CommunityThe Bullpen

Europe’s Plan to Colonize Greece

In a previously-secret document, European countries demand Greece to institute 38 specific changes to their government structure as a condition of the bailout.

The reforms, spelt out in three separate memoranda of a combined 90 pages, are the price that Greece has agreed to pay to obtain a 130 billion euros second bail-out and avoid a sovereign default that the government feared would throw Greek society into turmoil.

They range from the sweeping – overhauling judicial procedures, centralising health insurance, completing an accurate land registry – to the mundane – buying a new computer system for tax collectors, changing the way drugs are prescribed and setting minimum crude oil stocks.

“The program is much, much more ambitious than economic reform,” said Mujtaba Rahman, Europe analyst at the Eurasia Group risk consultancy. “This is state building, as typically understood in traditional low-income contexts.”

Most urgency is attached to a 10-page list of “prior actions” that must be completed by Wednesday in order for euro zone finance ministers to give a final sign-off to the new bail-out at an emergency meeting scheduled for Thursday.

This is a colonization document. The Eurozone will take over almost every aspect of Greek society. And this will be a blueprint for any other poor Eurozone member that gets itself in trouble.

Here’s just some of the fallout: Some Greek workers will actually have to pay for their own jobs. These public employees will go without pay for a month, and the cuts to pension and health funds mean that employees will return some funds. This is not just a cherry-pick: up to 64,000 Greeks will be without pay this month. The austerity packages so far have cost Greeks over 5,600 euro per household. And remember, the Eurozone wants many more of these measures.

And of course, this colonization in the name of austerity has been disastrous for growth. Growth rates throughout the Eurozone are falling as a result.

It’s just sad to see what’s happening to the birthplace of democracy. They’re having it stripped away from them. And per the ECB’s Mario Draghi, there’s “no escape” for anyone else in the Eurozone either. This is a social engineering project.

Previous post

More Signs of Romney's Growing Unfavorability

Next post

Cynicism in politics

David Dayen

David Dayen