Mario Draghi activated the threat of the ECB after the Greek government showed its determination against the supposed leaked demands of Berlin through Reuters. (http://failedevolution.blogspot.gr/2015/02/breaking-greek-gov-says-german.html) After the Germans tested the determination of the Greek government and realized that the Greeks are not joking, they sent the message to Draghi to activate banksters' trap called European Central Bank.
“ECB’s Governing Council lifts current waiver of minimum credit rating requirements for marketable instruments issued or guaranteed by the Hellenic Republic.”
“Suspension is in line with existing Eurosystem rules, since it is currently not possible to assume a successful conclusion of the programme review.”
“The Governing Council of the European Central Bank (ECB) today decided to lift the waiver affecting marketable debt instruments issued or fully guaranteed by the Hellenic Republic. The waiver allowed these instruments to be used in Eurosystem monetary policy operations despite the fact that they did not fulfil minimum credit rating requirements. The Governing Council decision is based on the fact that it is currently not possible to assume a successful conclusion of the programme review and is in line with existing Eurosystem rules.”
“This decision does not bear consequences for the counterparty status of Greek financial institutions in monetary policy operations. Liquidity needs of Eurosystem counterparties, for counterparties that do not have sufficient alternative collateral, can be satisfied by the relevant national central bank, by means of emergency liquidity assistance (ELA) within the existing Eurosystem rules.”
The dirty role of the ECB has been accurately predicted already since 2012, through the unlimited purchase of government bonds in eurozone:
“... the ECB becomes a corresponding Fed in the European area, 'serving' the problematic economies that are excluded from the bond markets, through the print of new money. Therefore, the problematic economies will be loaded with more and more debt which the ECB, i.e. the largest private European banks will hold. Someone could argue that is not something new, since nations were facing huge debts in previous years, because they were indebted to banks through the excessive borrowing from the markets. But in this case, there is an important difference that makes things much worse: it is the cruel conditions imposed by the ECB to states that need to buy money. States that are excluded from markets, are now trapped within the neoliberal economic empire of the eurozone and will be forced to follow new austerity measures every time they need ECB to buy their bonds.” (http://failedevolution.blogspot.gr/2012/09/lea-jacta-est-by-emperor-draghi.html)
In case that Greece will choose to continue the resistance, it is quite possible that the ECB mafia will cut funding of the Greek banks through the ELA mechanism so that to close all the doors of funding. This will produce further panic to the Greek banks' depositors, therefore, actually an artificial bank run.
The Greek government should activate immediately the last defence line, which is a plan for a smooth, as much as possible, exit from the euro, and return to national currency. (http://failedevolution.blogspot.gr/2015/02/three-key-moves-new-greek-government.html)
The "battle of Greece" currently stands at a crucial point. In case that Greece surrender to the banksters eventually, the others will follow. The new feudalism will be a fact: “We will start with Italy and Spain. We will order rating agencies to attack, exclude them from markets and throw them to the ECB trap. They will be forced to take similar measures, as Greece did, in order to receive liquidity. Then, we will attack France and Germany.” (http://failedevolution.blogspot.gr/2013/12/an-imaginary-dialogue-between-bosses.html)
Post a Comment