Saturday, 4 July 2015

The pressure of the Senate to IMF and EU

can the guinea pig hit back its creditors?


3 days ago members of the US Congress have written a letter to IMF of paramount political gravity!

The letter is straightforward. It identifies with clarity the causes of the suffering that millions of Greeks have experienced under memorandum and troika (i.e. EU Commision, ECB and IMF).

"Greece has already reduced its national public sector work force by 19 percent and carried out many of the reforms demanded by the IMF and its creditors. It has gone through an enormous fiscal adjustment, achieving the largest cyclically adjusted primary budget surplus in the euro area last year; and a very large current account adjustment (with a 36 percent reduction in imports). At the same time, as even the IMF has acknowledged in its own research, the austerity imposed by Greece's creditors over the past five years turned out to be far more devastating to the economy than they had predicted."

The letter can be perceived as an attempt to push IMF to make a complete U-turn on its fiscal policies imposed to Greece over the past 5 years.

EU leaders (you know these Democrats who wish Tsipras off a.s.a.p.) probably are not very happy today reading this letter and the IMF's proposal on greek debt.

That's why they have supported with enormous aggression the "yes" vote at tomorrow's greek referendum.

Power games...with Greece in the operation theater once again...

Shall we say NO to more experiments on the body of our country?

Shall we find the guts to say NO to using Greece as a guinea pig?

Shall we dare to declare independence of thought against the regime of EU failed politicians?

I hope so.

Yannis Zabetakis
Ass. Professor of Food Chemistry
Univ. of Athens

  

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