February 20, 2012, European Union finance minister, Johan van Overtveldt, said one of the reasons bail out loans keep getting put on hold is because everyday new problems are revealed.
He says Greece now needs loans at least equal to its GDP, in order to get through the next few years: “So we are talking now about a package that in reality is about 200 billion euros, which happens to be exactly the amount equal to Greek gross domestic product.”
Overtveldt also said what many independent, and traditional economists have been saying; that cuts to Greek government spending will only make things worse: “The negative spiral in which the Greek economy and Greek society have been imprisoned for almost two years will only get worse. The austerity program that is imposed on the country will worsen the recession, which in its turn will worsen the budget outlook.”
He added that it was probably a good thing for Greece to leave the European Union: “It will lead, of course, to a devaluation of the new drachma but that is exactly what is needed to get the economy growing again through international trade.”
In fact many Greeks have been wanting their government to leave the EU, because they think it’s all part of a sinister plot.
Greek author, politician and songwriter, Mikis Theodorakis, says there is a conspiracy to destroy his country: “Germans, for instance, as well as the French, English and Americans, earned billions of Euros from annual sales of war materials, to the detriment of our national wealth….Siemens, for instance, maintained a special department for buying off the influential Greeks in order to sell its products in the Greece market.”
Theodorakis might be right about his beloved Greece being destroyed. Economist Harlan Green, said the Mediterranean country is on its way to Third World status, and implied that the International Monetary Fund (IMF) was behind it: “Greece is sliding very quickly into being a third world country, and the IMF knows how to deal with third world countries.”
As far as sinister plots go; don’t forget that the new unelected Prime Minister of Greece is a member of the Trilateral Commission!
…there before me was a black horse! Its rider was holding a pair of scales in his hand. Then I heard what sounded like a voice among the four living creatures, saying, “A quart of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!”