KW: Yanis Varoufakis the dethroned former Greek Finance Minister is one smart cookie who understands the big picture and his opinion deserves attention. Mostly it’s just common sense speak however the Greek crisis is a humanitarian crisis much more than a financial one. Pensioners have seen their income cut by half, in some cases more. Medical services are under huge pressure, with some drugs no longer available. Unemployment is officially 23 per cent, with youth unemployment double that. Austerity has caused the Greek economy to shrink by 25% in the last decade making it impossible for the economy to advance in the demanded reforms as Greek assets have been looted by banksters, now the major criminal force in the world. So this is not just a technical issue about the most appropriate form of debt relief for Greece. Nor is it one just about fairness in treating different eurozone member states. Nor even it is one just about the future of the eurozone, or indeed about economics at all. All these matter, but one thing matters more. This is a humanitarian issue, for the Greek people are facing a social and human catastrophe. Continuing with such aggressive behavior will only lead to more countries eventually succumbing to the same status as Greece.
A short story of how an entire nation was sacrificed to save the banksters
Former Greek Minister of Finance with Tsipras Administration, Yanis Varoufakis, gave another interesting interview on Greek TV recently, revealing further interesting details about the Greek situation and the European situation after the eruption of the 2007-08 major financial crisis, Brexit, refugee issue and the rise of Far Right in Europe.
In a small part of the interview, Varoufakis told the short story of how the German chancellor, Angela Merkel, sacrificed an entire nation (Greece), in order to rescue the German and the French bankers. This explains also why the French president, François Hollande, was only pretending that he was on the side of Greece, while in reality he was hiding behind Merkel and did nothing to protect the country from the orchestrated destruction imposed by IMF, ECB and the European Commission.
As he said:
The reason for the huge loan that was given to Greece in 2010 has nothing to do with saving Greece from bankruptcy. It has sunk Greece deeper in bankruptcy. It’s very simple: it has been given so that a direct finance of Franco-German banks would not be necessary.
In 2009, Mrs. Merkel experienced a big shock. Some of her advisers called her and told her that the Frankfurt banks (especially Deutsche Bank, having exposures of more than 30 times the German GDP) had bankrupted as a consequence of the huge financial crisis that has started from Wall Street and the collapse of Lehman Brothers.
So, Mrs. Merkel was forced to ‘swallow a glass full of political poison’ by going to Bundestag to ask for 500 billion euros for the German banks which until a few months ago were swimming in profits. She was very angry, she couldn’t accept it because she was a politician that actually represented principles like saving resources, not spending taxpayers’ money, and suddenly, she had to take 500 billion from the taxpayers to save the bankers. She thought, ‘I did, it’s over, let’s move on.’
A few months later, the same people called her and told her that they want another 300 to 500 billion for the same banks. They said (as an excuse apparently), that this time we have Greece that is bankrupted, so if Greece default on its debt Italy will be next and we will need another 500 billion.
So, what happened then is very simple: Merkel went again to Bundestag, yet she didn’t dare to request again money for the German and the French bankers. She requested money in the name of ‘solidarity’ to Greece.
Therefore, the money ended to save the Franco-German banks through the Greek Ministry of Finance. This was the first memorandum for Greece.