EU Destroys Itself with Insane, Virtually Nazi Plan for Greece

Yesterday was a day of shame for Europe, said Helga Zepp-LaRouche, who as Schiller Institute Founder has led the campaign to bring Europe into the BRICS-allied nations. The EU now exists only as a monstrous construct, Zepp-LaRouche said in a conference call yesterday; she cited Financial Times senior columnist Wolfgang Munchau, who wrote on Monday morning, “Greece’s creditors have destroyed the Eurozone.”

The European Union “plan” for Greece is yet another criminal, evilly intended, and grossly incompetent action by what passes for the leaders of Europe. After cutting off all liquidity to the Greek banking system by European Central Bank action, in effect collapsing Greece’s payments system, it forced a looting agreement on Greece that will directly seize its infrastructure and banks, impose deeper austerity to dramatically worsen depression which is already killing and sickening large numbers, and force a regime change. The economy has already collapsed by 25%, unemployment is 27%, youth unemployment 65%, etc.

This insane and virtually Nazi “solution” for Greece is most dramatically demonstrated by its intention to increase Greece’s absolutely unpayable debt pile—already at over 350 billion Euros and 180% of its Gross Domestic Product—by another 86 billion Euros to 225% of GDP! In addition, according to Eurogroup president Joeren Diysselbloem yesterday, the plan will take “airplanes, airports, infrastructures, and most certainly banks,” and put them in a “fund” to be sold off under control of the European Commission, for Greece’s creditors, from Germany to the vulture funds.

During the Nazi occupation of Greece in WWII, Hitler compelled a “forced loan” from Greece to Nazi Germany — still unrepaid. Now Chancellor Merkel compels “forced payments” of unpayable debts, which arose from a massive 2010-12 bailout of London and European banks.

This morning’s “plan” is based on a huge public lie, attempting to claim that just because that debt is unpayable, does not mean any of it should be written down.

The document reads:

The truth is that the London-centered megabanks are bankrupt despite the massive bailouts, are deep in trillions of euros of derivatives bets on the debts of Europe’s superindebted countries, and therefore will not stand for any debt writedown. That is why those debts are unpayable; the only way out is Glass-Steagall reorganization of those banks to let the speculative units fail. The debt writedowns could occur, as they did for Germany in 1953 to launch its “Wirtschaftswunder.”

EIR Founding Editor Lyndon LaRouche said again today: “The claims against Greece are fake, The British Empire institutions issued fraudulent debt to bail out banks, and said Greece owed it! These guys are really Nazis.”

The new “plan” calls for a series of tax increases including raising the value added tax, reforming pensions and eliminating supplements for the poorest pensioners, and labor reforms. It calls for the establishment of a 50 billion Euro fund comprised of state assets slated for privatization. This is despite the fact that the International Monetary Fund in the recent debt sustainability report stat that such a figure is pure fantasy.

These measures all have to passed as laws — laws reviewed in advance by “European institutions” — by the Greek Parliament by Wednesday, July 15. Until then the European Central Bank will not restart even emergency liquidity operations to the Greek banks, which remain closed.

In a statement released after the end of the talks Greek Prime Minister Alexis Tsipras said the deal was extremely tough, but that it was agreed upon to prevent the “financial asphyxiation and the collapse of the financial system—this was planned to the last detail — having recently been designed to perfection, and in the process of being implemented.”

But as noted, this asphyxiation will continue, as blackmail, at least until after the Parliament legislates the “plan.”