Suspension of Democracy in Italy and Greece Signals Oligarchy's Drive For War
November 15, 2011 • 11:08AM

The removal of democratically elected governments in Italy and Greece and their replacement with "bankers governments" has brought the world closer to the Third World War. The liquidation of parliamentary democracies in Europe's southern flank signals the will of trans-Atlantic elites not to find a solution to the collapse of the global financial system, but to buy time while preparing for war.

President Obama, a key actor in the Italian and Greek coups, welcomed Silvio Berlusconi's resignation as Prime Minister on Nov. 14, as "positive." He was echoed by French President Nicolas Sarkozy and German Chancellor Angela Merkel, who endorsed the choice of Mario Monti, the Goldman Sachs advisor and former EU Commissioner, at the head of an "experts only" cabinet. Merkel went so far as to state that "the real Italy stays with President Napolitano and not Berlusconi," acknowledging the role of British agent Giorgio Napolitano as the executioner for Wall Street, London, and Brussels.

Berlusconi was toppled by neither a popular vote nor by a parliamentary vote, but by use of financial terror. Italian sovereign credit and Italian banks were targeted with massive speculation, triggered first when rating agencies downgraded their debt in May, and more recently by a European Banking Authority decision that forced European banks to get rid of Italian bonds. While the downgrading triggered the first wave of sell-offs that brought Italian bond yields to over 5% in August, the latter move triggered the most recent wave that pushed yields to over 7%.

The governments of the United States, Britain, France and Germany teamed up to blame Italy for a threatened failure of the euro system, and blamed the Italian government for "lack of credibility" towards the markets. Italy was put under increasing tutelage, with the EU "testing on Italy the powers of the new enhanced economic governance," as new European Commission Vice President Olli Rehn, Commissioner for Economic and Monetary Affairs, said on Nov. 9, before sending a team of EU and ECB inspectors to Rome to monitor implementation of EU measures.

Finally, when a run on Berlusconi's own family corporation Mediaset, led by two shareholding hedge funds, collapsed Mediaset stocks 12% in one day, Berlusconi threw in the towel and announced his resignation.

Before, during and after Berlusconi's resignation, Italian President Napolitano had abused his constitutional powers, acting as the real executive, making it clear that he would designate Monti and conspiring with foreign powers to do so. Parliament was only allowed to rush through a "stabilization law" containing all demands of the famous ECB secret letter of Aug. 5, minus the infamous "structural reforms." These latter will be taken care by Monti, who announced that he will have no politicians in his cabinet. Napolitano counts on having a new government sworn in and voted up by Parliament by Monday, Nov. 14.

Monti is a cold-blooded economic hitman. In an interview on national television La7 on Sept. 26, Monti said the following on the euro crisis and the brutal policies imposed on Greece:

"Today, in my view, we are watching — it is not a paradox — the great success of the euro. And what is the most complete manifestation of the great success of the euro? Greece. Why? Because the euro was yes created to have a single currency, but above all to convince Germany, which made the great sacrifice of giving up the d-mark in exchange for a common European currency, that through the euro and the constraints attached to the euro, a culture of stability (President Ciampi always called it the culture of stability) would spread to everyone little by little. What better textbook case could have been imagined, as a borderline case, of a Greece giving — being forced to give — enough emphasis to culture of stability and transforming itself?"

In the "textbook case" of Greece, democracy has also been suspended in order to slaughter the nation and its people. The new Prime Minister, Lucas Papademos, is a former Vice President of the European Central Bank and former governor of the Bank of Greece. Since leaving the ECB in 2010 he has been chief financial advisor to outgoing Prime Minister George Papandreou whose advice had everything to do with the implementation of the European Union bailout and its "memorandum of understanding." Papademos has never held elected office.

The new Greek cabinet is filled with former EU Commissioners. Power behind the new prime minister will be Horst Reichenbach who heads the infamous European Commission task force for Greece which is expected to be greatly expanded and deploy through the Greek ministries to "assist" in implementing austerity and "restructuring" of the Greek economy.