to the national currency,
blowing up eurozone.”
(http://failedevolution.blogspot.gr/2014/12/various-scenarios-for-national.html)
It is worth
to remember that according to a 2011 article in Guardian “Rumours
abound in Dublin that the Irish central bank is back printing punts
just in case the eurozone does break up. And while that may be true,
I don't know, but one would hope that there was some contingency plan
in place just in the case the whole euro projected exploded. Then
again, given the track record of European policymakers in dealing
with the crisis so far, it wouldn't come as too great a shock if
there was no plan B in existence.”
(http://www.theguardian.com/business/ireland-business-blog-with-lisa-ocarroll/2011/sep/26/eurozone-crisis-ireland-euro-punt)
This would
be the worst scenario for the Frankfurt-Brussels axis, as the
banksters and the lobbyists will probably see their dream of the new
Feudalism breaking to pieces. The experiment in Greece will be
terminated for good.
You forgot a critical step: Audit, investigate, prosecute and jail all signatories and their associates involving the original deals of getting into the Euro in the 1st place. Papandreou walks off with 550M Euros slipped into his mother's bank account and he actually has the gall to, not only set foot in Greece, but actually run again in the snap election. Oh and one more detail: nooses.
ReplyDeleteSyriza for Greece is actually a revolution, but no one has yet understood that.
ReplyDeleteRevolutions must be taken seriously, they require Gravitas.
Military Tribunal/Court. Prosecute as traitors for selling out the country! Firing Squad. (Example Gounaris.)
Politicos should learn there are consequences for their actions.
I guarantee every Euro Nation will reconsider their stance.
http://www.hermisgreece.com/
ReplyDelete