Well they don’t actually. Work that is. So here is an example of European solidarity via the ‘bailouts’ at work.

Upon signing the second Memorandum of Understanding the Quisling Greek government, under an appointed European Central Bank supposed Prime Minister,  the Greeks lost their very right to exist. In exchange for this privilege they were to receive billions of Euro in loans again. (Funny way to reduce debt you may say.)

Now the German taxpayer, egged on by his vile yellow populist press does not like the idea he is being fed. That he works hard to ‘give’ money to the lazy, profligate Greeks who do nothing but sit in the sun all day. And if that were really the case, they would be right to be very angry. But it is not the case.

Now back to our example. The first tranche of this new loan, in an amount of 5.2 billion Euro would be granted provided the Greek state did a number of things, one of which was to slash all wages in the private sector and abolish all labour laws providing any rights to workers. The diligent Greek government did everything that had been demanded of it in return for this tranche.

However, the Greek people were getting dangerously rebellious. It wasn’t clear why a people driven into recession, growing unemployment exceeding 20% already, poverty and hunger should not be extremely grateful for all this. Nevertheless pressure to hold an election was so strong that the Eurotyrants had to concede. In any case, they were pretty sure that a coalition of stooges supporting the austerity would be voted in.

Still, just to be on the safe side, instead of paying the 5.2 billion as they were bound to since the Greek side had met its side of the bargain (with disastrous consequences but that is neither here nor there) they chopped off one billion which they retained till after the election.

Now why did they do that? Well, the ECB held Greek Bonds, of the kind that had not been shorn, that had to be paid in full, and these had become due and payable. Now, the ECB had NOT bought these bonds at face value but at a substantial discount. Nevertheless, the Greek State was still obliged to redeem them at full face value. The amount to be paid? 4,2 billion Euro.

So what was given with one hand was instantly taken back by the other. And the Other made a decent profit too. Meanwhile the Greek debt burden grows and the interest payable by the tax payer also grows. And not one cent of this generous loan even reaches the Greek coffers, let alone goes any way to help rebuild the Greek Economy.

Now, as if that were not enough, we are now being told, that since we were good little children and voted in the very people responsible for the destruction of the Greek economy, they would now release the pending one billion by the end of the month.

The catch. Of this one billion, 900 million is instantly payable to the ESM fund by Greece. Does this make any sense to any normal brain in the world? Whatever it is it is neither solidarity nor a bailout!

Meanwhile the German tax payer is not told anything of this and he resents these swarthy parasitical good for nothings we are supposed to be. As for the Greeks, every cut in income, every hike in taxes, every measure taken to deprive us of any rights is presented as: “We can’t help it! The troika decides! We have to do as they say or we will go bankrupt!”

Result? The Germans hate the Greeks, the Greeks hate the Germans and the European Economy is getting caught in a downward, destructive, possibly irreversible cycle.

As for tonight’s football match between Greece and Germany…. Well, let us hope it will in no way remind us of the water polo match held at the Melbourne Olympics in 1956 between the Soviet Union and Hungary also known as the “Blood in the water match”*.

 

*This was played against the background of the Hungarian Revolution in 1956. The Hungarian team beat the Soviet Union by 4 – 0, and the pool was filled with blood. This match is also known as the Blood Bath.