Spiegel: It’s Time To End The Greek Rescue Farce!

• Rescue? What rescue? It does not look like any kind of rescue to me. Would any bank lend you money when you are bankrupt, unable to pay and out of work? But yet the Illuminist banksters want us to believe that they are the saviors: “We are here to bailout “save” the Greeks!” Yeah right, pigs can fly!
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• This is about saving Illuminist banks. This is about buying up the whole of Greece in pennies to the dollar. This is about using the bailout monies to pay for more weapons from France, Germany and America. Weapons which Greece do not need. The entire bill is shoved down the throat of the sheeple and their children, grand children ….. forever.
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  It’s Time To End the Greek Rescue Farce! 
  By Stefan Kaiser, http://www.spiegel.de/ 
  Whether it be an escrow account or a budget commissioner, the latest demands by Germany show just how absurd negotiations over Greece’s future have become. It is high time to bring an end to this tragicomedy.
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  For the past two years, Greece has wrangled with the euro-zone states and the International Monetary Fund (IMF) over its so-called “rescue.” Austerity measures have been agreed to, aid has been paid and private creditors have been forced to accept “voluntary” debt haircuts. Despite all this, Greece is in even worse shape today than it was then. Its economy is shrinking, the debt ratio is rising and the country and its banks have been cut off from capital markets. There isn’t even the slightest sign that the situation might improve. Something has gone very wrong with this rescue.
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  But none of the protagonists seem to have grasped this. They continue to negotiate as if things are business as usual, they let one “final ultimatum” after the other pass and they persistently fail to realize that their discussions have started to verge on the absurd. It would be a lot better to end this farce.
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  For weeks now, the Greek government has been negotiating with private creditors and the troika comprised of the IMF, European Union and European Central Bank (ECB) over a second bailout package. But it is already clear that this aid package will not save the country. It appears it will only delay a Greek insolvency — and it will serve to create new hardships for the country’s population.
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  It is time for politicians to admit that their carrot and stick strategy has failed. The idea that the country can be freed from its debt quagmire though austerity programs and aid pledges tied to conditions just isn’t going to work. It won’t even work if private creditors forgive part of the country’s debt.
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  Broken Promises
  For months, Greek government politicians as well as the so-called rescuers in Berlin, Paris and Brussels have all been deceiving themselves. Each supposedly final rescue package is followed by yet another, and austerity pledges aren’t being adhered to.
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  That has a lot to do with domestic political considerations. German Chancellor Angela Merkel and French President Nicolas Sarkozy must convey to their voters that they have the situation and, especially the Greeks, under control. Meanwhile, the government in Athens must, out of self-preservation, limit the burdens to its own people as much as possible.
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  That’s why both sides repeatedly agree to promises that everyone knows they will not be able to keep. The current rescue package, for example, officially agreed at the euro summit at the end of October, already has to be improved because it has become too small.
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  The Greek economy is shrinking faster than assumed. And the austerity plan Greece approved last summer under pressure from its euro-zone partners is also failing to live up to expectations. That’s no wonder, either, because €50 billion of the €78 billion in total savings pledged was tied to proceeds from privatizations that, not surprisingly, have failed to generate the profits expected.
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  … for more click here!

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