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Beta testing Greece as it loses sovereignty

This is how to strip away the rights of any sovereign government: huge unpayable debt. What country will be next?

Greece loses EU voting power in blow to sovereignty
The European Union has shown its righteous wrath by stripping Greece of its vote at a crucial meeting next month, the worst humiliation ever suffered by an EU member state.

By Ambrose Evans-Pritchard, International Business Editor
Published: 7:56PM GMT 16 Feb 2010

The council of EU finance ministers said Athens must comply with austerity demands by March 16 or lose control over its own tax and spend policies altogether. It if fails to do so, the EU will itself impose cuts under the draconian Article 126.9 of the Lisbon Treaty in what would amount to economic suzerainty.

While the symbolic move to suspend Greece of its voting rights at one meeting makes no practical difference, it marks a constitutional watershed and represents a crushing loss of sovereignty.

"We certainly won't let them off the hook," said Austria's finance minister, Josef Proll, echoing views shared by colleagues in Northern Europe. Some German officials have called for Greece to be denied a vote in all EU matter until it emerges from "receivership".

The EU has still refused to reveal details of how it might help Greece raise €30bn (£26bn) from global debt markets by the end of June. Investors are unsure whether this is part of Kabuki play of "constructive ambiguity" to pressure Greece and keep markets guessing, or reflects the deep reluctance by Germany to be drawn deeper in an EU fiscal union. Greek bonds sold off as ten-year yields jumped to 6.42pc, but the euro rallied to $1.3765 against the dollar as broader issues resurfaced in currency markets.

More here:

http://www.telegraph.co.uk/finance/financetopics/financialcr...



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What are gold and silver going for on the streets of Athens?

It will be interesting to watch this play out.

Truth exists, and it deserves to be cherished.

Losing the right to vote in

Losing the right to vote in the EU doesn't really seem like a loss of sovereignty. Rather, it seems more like a step towards sovereignty.

Sovereignty, after all, means that the nation would not be subject to external control. It means that their government is the highest authority within their nation.

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That's exactly what I was thinking.

Hurray for Greece.

Hurray for Iceland.

Regain sovereignty by ditching the EU.

SteveMT's picture

You're right except that Greece is bankrupt.

The other members will unilaterally begin dictating taxes and spending cuts to be placed on Greece. They are or will soon be non-voting silent members, who still must abide with what is decided if they want the money (and create even more debt for themselves).

What does bankruptcy have to

What does bankruptcy have to do with sovereignty?

If Greece went bankrupt back when they were a sovereign nation, even though they would have plenty of political problems they would still be a sovereign nation.

It's different now because Greece is a member state of the EU.

Let things get bad enough for Greece and who knows, maybe they will decide that the deal is no longer good for them and they leave the EU.

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Well they don't "have to"

But then again, that's more of a Spartan characteristic. Hopefully there's some of that DNA left in some of those citizens.

+...Pray for Your Enemies and Moral Courage for Righteous Leaders, so that Justice Will Be Delivered to the Innocent...+

Do a Google Trends search on

Do a Google Trends search on "chemtrails" Greece is the #1 country, they aren't stupid- remember all the protesting they were doing against Multinationals.. they were making it happen.

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Thanks for pointing that out...

However, I have a good example of mind over matter. I know a couple of Dentists that have said, people have the ability to think themselves out of numbing agents. Either worry, anxiety, or some other emotions can render the numbing agents ineffective. Some say the best way to counteract these issues is to have their brain focused on something else, to let the numbing agents work, ie; music or movies. They say it actually works. I think humans have the potential to disassociate themselves of certain mind altering chemicals, or influences...if they are aware. Isn't that what they use bio-feedback for on PTSD victims?

+...Pray for Your Enemies and Moral Courage for Righteous Leaders, so that Justice Will Be Delivered to the Innocent...+