Greece Resists Austerity Plan, Police Union Threatens to Arrest EU Lenders
Just one day after the most recent Greek "deal" was announced, it has fallen through yet again as neither side was actually satisfied with the most recent agreement.
With a new deadline of Wednesday now in place to determine the next phase of the Greek debt odyssey, all sorts of new issues have developed that could prove to be fatal for any hopes of a Greek bailout. The largest police union in Greece sent an open letter to the Troika, threatening to arrest bankers from the EU and IMF for charges related to the destruction of Greece sovereignty.
In part, the letter read, "Since you are continuing this destructive policy, we warn you that you cannot make us fight against our brothers. We refuse to stand against our parents, our brothers, our children or any citizen who protests and demands a change of policy. We warn you that as legal representatives of Greek policemen, we will issue arrest warrants for a series of legal violations, such as blackmail, covertly abolishing or eroding democracy and national sovereignty."
And while it is highly unlikely that police would attempt to arrest representatives from the EU or the IMF, the letter clearly indicates that the police are unwilling to enforce austerity measures or to put down protesters who are demonstrating against the plan. There is no need to look more closely than this single piece of information to realize that there is zero chance of Greece adhering to austerity measures, regardless of what type of "deal" may be agreed to by its leaders.
Without the police on board to enforce order and the harsh austerity measures, they will not exist and the conditions of any agreement will not be met. And while it's certain that most EU leaders have already figured this out, their desperation to try to recover their investments is forcing them into the false belief that Greek austerity is "worth a shot."
As any objective observer can see at this point, Greece would be far better off with an outright default on its debts. Sure, it would create chaos for the Greeks, but it will do so freely and with Greek sovereignty intact. And non-EU lenders would be lining up to lend Greece money - after all, they would no longer have any debt.
In part, the letter read, "Since you are continuing this destructive policy, we warn you that you cannot make us fight against our brothers. We refuse to stand against our parents, our brothers, our children or any citizen who protests and demands a change of policy. We warn you that as legal representatives of Greek policemen, we will issue arrest warrants for a series of legal violations, such as blackmail, covertly abolishing or eroding democracy and national sovereignty."
And while it is highly unlikely that police would attempt to arrest representatives from the EU or the IMF, the letter clearly indicates that the police are unwilling to enforce austerity measures or to put down protesters who are demonstrating against the plan. There is no need to look more closely than this single piece of information to realize that there is zero chance of Greece adhering to austerity measures, regardless of what type of "deal" may be agreed to by its leaders.
Without the police on board to enforce order and the harsh austerity measures, they will not exist and the conditions of any agreement will not be met. And while it's certain that most EU leaders have already figured this out, their desperation to try to recover their investments is forcing them into the false belief that Greek austerity is "worth a shot."
As any objective observer can see at this point, Greece would be far better off with an outright default on its debts. Sure, it would create chaos for the Greeks, but it will do so freely and with Greek sovereignty intact. And non-EU lenders would be lining up to lend Greece money - after all, they would no longer have any debt.
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