Transfer union instead of Grexit

by Prof Dr Eberhard Hamer

Since long, Europe  has been in a state of tension between countries and governments on the one hand, which  regard the European headquarters as a vicarious agent for Europe’s nation states and do not want to give up the European countries’ principle of sovereignty and on the other hand the Juncker clique and EU officials in particular who are enforcing a centralisation of sovereignty from Europe to Brussels.
The week-long wrangling between Greece and the other euro countries was not only a haggling about money, but above all a power play: If European countries represented by their national parliaments wanted to and were allowed to spend money sovereignly, they should actually also have their own budgetary responsibility, and bear the consequences of their budget decisions. The no-bailout clause of the Lisbon Treaty therefore rightly expected that other European countries  had not to be held liable for the spending excesses of another country. Europe therefore needed a bankruptcy order, a regulated process in which individual euro-countries could not just socialise the effect of their own financial recklessness in Europe, but had to bear it on their own.
The Juncker clique on the other hand strives for a centralised political union with central financial sovereignty over the member states (fiscal union). The European Commission therefore intends to seize the financial difficulties of individual European countries such as Greece onto itself and then offer collective European solutions for them – but in reality merely in order to incapacitate the countries financially and gain central financial power over them.
So bailouts and debt funds were available during five years, although they did not help to improve the situation, but instead dramatically increased the debt totals of Greece from 80 to 320 billion euros. And now a third rescue package is under way, which probably puts at stake  more than a 100 billion euro by which the EU Politburo intends to gain control and financial guardianship over Greece.
Behind this are the EU Politburo’s lust for power and the pressure by America aiming at  keeping Greece in the euro zone at any cost because of NATO. So in future, we will go on to pay money regularly, not in our own interest, but in the interest of the EU central power and the Atlantic occupying power.

What are the consequences of the Greek bailout?

After the Greece-decision of 12 July 2015 by the Eurogroup was accepted  by the parliaments,

  • Greece has largely lost its financial sovereignty, has set itself financially under the tutelage of EU headquarters,
  • the EU headquarter has desicively enforced its claim as the financial central power (fiscal union), this will not happen only in Greece, but in other cases as well it will be regarded  as a helping, controlling and financial decision-maker over the euro zone countries,
  • the United States have  enforced their claim for “NATO unity at any price” at the expense of Europe
  • and has, contrary to the no-bailout clause of the Treaty to Lisbon, established a transfer union between the euro zone countries.

Above all, Italy and France have been interested in the “help” for Greece, as they are facing the same problem and probably soon need euro help as well. They are both politically not strong enough to carry out economic reforms, thus they will automatically slip further into debt, and thus into the auxiliary zone. It is not difficult to predict that the other countries will follow, when it is easier to organise help as domestically enforce reforms – until finally the whole Euro-club will be drowned in debt and will need a general adjustment (currency reform).

Consequences for Germany

The now coming third aid package for Greece will not halt at 86 billion (plus 35 billion restructuring aid plus 15 billion regular Greece subsidy), but will constantly be subsidised further, as a financial compensation. This also happens in Germany, where, for example Bremen refuses steadfastly to reduce its constant deficits, because it is permanently and comfortably supported by the thriftier countries’ financial compensation. In the German financial compensation system, two-thirds of recipient countries have comfortably installed themselves in the long run on the help of three donor countries. The same will be the case in the European Union, which has become a transfer union, albeit in more dramatic (debt) sizes.
So the path mapped out by the ECB called “euro-easing”, i.e. the uninhibited multiplication of the euro as well as the dollar currency in the US becomes compulsory. In both zones saving is no longer wanted, but instead multiplication of money, in other words a money glut.
The US are discussing seriously, “to drown their dollar indebtedness in dollar flood”. Likewise, in Europe, Draghi  and the Euro Politburo aim at keeping the debts up while  increasing the money supply.
For Germany this means the end of the hard euro, the weakening and devaluation of our money and going in direction of increasing the money quantity to galloping inflation and finally to currency reform – as it has always been in history when money supply was augmented.
That way Germany will become impoverished. The more it has to pay in transfer, the more the revenues of its own citizen will be deducted for redistribution. In this respect, the alleged aid for Greece marks not only the depletion of Greece, but also of all of Europe and Germany.

What can be done?

After their decision to turn to dollar flooding, the Anglo-Saxon financial oligarchy began  to buy up all material assets and companies in the world with their freshly printed dollars. Today again there are  increasing business acquisitions by US firms in Germany and Europe, which still want to invest their dollars becoming ever more worthless in company shares.
And China with its $ 3 trillion dollar-assets buys everything  at any price in the world in order to switch  from  the money with its dwindling value to tangible assets, just in time.
Also with regard to private matters we should recognise that the euro can not remain solid in a transfer union and with a ECB that is busy operating euro-flooding. Therefore he, who is sitting on money values and does not switch into property values early enough, will lose. Whoever takes his chance to do this first, will gain most. If all do, inflation will accelerate accordingly.
Insofar, the Greek deal from July 2015 has

  • not freed Greece from debt, nor has it reformed Greece, but only helped it to stay temporarily afloat,burdened the European donor countries with new debts for long-term subsidies,
  • given the Brussels Commission a growing financial expertise and transfer sovereignty – and has turned Europe into a transfer unionand maintained NATO united against Russia, at a high price for Europe,

The debt orgy in Greece and Europe will continue, but will be answered by euro-flooding instead by saving. Instead of  the due national bankrupcy in Greece, Europe only wants to gain time, but embraces  a subsequent total bankruptcy that will occur later.     •

(Translation Current Concerns)

For all who are interested

Starting at the end of August 2015, the book, published by Argyris Sfountouris in Greece in April, is also available in German in an extended and illustrated edition, entitled:

“Trauer um Deutschland” (Mourning Germany)

More detailed information find here:
https://www.verlag-koenigshausen-neumann.de/product_info.php/info/p8298_Trauer-um-Deutschland-Reden-und-Aufsaetze-eines-Ueberlebenden-Herausgegeben-von-Gerhard-Oberlin.html/XTCsid /mtlu8r9giq3oqmg8gemmsuoju5
With best wishes and best regards
Argyris Sfountouris, argsf(at)yahoo.com