Greek Central Bank Chief Warns of Euro Exit !
- The real cause of the problem is the Euro. Greece exiting the Euro and returning to their Drachma is the best solution. However, Illuminist banksters want the sheeple to think otherwise. They want to continue to financially rape the sheeple by dumping the debts of the banksters upon their shoulders. They are bailing out the banksters, not helping the people. How long can the Illuminist banksters keep this up? Things are rapidly falling apart in Europe.
Greek central bank chief warns of euro exit!
By Valentina Pop, http://euobserver.com/
BRUSSELS – Greece’s central bank governor said his country would have to leave the eurozone if politicians do not stick to the austerity programme after elections due to take place on 6 May.
“What is at stake is the choice between an orderly, albeit painstaking, effort to reconstruct the economy within the euro area, with the support of our partners, or a disorderly economic and social regression, taking the country several decades back, and eventually driving it out of the euro area and the European Union,” George Provopoulos said in a speech on Tuesday (24 April).
Greece has signed up to a second, €130 billion loan paid mainly by other eurozone countries to reduce the country’s debt and recapitalise its banks, along with a major debt restructuring agreed with private lenders. But in return, an already austerity-weary Greek society has to stomach further spending cuts for at least another three years.
Meanwhile the economic outlook for 2012 is worse than expected. Instead of a 4.5 percent of GDP recession, the central bank on Tuesday estimated that the economy would shrink by five percent this year, Greece’s fifth year of recession.
For a long time a taboo topic, Greece’s euro-exit was first floated by French and German leaders last year when the former Prime Minister said he would organise a referendum on the austerity measures linked to a second bail-out.
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