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The Greek
finance minister, Yanis Varoufakis, made a significant revelation
during a recent interview to the journalist Nikos
Chatzinikolaou, concerning the Hellenic Financial Stability Fund
(HFSF).
Prior to the
Greek elections, SYRIZA examined the possibility to use the deposits
of about 11 billion of the HFSF, to implement its program concerning, partly, the relief of the most vulnerable who were hit heavily by the crisis
in Greece. However, eurogroup did not approve this because demanded
that this amount should be used only for the re-capitalization of the
Greek banks, if necessary.
The amount
went finally to the European Financial Stability Fund (EFSF) to be
used in the future, if necessary. The eurogroup refused to return
even a 1.2 billions amount that the Greek government requested
(http://www.reuters.com/article/2015/03/26/eurozone-greece-efsf-idUSL6N0WS6EX20150326).
The chief executive of the Hellenic Financial Stability Fund (HFSF),
Anastasia Sakellariou, was forced to resign recently because of this
case.
However,
Varoufakis revealed that the main reason for which all the money
"flew" from the hands of the new Greek government, was
because the previous Samaras-Venizelos coalition accepted the
terms and the legal frame for the HFSF, under which the Greek Public
has absolutely no jurisdiction on the Fund deposits.
Therefore,
this is a total and official confirmation of what has been revealed
by the blog, back in January of 2014, that the Greek state has
absolutely no power on the Fund, through the article Greece:
The only "public" in banks is the debt that will be loaded
on future generations!
HFSF is crucial for the control of
the banking system, which means that a change in its legal frame
could give the Greek Public the real control. This explains to a
significant degree, why the previous neoliberal government was
anxious to sell off the HFSF shares to private financial
institutions.
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