Greek premier George Papandreou, who covers up all Graecokleptocrats, asserts that if Greece is to overcome the current crisis, Graecokleptocrats must show the same sort of team spirit that allowed Greece's national football team to win its first game in the World Cup, but he did not utter a single word about the impunity of the 300 Graecokleptocrats! Welcome to the national kleptocratic team!
Basil Venitis points out two roommates of Amherst College of Massachusetts, Anthony Samaras and George Papandreou, lead the two most corrupt political parties on Earth, Nea Democratia and Pasok. Papandreou is the premier of Greece, and Samaras is the leader of opposition. Papandreou participated in the kleptocratic government of Simitis, and Samaras participated in the kleptocratic government of Caramanlis. They are very good friends, but in public it's their job to accuse each other. Love in private, hate in public! Welcome to the national kleptocratic team!
Josef Ackermann, CEO of Deutsche Bank, asserts that Greece cannot repay its debt. When this happen, Former Federal Reserve Chairman Paul Volcker thinks the euro will go belly up. Bank of England Governor Mervyn King, former U.S. Treasury Secretary John Snow, and former U.K. finance minister Norman Lamont agree the eurozone needs a common fiscal policy to survive. Welcome to the national kleptocratic team!
Greece will spend more than it saves from austerity measures on arms deals with Germany, France, and the US as a potential condition of receiving bailout funds. It is certainly not unprecedented for the global military industrial complex to benefit from deals made by their friends in the central banking community. After all, war is the health of the state. The last thing big government proponents want is for peace to break out in the world. Welcome to the national kleptocratic team!
Greece has more than five times as many civil servants per capital than the United Kingdom. The country's inflated government apparatus consumes tens of billions of euros a year. Rousfeti means expensive political favors, which pervade everything from hiring public employees to property deals. Tax evaders and law breakers receive visits from officials eager to collect kickbacks. In return for leaving the guilty untouched, officials receive fakelaki, envelope containing bribe in cash. The standard rate for kickbacks is 10% of the forfeited penalty. Desperate Greeks now pray for a new dictatorship! Allons enfants de la Grece! Welcome to the national kleptocratic team!
Nothing could make Greeks happier than to see the Greek Parliament, the Grand Brothel on Syntagma Square, burned down to ashes! This brothel is the center of corruption of Fourth Reich(EU), the cradle of kleptocracy, the source of all evil in Greece, a shitscum mill. Welcome to the national kleptocratic team!
In approving the Greek bailout plan, the international community is more intent on saving its own banks than rescuing Greece itself. The Greek government owes €162 billion to foreign banks and private industry worldwide. German banks hold €33 billion in Greek government bonds. Creditors must surely realize that the loans are no longer collectable. The verdict on Greece is already in, Geece is going belly up. After the end of the bailout program, the Greek deficit will still comprise at least 125 percent of GDP. And no one has a clue as to how the country will ever pay off its mountain of debt.
Greece might negotiate a restructuring of its debt before missing a payment. This would require investors to take a significant discount on their debt holdings and could include extending maturities. Bondholders might see haircuts of anything from 20 to 40% of the net asset value of their debt positions. The current two-year Greek-German bond yield spread is consistent with a 33% chance of a 40% haircut of Graecobonds.
Greek, European, and IMF officials publicly refuse to entertain the idea of Graecorestructuring, Basil Venitis asserts that €110 billion aid to Greece postpones default for a year. It tries to fix the symptoms, not the causes. The cause of Greek debt is Graecokleptocracy, pure and simple! Greece isn't just illiquid, but insolvent. And providing an insolvent country with money and forcing it to raise taxes isn't going to do it. On the contrary, output might fall, unemployment might rise and market share will be lost. Greece's problem is not spending, but robbing by Graecokleptocras. Greece has to drastically cut taxes, regulation, licensure, public sector, and abolish impunity of Graecokleptocras. Moreover EU has to abolish VAT now.
Venitis points out more than €300 billion of Greece's public debt is held by non-residents, mostly financial institutions from Germany, France, and Switzerland. They will have to forego a part of that. If Greece collapses in a disorderly way, then the domino effect hitting Spain, Portugal and other parts of the eurozone could be very rapid and dangerous, a real tsunami. Eventually, this could lead to a destruction of euro.
Returning the loot is hard to do. 300 Untouchable Graecokleptocrats, the most corrupt politicians on Earth, those freaks that enjoy absolute impunity, assert they will never return the 200 billion euros they robbed from the Greek treasury, kickbacks, and churning the nest eggs of poor workers! The loot is safely deposited in secret offshore accounts, and it's very hard to trace it.
Northern Europeans are more and more confronted by the situation whereby their monetary destiny is decided by kleptocrats they have never elected and by Southern Europeans on whom they have no influence. They are disgusted with Graecokleptocrats, but they have to pay for the myriad robberies of 300 Graecokleptocrats. Basil Venitis asserts that bankruptcy would be God's gift to the cradle of democracy, because Greece needs a shock and awe to recover from Graecokleptocracy. And it looks like God will manifest his benevolence pretty soon! A bankruptcy will also bring the much needed revolution to get rid of the huge political corruption. Let it be.
Graecorescue is money gone with the wind, because Greece can never return the money back! 300 Graecokleptocrats simply rob and churn the money, forwarding kickbacks and loot to their offshore secret accounts. French Finance Minister Christine Lagarde described the aid package as a cocktail of indulgence and great strictness, and in case of default on repayment, France and Germany will immediately put the foot on the brake, in order to cut their losses short. because it will trigger a fresh investor panic. Shares in European banks, which have large holdings of Graecobonds, will be dumped. It is absurd that Northern Europeans who have been doing the right things are suddenly going to have to pay up Southern Europeans who have been doing the wrong things, spending huge amounts of money they didn't have, allowing politicians to rob the treasury, and lying about it as well.
Venitis notes that Greece needs the constructive destruction of bankruptcy! Let it be. Bailout of Greece is a destructive distraction. The default of Greece, a bottomless pit, cannot be avoided. The challenges facing Greece are similar to those that confronted Argentina, which defaulted on $95 billion of debt in 2001. There are a lot of similarities in terms of inflexibility of the currency, capital flight, huge taxes, and the risk of austerity measures leading to a sharp contraction in growth. Greece's financing needs are huge in the coming two years. It needs to prove to the market that it can drastically reduce expenses, taxes, sinecures, and Graecokleptocracy. The markets demand to see at least one Graecokleptocrat in jail! Let it be.
Basil Venitis muses that giving euros to Graecokleptocrats is giving gin to alcoholics! Fourth Reich becomes a ginmill! A bailout does nothing to fix the misguided policies and Graecokleptocracy that have generated Greece's existing debt and ongoing deficits. Bailout merely postpones the day of reckoning. Worse, bailout both rewards Graecokleptocrats' bad past behavior and encourages such behavior in future. Greece will be back for additional bailouts in short order, since a bailout will not fix its underlying problem of Graecokleptocracy. Rather than bail out Greece, Fourth Reich and IMF should allow it to default. This will hurt Greece's creditors, but those entities assumed the risk when they loaned to a country long known for its kleptocracy. Let it be.
Venitis asserts that Greece can easily pay its debt by selling its assets, such as land owned by the government, forests, islands, postoffice, colleges, state buildings, public TV stations, public radio stations, highways, ports, airports, state hospitals, mines, offshore drilling, and many other public services. Everything should be privatized. 90% of public jobs should be eliminated, because they are just sinecures, created in exchange for votes!
Greeks are fed up with all politicians. A range of government policies since the end of dictatorship in 1974 have made them feel powerless and betrayed by a centralized kleptocracy that claims to know what is good for them better than they do themselves. The welfare Graecokleptocracy has created not a feeling of security but a culture of dependency on crumbs and sinecures and a loss of responsibility. The all-powerful 300 Graecokleptocrats are willing to say anything to fool Greeks and do anything to get kickbacks.
Basil Venitis, twitter.com/Venitis, points out that for 35 years since dictatorship, Pasokleptocrats and Neodemokleptocrats who took turns in running Greece, the most corrupt country on Earth, borrowed as if there were no tomorrow, and they received 200 billion euros in kickbacks from Siemens, JPMorgan, Goldman Sachs, MAN, Daimler, Deutsche Bahn, Ferrostaal, Krauss-Maffei Wegmann, antitrust, military purchases, monasteries, and many more. Through mismanagement, robbery, kickbacks, and nepotism, they drove the cradle of democracy to the brink of bankruptcy with a public debt of 350 billion euros.
Michael Christoforakos, the former president of Siemens Hellas, set a videocamera in his Siemens office, producing DVDs starring 200 Graecokleptocrats, kept at two public notaries. Christoforakos has the tiptop Greek politicians on DVD kowtowing to him for more kickbacks in exchange for lucrative overpriced contracts! The DVDs prove that Premier Costas Simitis, 10 ministers, and 80 MPs of Pasok, Premier Costas Caramanlis, 8 ministers, and 75 MPs of Nea Democratia, and 20 journalists shared two billion euros of kickbacks. Christoforakos, who now lives in Munich, identified John Bartholomew of Nea Democratia and Costas Geitonas of Pasok as the coordinators of kickbacks. Siemens set aside 10% of the revenue it received from state contracts to pay off Nea Democratia and Pasok as part of a bribery system that ran from 1975 to 2007.
The huge Greek debt is not due to spending, but robbing! It's not fair for poor Greeks to pay this debt, but for Graecokleptocrats to return the loot, mission impossible. That's why Greeks revolt against 300 Graecokleptocrats with bombs, molotovs, guns, strikes, and riots! Many revolutionary groups try to overthrow Graecokleptocrats and hang them in front of the Greek Parliament! Most Greeks pray now for a coup!
No Graecokleptocrat has ever gone to jail! Venitis asserts that impunity of the 300 Graecokleptocrats is the most freakish justice in the world! The most infamous house on Earth is the Greek Parliament, aka the Grand Brothel on Syntagma Square, which houses 300 wild prostitutes, minotaurs that suck the blood of Greeks! It's a long way from the 300 Spartans of Leonidas to the 300 Graecokleptocrats of the Grand Brothel! Allons enfants de la Grece!
Greeks now demand the legal confiscation of all assets belonging to Graecokleptocrats, in order to ensure the repayment of the debt which Graecokleptocrats have admittedly caused, by inventing parliamentary immunity. All present and past MPs since 1975 should be examined for all unlawful and criminal actions taken against the assets of the Greek State, including those which have expired under the statute of limitations, in order for justice, truth, and transparency to be reinstated in Greece. Let it be.
The economic tragedy unfolding in Greece is the welfare state taken to its logical conclusion. When groups of people use the state to live at the expense of others, the feedback loop about the costs of those transfers is attenuated, often by design. The welfare state therefore makes commitments that it cannot honor. By the time creditors or taxpayers say Enough, the welfare state has created a clash between expectations and means that leads to unrest and hardship, a clash that never had to occur.
Venitis muses that Papandreou is a Don Quixote who is tilting at the windmills of speculators. Papaconstantinou is a Sancho Panza who helps Papandreou to attack imaginary kallikantzaroi. The quixotic adventures of Papandreou lead nowhere, because he is surrounded by Graecokleptocrats who play farces on him. The cruel practical jokes eventually will lead Don Quixote to a great melancholy.
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