Enda Kenny Should Resign

June 28, 2015

economyscrewed

 

The Greek economy is screwed. Its structural deficit reduction has been 4-5 times that of Ireland’s since 2008. Think of the austerity in Ireland endured by its population, multiply it by 5.

Court jester to the troika and the creditors, Enda Kenny thinks Greece needs to come up with some pro growth policies.

Look at Greece circled in accompanying chart. The debt burden is increasing, growth has collapsed. It cannot serve its own public service in spite of horrendous cutbacks, never mind serve creditors their interest rate repayments. Policies forced upon it by creditors have led to economic collapse. The troika is demanding more austerity for citizens leading to further collapse.

It would appear the only method in this madness is to destroy the Greek government, destroy democracy, make the country ungovernable and unmanageable, before sending in tanks with law and order provided from a puppet government such as the Irish government, friendly to creditors, at some point in the not so distant future.

Both Kenny and his cabinet mainly Noonan and Charlie Flanagan have been sniping at Greek efforts to secure a debt deal over the past week. Charlie Flanagan, minister for Foreign Affairs, has stated actions and comments by the Greek negotiators have been “provocative” over the past week.

With its record on debt negotiation hitherto regarded as successful by this government we are dealing with a level of self-delusion unprecedented in Irish politics. They will not delude the Greeks as they defend against the latest IMF smash and grab. One pro growth policy not acceptable to Kenny is debt write-down.

Broadcast on: June 26th, 2015 by RTE interview by Cathal Mac Coilla

http://www.rte.ie/news/player/2015/0626/20803011-time-running-out-for-greek-debt-deal/

containing a relatively lengthy and revealing interview with Yanis Varoufakis  economist and current Greek Finance minister.

Enda Kenny and his cabinet avoid such interviews preferring their handler’s glib soundbites that hide incompetence and groom the public to accept dictatorial dictates that may not be questioned.

We could benefit from a televised debate style open forum between him and Yanis Varoufakis, Alexis Tsipras and Michael Noonan that would instantly cast light on his lack of ability and idiotic contribution to debate on Greece.

Perhaps one on the lines of the BBC’s Question Time together with a live audience who also field questions.

We would soon see through to his clownish tilting at windmills that would lay bare his embarrassing contribution to the debate on Greece.

We are unlikely to get this. Apologies for this slight digression.

Approximately 6 mins into the interview with Varoufakis, Mac Coilla ran a Kenny interview in which Kenny was asked :   “Is debt relief something that Ireland would support for Greece?” “No”(Enda Kenny).

Kenny has campaigned for debt relief for Ireland seriously bungling the matter with claims he had commitments for same, which have since evaporated.

Here he is May 2014 reiterating such claims “Mr Kenny said the implementation of a pledge by EU leaders in June 2012 to ease the cost of the Irish bank rescue should be part of Europe’s response to the election”

http://www.irishtimes.com/news/world/europe/taoiseach-makes-further-case-for-bank-debt-relief-1.1811734

Now both he and Noonan are sniping and attacking Greece for its attempt to vindicate its own requirements for debt relief.

In terms  of the politics of the absurd this is embarrassing to say the least.

How can we deny the Greeks their right to debt write-down and claim those same rights ourselves?

This is gross hypocrisy. Damage done to our own claims for debt relief on our shouldering of losses on saving German and French banks with tab sent to our taxpayers, is beyond belief.

It would appear Ireland supports Germany hegemony and its interference in the affairs of a sovereign country Greece.

Idiotic politicians from Ireland such as Kenny are jumping on the bandwagon and fanning the flames of opposition to Greece instead of supporting the Greek position.

These efforts are meant to destabilise the Greek government:

http://www.theguardian.com/world/2015/jun/07/jean-claude-juncker-angrily-accuses-greek-alexis-tsipras-lying-bailout-talks

Jean Claude Juncker EU commission president is not beneath trashing Greece and interfering in its political autonomy.  So long EU and welcome in GEU (The German EU)

Unlike FG/LB under Kenny  Syriza are committed to democracy and have called a referendum on Greek bailout. The Greek people can measure the heinous effects of bailout disguised in looting and pillaging of the public sector and can see through the lies told by Juncker.

Yanis Varoufakis in his interview stated Greece “Bent over backwards” to accommodate some “rather strange demands” from creditors and European partners.

Its ironic European ministers are not privy to these negotiations but are fed on propaganda from the negotiations given to them by the creditors.

Varoufakis noted Greece negotiating with the institutions, heads of state not negotiating with the institutions. They are kept in the dark as to the details known only to Greece and the institutions, but are willing to feed on the line/propaganda given to them by the institutions.

Yanis Varoufakis states if Noonan, Kenny were privy to those details, they would change their perspective.

I’m not sure he knows the level of incompetence he is dealing with.

As debtor nation under constant recession for the past 3 years they have responsibility not to make matters worse for the economy. Yanis states when he is asked to put his signature at the end of an agreement he knows is unviable, he is not going to do it!

Unlike Irish negotiators who sign anything they are asked to.

Kenny raps the Greeks over the knuckles for not having any pro growth figures before the ministers. The way Greece should go given Ireland’s example according to Kenny, “We did not increase income tax, we did not increase VAT, we did not increase PRSI, but we put up alternatives to those measures proposed in order to put up a pro growth policy and make our country competitive”. The lie is we did increase vat along with a plethora of hidden taxes.

Kenny increased vat and introduced odious austerity through the back door protecting the rich with unfair, hidden taxes, property taxes and water charges and public service salary cuts levied on the lower and middle class. He did what he was told to do.

According to Yanis Varoufakis Greece  has imposed 5 times the fiscal consolidation imposed by Ireland over the past 5 years. Greeks are the champions of austerity at this time.

Because of austerity measures the Greek economy shrank by 27% on back of pensions coming down by up to 48% and wages by 32%.

They have squeezed out of their public sector everything apart from low wages and low pensions. For 7 years quarter on quarter the economy is shrinking. Only 10% or 12% get unemployment benefit.

In Greece whole families with generations of the unemployed living on one pension there is nothing more to give.

For Joan Burton “Greece seems to prefer lecturing the rest of Europe”….So many critics of Greece in the Irish government.

Varoufakis has been excused of the heinous crime of explaining macroeconomics. Varoufakis, “It’s quite quaint that insisting on having a macroeconomic discussion at European level is considered to be condescending”.

On the contrary,  Varoufakis is holding up by his learned competence a mirror to the incompetence and quaint ill-informed if embarrassing position of Burton ilk.

Kenny and Burton are both against increasing taxes on corporations, on the rich, on large companies; they are both mouthpiece of a right-wing ideology. Strangely they ask for pro growth policies but refuse to countenance debt forgiveness as the only pro growth outlook for Greece. sinkhole

The Greeks have put forward a balanced proposal to their creditors. Perhaps we need to ask Kenny to outline his balanced proposals for Greece or justify his ill-informed nonsense?

Meanwhile in forcing Greece to the brink, IMF has breached its own mandate in partnering with the ECB and the EU.

It should immediately withdraw from the troika.

Classical way the IMF ingloriously worked  financial meltdown eg in Latin America in countries since its inception was, to support devaluation, debt write-down/relief with 40-50% losses born by creditors, re-engineering of the economy to support growth.

IMF’s meddling in the affairs of ECB and the EU under the principle of full repayment of unpayable bailout loans without devaluation or debt write-down has turned into an exercise in the excoriation and pillaging of a sovereign nation.

IMF should reexamine its own policies and mandate and consider whether its own leadership is up to the task of managing Greek fallout, or whether its own leadership under Lagarde is wanting another adult in the room to deal with this unfolding crisis.

High Five to Greece, go n’éiri an bothar libh.

 

till again.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: