This piece was reprinted by OpEd News with permission or license. It may not be reproduced in any form without permission or license from the source.
Financial Tyranny Rules Eurozone - by Stephen Lendman
Unelected leaders to rule Greece and Italy.
From inception, Eurozone planning was flawed. Uniting 17 dissimilar countries under rigid rules failed.
Membership required surrendering monetary and fiscal authority to a central power.
Debt entrapment and banker occupation followed. Partnered with banking giants, money-controlled Troika power decides everything - the EU and ECB and IMF.
Rules require lowering living standards, sacking public workers, and selling off state assets lock, stock and barrel at fire sale prices.
None of it would happen if troubled sovereigns weren't trapped in the euro straightjacket. It lets bankers make rules, set terms, issue diktats, and pressure, bribe or otherwise force governments to acquiesce. As a result, households are burdened with oppressive austerity through no fault of their own.
Troubled Greece and Italy now make headlines. Troika power sacked their heads of state. One's replaced in Greece. Italy's choice is imminent. Lucas Papademos got Greece's top job. He'll serve unelected as prime minister. His credentials explain why.
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
2
2
1
