October 3, 2023

News Cymru

Two sides to every headline

Greek Debt Crisis Culprit to be Prime Minister?

One of the main men involved in Greece’s fraudulent entry into the Euro could be made Prime Minister of Greece.

Lucas Papademos was the governor of the Greek Central Bank when the country entered the Euro with false accounting, something which has led directly to the Greek debt crisis.

Greece, over the past 10 years has been able to rack up massive debt on the basis of false economic figures which made the countries finances look far better than they actually were.

The false accounting of the Greek government finances gave investors in Greek government debt the false impression that the country was in better shape than was actually the case.

This has led to Greece getting into debt far and above what it is actually able to service

And yet, one of the key players in the management of Greek public finances, at the time of the false accounting, is being put forward as the favourite to become prime minster of the country during the debt crisis which he himself helped create.

And as if being Governor of the Greek Central Bank during Greece’s entry into the Euro was not bad enough, his next job was vice president of the European Central Bank (ECB)

During which time he oversaw Greece’s government racking up its debt into the mountain we see today.

For someone who was so intimately involved with factors that has led Greece to a probable default, to be put forward as the man who can help Greece out of the hole, is complete and utter stupidity.

How Papademos with his appalling record of managing Greek finances be in a position to become Prime Minister shows, in my opinion, the massive control the banking cartel has over Greece.

The Papademos appointment is by no means certain as yet as there are sticking points.

If you can believe it, the sticking points are as follows.

Papademos wants to appoint more of “his people” into senior positions of the Greek interim government, as if he on is own was not enough to do serious damage.

But not only that, another sticking point is that he wants to be able to extend the duration of the interim government from February next year. Greek politicians should be very wary of these demands

Another demand Papademos has put forward is that more ND politicians should be part of the interim government’s cabinet.

This is an obvious ploy to further destroy the Greeks faith in democracy by literally involving all politicians in the malaise that is the current economic situation.

ND in my opinion should stay well away from this “offer”. This move will obviously tar them with the same brush as the PASOK regime, which has succeeded in destroying the Greek economy over the past 3 years.

ND should reject or keep to an absolute minimum their involvement in the current regime to avoid voters being able to literally say “all politicians are the same”

If ND were to fold to these demands, the end of democracy on Greece will be one step closer as the people will be one step closer to accepting an unelected government.

If Samaras is as committed to the future of Greece as he says, then he needs to stay strong in the face of the bankers.

Get the latest updates in your inbox