Briefing For A Descent Into Hell

[Raúl Ilargi Meijer]

Ben Shahn “Scene in Jackson Square, New Orleans” 1935 Oh well, some are more equal than others. One day after Eurogroup head Dijsselbloem says France
[See the full post at: Briefing For A Descent Into Hell]

[TheGreekOne]

In the Ukraine, the Presidency attempts to boss and blackmail the Central Bank around in what seems to be mainly a financial issue. In the EU, the Central Bank attempts to boss and blackmail Greece around in what seems to be mainly a political issue.
Both Porky Wonka and Draghi are seriously oversteping their authority. Ok, Porky has still half an army and the US and NATO backing him. I hope Draghi has a lots of boots on the ground to enforce his decision when the time comes this March and Europe crumbles for the price of 1bn euros. For ECB is never supposed to be above the member states or the Commision and dictate policy on the EU (i.e. this “Greece must first fullfil its austerity obligations and continue with the program before getting its money to finance its needs – ECB didn’t sign anything” nonsense). Seriously, these micropolitics between bureaucrats, bankers, technocrats and politicians will be the end of the EU project! Or is it just the fact that central banks are trying to rule the world?

[Raúl Ilargi Meijer]

I’m reading this piece, can’t remember where it came from. Very much worth your time for background on Greece. It’s from late 2014, so pre-Syriza election victory.

Misrule of the Few – How the Oligarchs Ruined Greece

Greece’s accession to the European Union, in 1981, was supposed to improve things. EU membership, however, did not weaken traditional Greek hierarchies; it strengthened them. [..] By bailing out Greece without demanding fundamental reforms, the ECB, the EC, and the IMF have only strengthened the status quo.

Even worse, the troika has lined the pockets of the very forces that brought about the economic collapse in the first place.

And Greece is not an isolated case. European bailout funds have had a similar effect throughout the smaller economies of the eurozone, including Ireland, Spain, and Portugal. Leaders in these countries, too, have spent European funds to maximize their short-term political advantage..

[Author]

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