THE TAKING OVER OF A SOVEREIGN NATION

(Perhaps the begining of the IVth. Reich?)

The European Commission Task Force, headed by Horst Reichenbach, launches officially today initiatives to support Greece proceed with reforms. This Task Force is considered more powerful than Troika’s team sent before to write a report with reference to the Greek economic status. This is a group of technocrats with Commissioner Olli Rehn as a direct supervisor. The team would consist of European Commission and EU member states officials, and requests for participation have already exceeded 500, according to Rehn. Middle-level executives have already visited ministries and public organizations seeking issues for technical support. Although, officially the main agenda item is the National Strategic Reference Framework, it is considered clear that the substantial objective is to implement the terms of Memorandum of Understanding and promote necessary reforms. The meeting between Reichenback and Greek Finance Minister Evangelos Venizelos is scheduled for Tuesday, the first day of his arrival in Athens, is considered indicative. The former vice president of the European Bank for Reconstruction and Development is a man of Barroso’s absolute confidence, while his team would include also representatives of Greece’s lenders, who can propose measures. EU officials say that the Task Force’s role would expand as time passes, while there would be increased collaterals in case Greece receives the next aid installment and the second bailout loan. The aim is to avoid the repeat of slowdowns and delays in implementation of the memorandum, which provides reforms in public utilities and sector, healthcare system, insurance system, closed professions, etc. Many government officials anticipated this team in order to overcome intraparty and union pressures in areas of great influence. But there are also government executives who clamour for loss of national sovereignty in exchange for a new loan....And so, Germany(the IVth. Reich) takes over Greece, according to the Ribbentrop - Molotov Pact !!!

The new austerity measures, which follow relentless cutbacks over the past year, would further slash public sector jobs, wages and pensions, curtail collective bargaining agreements and impose a hugely unpopular levy on property owners The end of bargaining rights – viewed by both the EU and IMF as an essential step in making recession-hit Greece more competitive — has incensed unionists who fear it will lead to the abolition of the minimum wage. At least two MPs in Papandreou's increasingly divided Pasok party have said they will not endorse the measures because they are overly "anti-labor". With the ballot and two-day strike casting a shadow of uncertainty over the country, and the governing socialists trailing badly in polls, many believe that Greece is at a critical point. Appealing for national unity, Papandreou held crisis talks with Antonis Samaras, leader of the main opposition New Democracy party, in a desperate bid to build a "common front" in time for Sunday's EU summit, at which Greece is expected to be the focus of talks. Samaras' vehement opposition to the fiscal remedy demanded by the EU and IMF has caused deep consternation within both bodies. "International lenders are greatly concerned that there are two Greece’s," said one insider. "At the IMF's annual meeting it was the first thing that Christine Lagarde [IMF managing director] brought up in discussion with Venizelos. Everyone views political consensus as vital for the enforcement of reforms." The release of government figures showing a jump in unemployment rates from 16 to 16.5% heightened fears that the country is heading for a period of protracted political tumult. "We are at the beginning of the crisis, not the end," said Kyrtsos. "Greece's economy has contracted for five consecutive years. Before us lies political, economic and social disarray. We are entering uncharted territory."

Date: oct. 19. 2011-10-18

Mircea Halaciuga, Esq. 0040724581078 Financial news - Eastern Europe

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