DAILY TELEGRAPH CONDEMNS MOVE
The Greek PM should’ve ignored the pleas for mercy and fired the BoG boss last May 10th: but hindsight is a wonderful thing. Either way, this morning the Telegraph’s chief financial columnist Ambrose Evans-Pritchard (who has been increasingly anti the EC/Eurogroupe bullying in recent weeks) wrote a column giving Stournaras a very severe ear-wigging, the gist of which is summed up by this paragraph, which leads with an extract from the BoG warning:
‘“A manageable debt crisis would snowball into an uncontrollable crisis, with great risks for the banking system and financial stability. The ensuing acute exchange rate crisis would send inflation soaring.”
The central bank did not present these as potential dangers in a worst case scenario – something we might all accept – it asserted that they would occur unless Mr Tsipras agrees to terms imposed by Brussels before the Greek treasury runs out of money.’
This represents in my view a clear case of political use of a government institution; AEP agrees, calling it ‘a political assault on its own elected government’.
Sadly – as with Britain, the US and the entire EU – the rule of law is applied illegally upon dissenters, and dismissed as an irrelevance by the accusers within our élites.
I think it is way past the time when David ‘Merkellicker’ Camoron should be condemning this openly – but he won’t, of course. And there’ll be no sign of dissent from the UK’s Labout Party either, because it is busily engaged in electing a new loser sorry leader.
But this is yet another example of how national and supranational entities are really there in 2015 to do whatever it takes to ensure global media, manufacturing, distribution and banking firms get their way. Whether it be Coulson being deemed not guilty, or IMF/Stournaras conspiracy against Syriza, or US fomenting unrest in Ukraine, Macedonia and Hungary, the names change but the ethics don’t: “Obey or die”.*
Yesterday at The Slog: 20 reasons why mouthpiece Hannan knows nothing about Greek debt