By Greg Hunter’s USAWatcdhdog.com
The Prime Minister of Greece, George Papandreou, has called off a vote by the people of his country on whether to accept a 130 billion euro bailout and stay in the EU. Earlier this week, the Prime Minister thought that would be a good idea and, today, not such a good idea. People there are asking for his resignation. There is talk that the Greek government could collapse. Meanwhile, the G20 meeting in the South of France at Cannes is consumed by the EU debt crisis. World leaders are looking for ways to stop a domino-like financial collapse.
Watching the coverage today, Wall Street wonks were actually giddy that democracy was stifled and a vote by the people of Greece was stopped. I heard one weasel on financial TV say a vote by the people of Greece was a “crazy idea.” Yes, democracy is a crazy idea when you want to sign up entire countries as debt slaves for a generation or two.
Of course, if the Greeks take the bailout deal, they will be saddled with debt and austerity (cut backs) for who knows how long. On the other hand, if Greece just defaults, they will still have the austerity, but the debt will be gone. Yes, it would be chaotic and difficult, but the moment they are relieved of their debt burden is the moment the country can actually begin to recover. Look at Iceland–they told the bankers to shove it, and they are already recovering. Don’t look for the MSM to do stories on Iceland’s recovery. It will continue to push the story of how the bailout deal is the best for everyone involved. You don’t have to be a rocket scientist to figure out a bailout for Greece is mainly good for the bankers who want to get taxpayers to pay for their mistakes.
You cannot tell millions of Greeks there will be a vote on a massive debt deal and then say just kidding, not going to happen. You can’t put that genie back in the bottle. I predict there will be a vote by the Greek people one way or another. It will be a nice, neat nationwide referendum or protests in the streets. In some way, the people will vote on the bailout or, better put, the debt slave package the bankers want them to take.