Greece’s drama is often misunderstood in northern climes because past profligacy has overshadowed the exceptional adjustment of the past five years. Since 2009 the Greek state’s deficit has been reduced, in cyclically adjusted terms, by a whopping 20 per cent, turning a large deficit into a large structural primary surplus. Wages contracted by 37 per cent, pensions by up to 48 per cent, state employment by 30 per cent, consumer spending by 33 per cent and even the current account deficit by 16 per cent.
Alas, the adjustment was so drastic that economic activity was choked, total income fell by 27 per cent, unemployment skyrocketed to 27 per cent, undeclared labour scaled 34 per cent, public debt rose to 180 per cent of the nation’s rapidly dwindling GDP, investment and credit evaporated and young Greeks, just as their Irish counterparts, left for distant shores, taking with them huge quantities of human capital that the Greek state had invested in them.
What Greece needs now is not more cutbacks that push an impoverished populace into greater indignity, or higher tax rates and charges that crush what is left of economic activity. These “parametric” measures, as the institutions call them, have been excessive, the result now being a nation on its knees.
TAP – Before the Euro the economy worked. After the Euro it didn’t. Ireland must be taking note of what’s happening in Greece. The economy is being deliberately smashed to pieces. There was no need for any of it. It’s all simply part of the Satanic plan, to enslave and cut the population.
It all so nearly happened in Britain. In 2001 IDS won the Conservative Party leadership by one vote in the Parliamentary round. He was then nearly unseated as party leader in February 2003 by Michael Portillo in a coordinated media onslaught, but due to the work of activists (of which I was one) working against Portillo, IDS managed to hold on until October. Portillo’s media charge was neutralised and Michael Howard was brought in as party leader, who sat on his hands maintaining IDS’ Euro policy, and campaigning using the slogan that I wrote for Nigel Farage in 2000 – ‘we’ve got to do what’s best for Britain‘). IDS had declared the policy of Britain never going into the Euro for the first time in 2001. It is still Conservative policy to this day. It was no doubt fear fear of UKIP and Farage that kept Michael Howard in line as an opponent of the Euro. Farage too was a key part of the picture, as he still is today, although he’s being kept out of Westminster by the postal voting system brought in by Blair. Would IDS have won the Conservative leadership in 2001 without the threat posed by UKIP? Unlikely.
Iain Duncan Smith in 2001
Had Ken Clarke won the Conservative party leadership in 2001, or had Portillo unseated IDS in February 2003, there can be little doubt a cross party alliance between Blair and Clarke or Blair and Portillo, would then have pushed Britain into the Euro. Alistair Campbell’s memoirs make it clear that Blair saw Portillo as a key, not opponent, but ally. Whatever people think of IDS today and his role in cutting benefits, he was solely the reason (assisted by Owen Paterson, who at that time stood up to the system, but sadly does no longer) Britain escaped. Blair needed a cross party signing into the Euro, but thanks to IDS, he couldn’t get one. Now the Euro game is well and truly over, and we face more threats of a more chemical nature – this time fostered by Owen Paterson, GMOs, fracking, Monsanto’s glyphosate to name just three. Our environment and our lives are under attack more directly.
Had we entered the Euro, this is what would have happened to us by now – see Alistair Heath in next link.
You do wonder how politicians who were committed to saving Britain from the Euro like IDS and Owen Paterson in 2001, and who effectively saved us from it, have since gone over to working for the system that seeks our destruction. Have they been threatened? Were they offered cures to save their close relatives from deadly disease, on condition they do what they’re told from hereon? The personality change that you can see in Owen Paterson since he was promoted and then sacked from Cameron’s cabinet is quite clear. Is it just naked ambition driving him on? Or fear and threats, or addictions and greed? Something very powerful must be being held over his head to drive him to want fracking all over Britain, destroying our water and making us dependent on water imports in the future. He must know glyphosate is carcinogenic and GMOs. Yet he’s pushing them every time he opens his mouth.
Paterson as he used to be before they got to him