Source: Russia Today
The sovereign debt crisis tightening its grip on Europe has claimed the scalps of two prime ministers –those of Greece and Italy. Looking at the men poised to replace them, one cannot but ask –is this another turn of the screw for ordinary people?
Greece and Italy hold huge swathes of public debt they are unable to service unless they get massive European Central Bank and International Monetary Fund support, as a prelude to refinancing by international banks.
Greece has already replaced its prime minister after he dared to say he would put a further round of harsh austerity measures to a referendum vote. The country’s new PM is Lucas Papademos, former vice president of the ECB and of Greece’s own Central Bank, and a member of David Rockefeller’s (JPMorgan Chase/Exxon) powerful Trilateral Commission.
As for Italy, a likely replacement for Silvio Berlusconi is the former European Commissioner Mario Monti, who happens to be European chairman of the Trilateral Commission.
Whenever we hear of “sovereign debt crises” –whether in Mexico 1997, Brazil 1999, in my native Argentina in 2001/2, or today in Greece, Italy, Spain, Portugal, Ireland and (soon to come) the UK, France, or the US –what it really means is that governments cannot collect enough tax revenues from their people to pay interest and capital on debt that is mostly in the hands of private banking institutions.
Cutting through the Orwellian Newspeak* of the media, this means that the people of Greece, Italy, and Argentina must pay for the mistakes of bankers and corrupt governments, suffering higher taxes, unemployment, lower wages and pensions, and a deterioration in public healthcare, education, and infrastructure.
This is a Suspicious News Brief. Read More at Russia Today