Jeremy Warner: It’s Ever More Obvious, Greece Must Leave The Euro!

A protester holds a banner in front of the Greek Parliament during a peaceful rally attended by thousands on Wednesday against painful austerity measures. Source: http://www.telegraph.co.uk/

• Greece is merely a setup for an even bigger Spanish collapse! The Eurozone will collapse eventually (2012?). It is a question of whether the Illuminists are ready to implement the next stage of their planned collapse of the global economy. It appears they are not fully ready yet. Their plan is fraught with risks, they know it and will adopt a full frontal brute force approach: ‘To hell with the sheeple, laws, rules, national sovereignties…etc. All who oppose us will be decimated. We make the rules/laws!’
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• The problem is: many who are awake will simply man up and take the fight to them. If we are all going to die in Illuminists generated chaos, wars, economic collapse, engineered famines/diseases ….etc. We might as well go to war with the Illuminists who are screwing us for the sake of our future and our children! Why should we accept the genocidal madness of the Bolsheviks, Pol Pot, Mao Tse Tung ….etc.
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  It’s ever more obvious, Greece must leave the euro
  By Jeremy Warner, http://www.telegraph.co.uk/
  I’ve hardly been alone, but that’s no excuse. For more than a year now, I’ve   been regularly predicting the euro crisis’s final denouement, yet still it hasn’t arrived.
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  So I’ve been forced to reach a different conclusion; perhaps it never will.   Instead, the eurozone has entered a seeming state of permanent crisis. In   desperation, European policymakers have adopted a very British   characteristic – the hope that they can somehow just muddle through.
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  But though no   one can know the exact timing of the endgame – that’s ultimately for   the politicians to decide, so no time soon might be a reasonable bet – it’s   now fairly clear what that endgame must be.
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  What’s presently being played out among the GIPS (Greece, Ireland, Portugal   and Spain) is final proof that you cannot have a monetary union of such size   among sovereign nations without compensating fiscal union. That simple   underlying truth leaves the euro facing a choice between two equally   unappetising outcomes.
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  Either the richer countries carry on bailing out the poorer ones more or less   indefinitely, rather in the manner that Germany subsidises its formerly   communist East, or membership of the euro has to be reconstituted on a   smaller and more sustainable basis. There’s really nothing in between. The   longer European policymakers remain in denial about this choice, the worse   the situation will become.
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  So it’s with a sense of weary familiarity we approach the latest impasse. The   European Central Bank is implacably opposed to debt restructuring, but the   eurozone’s solvent Northern states have reached the limit of their appetite   for further bail-outs. This leaves Greece in an impossible position; it can   neither reduce its debt burden through restructuring, nor will anyone lend   it more money.
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  Who knows, maybe this time, the Greek sub-plot really will bring the euro’s   wider crisis to a head. Greece is apparently unable to agree additional   austerity measures so the International Monetary Fund is refusing to release   its share of the next €12bn tranche of bail-out funding, or at least not   until – and please don’t laugh – its eurozone partners commit to more aid   for Athens to plug next year’s funding gap.
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  From the sublime to the ridiculous, Greek newspaper reports have it that Prime Minister George Papandreou has threatened to call a referendum on the austerity measures if he cannot secure political agreement. The story has been denied, but it demonstrates how desperate the situation has become. Mr Papandreou is in such a fix that he was thinking of relying on the idea that turkeys really would vote for Christmas.
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  …. for the full article click here!

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