deficit

The speech of the President of the EPAM, Dimitris Kazakis, presented at the Université d’automne conference, held in La Rochelle, France, 8/11/2019

Dear comrades,

The European Union is evolving more and more into an empire. On September 15th this year, Guy Verhofstadt, a Member of the European Parliament (MEP), the EU’s chief negotiator on Brexit and leader of the EU’s Alliance of Liberals and Democrats for Europe faction, spoke at a Lib.-Dem party congress of the United Kingdom:

«The world order of tomorrow is not a world order based on nation states or countries. It’s a world order based on empires… The world of tomorrow is a world of empires in which we Europeans and you British can only defend your interests, your way of life, by doing it together in a European framework and a European Union.» (more…)

MOSCOVICI ADMITS THE GREEK PROGRAM IS A “DEMOCRATIC SCANDAL”

European Commissioner for Monetary and Financial  Affairs Pierre Moscovici described  the Greek program of fiscal adjustment as a ‘democratic scandal’. In an interview to Italian newspaper Corriere dela Sera, Pierre Moscovici replied to a journalist question: “Why do you say that the program for Greece is a “democratic scandal”?

“It is a scandal with regards to democratic procedures, not with regards to the decisions themselves. But to decide in such a way about the fate of people, to impose in detail decisions about pensions, about the labor market… I speak about the basic details of the life in a country that have been decided by an organization behind closed doors, plans that have been worked out by technocrats without the minimum control of a parliament. Without that the media really know what it has been said, without fixed criteria or common guidelines

The interview was given on the sidelines of the Ambrosetti Forum in Cernobbio, Italy, over the weekend.

In his speech at the Forum, Pierre Moscovici criticized among others the way the Eurogroup operates and urged for democracy and transparency in decision-making structures that will help the euro zone.

“But I am convinced that the euro area will only have a truly bright future if we address three burning political issues: the lack of democracy in its decision-making structures; the need to ensure that a future European Monetary Fund is successfully built on democratic principles; and the economic and social divergences creating a dangerous political divide between countries.

The problem is a structural one. We are talking about decisions that are first prepared by officials – in almost complete opacity– and then taken by Ministers behind closed doors, often after very limited discussions,and with no formal rules. Unlike in a normal Council formation, the European Commission does not have the prerogatives in the Eurogroup to promote and advance the general interest of the euro area as a whole. Major decisions are taken on national budgets and reforms and no one is – or feels – accountable for these decisions to the European Parliament.

I would go so far as to say that this flaw in the governance of EMU is a democratic deficit, and sometimes in the past, when we look at Greece, it has been close to a democratic scandal.

As you can gather from what I have already said, I believe that our Economic and Monetary Union requires a quantum leap forward on the institutional front to fix this political vacuum. We cannot go on having the main decision-making forum for the euro area detached from the most basic democratic standards, as enshrined in the Community method.

Reforming the euro area’s governance is also a prerequisite for increased solidarity. Any strengthening of EU powers must be reflected in a more democratic euro area.”

I supposed, Moscovici has been thinking all the time that the Greek adjustment programs was implemented and enforced by aliens. It looks as if  the European Commissioner just stood at the many Eurogroup sessions watching stunned and speechless how the little mean creatures from outer space designed the future of every Greek child, man, woman and senior down to last detail and the imposed their evil plans to the country as a whole.

A short story of how a country can default in a few days

An example of what the systemic establishment calls as “conspiracy theory” and a story from the recent past we must not forget

Ελληνικά

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In 2000, Greece agreed with Goldman Sachs in a funding program (Ariadne), which has been renewed with new terms in 2001 leading to a second program (Aeolos), to supply money to the country. Greece granted the lenders the rights in using airports and gambling.
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The nature of this financial product was such that, lending appeared as selling and allowed Greece to (more…)

An astonishing revelation of unjustly fixed statistics!!!!

Eurostat’s failures greatly increase the size of Greece’s debt

ελληνικά

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Let us think for a moment what would happen if, all of a sudden, the debt of the French transport system, covering buses, trams, the metro, the RER and OPTILE and the PAM network for disabled people and so on, were all transferred to the government’s accounts. After all, the French transport (more…)

Petition against the visit of G. Papandreou in Edinburgh

Υπογραφές κατά της επίσκεψης (και ομιλίας) του Παπανδρέου στο Εδιμβούργο (μετά το αγγλικό κείμενο ακολουθεί κείμενο στα ελληνικά)

Against the visit of G. Papandreou in Edinburgh

On the 11th of June, George Papandreou, the former Greek Prime Minister who led Greece into the arms of the IMF has been invited to the TEDGlobal 2013 conference in Edinburgh. According to TEDGlobal, he is supposedly going to “draw lessons from the Greek debt crisis”, however, he is the very same person that during his premiership led Greece to an extreme humanitarian crisis. (more…)

Germany’s local finances

Hundreds of mini-Greeces

The economy booms, but many municipalities are strapped for cash

THE heart of Wuppertal is the Schwebebahn, a trolley dangling from a rail above the Wupper river. It is the lifeline of this river-hugging city of 350,000, Germany’s 17th-largest. Perhaps because it is unique, it is also expensive. The 110-year-old contraption is undergoing a €500m ($715m) modernisation; it drains €27m a year from the city’s budget. “Wuppertal is unthinkable without the Schwebebahn,” says the mayor, Peter Jung. “Nobody talks about whether it makes economic sense.”

Wuppertal has other glories, including an orchestra and a dance troupe. It embodies the belief that high culture belongs in the provinces as much as in bigger cities. But Wuppertal is poor. Textile production shrivelled by the 1970s. High earners left; needy immigrants arrived. Wuppertal now has a debt stock of €2 billion and pays its way with an overdraft. If it were a company, “it would have to file for bankruptcy”, wrote its treasurer recently.

Germany’s 11,000-odd municipalities had a deficit of €7.7 billion last year, the second-highest ever. The pain is uneven. Towns in the rich south were hit by recession. In other regions, including parts of North Rhine-Westphalia (NRW), the slump came on top of long industrial decline and years of fiscal rot. Municipalities face a “debt spiral” as interest rates start rising, says Martin Junkernheinrich of the University of Kaiserslautern.

(more…)