The Greece bailouts have actually bailed out French and German banks. From Claire Connelly at renegadeinc.com:
The Greek bailouts were a banking crisis in disguise. In an excerpt of her upcoming book, editor-in-chief, Claire Connelly, explores how Greece took the fall for decades of irresponsible lending by French and German banks. If Greece continues to participate in the European Union, democracy is doomed.
It is somewhat fitting that the birthplace of democracy is now the battle ground for its continued existence.
The cliche of opulence and laziness disguises real Greek misfortune at the hands of the European community – and America – resulting in one of the most offensive punchlines of all time: Somehow Greece deserves the economic disaster wrought upon it, a severity not seen since The Great Depression.
In reality, the country’s long financial crisis is one big deliberate illusion created by some of the world’s largest banks and multinational conglomerates that have sidelined governments and made the rule of law and the will of the people all but irrelevant.
It has prioritised multinational profits over the economic needs of Eurozone countries, and even those outside of the union. With no sovereign currency with which to balance the score, Greece has become utterly subject to France, Germany, the International Monetary Fund (IMF) and the European Central Bank, (ECB).
The money from the three bailouts did not go to Greece at all and did not restore prosperity – it was never designed to in the first place – but flowed straight back into the coffers of French and German banks whose bad decisions over the last half century became the burden of the Greek people.
Banks never pay for their own mistakes. The European Union was formed – at least in part – to avoid the wars, destruction and barbarism of the 1920s, ‘30s, and ‘40s – but a monetary union with no federal mechanisms and no recourse for exploitation has led to war by other means. (It is no coincidence that fascism has reared its ugly head in Europe’s economically weaker nations while Germany continues to dominate the Eurozone).
If Greece continues to participate in the European Union, democracy is doomed.
The EU was created as an industrial cartel with the sole purpose of diminishing democracy and made the rule of Parliaments all but irrelevant. These technocrats and finance moguls will not simply hand back back their power to Europe.
Greece and its participating Eurozone partners should take the bold decision to leave the EU to save Europe from itself.
To continue reading: Why Greece took the fall for a European banking crisis