1. Create a basket (fund) under the supervision and control of foreign banks.
2. Put the strategically and economically most valuabe national assets (ports, airports, electricity grid, etc) into the basket.
3. The foreign banks controlling the basket will decide whom to sell to, when, and for how much.
4. The money received for the assets is directly sent to greek banks.
5. Taxpayer money from all eurozone countries is sent to the greek banks.
6. After all these cash injections, the greek banks are taken over by the foreign banks.
Sum:
The strategically and economically most valuabe national assets are transferred to foreign ownership, plus their value in cash (double loss). In bonus, the banking sector is also transferred to foreign ownership (triple loss), along with eurozone taxpayer money (quadruple loss).
For Greek economy: zero gain, quadruple loss
For Eurozone taxpayers: zero gain, triple loss (three bailout packages)
Foreign banks: all the gains of the above, plus a milking cow that the Greek economy will be for the next decades.
Actions speak louder than words – making it plain to see whose interests these current EU institution leaders are really pursuing. (And, of course, not only in this case.)
Next steps:
In about a year’s time, an indebted weak economy, stripped of its key assets, and resting on a desperate and upset population, is left to go bankrupt. In the chaos that ensues, an economy in shambles is dictated by the foreign owned strategic and banking sectors from a position of ultimate power. (For comparison, check out e.g. Hungarian economy of the early 90’s, how strategic and banking sectors have been flogged to foreign ownership and how they then abused this position of power.)
Eurozone citizens lose the money they sent and are upset at greek citizens for having “squandered” these funds. The now complementary austerity measures will be stepped up and intensified.
Greece will exit the Eurozone, and the Euro itself will suffer significantly.
Greek economy will face decades of servitude, until an able political class can rise and start to reverse the process.
UNLESS…
This disgraceful deal does not pass the necessary parliamentary confirmations. Time is short, and critical.
Then:
Greece will face all the same challenges that it would anyway in about a year’s time. But without a crippling blood loss.
Lower loss for Eurozone taxpayers, and less feelings of hostility in the EU.
The choice is now still open. But not for long.
