April 25, 2024

News Cymru

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Samaras – Greece Starts Showing Some Back Bone

For the last 3 years it has seemed like the PASOK regime has folded like a handkerchief in the face of EU and Troika demands.

Now that Papandreou is more or less out of the picture and with Samaras having a more prominent role the Greek government now appears to be putting up some form of resistance to the extreme pressure coming from the Troika.

The Troika it is alleged, have demanded signatures regarding Greece’s commitment to the enforcement of the latest bailout, Samaras has said this is an insult to the integrity of Greece

Venizelos now also appears to be finding some backbone in resisting the bankers requests to completely replace the interim government with their members.

Venizelos appears to have decided to voice his opinion in the face of a full on banker take over with the possible appointment of Lucas Papademos, the ex Governor of the private Greek Central Bank and ex Vice President of the European Central Bank.

Fortunately Venizelos now appears to have changed his perspective and is resisting the demands of the international banking cartel.

Currently the Greek government appears to be in a little bit of chaos which is a positive step as it means any tax increases will be delayed but it is also a negative as any tax reductions are also off the cards while there is a stalemate.

Hopefully Greece will come to its senses and see that appointing the ex Central Bank of Greece governor who oversaw Greece’s now admitted, fraudulent entry of the country into the Euro is a bad idea.

How a Central Bank Governor who oversaw Greece’s fraudulent entry into the Euro can be considered as Prime Minister of the country is extremely unorthodox.

To quote Sarkozy

“Because Greece joined with figures that were false and it wasn’t ready. Its economy was not ready to assume its integration into the euro. If I remember correctly, this decision was taken in 2001 and we have paid the consequences these past few months.”

And not only was Greece’s entry into the done with deliberately cooked figures, these same figures have led Greece directly to the crisis it finds itself in today and yet the Greek political elite are saying one of the key players in the whole debt crisis fiasco should be made prime minister at the peak of the crisis he himself created.

To use a metaphor, it is like putting the financial controller of the Athens Olympics, which went 100% over budget, in charge of the Greek economy. Unfortunately that is not a metaphor, that is the current reality.

The games cost nearly C9 billion ($11 billion by current exchange rates), double the initial budget. And that figure that does not include the major infrastructure projects rushed to completion at inflated cost. In the months before the games, construction crews rotated around the clock, using floodlights to keep the work going at night.

Little is known about his views on finance and economics other than that he was in charge of preparing Athens for the 2004 Olympicsa project which mushroomed in cost, much of it state money.

There could be a pattern emerging of the guys who are one of the main sources of Greece’s political problems being brought it to try to save the country from the situation they themselves created.

In short I believe it would be a huge mistake for Papademos to be appointed prime minister.

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