Wednesday, Feb 03, 2010
UK next
The Telegraph: Greece under EU protectorate as funds shift fire to Portugal
The European Commission has ordered Greece to slash public spending and spell out details of its austerity plan within "one month", invoking sweeping new EU Treaty powers to impose a radical shake-up of the Greek economy.
Greece's labour federation immediately called a general strike for February 24, dashing hopes that Europe's provisional backing for Greek crisis policies would restore investor confidence.
Posted by devo @ 10:55 PM (1543 views) Add Comment
24 Comments
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1. devo said...
The European Commission has ordered the UK to slash public spending and spell out details of its austerity plan within one month, invoking sweeping new EU Treaty powers to impose a radical shake-up of the UK economy.
yeah, sounds about right
2. devo said...
dear dreary,
i try to tell friends and family that money and politics just got interesting
but they just won't listen
please advise
yours beseechingly,
devo
3. devo said...
dreary says
devo, dwelling on the inevitable global economic meltdown is having an adverse affect on your mental health
your family and friends are right - best not to think about it
regards
dreary
4. cynicalsoothsayer said...
"Spanish bank BBVA shocked markets last week with a 94pc fall in profits, largely due to property losses. Spain's mortgage association said days later that the "real estate sector is bankrupt" and threatened the financial system."
5. devo said...
more and more plates to keep spinning
fascinating social documentary
irish take it on the chin
greeks up in arms before the cuts are confirmed
spaniards (in their various forms) ?
portuguese?
the brits will be up for a good ruck... as ever
6. freemanphil said...
The EU has become the IMF, an IMF for Europe. Austerity to maintain payments to bankers for debt encouraged by economic hit men.
7. devo said...
phil
53 minutes?
get real!
8. devo said...
this is the age of the soundbite
hit 'em with it
9. freemanphil said...
OK, this is 20mins.
10. devo said...
Nah, you've got 3 minutes ( think 7" singles and/or copulation)
show me what you've got
i prefer skim reading
i'm funny that way
11. freemanphil said...
10mins is the lowest I'll Go, Orwell Devo.
12. devo said...
I met you in the middle (4:42)
i heard what i already knew... ie economic 'hit men' had power, but less power than the jackals
their reign is over
13. freemanphil said...
Cynicism is a weakness Devo. His point is in the third world, that if the economic hitmen fail, they eventually send in the army as you see in Iraq and Afghanistan. Translate that into Europe, and you have the horrific possibility that we will see war within the EU from international forces to protect for the bankers what they consider to be theirs. Just look at how Brown has been using anti-terrorism laws against Iceland for not putting all their GDP to pay off fraudulent accounts encouraged by economic hit men like John Perkins. Your cynicism is what drives us towards this world. You feel, in your gut that you are part of the elite, that you would have been told about this by your friends on the 9'oclock news and your friends at your favorite newspaper, but you are not the elite and you have the wool pulled over your eyes whilst all of these people massage your ego. It is pathetic.
14. freemanphil said...
Notice that default is not an option for Greece. IMF style austerity is the option. Greece would recover if debt could be written off and taxes cut along with services, but, if you maintain unsustainable debt without allowing default and bankruptcy, you get third world poverty. They are using the Lisbon Treaty to force this through, which explains the rush to enact that legislation. Note, the EU can now enforce similar action in the UK. Just imagine how horrid our lives will be when the EU makes us slash all the hospitals and schools when interest rates go to double digits and nobody can afford the payments without giving up 90% of their standard of living, to maintain payments to the bankers. When you understand how much money is involved, it becomes easy to understand that this is a conspiracy of theft.
15. fjcruiser said...
The end of the Euro is in sight......
16. freemanphil said...
FjCruiser, you just don't get it. With the Lisbon Treaty, they will increase taxes and reduces services to where Europe will be a third world receivership. If the people do not stand up and demand sovereignty, then the successful countries will be bled dry to feed the useless countries and all will be in austerity and poverty. We are literally entering a goulag. The third world proves that this tyranny can be sustained, and, we have already adapted, as a society to being de-industrialized. The establishment think now that we are ready for the next stage of subservience.
17. Alfredo said...
So we have gone from irresponsible bankers to irresponsible countries, bail them out and it will be France and Germany holding up Europe while the rest carry on.
Let them fall
18. nickb said...
Yes, this accords perfectly with Klein's analysis in 'shock doctrine,' of crises going right back to Pinochet's Chile. Corporations and the financial sector will benefit from privatisation, deregulation and public spending cuts, wherever they can be forced. Expect the same in the UK, in fact we already see it with each party clamouring to be the true party of austerity measures and biggest and most skillful wielder of the axe.
19. Goldbug9999 said...
"the successful countries will be bled dry to feed the useless countries "
Thats got to be good for us - right ? :-)
20. p. doff said...
Looks like this site has morphed into Devo and Phil's personal soapbox.
21. growler said...
@18
... and S2R1
22. Geniebottle said...
Agree totally with Phil
Don't know how anyone can ignore this financial manipulation anymore as it hits us in the face. So obvious that it is the elephant in the room.
Another reason why house prices are deliberately kept out of reach of the X generation. The X generation being the first of the new third world.
23. glasgowstr said...
The problem for a lot of people here I guess is that we read all the articles, try to be well informed and stay ahead of the average citizen but there is precious little we can do about the tsunami of changes coming our way. "Adapt and survive" I know, but we all are restricted within governmental/societal/legal etc constraints. Apart from STR, some maybe dabbling with precious metals etc what are people actually doing to protect themselves? TFH replies elsewhere please...
24. rumble said...
Freeman, "Greece would recover if debt could be written off and taxes cut along with services, but, if you maintain unsustainable debt without allowing default and bankruptcy, you get third world poverty"
-- Stuff the people who are owed money? They borrowed, above their means. It's not complicated.
"EU can now enforce similar action in the UK. Just imagine how horrid our lives will be "
-- London has been living in Lalaland - it needs devaluing. Condon will experience greater change than the rest of the UK.
"to maintain payments to the bankers"
-- Are you referring to bankers of nationalised banks?
-- If you don't like bankers, stop whining and join Mr G, Mystie and myself (yep, all 3 of us) - ready for a run?
-- Are you saying all countries are going to be reduced to third world living?