Debt Truth Commission: All the Troika Debt Is Illegitimate
The Debt Truth Commission of the Greek Parliament yesterday issued a preliminary, but extremely important, report on the more than 240-billion-euro debts which the European "Troika" institutions — the European Financial Stability Fund, European Central Bank, and IMF — claim against Greece. After extensive hearings and examination of evidence, the Commission found all of this claimed debt to be illegitimate, and that it should not be paid.
The findings strengthen the Greek government's position against these same institutions' demands for new, and suicidal, economic austerity measures against the Greek population. Furthermore they confirm the analysis published by EIR on behalf of Founding Editor Lyndon LaRouche in late February of this year, which found that the so-called "bailout debt" of Greece was a huge swindle, transferring European taxpayers' funds, via Greek government accounts, to bankrupt megabanks in London and Europe.
The Debt Truth Commission's report, says:
"It has also come to the understanding of the Committee that the unsustainability of the Greek public debt was evident from the outset to the international creditors, the Greek authorities, and the corporate media. Yet, the Greek authorities, together with some other governments in the EU, conspired against the restructuring of public debt in 2010 in order to protect financial institutions. The corporate media hid the truth from the public by depicting a situation in which the bailout was argued to benefit Greece, whilst spinning a narrative intended to portray the population as deservers of their own wrongdoings."
Political forces in other superindebted countries in the Eurozone will also be affected by these findings.