Greeks Ignorant – Papademos’s Involvement In Greek Crisis

 

December 10, 2011 by Richard @ I4W

Athens News carried an article today saying how 3 out of 5 Greeks approve of Papademos as Prime Minister.

How is this possible?

For one thing he is unelected, do Greek’s now want to get rid of democracy?

And secondly Papademos has been a key player, indirectly or directly, that has led Greece to the problems it has today.

To recap on Papademos.

Papademos was governor of the Greek Central Bank when Greece entered the Euro.

When Greece entered the Euro it was because the Greek public finances has been fraudulently put together, a fact recognised by most people including Sarkozy.

This “cooking” of the books is what has led directly to Greece being able to run-up unserviceable debts.

What Papademos’s involvement was in the cooking of the books I do not know. But what is known is that Papademos was overseeing the Greek Economy until May of 2002. And the Euro started circulating in Greece in January of 2002.

So to summarise. The finances of the Greek state were manipulated while Papademos was overseeing the Greek economy/currency in his role as governor of the Greek Central Bank.

But Papademos’s direct or indirect involvement does not end there.

After Greece had joined the Euro, with false economic figures, Papademos has then taken up a new post as Vice President of the European Central Bank, the ECB.

Again the ECB is supposed to manage the Euro currency and control the supply of Euros in the Euozone. From May 2002 until December 2010 Papademos has been observing, measuring, analysing and generally involved in the management of the Euro in the Greek economy, but despite his postion of power, he has failed to highlight or notice the fraudulent figures that Greece used to get into the Eurozone.

And during this time Papademos has also been overseeing the Euro while the Greek government has been running up these massive debts.

Papademos’s ignorance, deliberate or otherwise, has directly led to the Greek government running up unserviceable debts resulting in the Greek economy going into a depression.

And despite Papademos’s alleged role as manager of the Drachma immediately prior to Greece’s entry in the Eurozone and despite Papademos’s alleged role as a manager of the Euro currency, Greeks, for some unknown reason, think he is an acceptable choice given is record of financial management over the past 20 years.

Why is Papademos an acceptable Prime Minister to Greeks given that he has been involved in the management team that has led Greece into its deepest depression in recent memory?

Do Greeks understand what Papademos has been doing for the past 20 years or do Greeks know what Papademos has been doing but are simply hoping that things will be different this time?

Greeks Ignorant – Papademos’s Involvement In Greek Crisis | Independence4wales