Few recall that an American bank helped Greece to enter the single
currency.
The idea of monetary union existed in the EU since its inception. The
late 1990's saw preparations for all EU countries other than the UK and Denmark
to adopt the currency. In 1999 the currency existed in virtual form. The Euro coins
and notes actually entered circulation on January 1st 2002. Greece had joined
the virtual currency on January 1st 2001 after several years of preparation
with what are now known to be fudged statistics, to which evidently the EU's
Eurostat turned a blind eye.
During the height of the Grexit crisis of July 2015, President Obama
urged Angela Merkel to 'ease up' on her demands for a renewed Greek austerity
programme. Was it his business? Most certainly. The US and its always fumbling
geo-political strategy has been at the heart of the Euro's creation (as a
competitive currency) and deeply, in the sense of 'deep politics' (political actions
hidden from public scrutiny) a part of the European Union's attempt to become
the United States of Europe.
What am I saying? The United States of America and the dictators of
Brussels are at one in their goal to rule the world. Only, of course, in the
endgame's outcome the US comes out on top.
The Euro had its inception in the Maastricht Treaty of 1991--1993. But
that treaty also ruled no country could join the single currency without
qualifying by having a budget deficit no more than 3% of GDP, nor could its
government debt exceed 60% of GDP. Almost every EU country, France and Germany
included were cheating on this percentage. But Greece, having worked the magic
of statistical manipulations also received help from a US investment bank who's
deal was the fount of 2015's disturbing debt drama, and before that, of
Greece's fall into the pit of long term debt accumulation.
I quote from a Spiegel Online article of Feb 8th 2010.
"Greek Debt Crisis: How Goldman Sachs Helped Greece to Mask its True Debt
By
Beat Balzli
"Goldman Sachs helped the Greek government to mask the true extent
of its deficit with the help of a derivatives deal that legally circumvented
the EU Maastricht deficit rules. At some point the so-called cross currency
swaps will mature, and swell the country's already bloated deficit.
"The
Greeks have never managed to stick to the 60 percent debt limit, and they only
adhered to the three percent deficit ceiling with the help of blatant balance
sheet cosmetics. One time, gigantic military expenditures were left out, and
another time billions in hospital debt. After recalculating the figures, the
experts at Eurostat consistently came up with the same results: In truth, the
deficit each year has been far greater than the three percent limit. In 2009,
it exploded to over 12 percent.
"Now,
though, it looks like the Greek figure jugglers have been even more brazen than
was previously thought. "Around 2002 in particular, various investment
banks offered complex financial products with which governments could push part
of their liabilities into the future," one insider recalled, adding that
Mediterranean countries had snapped up such products.
"Greece's
debt managers agreed a huge deal with the savvy bankers of US investment bank
Goldman Sachs at the start of 2002. The deal involved so-called cross-currency
swaps in which government debt issued in dollars and yen was swapped for euro
debt for a certain period -- to be exchanged back into the original currencies
at a later date.
"Such
transactions are part of normal government refinancing. Europe's governments
obtain funds from investors around the world by issuing bonds in yen, dollar or
Swiss francs. But they need euros to pay their daily bills. Years later the
bonds are repaid in the original foreign denominations.
But in the
Greek case the US bankers devised a special kind of swap with fictional
exchange rates. That enabled Greece to receive a far higher sum than the actual
euro market value of 10 billion dollars or yen. In that way Goldman Sachs
secretly arranged additional credit of up to $1 billion for the Greeks.
"This
credit disguised as a swap didn't show up in the Greek debt statistics.
Eurostat's reporting rules don't comprehensively record transactions involving
financial derivatives. 'The Maastricht rules can be circumvented quite legally
through swaps,' says a German derivatives dealer."
How does this fit the Criminal Geo Political Plot scenario as
orchestrated from Washington DC?
1. Washington wants to control global politics.
2. Washington believes its real enemy is the China/Russia bloc.
3. Europe is a useful device or decoy for manipulation and control of
the frontiers that are inaccessible to the US and to the resources that lie
behind them. That is the Middle East, Central Asia, the Eastern Mediterranean,
and Eastern Europe bordering the Russian Federation.
4. Current and continuing destabilisation in these regions, notably the
Ukraine, Afghanistan, and now Greece, suggests interference by a global
manipulator. Greece, of course falls under the control of the EU. And the EU is
governed from Brussels aka from Berlin.
For the US plot to succeed, Greece has to remain in the Euro. After all, Greece geographically commands the Eastern Mediterranean. But it has signed over some usage of
the port of Piraeus to China and the US can hardly have wanted the left wing
Syrzia to start doing deals with Putin's Russia--even more danger if the
Russians gained a warm water port within a EU and NATO territory.
The US has long been pushing for Turkey to become a EU member state.
Why? Oil pipelines from the Caspian reach the Med via Turkish ports.
Now, the plot seems to falter. If Greece leaves the Euro might it not
also leave the EU? Might historic tensions between Greece (still a NATO member)
and neighbouring Turkey break out once more? Worse, could Russia find ways of
buying itself into that Mediterranean port? Via gas swap deals for instance?
Solution, Greece must stay in the Euro and of course the EU. Thus
diplomatic pressure from Washington plus public words from Obama, encouraged the
Brussels/Berlin/Paris axis to try harder avoid the Grexit. When the project
seemed lost and Grexit looked only hours away, even with a paper from the
German Finance Minister--who in all logic has the right idea, to kick Greece
out of the Euro but with a nice diplomatic compromise of re-entry in five
years--brilliant but not what Washington wants, Obama tells Merkel to ease up
the pressure for increased austerity. France, never likely to bow to US
diplomacy has another reason for wanting to keep Greece alongside: socialist
solidarity and the kudos that comes to Francois Hollande for being Merkel's
poodle in keeping the Eurozone together. And also for keeping the wolves away
from France's own currency credibility when the Front National looms as a powerful voice
for the return to the Franc forte, and France's own economy and debt mountain
threaten her economic stability.
Quite a stitch up don't you think?
And where does it lead us?
To the conclusion that independence from the Eurozone and the EU is a
far, far better thing than being a victim (and a paying one too) of these
alarming geo-political power games.
Britain, now is the time to GET OUT!
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