Eurozone uses bailout card as ‘egg laying hen’ against Greece
Bailout declaration may loom over Greece but not be imposed, otherwise the influential states of Eurozone will elude from usurps upon powerless nations including the Greek.
By Ahmed Khan
Greece, the old history holder of city states and torch bearer for human to show ways by eye of knowledge and the land of Socrates, Plato, Aristotle, Great Alexander and other Philosophers and scientists is plunged in crisis. The international media has focused on Greece’s monetary crises, particularly after the election which brought on prime post of the state a socialist party’s leader. The Greeks elected a socialist politician Mr Alexis Tsipras, who is striving to provide relieves in lives of his country people through socialistic tradition’s cataclysm.
The Greece is member state of Eurozone, consisting of 19 states of Europe that use single currency for trade. The France and Germany are the most dominant states on mentioned union. The Eurozone consist of Austria, Belgium, Cyprus, Estonia, Finland, Luxemburg, Malta, the Netherland, Portugal, Slovakia, Slovenia and Spain. Other small states in region also use currency of Euro but that are not member of union, formally.
In Eurozone, the bank of European Central Bank (ECB) was established by member states which have president and board for governing. The main objective of ECB is to keep control on inflation. The Eurogroup is composed of finance ministers of Euro States, but in emergency, national leaders also form the Group.
After Second World War capitalist Bloc’s godfather formed an institute ‘International Monetary Fund’ and this directs about policies to weak economic states and in return gives loan on high rate of interest. Capitalist World by this mean is absorbed to maintain this unnatural system. In fact, IMF and World Bank are similar organizations to keep in pawn the underdeveloped nations and keep people subjugated. The decade’s history has proved that IMF and similar forums never helped for wellbeing the people but these caused increase in poverty in world.
The IMF and European Central Bank have indebted the Greece on high interest rate to make bonded the Greeks. This country’s working class with all labor goes in pay-off of interest which each year dues in many. The IMF shapes policy of Greece to austerity which means to cut the morsel of Greeks but never decrease loans of them.
The Eurozone forum also is not being exploited for improvement in lives of people but this is being used for occupation of market and keeping under-handed to people of member states. The Germany and France sellout their products in markets of Greece and member states of Eurozone but they never cogitated about promotion and thrive of the discussed countries, especially to emancipate them from shackles of debts.
The Greece is on verge of bailout ostensibly but other member states Spain, Portugal and others are on the line. In this situation, the Eurozone main stake holders, the Germany and France may not declare bailout to Greece which will suspend extracting funnel from Greeks. The European Central Bank approved a sum of € 7 billion bridging loan from an EU-wide fund to keep its finances afloat until the bailout is approved for Greece; this mentioned bridging loan is to be approved on emergency by ECB.
The Greek Prime Minister Alix Aspisar conducted a referendum about bailout policy of Greece that was stamped for aquit from Eurozone and for bailout status of country. The Greeks want unchain from debts by IMF and ECB and want self-reliance of their country and smooth economy on social basis. They know that Europe’s democracy base on capitalism, never grant them prosperity but will increase more debts.
The Greece is country has scarcer industrial production and less developed compared with Germany and France. Hence, its markets are opened for mentioned states but the Greek product has no space and value in German and French markets vis-à-vis.
As Parallel, the Greek labor and agriculture products are bought very cheap by industrialist states of Eurozone union. In this way, the capitalism has demarcated between people; master and slave grades. The neoliberalism, further will nuisance the Greeks who developed as knowledge and least grown as capitalism, in marsh of debts. And this country people lives will be embittered, probably their upcoming generations also payoff the interests on fixed loans. They have only option to get bailout and put on the country’s economy social and equity path, then this luminous minded people’s country gets unchained from capitalists, otherwise the Eurozone won’t give them prosperity by use of despicable system of capitalism.
This is tipping point that how Eurozone states expel Greece from union which is like an egg laying hen for lender states and every day they enjoy laid egg by keeping alive hen. If Greece is declared bailout, so how and where from moneylenders get interest amount because other member states are also on line of being default.
The bridging loan and aid to Greece are like treating cancer by morphine tablet which temporally may soothe in pain but it is not panacea of disease. The salvation from capitalism is only way for Greece and for a gleaming future Greeks replace their present system with socialism.