EU – Organization Displacing Sovereignty and Exacerbating Economic Crisis

May 6, 2017

By Padmini Arhant

European Union came into existence with objectives not necessarily designed to promote growth and development even though touted as such to attract membership.

EU since inception in 1993 headed by representatives identified more with concept of alienation rather than unification evident in the policy implemented to benefit the selective few and privileged reining control over the system.

EU emergence followed by introduction of euro as a common currency largely benefiting the developed and dominant industrialized member than others in the union has been ineffective in addressing the serious economic crisis until today within euro zone and EU respectively.

The hardline approach to contain economic meltdown with austerity as antidote for fiscal responsibility in the absence of stimulus arguably weakened economy and escalated unemployment as well as poverty among vulnerable segments in society.

The measure is analogous to ailing patient administered with strong dosage of medication and treatment without any supplements for revival.

The euro claiming to serve members within euro zone created superficial buffer to exploit trade opportunities for industrialized, fragile and fledgling economies pegging local currency fluctuations to common trading unit.

The results have not been favorable for modest and struggling economies within EU competing with major partners forced into accepting terms and conditions suitable to keep euro afloat in contradiction to reality.

Whenever artificial mechanisms are in place in deviation from practical course, the bubble burst effects are far greater  in economic activities witnessed in recent memory. The euro zone members like Cyprus and Greece succumbed to extreme demands to prevent expulsion and in return surrendered sovereign assets in the deal with financial institutions viz. ECB, IMF and EC run EU.

EU economic platform poised as Europeanism essentially facilitates bankers control on monetary policy directly impeding trade prospects.  The debt bondage lasting generations in the repayment of debts and borrowings not subject to fair and transparent scrutiny with aggressive methods to secure collateral on euro zone and EU members state owned resources is yet another factor stifling economic recovery.

The model in disguise protects the interests of those profiteering from subjugated economies within EU.

Although protectionism is distorted in definition and application synonymous with democracy in politics, the global elites’ goals in preserving their exclusive rights to extraordinary gains regardless of economic pattern and shifting market dynamics not recognized as such in the secluded economic prosperity.

Accordingly, their choices in political representations in Europe and worldwide are those conforming to establishment and elitists personal enrichment over population progress.

In terms of EU status enabling free flow of goods and services including EU citizens’ ability to travel and work in EU region apparently not a big advantage for feeble economies trading on single currency euro with exceeding trade deficits.

The rising inflation and lower productivity in addition to local problems varying from employment conditions to public and private sector regulations requiring adjustments to EU protocol exacerbate economic woes that could be mitigated in normal statehood.

Similarly, the workforce is susceptible to layoffs with business preference to operate in EU territory hiring labor at reduced costs to increase competitiveness in the otherwise expensive European environment.

EU position on immigration and security is paradoxical considering EU coordination with United States in destabilizing sovereign nations whether Ukraine in Eastern Europe or Syria in the Middle East creating ISIS, ISIL and so on with EU decision to lift ban on weapons supply to terror networks in 2011, 2012 and later generated the refugee crisis at EU doorstep not to mention the terror attacks experienced in France and other parts of Western Europe.

EU governance overrides autonomy in the implementation of economic, political and humanitarian policies aimed at enhancing vested interests with little or no concern for adverse impact on citizens in Europe and EU intervention elsewhere.

The notion that EU provides economic and political stability is propagation to corral members in maintaining status quo with economies constricted to limited performance and EU strategy expanding the role and dominance as parallel government displacing EU member states sovereignty remains the fact.

EU overseers are the beneficiaries capitalizing on Eurocentric sentiments leaving the population more divided in the stagnant economy with simultaneous exodus and influx changing geopolitical landscape.

Any nations independence is solemn upon governance committed to defending sovereignty, territorial integrity and freedom of all citizens in the country.

Peace to all!

Thank you.

Padmini Arhant

Author & Presenter

Spouse in Divine Mission

United Nations – Social Economic Equality Possible Upon UNSC Dissolution

August 20, 2015

By Padmini Arhant

United Nations inception following world war II in the twentieth century with United Nations Security Council (UNSC) comprising imperial powers – Britain, France, United States, China, Russia and new addition Germany in P5+1 mislead UN purpose.

UNSC five permanent nuclear nations with veto authority is a hierarchy in contradiction to contemporary  economic dynamics and geopolitical landscape.

The global powers syndrome exercising prerogative at UNSC slight remaining members of United Nations set up as an international body.

UN poised as an International organization is on UNSC oversight.

UNSC P5+1 along with counterpart EU aim to prolong imperial era.

UNSC imposing economic sanctions against non-western countries and fomenting international crises through military interventions and operations involving terrorism rather than preventing them proved counterproductive.

UNSC arbitrary dealings against nations regarded adversaries with trade and financial embargo viz. North Korea, Cuba, Syria and lately United States and Israel created South Sudan are few examples of ongoing economic warfare.

Imperialism revived in UNSC ambit with P5+1 as former imperialists renewing aspirations in respective regions for economic and strategic dominance.

United States military prowess demonstrated in militarization of Africa besides extending support to France in neocolonization of the continent.

United States sprawling military bases worldwide not sparing island nations defines imperial goals despite colossal failure in invasion and occupation of foreign land adventure.

The expedition downside experienced in national front costing United States taxpayers in trillions expended in destruction of nations backfired in domestic economic situation far from recovery.

United States direct control over Latin America conspicuous in disabling democratic governments and promoting contraband substances ranging from drugs to arms in North, South and Central America.  The economic strategy Free Trade Agreement is one of many dimensions to exert rule in that domain.  The Caribbean nations debilitated by enforcing foreign economic and military plan.

United States and NATO military drills in Baltic sea, presence in Afghanistan covering Central Asia, United States activity in Korean Peninsula implementing Pivot Asia policy claimed as curtailing Russia and China incursions in the respective regions perpetually escalate tensions and proliferate conventional as well as nuclear arms race.

The skirmishes are also impetus for disproportionate defense spending producing more poverty and economic struggles worldwide.

Britain’s unwillingness to renounce empire trait in the twenty first century evident in impugns on Malvinas of the Argentinian coast, Gibraltar in Iberian Peninsula and nations held under dominion status notwithstanding substantial landmass in Antarctica and waters in Indian Ocean declared private estate.

France relentless pursuit in Africa is a lost cause refusing to learn from the past exploitation of Africa.

Russia having gained from territorial annexation of Crimea in the wake of Ukraine destabilization ominously assert Arctic zone i.e. the North Pole as state owned property.

Russian Federation attempts to resurrect ex-Soviet bloc largely attributed to United States and NATO upsurge in Eastern Europe and Central Asia.

United States and NATO coordination in Eastern and Central Europe other than Central Asia generated Russia formation of Collective Security Treaty Organization (CSTO) with Baltic states membership and China-Russia initiated Shanghai Cooperation Organization to counter existential territorial ambitions.

China’s predisposition on stretching border lines apparent since seizure of Tibet.

Furthermore, Maoist infiltration in Nepal and north eastern India enlarge China’s encroachment on Indian frontier with Arunachal Pradesh,  Ladakh and Aksai Chin Kashmir remaining contentious in that context.

Subsequent to economic rise in the latter half of twentieth century, China’s territorial disputes with neighboring states in South China Sea has intensified offering United States pretext to besiege Asia Pacific.

Middle East – Imperial alliance with Israel, Saudi Arabia and Turkey engaged in endless violence and proclamation of nuclear treaty between P5+1, EU and Iran epitomize two sides of the coin.

The paradigm shifts in western powers partnership with Iran in the region is reminiscent of western approach towards Libya for easy access to Libyan oil and economic resources during Libyan leader Muammar Gaddaffi governance.

Western maneuver in replacing Saudi Arabia with Iran and incentives to convince Israel on Iran nuclear deal clarifies imperial powers classic characteristics on enmity and amity to suit convenience.

Similarly, Iran’s close economic ties with Turkey amid Turkey’s overt indulgence in terror against Iraq and Syria spilling over to Lebanon pose conflict of interest exacerbating humanitarian plight.

The quid pro quo between P5+1, EU and Iran sharing commonality on imperial legacy depends on western forces balancing act with old ally Israel.

Western strategy with Persian nation Iran in Arab oriented Middle East is enactment of Persian and Ottoman reign vying for regional superiority.

EuropeGermany as P5+1 entity, European Union dominant member and euro zone chief beneficiary is hegemony augmentation in transatlantic..  Germany capitalizing on vulnerable EU members viz. Greece economic woes facilitate international creditors ECB, IMF and EC monopoly in executing imprudent economic scheme under the guise of rescue package.

UN credibility and viability jeopardized with UNSC decisions on international matter and UN missing in action on pivotal issues related to human misery. UN peace keeping corps reputation compromised in war torn nations especially Africa with allegations on certain UN squad for sexual assault and atrocities against women and children.

UN performance or the lack thereof in resolving Palestinian problem and leaving Sri Lankan Tamil civilians to fend for themselves from Sri Lankan military raid and summary executions…not barring partisanship on sectarian clashes confirm one world government agenda and resistance to transformation seeking departure from exclusivity and unipolar mechanism.

UNSC dissolution abandoning flawed system and relieving UN organization from external jurisdiction prevalent in UN Secretary General appointment and diverse engagement is the preliminary step in building reliable global consortium.

UN addressing disparity within would set precedence for universal equality.

Humanitarian progress made possible with recognition of errors and sincere commitment to amend and adopt positive measures benefitting the world at large.

Peace to all!

Thank you.

Padmini Arhant



















World Affairs – Glimpse of Developments during the week

July 17, 2015

By Padmini Arhant

Iran Nuclear Deal – The significance would be realized upon intentions transforming into actions in lifting sanctions as that affects people of any nation more than their government.

The blockade hurt economy which again impact population  especially the most vulnerable and economically disadvantaged in society.

The deliberate motive to stall economic progress of a nation through sanction is best abandoned not only on humanitarian basis but also from the economic standpoint considering adverse effects on global economy.

UNSC egregious decisions with misuse of veto power and sanctions on selective nations while the real offenders on nuclear proliferation such as P5+1 and allies maintaining status quo is a huge credibility problem confronting the world.

The dissolution of UNSC in possession of veto power could no longer be evaded or dismissed in the twenty first century with changing geopolitical and economic dynamics as well as social cultural environment.

Furthermore UNSC –  the unipolar exclusive club is responsible for human misery worldwide due to imperial aspirations authorizing military interventions and trade embargo on nations regarded P5+1 adversary and slight requirement to respect other nations sovereign rights in the world.

Any objection from UNSC P5+1 members to end hierarchy and accept all nations equal participation would clarify the purpose as polarization for unqualified dominance.

The nuclear pact with Iran would be meaningful upon P5+1 and allies including Israel’s disarmament setting precedence for a nuclear free world.

Meanwhile, the political exchanges on this issue projects a contrived performance to confuse world audience.

Greece – The ruling government capitulation to EU & EZ demand to receive bridge loan €7 billion to Greece banks and a subsequent €86 billion as third bailout to meet debt obligations to major creditors such as ECB and European Stability Mechanism ESM with Germany Bundestag proposals on setting up a trust comprising Greece public assets for privatization i.e. reserving Greece national and private properties as collateral is anything but remedy to Greece economic recovery.

The developments aim to protect predator practice reflective in Germany’s assertive goals and Brussels geopolitical strategy as confirmed by France Prime Minister Manuel Valls in response to opposition to GREXIT.

Any government or leadership myopic view on matter prolonging into major erroneous commitment is not fighting the battle and indeed surrendering weapons to those keen on further assault unlike the premier’s interpretation otherwise. 

On the contrary adopting pragmatic approach preventing the nation and people from endless debt cycle by returning to original currency bolstered with sound financial and economic reforms would be the saving grace. 

In the prevalent supremacy era with increasing ambitions to occupy nations under any pretext ranging from providing security, training foreign nations military and police force to installing Patriot Missile system like Germany did in Turkey in 2012 and the current rescue financial scheme for Greece evolving into seizure of sovereignty prompts citizens alert. 

The organizations and institutions betting on failed policy and flawed strategies to deliver anticipated outcome repeatedly deal with disappointment and calamity of greater magnitude.

The established pattern yet to be recognized counterproductive. 

EU and euro zone survival not possible in retaining Greece or other member states for vested interests with foundation premised on superficial settings contributing to collapse.

Greece and PIGS citizenry waking up to reality and assuming control of their life and livelihood through political and economic freedom not subjugation is the sensible alternative to the crisis.

Peace to all!

Thank you.

Padmini Arhant







Greece – Fix It Or GREXIT Dilemma

July 7, 2015

By Padmini Arhant

Greece despite unequivocal NO vote against austerity compromised soon after the outcome with the finance minister Yanis Varoufakis resignation on euro zone officials demand stating the minister was unwelcome in the meeting.

The euro zone and EU gesture speaks volume of the respect or the lack thereof to democracy given the promotion of western democracy worldwide.

Furthermore the disposition reflects on the one world government (NWO) i.e. EU in Brussels direct interference in political governance of the member state and dismissal of sovereignty.

EU and euro zone expect Greece to stay in the Union to share the burden on euro volatility alongside stifling competition on trade and tourism favoring the major players Germany using euro and England opting out of euro.

However, there is no incentive provided to Greece in alleviating economic hardship with financial assistance to restore domestic banking system, emergency liquidity and internal cash flow to stimulate economy.

Greece using euro as the national currency is unable to exercise money circulation and distribution along with controlling inflation otherwise Greece has no control over EU and euro zone implemented monetary, fiscal and trade policy.

In fact this situation applies to PIGS states and Eastern European members economy under Brussels mismanagement.

EU and TROIKA austerity imposed on Greece and other recession hit economies exacerbating financial problems in the private and public sector.

In the absence of economic growth with capitalization at affordable borrowing rates, the cash strapped nations are pushed towards adversity with austerity.

The austerity proponents exempt them from fiscal restraints considering expenditure in Brussels run parallel government appoint delegates in various positions leading to unnecessary bureaucracy.

The costs are transferred to the citizens of the member states especially in the lower economic strata like Greece. Hence EU insistence on Greece for additional hikes in Value added taxes (VAT) to perpetuate Brussels extravagant operation only serving oligarchy and vested interests.

TROIKA involvement in Greece deviating from financial activities to choosing governments with frequent elections and forcing the recent referendum cost the state in contradiction to their prescription on austerity.

The plebiscite outcome with a YES vote anticipated by TROIKA was aimed at removal of Syriza led government from power preparing Greece for yet another polls to install TROIKA approved government at exorbitant expense to the people in Greece.

Again there is no recognition amongst TROIKA imposing will that contributes to more spending in the intentionally caused political tensions for instability.

TROIKA striking down proposals from the current Greece government and extending status quo might satisfy egotistical stance and essentially conflate the problems affecting the creditors and debtor.

Euro future is hanging in balance with disproportionate benefits to members within circuit not to mention the superficial value on the commodity conforming to currency maneuver trend.

Greeks with similar desire to stay in euro zone and EU need to review the experience in the past years up until now.

The dependency on TROIKA and EU for necessary breakthrough has not been forthcoming to relieve the ailing economy and instead the woeful measures are regarded the appropriate remedy saturating public and private debt in the country.

Greece political party Syriza concerns about leaving euro zone upon no positive developments in the negotiations between government and TROIKA would have to be transformed into preparedness with alternatives in returning to drachma that facilitates independent strategy on monetary, fiscal and macroeconomic conditions customizing applications to match targeted growth and output.

As for explanation to the electorate on the issue – any discerning citizen would realize impediments no longer obscure in the false sense of security in euro zone and TROIKA cart blanche authority ignoring reality in the harsh austerity.

The political party shift to a position away from the one adopted on campaign trail would be a broken promise when the decision is to serve the purpose other than republic progress.

In this instance Greece cornered without flexibility to restructure financial operations for economic boost besides debt settlement.

The extreme demands necessitate the viable option to reinstate drachma with sound monetary policy and financial as well as economic reform attracting investments in the economy and capital infusion in the banking sector.

The excessive reliance on bailouts from external sources with the pledge to remain under euro zone confined perimeters and TROIKA doctrine as safe haven when results proved to be counterproductive exemplify confidence and trust deficit in self-emergence and competence.

Nations survive and thrive upon sincere commitment to lead and perform exceeding the expectations demonstrated in hard work and integrity as collective responsibility with transparency and accountability to eliminate corruption and contain failures in all endeavors.

The comprehensive financial and economic plan on Greece recovery will be submitted subject to outcome on EU summit and financial discussion between the incumbent Greece administration and the other side.

Greece could FIX IT in the event of GREXIT with pragmatic solutions and disciplined methods blended in inspiration and optimism for economic resurgence.

Greece crisis will be monitored with relevant input until the matter is resolved.

Peace to all!

Thank you.

Padmini Arhant


Greece – TROIKA Diktat Undermine Democracy

July 6, 2015

By Padmini Arhant

Greece was forced into a plebiscite and the people delivered the message with an emphatic NO vote.

Civilized are those who accept victory with humility and acknowledge defeat gracefully in any event.

TROIKA – the lenders direct intervention in Greece or any other nation’s governance is oligarchy exerting authority to stifle democracy.

The referendum rejecting austerity obviously regarded impediment by TROIKA in prolonging the devious debt slavery.

Greece is the initial target for the unscrupulous operatives in TROIKA to eliminate democracy for similar imposition worldwide.

The long conceptualized NWO – the new world order with EU accompanied by euro zone – the second model following the United Nations aimed at stripping nations of their sovereignty.

The moneylenders wells are drying and they want to fill them with Greece and PIGS states citizens tears despite the doomed fate upon TROIKA.

Human folly is presumptuousness and challenging forces when time is against them especially now the cosmic forces presence denying them any such opportunity forever.

I reiterate nothing is meant to exist for eternity in the creation by divine power.

Europe is on the precipice predominantly due to unbridled greed since time immemorial and became prominent through persisting imperialism.

European history is testimony to the fact the rise of feudal system forcing population into slavery to maintain parasitic culture among the self-proclaimed privileged class for their comfort and luxury had to reckon with popular uprising turning into revolution.

The cowardly practice using taxpayers funded police force notwithstanding trained private militia to quell public dissent cannot protect those in ivory tower any more.

I emphasize on the current cosmic time extending into future beyond the obstructionists’ dwarfed existence.

I am not here at the nefarious elements beckon call that I would exit on their insistence to disappear.

As the representative with divine mandate in the preordained divine mission honoring the Supreme power, the Almighty God’s  commandment and blessings, I remain committed in the mission to protect humanity and planet from thievery and incessant destruction.

Time is already proving the triumph (TRIAMF) of divine mission over the suicide mission.

Good Luck! to victims of exploitative scheme by TROIKA in defending liberty and sovereignty – the inalienable and non-negotiable right.

Peace to all!

Thank you.

Padmini Arhant












GREECE – Plebiscite on TROIKA Austerity

July 4, 2015

By Padmini Arhant

Greece forced into referendum on austerity by IMF, ECB and EU is greed driven strategy.

Greed is a terrible disease and those affected by this illness could contain symptoms with self-restriction. When they are overwhelmed with greed they succumb to fate. Greed consumes them.

Greed is the cause for them to become international predators than creditors.

Even Jesus Christ could not reason with moneylenders and compelled to use violence. Jesus Christ whipped them and condemned their unreasonable conduct.

TROIKA could address this matter through proper engagement with the present government and accommodate reality into equation.

Austerity has been devastating for nations and the people in Greece are simply threatened to submit to TROIKA’s extortion.

TROIKA and forces galvanizing YES vote in the plebiscite do not necessarily win with fraudulent means to show victory.

The YES vote to TROIKA would give legitimacy on debt slavery. The YES voters are in kamikaze operation for they are not only doomed, their careless action would make the remaining citizens to share similar destiny.

TROIKA’s bailout requirements is a direct claim and control over Greece economy and human capital i.e. the citizens to bear debt burden lasting over generations when the survival of the present population is made nearly impossible with their austerity policy.

Austerity on Greece is prosperity for TROIKA. Again not everlasting as anything founded on deceit and exploitation would expedite the source conclusion.

TROIKA is clueless about austerity considering the life of opulence they maintain as entitlement at Greece and other nations expense.

In the Dark Age, human mind is able to relate to pain only through personal experience. That’s why there is apathy to human suffering among those prioritizing personal well-being and pleasure.

The financial institutions behind GREECE meltdown were handsomely rewarded for the reckless and unlawful indulgence as investment bankers trading hedge funds with toxic securities in the global market.

These firms were treated with special attention using United States taxpayer funds in the bailout.

Now United States as the chief controller of IMF together with EU and ECB lack credibility in their demand on GREECE and people of other recession hit economies to oblige.

The people are enduring the sins committed by financial brokers and major players in the windfall adopting unscrupulous practice.

The compare and contrast between Germany and Greece do not reflect the facts and as usual missing in substance.

Greece contribution to the world with philosophers like Aristotle, Socrates, Thales and Epicures to name a few amongst several renowned in this field, astronomers – Aristarchus and Eudoxus, physicists viz. Archimedes, mathematician Pythagoras and political scientists are slighted in the biased comparisons presented as analysis by TROIKA hired communication media.

Germany success as euro zone member and leading state in EU is because of exceptional advantage to Germany over the rest in the 28 members bloc.

Germany – the predominantly export oriented nation specializing in heavy metals and high end manufacturing goods related to automobile, aviation and other transportation industry use euro in leveraging against Greece and counterparts from eastern Europe in trade.

German deutsche mark was not feasible in the export trade especially with Europe in deep recession and vagaries in the global economy.

On the other hand euro facilitates Germany to neutralize volatility via distribution amongst members in EU.

The debt saddled states like Greece, Spain, Portugal, Italy, Ireland (PIGS) and eastern European countries are essentially providing for Germany in the balancing act with investors raking profits in Greek bonds compared with low yielding German security in the lending exchange amongst TROIKA.

The banks capitalization exclusively focused on lending for debt repayment to TROIKA ignores economic development in Greece and PIGS states.

Greece returning to original currency drachma would enable export to developing nations and emerging economies besides tourism generating revenue with global visitors from far and wide.

Germany described as nation not paying high wages as Greece is a misnomer.

In fact Germany social security payments and unemployment benefits are far greater in the industrialized world and adapted by Australia in the hand out to those choosing to remain unemployed leaving the immigrants to drive the economy.

Australian dole checks largely drawn by white majority in the country is the influence of Germany policy.

Germany industrial output is from East Germany more than the west given the hard labor tradition under Soviet rule. Germany productivity also attributed to immigrants in Germany despite reservations towards immigrants in deutsche land.

Greece need to allocate budget to expand broadband access and invest in technology based government services that would cut down bureaucracy and shift the labor force in technology oriented jobs for efficiency and transparency.

Greece could also mobilize the nation towards renewable energy like solar and hydropower minimizing energy dependency and costs in the public and private sector.

Greece anti-corruption measures beginning with government from top to bottom would build trust and seriousness in the treatment of the epidemic.

Further on the economic front – Greece needs to use the natural resources such as marble, clay, nickel, coal, bauxite, ore and chromate notwithstanding lignite, petroleum, iron ore, zinc, lead, magnetite, salt and hydropower potential to the maximum.

Greece could promote local production and business in these areas with incentives to small, medium and large companies inviting subscribers to government projects and spearhead domestic campaign to bring offshore holdings to jumpstart economy.

Agriculture land to grow crops and produces for the country and overseas markets would be another economic boost alleviating poverty and unemployment.

Tourism showcasing the Greek islands and Parthenon’s and other attractions would be lucrative with drachma as the currency rather than euro to stifle competition from neighbors on euro currency that makes travel expensive for foreign tourists visiting Europe.

These are preliminary steps to rebuild Greece economy and improve financial situation.

Greece should recognize that existence in tandem with EU and TROIKA financing would only deplete the treasury. The money borrowed from them on austerity basis proved destructive thus far.

Calling for direct investments and job-oriented programs are the meaningful ways to revive economy.

The resistance from TROIKA in this context exemplifies profiteering from citizens’ economic misery that cannot be extended any longer.

Lending for exacerbating economic woes via austerity is TROIKA doctrine. The scenario is imposed with no flexibility for reconciliation.

TROIKA trend is unsustainable for them and the victims of austerity.

The prevalent austerity to intensify citizens plight best renounced and instead the practical approach to resurrect economy is the viable solution to Greece problem.

Greece is at the crossroads and citizens exercising discernment with NO vote in the referendum paramount to SAVE GREECE from foreign seize of assets along with economic and political freedom.

Nation prevails with people pledging allegiance to sovereignty.

May wisdom and rationale provide guidance in the Greece referendum!

Good Luck! to citizens and the government in Greece in the solidarity against austerity.

Peace to all!

Thank you.

Padmini Arhant


























Greece – Economic Crisis And Troika Deal or Extortion?

July 2, 2015

By Padmini Arhant

The ongoing economic crisis in the Mediterranean country Greece originated from the sub prime mortgage debacle in the United States in December 2007.

The hedge fund and international securities traded by investment firms nowadays as equity management companies viz. Goldman Sachs then engaged in Greece is initially responsible for Greece economic recession due to bad decisions and directives including misrepresentation to creditors at that time.

Goldman Sachs along with many financial institutions behind gross mishandling and mismanagement triggering economic bleeding in early 2008 experienced earlier in Iceland and endured until today in Greece, Portugal, Spain, Ireland and Italy viz. PIGS…in Western and Northern Europe were bailed out with no stipulations and granted taxpayers funds exceeding trillion in the United States treating the cash payout to bankers as their privilege.

Subsequently the global economic meltdown with severity in Europe weighted down Greek economy tied with euro zone.

The euro as the national currency in Greece and throughout EU excluding England with over optimism on the common unit has failed to deliver the value pegged to the unstable and superficial commodity.

European Union policy of austerity on Greece strangling the country with demands on economic reforms primarily favoring the international creditors viz. International Monetary Fund (IMF), European Central Bank (ECB) and European Commission (EC) or EU presided financial package essentially behind Greece default.

The troika imposed austerity to streamline spending in the absence of economic growth stimulants in Greece evidently debilitated the cash strapped nation.

The two bailouts to Greece in 2010 and 2012 €240 billion ($272 billion) substantially expended in servicing the debt to international lenders viz. the troika – IMF, ECB and EC as well as the financial institutions with stake in Greece rather than direct investments in the economy promoting employment and business prospects for the citizens across the country.

The massive layoffs, salary cuts and pension reductions in compliance with EU bailout requirement further exacerbated the economic situation.

Following the adverse effects of austerity, the Greek electorate elected the anti-austerity political party – Syriza headed by Prime Minister Alexis Tsipras forming the coalition government with the independent party in Greece.

The ruling party in Greece consistently maintained negotiations with international lenders since election on January 25, 2015 alongside systematic improvement in reform focused on alleviating poverty and adopting strategy to satisfy obligations on the bailout program.

The troika conditions to incumbent government request on the six months extension to bailout deal deserve attention.

Greece approached the international lenders aka Troika to grant from the profits on ECB held Greek bonds to meet the immediate financial needs. The fund €12 billion ($13.4 billion) was scheduled as the offer.

In that amount €1.6 billion ($1.79 billion) payment to the IMF on June 30, 2015 was the priority and now that date has expired. Another €6.7 billion is to be settled with ECB in July and August.

Greece was offered a possible bailout not intended to relieve the economy from deterioration instead to enable Greece to pass that amount €1.6 billion ($1.79 billion) to IMF as loan payment at exorbitant interest rates and prepare for payments to ECB within weeks of receiving the third bailout amount.

Greece essentially used by lenders to profit from lending through money circulation amongst them under the pretext of rescue scheme with Greek citizens forced to bear the lending costs and high interest.

  1. Reducing pension payments that would only affect consumer spending with impact on retail business and ripple effects on the wholesale and manufacturing on domestic products while restricting import from EU and abroad.
  1. Increase Value Added Taxes (VAT) – in the dire economic environment, the average consumers forced to pay more taxes in addition to hikes up until now to payback lenders is an extreme measure contributing to consumer woes and limiting business activity in return.
  1. Military Expenditure cuts – perhaps setting the stage for complete NATO control over the nation.
  1. Privatization of country’s airports – the proposition from EU and lenders is a deviation from relevant options and subscribe to ulterior goals.

In response to international lenders harsh austerity imposition;

Greece Government reforms comprised – efficient tax collection methods, social security system and streamlining government bureaucracy. The additional steps included anti-corruption and promoting business as well as backing privatization in the economic sector.

As a result of Greece government and Troika failure on the agreement, the referendum on July 5 is expected to reject or accept EU, ECB and IMF rigorous austerity.

Despite Greece administration’s numerous concessions and adjustments to accommodate EU and lenders chronic treatment evidently a flawed recommendation,

The lenders declined the roadmap that had 70 percent of Troika trails and 30 percent Greece government shelter to save the economically deprived population from abject poverty.

Prime Minister Alexis Tsipras has called the nation for NO vote on EU austerity in the upcoming referendum.

The last minute overtures from the Greek leadership to EU and creditors has been in vain.

Greece citizens need to understand the entire scenario and act accordingly to relieve them from the persisting economic calamity and potential power vacuum paving way for EU and partners to install the government of their choice like in Ukraine.

The present Greece government is poised to resign upon YES referendum to EU and international creditors ultimatum.

EU and creditors stringent austerity on economically struggling nations has been counterproductive. Yet there is no acknowledgment from them and the hard line approach towards Greece is similar to the neighbor Cyprus account.

Cyprus bailout was tied to closure of the nation’s second largest bank, Laiki Bank and a 47.5 percent cut on deposits over 100,000 euros at the Bank of Cyprus for recapitalization.

The same formula was applied to Iceland problem and led to brink of economic collapse.

Cyprus capital Nicosia was hamstrung like Greece now and Cypriot parliament pushed into first post-bailout budget prior to receiving €83 million as installment payment from Troika in late 2013 and early 2014,

The austerity on Cyprus was identical to instructions to Greece – pensions and salaries were targeted with the outcome being dramatic escalation in poverty and unemployment in the country.

Interestingly Troika projection on Cyprus economic status after EU and euro zone austerity was the gross domestic product contraction to 7.7 percent in 2013.

IMF, ECB and EC/EU prolonged austerity only tightens the noose around citizens to submit to unreasonable unaffordable trend.

IMF and World Bank legacy in transforming developing nations to banana republic as it happened in Argentina, Panama, Chile, Indonesia and Mexico…are few of many countries drawn into the debt dragnet.

The developments against Cyprus and Greece serve as strong reminder for the people to protect their sovereignty.

The international creditors regrettable actions thus far confirm the reputation as predators ignoring the fact that austerity alone without revenue not viable for economic recovery.

Greece is confronted with EU and euro zone pursuit to topple present government for the stance against austerity based on reality.

If the referendum on July 5 anything like the event on Scotland independence with fraudulent means generating the predetermined outcome, Greece future would be bleak.

EU attempt to expel Greece government with Prime Minister Alexis Tspras is tactfully deployed creating circumstances for the government to seek people consent on EU austerity in the background of Syriza party elected to power to spare the citizens from economic plight inflicted via austerity.

In a way EU’s tactical move is to turn people against the government with Troika officials not entertaining Prime Minister Alexis Tsipras modified reforms to satisfy lender’s extraordinary gains from human misery.

Greece would survive the economic and political storm on its shores in returning to original currency – drachma for euro survival is not possible considering the lenders’ and EU irrational economic growth resistant strategy crippling economies to the point of no return.

Greece was the first nation to introduce democracy to the world and when democracy is threatened by forces to unseat the caring government that prioritize people over self-interest, the citizens must rise to the occasion and safeguard liberty that would then guarantee economic progress.

Greece voting NO to austerity on July 5 and retaining their honor by rallying with the current government opposed to EU plan that denies decent wages, pensions and business opportunity for jobs would demonstrate fairness prevailing over darkness.

Troika deal is nothing more than extortion exploiting the critical moment in Greece.

Greece defiance to EU and international banks austerity is the saving grace.

Greece unity to proudly defend the country from overt control under the guise of monetary aid would prevent Greece economy from free fall.

The clarion call to Greece is to back your government under the leadership of Prime Minister Alexis Tsipras and alliance to overcome the external challenge.

The major stumbling block is EU and euro zone membership with inherent complexity such as any submission on economic matter is subject to review, debate and approval by every other member state parliament and political consensus within.

The irony – EU preaching austerity hardly observes the tradition with EU officials and delegations appointments and salaries being an extravagant affair.  Even to hire the EU appointee, the amount spent in the recruitment process is not less than million euro. 

EU insistence on fiscal discipline exempt them from the protocol. 

Good Luck and best wishes to Greece and the government of Prime Minister Alexis Tsipras in the speedy economic revival as an independent nation.

Peace to all!

Thank you.

Padmini Arhant