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Friday, 19 June 2015

Greek banks in crisis as the speculators take the money and run.

Greece faces banking crisis after euro zone meeting breaks down

Greece's Yanis Varoufakis with Christine Lagarde of the IMF

So who is actually withdrawing these €2bn of deposits? It certainly is not those workers who have had their salaries viciously cut over the past five years of austerity. It is not those pensioners who have endured the real cuts to their pension entitlements. It is not those people who rely on the food bank and soup kitchens in Athens, Piraeus, Tripolis and a hundred towns all over Greece.
The face of austerity on the streets of cities all over Greece

Those withdrawing the largest part of the money are by far those speculators who have made their fortunes on the circumstances of ordinary Greek people caused by the IMF, the Central European bank, Brussels and the Eurozone "leadership" of the Germans. The "banking crisis" created by outsiders in Brussels and Washington, and previous Greek governments. I have more empathy with those queuing at the soup kitchen and agonising over how they will manage to pay their gas and electricity bill than I could ever have for the speculators and bankers.