The PM of Greece Tsipras sold out Greece and did everything that the IMF and the Troika wanted and against the populace of Greece who voted against it. One major item is a large part of the Greece’s assets is possibly up for liquidation.
What are these assets? For the answer we go to the horse’s mouth, Jeroen Dijsselbloem, who laid out the holdings of the proposed Greek privatization that would be sold off as follows: “it still is going to be an independent fund, valued at €50 billion which can be airplanes, airports, infrastructure and most certainly banks.”
..In other words, Greece will be liquidated piecemeal to repay creditors. In even other words, the proceeds from the Third Greek Bailout will not only not reach the Greek people, but Greece will have to sell itself in pieces to top off the creditors’ funding needs. (ZH: 7/13/2015)
If the deal passes parliament , not only will a large chunk of Greek assets and banks be sold off at fire sale prices, but depositors will soon get and haircut. What is also not mentioned is that with the crisis , many private valuable companies are going bankrupt and will also be purchased by oligarchs at fire-sale prices.
In short, the Syriza party has sold out the populace just as they have been doing since their election by looting pension funds and municipalities. Both the left and the right previously installed by the oligarchy followed the same script. Are we really surprised anymore ?
Short History of Bailout
What happened to all the money given in bailouts since 2010 – went to the Western Banks of course.
Only a small fraction of the €240bn (£170bn) total bailout money Greece received in 2010 and 2012 found its way into the government’s coffers to soften the blow of the 2008 financial crash and fund reform programmes.
Most of the money went to the banks that lent Greece funds before the crash.(Guardian June 29)
So it has followed the same script the IMF and the oligarchy uses to loot for the last 50 years:
- Create Crisis – in this case, the inappropriate Euro currency foisted upon Greece – with the help of investment banks to hide their true financial situation.
- Install puppet regimes on the right and left (same is true in the US and Western Europe). A false didactic that keeps the masses enthralled with the “we win – you lose” back and forth every few years.
- Squeeze economically after making them debt salves. We are at this point today in Greece. The big banks have been saved by issuing more debt to Greece which was used to pay down the external debt. Now, Greece is a trapped rat.
- Hold fire sale of assets allowing international oligarchs to scoop up distressed assets. This is happening now and will gain speed with the sale of state assets.
- Eventually write-off the debt and stabilize the system. Reaping huge rewards to he oligarchs, but leaving both the target country and the public in the West the debt write-offs ! They have socialized all the losses and privatized all the gains.
We have seen this same strategy in Ukraine in this post, and the almost exact model is Argentina that suffered from an inappropriate currency peg – here. The video in the Argentina links reads exactly like Greece. The IMF/World Bank has been playing the same game since their founding.
Why do we put up the IMF, World Bank, and the Central Banks ?
Who gave them these powers and why ?
Why do these leeches get to work tax-free and then help the oligarchs loot the world ?
Why do we give them any deference ? What does IMF stand for ? Incorrigible Mother F**kers ?
Why do we allow this to happen, when it was an easy prediction we would end up in this state in Greece ? All the stupid moron analysts in all the banks, think tanks, political parties, governments for the past 5 years have been going on and on…yet a 10-year old could see the pattern by just reading up on a little history. Why are humans such gullible sheep ?
Someday humans will take back their power from these elitist institutions and live more freely. We don’t need any of them and our societies would be much better off without them.