Alpha Bank & Eurobank Merger – The Problem is the Solution, Obviously

As a sign of the corrupt times we are living in and if it could not be more obvious that the banks actually run countries and not politicians the news today is that Alpha Bank in Greece and Eurobank in Greece will probably merge.

So to clarify, in 2008 the Greek government was forced to bail out these same banks because they were too big too fail. It was said that these banks were such a big part of the Greek economy that they couldn’t be allowed to go bankrupt not matter how badly run they were.

So every child, man and woman in Greece gave 2,800 Euros to the biggest banks in Greece to stop them from going under. I think everybody agreed at the time that….

1. This is not a good idea, the banks should be left to go bankrupt. At the end of the day if you can’t pay your mortgage the bank is going to take your house.

There is no bail out for you so why for the company that would take your house?

and

2. That if the government insisted on bailing out the banks (because the people were not given the chance to vote on the bail out). That if the banks were too big then this was a bad situation and that the banks needed to get smaller to bring some stability to the money supply in Greece.

so to recap
1. People did not want to give money to the banks
2. Banks needed to get smaller to give stability

So after 2 years, what do we have? 2 of the biggest banks probably merging to create a bigger bank and so at the same time making a bigger problem than in 2008 when everyone decided that the problem was already too big.

And what does the Greek government say to this? The Greek government has apparently been trying to get the big banks to merge since the crisis! If this is not an indicator that the banks control the government I do not know what is.

So in short, the Greek government welcomes the merger of Alpha Bank and Eurobank.

Without wanting to sound redundant, the Greek government has said it was forced to give money to the Greek banks in 2008 because they were too big too fail and now in 2012 they are saying that it is a good idea for the banks that are too big to get even bigger.

It could not be more obvious what is happening here, Greek ministers are suffering from cognitive dissonance but I am not sure how much discomfort they feel from it.

They say they want to do one thing but they actually do the exact opposite.

If you take everything that Venizelos & Papandreou says and believe the exact opposite of what they say, you will be much, much closer to the truth

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