Facebook Twitter Google+ Shout YouTube SoundCloud RSS

More British (Banker) Fear Mongering Over Greece’s New Syriza Government

21st Century Wire says…

It’s fairly simple to detect which politicians are under the thumb of the central bankers. Just listen to how they react when someone refuses to accept more debt.

A perfect example here is the British Chancellor Exchequer, George Osborne, a man who claims to know how to balance everyone else’s cheque book, except his own…

1-UK-Debt
(Source: Debt Bombshell)

Incredibly, Osborne claims that if Greece is allowed to escape the EU debt nuse, then this could destabilize the world in the same way as a major conflict in the Middle East.

Between his Bilderberg meetings and lecturing Greece on economics, Osborne has been busy borrowing hundreds of billions of pounds per year by selling “Gilt’ bonds on behalf of Her Majesty’s Treasury. The proceeds from these bond sales are spent by the UK Government and that value is added to our national debt. Osborne’s spending is so far out of control now, that interest alone on Britain’s debt is costing the country at least £42 billion per year (which is roughly the same size as the UK Defense budget).

Osborne can only afford to make his interest repayments by selling even more bonds, which makes his whole operation a Ponzi scheme.

According to recent records, as of Q1 in 2013, Osborne’s debt was running at £1.377 trillion, which is a whopping 88.1% of total GDP, and the debt is rising at a rapid rate, so expect subsequent numbers to be much higher. Is that really sustainable?

It’s for this very reason that Syriza’s new finance minister, Yanis Varoufakis, has told the EU Troika banking elite to go and take a hike back to Brussels. In other words, Yanis told the bankers that Greece does not want any more debt dumped on it by the same interest-thirsty bankers whom Osborne surely represents.

(Learn more about British national debt at Debt Bombshell.com)

Let’s see what George is wanting to “teach” Greece…

1-Syriza-Yanis
Greece’s Syriza govt could pose ‘greater risk to global economy than Middle East conflict’ – Osborne

RT OpEdge


Greece’s standoff with Eurozone governments and international creditors poses a greater threat to the global economy than conflict in the Middle East, climate change and rising tensions between Russia and the West, UK Chancellor George Osborne says.

After a meeting with Greece’s new finance minister, Yanis Varoufakis, Osborne implored Greece and the Eurozone’s 18 other states to act “responsibly” as the newly elected Greek government attempts to renegotiate the country’s €240 billion (£180 billion) bailout program.

Since coming to power in late January, the largely leftist Syriza government’s challenge to the austerity diktats of EU policy makers has been made clear.

As it continues to collide with Eurocrats over plans to reverse draconian austerity policies and renegotiate the country’s debt burden, concern is growing among neoliberal governments and international creditors alike.

Following his meeting with Varoufakis on Monday morning, Osborne said the discussions were “constructive.” But he warned that the current impasse between the Greek government, Eurocrats and international creditors poses a serious risk to economic stability throughout Europe.

Osborne said he asked Varoufakis to “act responsibly” when preparing to restructure Greece’s social and economic position on a heavily indebted European stage. But he acknowledged the Eurozone needs a “better plan for jobs and growth.”

Osborne said the Conservative Party’s economic plan for Britain would continue to increase employment levels and growth, and should be loyally pursued through uncertain economic times.

He warned that tensions between the Greek government and the architects of its IMF-EU imposed bailout pose a “rising threat to the British economy,” and that a path of “competence over chaos” in Europe is paramount.

But in contrast to Osborne, US President Barack Obama warned that perpetual austerity in Greece may well backfire against creditors’ interests.

“You cannot keep on squeezing countries that are in the midst of depression,” Obama told CNN.

“At some point, there has to be a growth strategy in order for them to pay off their debts to eliminate some of their deficits,” he added.

Last week, Bank of England Governor Mark Carney sharply criticized austerity policies common to the Eurozone states, warning that the single-currency area was constrained by strangulating levels of debt that could plunge it into years of stagnation.

Following Carney’s comments, UK economist and anti-austerity campaigner Michael Burke argued that debt burdens of struggling EU states such as Greece and Ireland are unsustainable, and must be largely written off if real growth is to occur in these states.

Unlike Osborne, Greece’s new finance minister is not an advocate of austerity.

Central to Varoufakis’ pre-electoral mandate was a pledge to address the human price of Greek austerity, a vow to cancel or reduce the nation’s bailout burden, and a pledge to tackle the country’s oligarchic elites.

As part of a brief tour across Europe following Syriza’s election victory, Varoufakis also met with a series of City of London bankers Monday…

Continue this story at RT

READ MORE SYRIZA NEWS AT: 21st Century Wire Syriza Files

21wire

21wire

We are a North American and European-based, grass-roots, independent blog offering geopolitical news and media analysis, working with an array of volunteer contributors who write and help to analyse news and opinion from around the world.
21wire

@21WIRE

We're covering news you won't necessarily find in the mainstream, and things which regularly confuse career politicians, CNN and MSNBC viewers... #SundayWire
With Mistrial Declared in First #BundyTrial, Federal Land Policies Remain the Real Issue https://t.co/851H8iUjRW… https://t.co/B38Iwa03cR - 49 mins ago
21wire