Draghi doing whatever it takes, Update: Handing Greece The Ace Card.

Mario Draghi can be complimented on his ability to “hand Greece’s new Government with the Ace cards” with his Trillion Euro bank bailout to be paid for. By Taxpayers and Bank customers “Depositors money”. This new €60bn per month bailout is again an attempt to pass insolvent Bank debts away from Government to its citizens in the form of inflation to inflate away Government guarranteed debts. This will fail and Greece will start a European rolling ball that will take the whole of Europe out if the Creditors threaten Greece’s new Government and its citizens with capitulation, rather than renegotiation.

Mario Draghi may well delay any effective action again by doing whatever it takes to protect his backside. While at the same time being paid for the inability to respond to worsening EU wide conditions and market forces that no longer listen to his hype or the €trillion by instalments experiment to counter deflation by inflation and devaluation of the Euro. But can Europe’s population pay for this €trillion Euro experiment. When most are cold and hungry from years of Austerity they cannot afford making the decision BETWEEN HEATING OR EATING?

 

Clearly his position is untenable, indicating his tactics are progressively creating the ideal conditions for the self destruction of the Euro and the European Union.

 

Not that this was not seen a forgone conclusion. But his managing ability to understand taxation with austerity measures were certain to enforce individuals and corporations to look carefully at capital expenditure and where they spend or keep their cash and assets.

 

This has led Corporations and individuals to play safe and hoard cash. Effectively destroying the business momentum required to create new wealth. The net result is that the retail sector is in decline or has negative returns. Forcing corporations to shed staff lowering manufacturing output and purchase of raw materials.

 

Individuals on the other-hand are now much more savy about Insurers, Banks, Financial Institutions, the European Union and Government. Also the internet and information technology has made the masses aware that trust is earned. And that none above especially the EU, fall into this category of trust.

 

The public’s untrustable perception of Mario Draghi is his delay tactics knowing that there is still huge numbers of Banks and Insurers who are a risk to the financial landscape, still obscuring their insolvency. Mario Draghi knows this yet is ignoring the intervention required to effect control of these to big to fail Insurers and Banks

 

Recent events like BES ( Banco Espirito Santo ) receiving state aid from Portugal’s taxpayers fly in the face of recent EU regulation which prohibits state aid to private institutions over €500,000- if remembered correctly.

 

Closer to his home, is Mario Draghi going to bail out Italy and its financial institutions. Or will he be removed and replaced by someone who can do the job correctly and weed out the weak Insolvent institutions hell bent on funding their illegal activities. “Using depositors and shareholders money”.

 

Or will Mario Draghi be able to placate the British public that won’t tolerate an EU. Observed as a huge conglomeration out of control, “who cannot even balance their books”. That imposes new Protocols, Directives and Laws by the minute, to extract even more money from Britain than British residents earn.

 

This is unlikely British taxpayers contribution paid for EU Motorways. Toll roads now owned by American Corporations.

 

Gangsters springs to mind.


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