19th Thessaloniki Documentary Festival
The documentary describes the European Central Bank’s (ECB) financial interventions in countries such as Italy, Ireland, Portugal, Cyprus and Greece. Featuring well known academics, politicians, and journalists, it analyzes the relationship between European Union institutions and big corporations and banks.
Screening: Sunday, March 05, 2017 - 22:00, room TONIA MARKETAKI
The revealing documentary by Aris Chatzistefanou deconstructs the myth of the "Europe for people" and exposes the real face of a peculiar financial dictatorship that is being imposed on its members through financial coups in order to force them to apply cruel austerity and the most extreme neoliberal policies.
Chatzistefanou describes his surprise when he met - to collect information for his documentary - with the head and coordinator of the "shadow council" which conducts meetings every month before the meetings of the European Central Bank (ECB) board of directors:
From the first day, Handelsblatt's Norbert Häring, has been set the president and coordinator of the council. He participates in every meeting, without the right of voting. When I met him a few days ago in Brussels for the filming of the documentary This is not a coup, I was prepared to face another passionate supporter of the European institutions. Speaking at phone, however, he warned me that his view does not express the decisions of the shadow council. But there was nothing that could prepare me for the "bombs" he would attempt to plant at the euro-system foundations.
At the start of the interview, he told me that “It is scandalous the fact that a central banker, like Stournaras, can state publicly that he had blocked the attempt of the [Greek] government to create a parallel currency, without ending in prison.” He also said that “This time, we don't have a silent coup”, like in the case of Cyprus, Italy, or, Ireland, “but a real coup that violates the responsibilities of the central bank and interferes to the political life of a country.”
According to Häring, ECB is able now to decide whether will sustain a government in power, or, will let this government collapse under the pressure of the markets - and that's exactly what happened with Berlusconi administration in Italy. He says that “The national central banks consist part of the ECB system and have a terrifying ability to blackmail governments.” Through the exchange of big bond packages, they provoke big interest rate fluctuations, forcing governments to give them anything they want in return. At the same time, “they continuously give information to the ECB, through which it can blackmail the governments.”