Their leader Timo Siino explains why in the WSJ. Their nationalist Euro-skeptic party recently made big gains in Finland.
To understand the real nature and purpose of the bailouts, we first have to understand who really benefits from them. Let’s follow the money.
At the risk of being accused of populism, we’ll begin with the obvious: It is not the little guy that benefits. He is being milked and lied to in order to keep the insolvent system running. He is paid less and taxed more to provide the money needed to keep this Ponzi scheme going. Meanwhile, a kind of deadly symbiosis has developed between politicians and banks: Our political leaders borrow ever more money to pay off the banks, which return the favor by lending ever-more money back to our governments, keeping the scheme afloat.
Hey, there’s no need to apologize for being populist, especially not when the looting and plundering is so obvious. “They only call it class war when we fight back.” Populist revolts are a healthy reaction to unhealthy times.
So, instead of letting insolvent banks fail, Eurozone banksters forced the debt burden on the public while insuring that they continue to profit. This is precisely what happened here in the US too, aided and abetted by the Fed, George Bush, and Barack Obama.
This Europe, this vision [the ideals behind the founding of the EU], was one that offered the people of Finland and all of Europe the gift of peace founded on democracy, freedom, justice and subsidiarity. This is a Europe worth having, so it is with great distress that I see this project being put in jeopardy by a political elite who would sacrifice the interests of Europe’s ordinary people in order to protect certain corporate interests.
Onerous bailouts terms were forced upon countries so insolvent banks would not have to take a hit on their dicey bond portfolios. Instead, the public is being forced to pay for it. Eurozone countries should do what Iceland did after the collapse of their banks. They defaulted on their bonds and filed criminal charges against their banksters. Their economy is now recovering.
It’s time to prosecute the Dodo Bird Bankers, parasites unable to survive on their own.
These dying beasts are on the wrong side of the law so often becauase they cannot afford to do things legally.