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Yet another scandal underway

Yet another scandal underway One of the most controversial of Troika’s demands for the approval of the latest bailout plan for Greece was the unconditional amendment of the Greek Constitution. Such an amendment would proritize the payment of Greece’s debt to its creditors over the country’s own demands. What that means in layman’s terms is that the country’s creditors will be paid first, while Greek citizens will continue to see their wages and pensions plummet. Moreover, taxation will go throught the roof while investments will come to a total halt. All this just to have the debt return to 120% of the country’s GDP in 2020, which is, ironically, the percentage of the Debt/GDP before Greece resorted to the IMF/EU/ECB bailout mechanism.

Image Credit: “http://vittoriomakesapoint.blogspot.com/2010/03/rant-greece-for-sale.html

Unfortunately, according to the latest Constitutional Amendment (2008), article 28 paragraph 2 leaves a door open for the Constituion to be amended after voting which requires only a 3/5 majority of the Greek Parliament. That specific paragraph clearly states that in order to promote national interest any international treaties such laws may be voted, thus bypassing the Constitution. Right now, the coalition government of PASOK and Nea Dimokratia do have the 3/5 majority required for the respective law to pass. You may draw your own conclusions…

Via: http://hassapis-peter.blogspot.com/2012/02/sos.html