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Sunday, 29 January 2012

GREECE AND THE EU (or EUROZONE) BAIL-OUT ?


Greece was first seduced by the EU bail-out loans, which at the time were a comfortable solution for their then problems.  No one at the time asked any hard questions to identify the reasons why the Greek economy in fact needed 110 Billion Euros to stave off their financial crisis.

EU politicians, to protect a euro currency country from bankruptcy, blindly lent 110 Billion Euros of financing in a way no lucid investor would ever lend financial help !!!

Now the same EU politicians, who lent 110 Billion Euros of financing, then proposed another 110 Billion a year later, which has not yet been paid, have got cold feet !!! They are hesitating !!!  Have they suddenly realized that one should not jump at the chance to lend money to a potential bankrupt ? 

"EUROZONE" politicians, namely Merkel above all and Sarkozy, now want Greece to submit to direct EUROZONE budgetary controls !!!  They apparantly seem to want an EU general manager to supervise  Greek economic controls.

This is not an acceptable proposition in the light of the current EU Treaty !!!  Does it , however foreshadow what the awaited "EUROZONE" Treaty will enshrine ?

Greece should not accept outside interference in its affairs, not in the current state of the EU.  The eurozone does not yet exist !!!