A Greek explains why their debt crisis affects us all


I have never been more desperate to explain and more hopeful for your understanding of any single fact than this: The protests in Greece concern all of you directly.

What is going on in Athens at the moment is resistance against an invasion; an invasion as brutal as that against Poland in 1939. The invading army wears suits instead of uniforms and holds laptops instead of guns, but make no mistake – the attack on our sovereignty is as violent and thorough. Private wealth interests are dictating policy to a sovereign nation, which is expressly and directly against its national interest. Ignore it at your peril.

Those private wealth interests, among their numerous odious agendas, want to force the public of debtor nations like Greece to pay for the greed and excesses of the banking class and to force those countries to sell public assets to them. First they rape, then they plunder.

Sturdyblog refutes many myths about Greece, showing the country is not lazy, does not retire early, and is not a weak economy. Yes, too many Greeks bought the easy money credit line (just as happened here in the US with home equity lines of credit) and now it has all comes crashing down upon them. But the bailouts are designed solely to protect the banksters and the euro, regardless of whether they impoverishes Greece.

The biggest myth of them all: Greeks are protesting because they want the bail-out but not the austerity that goes with it. This is a fundamental untruth. Greeks are protesting because they do not want the bail-out at all. They have already accepted cuts which would be unfathomable in the UK.

If you think this can’t happen here or in other European countries or the UK, think again. It can. The banksters are desperate to not take writedowns on their sovereign country holdings because many of their banks are effectively insolvent and are being kept afloat by what can only be called accounting fraud and propped up by forcing debtor nations into poverty to pay back loans rammed down their throats.

Help us by spreading this message to others – don’t let the media airbrush it out of existence, like they have done with the people of Madison, Wisconsin and the Indignados in Spain. Raise the matter with people in power. Ask questions. Talk about it in the pub. Most of all, wake up before you find yourself in our situation.

Nassim Nicholas Taleb is the Lebanese-American philosopher who formulated the theory of “Black Swan Events” – unpredictable, unforeseen events which have a huge impact and can only be explained afterwards. Last week, on Newsnight, he was asked by Jeremy Paxman whether the people taking to the streets in Athens was a Black Swan Event. He replied: “No. The real Black Swan Event is that people are not rioting against the banks in London and New York.”

Emphasis added.


UK banks abandon eurozone over Greek default fears

UK banks have pulled billions of pounds of funding from the eurozone as fears grow about the impact of a “Lehman-style” event connected to a Greek default.


  1. I remember the time when certain European countries objected their contribution to the rescue packages they came under strong criticism but now it is clear that their reasoning was right. We can’t expect that the crisis can be resolved by collecting more and more money from the rich countries as well as from the poorest ones. The Greek default would at least force France and Germany to save their own banks instead of promoting this unfair scheme.

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