(This is a translation in English of  my proposals to the government that I posted on my blog in Greek three days ago.)

Two Measures that should be taken by the government that will facilitate the escape from the present financial impasse.

The present financial impasse that we are faced with in Greece is the work of the handy machinations of the Germans with the support of their local  sidekicks of Potami, New Democracy and the remnants of PASOK and its vassal states in North Europe, always with the enthusiastic cooperation of Mario Draghi, that refuses to provide essential liquidity to our banks fearing  a kick in the ass by the Germans if he does not follow suit.

Oblivious of the repeated pardoning that was generously granted to Germany on its huge debts by the victorious allies after the two devastations it had cause in the whole of Europe with  two World Wars that allowed Germany to recover and have an impressive growth in a few years after the Wars. The generous bail out after World War II was decided by the U.S.A. and forced on all its allies, including Greece for the sake of converting Germany into a powerful bastion against tramped up fears of the Americans for expansion plans by the USSR. Germany forgets now that Greece was also a signatory of the debt relief plan in 1953. Nowadays Germany is stuck in a combination of  a neoliberal mentality,  with its Lutheran mentality that justifies all criminal actions for achieving its goals. Luther’s second thesis for example for a solution to the Jewish  problem explicitly envisaged the extermination the Jews. Thus the “holocaust” in effect was dictated by the creator of their main Christian dogma.

Anyhow, you may say that bygones are bygones and the question remains of what we should do about the huge debt that has been forced on Greece since Germany that is now the effective leader of Europe refuses any mention whatever of and sort of a haircut or relief on our debt burden. Well, let me inform you that there is a solution waiting to be implemented by the government. The parliamentary committee on the country’s foreign debt has completed its work and its final verdict is that the debt is onerous, non sustainable and most important that all the debt agreements that have been signed by the governments of the time are illegal as they were never ratified by Parliament as is clearly stipulated by the Greek Constitution. Their illegitimacy is reinforced by the fact that in essence they were unilaterally decided by the lenders as Greece at the time was silenced by the overwhelming negotiating power of the lenders. The only thing that remains to be done by today’s government is to ask parliament to ratify the findings of the parliamentary committee into a law that would clearly state that the debt is onerous and illegitimate in every case and ipso facto nonexistent and any repayment of it would be an illegal action. This action will serve a deserving shock for Germany and its side-kicks that have for so long staunchly opposed any further curtailment of this onerous debt that they have unloaded on us and which has been considered as unsustainable by all experts that devoted time to examine it. In this way we will get rid of the main obstacle that is responsible for our present impasse.

With respect to the argument that the present government should honor the rule that a succeeding government has to respect the commitments of its predecessors our reply will be that we respect this rule of continuity of the state without any reservations but this government cannot continue an illegal action of the preceding governments. Therefore the immediate write off of these foreign debts cannot be construed as a unilateral action as our country cannot continue an obvious illegal practice.

Rabid is expected to be the reaction of the lenders and their local supporters of the opposition parties with the main argument the now worn out accusation that we are consciously paving the way for a grexit. Their argument will be proven as invalid as  we will witness in our country that which happens in every country that goes  head with a unilateral cancelation of its foreign debt to that unprecedented extent. In no time flat we will have access to the international markets as the potential lenders will be actually pressing us to borrow from them. This will allow us to secure the necessary funds to finance growth projects, cover any budget deficits and allow the country to return to the normal state that it enjoyed before the crisis.

In tandem with the above relatively easy to implement measure the government should expedite the major cleanup of the Mass Media sector that in essence still enjoys impunity for its exorbitant and deviously obtained financing from the banks by going ahead with two actions that have been late in coming. The first is that the corporations of the mass media should immediately pay the what they  owe to the the State, or have their operating license revoked. It is expected that all corporations involved will choose to comply with this demand of the State. A second move that should simultaneously advanced is the demand that all corporations involved should see to it that their capital structure of own capital and debt obligations should conform to the relationship of one to one stipulated by the law  on corporations. This of course will be an impossible task for them as they do not have the necessary financial means as they literally squandered or pocketed most of the funds they borrowed. The second alternative for them is to increase their own capital to a level equal to their total borrowed funds. An equally impossible task for them to realize for the same reason as the first alternative. This inability to meet these requirements of the legislation on corporations will bring their obligatory dissolution as stipulated by the law. This will be the end of the notoriously parasitic activities of this sector of the Greek economy.

Nikos Vlassopoulos

July 10, 2015