The enslavement of the Greek nation by the money changers signals the end of democracy in Europe

This morning Greece has come to an agreement with the so called troika of the IMF, ECB and the EU and signed its death warrant as a viable nation in exchange for a ‘bail-out’.

Every bullying demand of its ‘creditors’ will be met and the democratic will of its people treated with outright contempt.

Most right thinking people know what has happened here.

Since the creation of the Euro and European monetary union, private banks have created a glut of bank credit and eagerly lent it to some of Europe’s smallest economies based on fantastical growth projections, bogus economic models and naked greed .

In the cold chill that followed the global 2007/8 financial crash it was clear that banks all over Europe had recklessly lent extraordinary sums to Greece and had no hope of ever getting their money back – the entire European monetary system had been put at risk (again) and at a time when public fury towards the banks was endemic.

With little prospect of another vastly expensive bailout of the banks being politically sustainable, a scapegoat had to found. The oligarch owned corporate media set to work portraying Greece as feckless and its people as workshy, tax avoiding shysters. This seems to have muddied the waters sufficiently to direct debate away from the banks almost entirely. 

An unholy trinity of the IMF, the ECB and EU quickly transferred Greek debt from the private banks to the European taxpayer neatly deflecting the blame away from the banks still further. As usual the banks have escaped scot free with wheelbarrows full of loot while the consequences of their actions are absorbed by society.

Wither the Greek nation as the IMF arrived to asset strip the nation. The IMF are the loan shark thug enforcers for the banks  whose ‘structural adjustment’ programs have caused misery and death on an industrial scale around the world. Europe is getting a vivid experience of the suffering they have inflicted on populations in the ‘developing’ world for decades.

Crippling austerity is the standard medicine the IMF prescribes to states who risk exposing the moral and intellectual bankruptcy of our banking overlords – and for Greece the results have been an all too familiar toxic mix of suffering, anxiety, death, economic collapse and of course, more debt. 

While some Greek officials are undeniably guilty of corruption and negligence – it is not these people suffering as the banking mafia extracts its pound of flesh. The banks, their shareholders and dealers will also dodge financial cost, censure or criminal charges  As always, financiers are enabled to evade responsibility and risk while pocketing glittering rewards.

Now that Greece has been completely trashed by the banks and the troika they are in no position to defend anything anymore. Greek economic sovereignty, democratic integrity and hopes for the future have been removed in exchange for a ‘bailout’. The ‘bailout’ offered is nothing less than a brutal Mafioso style beating of the Greek people, an enslavement to neoliberal economic interests with the troika also enforcing a fire sale of what assets remain at knock down prices.

The rout of Greece is not the first destruction of democracy by the troika – Ireland’s economic decisions are now made in Brussels and Italy, Spain and Portugal have had the law laid down to them also.

This tragic, dangerous and despicable debasement of sovereign nations is the direct result of the wholesale privatisation (by stealth) of the global monetary system over the last 50 years.

Privately created bank credit has replaced currency issued by sovereign nations almost entirely and as a consequence very few elected governments can now afford to openly oppose the will of the banks. In a world dominated by financiers – democracy is forfeit by default. The enslavement of Greece to the interests of the financial elites marks the end of democracy in Europe.

We now live under a globalised banking dictatorship that is contemptuous of democracy and as callously self serving as anything that existed under communism.

Politics has been captured by neoliberal ideology and money. The mass media is now little more than a tool of propaganda and distraction that is owned and operated to extend and protect corporate power.

The future for any meaningful democracy in Europe looks bleak (although sham elections and ‘debates’ will be two-a-penny).

Since experience tells us that there is no limit to the greed of the financial elites, all that remains to be seen is how long the people of Europe are prepared to tolerate the constantly worsening settlement between work and capital.

Eventually, surely, there will be an explosion of rage and revolution – but that explosion risks destroying any notion of European unity and ushering in a new era of extreme right wing politics and xenophobia.

It seems Europe is incapable of learning the lessons of the past – what future are we leaving for our children?

Make no mistake, there will no progress on any front be it social justice, climate change, or the environment while our means of exchange remains overwhelmingly in the hands of private banks via bank credit (debt).  

The future is going to be a straightforward choice between us and the banks. I choose us – but at the moment we are choosing them – are they really worth it?

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