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'Who Runs Greece? Bankers Who Pit Poor Vs Poor'

World  (tags: Greece, austerity, Adrian Salbuchi, bankers, economy, riots, poor )

- 2648 days ago -
Who will benefit from the new set of Greek austerity measures, which got a violent response from the crowd on Sunday? Adrian Salbuchi, author and consultant, suggests it's the bankers, who are responsible for the economic downturn in the first place.


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Past Member (0)
Wednesday February 22, 2012, 7:34 pm
Noted. Thanks.

LaurenBackSoon Kozen (173)
Wednesday February 22, 2012, 7:49 pm
Noted & Shared. Thanks for posting, Dandelion.

Gary L (138)
Wednesday February 22, 2012, 8:21 pm
thanks dandelion your hard work is appreciated

H Nick H (1826)
Wednesday February 22, 2012, 9:30 pm
Thanks for sharing.

Caitlin M (104)
Wednesday February 22, 2012, 9:44 pm
It seems that much of the world today is engaged in revolution of some kind or another, on one level or another. Right now I think America needs to pay attention to its own problems and stop trying to be the policeman of the world or the savior of the world. It isn't doing a very good job at home and we citizens need to pay attention more closely than ever in order to protect ourselves and the country we'd like to keep intact. It is good to learn from those nations which have gone down the road to ruin before us (so to speak) and I thank you, Dandelion, for giving us a bit of a lesson.

Patricia E G (52)
Wednesday February 22, 2012, 10:28 pm
Greeece is not alone.

Arild Warud (174)
Thursday February 23, 2012, 1:00 am
Let me first thank Dandelion for her comment that most of the news here on Care2 is about the USA and to Caitlin's comment I would like to say that protectionism wont solve any problem,we're all in the same boat so we better row together or we'll sink.The problem in Europe is first and foremost that we have a currency without a Country and a central bank without the means to resolve these problems.Germany and Angela Merkel is doing pretty well but Countries like Italy,Greece,Spain and Portugal are paying a high price for enterring the Euro when they did because of the economic crisis that started in 2007/2008.Exports are failing due to outsourcing,families go broke when they lose their work etc.etc.It's a bad spiraling effect that will take years to overcome.We used to joke about it here in Portugal: "We have to big sport events that we all follow,football and avoiding the taxman",now it's not so funny anymore because as we all know there are two thing in life you can't run away from,the taxman and death.

Tania King (112)
Thursday February 23, 2012, 3:52 am
Thanks dear Dandelion for this great post!

Edwin M (346)
Thursday February 23, 2012, 4:40 am
Thanks Sheryl

Hanna Barney (0)
Thursday February 23, 2012, 5:53 am
let's hope that thier problems sont make it over here...

patricia lasek (317)
Thursday February 23, 2012, 6:11 am
The banksters and vulture capitalists must be stopped!

Craig Pittman (52)
Thursday February 23, 2012, 6:17 am
Thanks Dandelion. We can certainly pose this same question to ourselves. We here in the west clearly do not have governments by and of the people.

Past Member (0)
Thursday February 23, 2012, 6:20 am
I certainly wouldn't blame the politicians.

Stephen Hill (633)
Thursday February 23, 2012, 6:50 am
Thank you Sheryl for sharing this, with pleasure noted

Past Member (0)
Thursday February 23, 2012, 7:07 am
TU Dandelion for sharing, noted

Past Member (0)
Thursday February 23, 2012, 7:07 am

Liliana D (125)
Thursday February 23, 2012, 11:27 am
Noted, thank you for the post Dandelion.
In my opinion if UE fails, all European countries will support consequences. I do not know much about economic mechanisms but it is obviously that our world is ruled by bankers. For instance in my country comes a IMF commissioner who gives “recommendations” to our government, in order to keep low the budget deficit and to get the next credit tranche. My question is from where is all this money the IMF loans countries all over the world? My question is how come that more or less all countries need loans? The dictatorship is since long time begun.

Calle J (19)
Thursday February 23, 2012, 11:47 am

How Goldman Sachs Helped Mask Greece s Debt ~ mirrored

Alexander Werner (53)
Thursday February 23, 2012, 11:55 am
Liliana, some countries give loans to IMF. Canada does.

The problem is people like to live above their means even though they know it won't last. And people don't like to pay taxes even though they know that without taxes there are no roads, medicine, pension, etc.


Jose Ramon Fisher Rodriguez (13)
Thursday February 23, 2012, 12:40 pm
Mr. Salbuchi's video really did not tell me anything new. I live in Greece and could use a lot less simplistic self-serving analyses.

Terrie Williams (798)
Thursday February 23, 2012, 1:15 pm
It's getting rough all over, for everyone, who isn't obscenely rich...which is 99% of the WORLD.Thanks, Sheryl.

Robert O (12)
Thursday February 23, 2012, 2:17 pm
Thanks Dandelion.

Sheryl G (359)
Thursday February 23, 2012, 2:30 pm
I realize for those who live in the Country of Greece, this video may not seem like much, but for those who do not live in Greece, it may add to their information, or be a first time exposure. Bear with those of us, who are trying to learn of others Countries and plights.

Jenny Dooley (830)
Thursday February 23, 2012, 3:00 pm
Dandelion, thanks for this great post.

Eternal G (734)
Thursday February 23, 2012, 6:16 pm
Exactly, the little man is again forced to pick up the atrocious mess left by the ones who created it, who are inferior just for the simple fact that they are incapable of taking accountability...

Past Member (0)
Thursday February 23, 2012, 7:58 pm
Thanks for helping to keep us in the know.

Happy Birthday!

Sheryl G (359)
Thursday February 23, 2012, 8:27 pm
Thank you Zee, I don't feel a day over

Past Member (0)
Thursday February 23, 2012, 11:01 pm
The wealthy and the middle classes have been doing very nicely, thankyou, for years in Greece and this has done much to bring about the ruinous situation the country finds itself in.

Now the minimum wage has been cut. The poor suffering for the self-indulgence of the wealthy. If I were a poor Greek person, I'd be bloody angry too. We all would.

Rose Becke (141)
Friday February 24, 2012, 12:08 am
I agree with Roger Monk

Jose Ramon Fisher Rodriguez (13)
Friday February 24, 2012, 12:36 am
My main objection to Mr. Salbuchi's analysis is that he groups together situations that are very different (Argentina, Brazil, Greece) and his statements show clearly inadequate knowledge of the situation in Greece. It's not easy for me to try to sum it up in a couple of sentences, but I would blame the politicians first, then the EU for its inadequate enforcement of its own rules, and only after that both the bankers and the "common people", who are far from guiltless (though not uniformly guilty - that varies by a ton of degrees). The fact is that everybody, including myself, is guilty of not having "played by the rules" in many ways. Basically, both major parties have been found guilty of falsifying statistics and of gross irresponsibility in their financial management - the choice of Papadimos, which I had predicted a month before it happened, was as a "neutral, technocratic, acceptable" personality, much as Zolotas, then governor of the Bank of Greece, was chosen in the political crisis of 1989-90, which was also caused by horrendous corruption. The political squabbling that would have ensued with any but a neutral government in charge would have left Greece bankrupt because even agreement on forming a government, let alone any stance to take towards the debt crisis, would have been impossible. (maybe to be continued)

Jose Ramon Fisher Rodriguez (13)
Friday February 24, 2012, 12:41 am
The fact is that Greece did not objectively qualify for euro-currency membership, but it was allowed in for two reasons: 1) because in spite of not achieving the required thresholds, it had made very quick progress in their direction -- although that progress may also have been the result of falsified statistics -- 2) it would have looked bad to have one country standing out as a failure. Similarly, the EU didn't adopt a strong enough stance ("naming and shaming") about countries not following the rules required for them to join the euro in the first place (allowing debts and deficits to grow unchecked). No mechanism was created for the enforcement of the rules - basically, for requiring governments to live up to their word.

Angela Hunter (3)
Friday February 24, 2012, 5:35 am
As a country stuck in the EU, I can honestly say that borrowing money from countries to give to another is a ridiculous practice. So that the lenders will eventually find themselves in the same circumstances. Greece is a wonderful country, but they were living beyond their means as far as pensions were concerned, we have been forced to give ours up, so to have to give money to another country who wouldn't, is a bitter pill indeed. I didn't want Greece to go under at all, but they had to be part of the solution and not just make promises that they couldn't keep. This is the 2nd bailout and one my country can ill afford, seeing as how we are in recession too.

Friday February 24, 2012, 7:30 am
Greece is just a test case for the ruling elite to see how austerity will go down there. Depending on how things work out there, the ruling elite will introduce the same measures in the rest of Europe, then the U.S., and other countries.

These greedy bastards will sell their mothers for a peice of silver. The federal reserve, and their puppet politicians in both parties are gauging the American peoples appetite for how far they can stress the American people.

Thank God for occupy Wall street. Lets all plan to take to the streets ahead of the evils plans these greedy bastards have in store for us.

Kathy Javens (104)
Friday February 24, 2012, 7:40 am
Noted. My boyfriend & I discuss the situation in Greece almost every day. i realize thar there are many problems going on all over the world. But at this time, I feel we need to put our focus on healing ourselves before we , again begin to help others. How can we help others when we ourselves are so badly injured, so to speak.

Angelika R (143)
Friday February 24, 2012, 12:35 pm
Thanks Sheryl. My own opinion - other than what I've already commented on other's posts- is largely reflected in José Ramon's statements which are very accurate. Also Angela H. is raising valid points.
Naturally we all feel for the Greek and our hearts go out to those who now suffer (and likely will so even more in the time to come) without having caused the mess, but there are always two sides to every coin and it must be possible to address those other selfmade reasons as well.

Sheryl G (359)
Friday February 24, 2012, 1:47 pm
Thank you all for your comments and for those who either live in Greece, nearby or part of the EU for the additonal information. It is appreciated by those of us who may not have the most indepth understanding but are trying to learn, and how this may impact upon us in other Countries.

Maria Papastamatiou (4)
Monday February 27, 2012, 11:35 am
I would like to point out some things: First of all, up to now Greece has been paying back their loans with an interest of 5-6%, while Germans get an interest of 1% from their banks. Secondly, to give my personal example, for a pension of EUR 1700 which has been reduced to EUR 1100 I paid every month EUR 1800 and my employer another EUR 1800, and that was obligatory. If those in charge had made good use of that money, we would not have come to that point. It is easy to speak of high pensions, but one should be more careful if one does not know the background. Also, all our contributions were used by the country and no interest was given to us. Just for your info.

Sheryl G (359)
Monday February 27, 2012, 1:03 pm
Thank you Maria for your additional information. Is why I place this news on here, so discussion can be done. An area for people to share their knowledge and how it impacts individuals. We can all learn from others and what they are dealing with or going through, and my heart goes out to all the common people who in all of the various Nations have had little to no say on how their lives are impacted by the wheeling and dealing of those in seats of power. Is why it's important we share, we educate ourselves, for knowledge is our power.

Mark H. (0)
Friday March 9, 2012, 7:21 am
Excellent is the only word i can give u for this wonderful information, keep it up. I will come back again to read some more interesting things on this topic

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Nancy C (806)
Tuesday March 13, 2012, 7:34 am
Possible Bilderberg 2012 location revealed: Haifa, Israel
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