7/19/2011

US - Greece: "Audit? What Audit?"

"For what citizen can there be found so ill-affected as to wish by one vote to draw two daggers against the Republic?"

"De petitione consulatus" (On running for the Consulship)
Quintus Tullius Cicero (66 - 54 BC)


In the end of May 2011 the Greek Parliament (the socialistic PASOK, the liberal ND and the far right LAOS parties) voted against the logistical audit of the national debt claiming that such an action "would foster the illusion that the international obligations of the country (against her creditors) could be averted". The two leading parties (PASOK and New Democracy) have ruled the country for more than a generation, namely for 37 years. So, if there is someone that holds the whole political responsibility for the present economic tragedy are those two parties that voted against the audit. In fact many of the present members participating in the process where active when the secret loans from Goldman Sachs (2001) were used to mask the deficit getting the country inside the OECD, when the logistic books were repeatedly cooked and when the "Stock market", the "Siemens", the "Vatopaidi" the "German submarines" or the "French Mirages" scandals broke up. So why taking pains to accuse themselves? 
The reasoning of this voting is admittedly a distortion. For if Greece was a little enterprise that her managers led to economic collapse by lending money secretly to mask the situation from the stakeholders (people) what would prevent the last from suing them? But this was in line with the ECB's reasoning for the denial of the disclosure of relevant papers concerning the G.S. secret loans that resulted to the Bloomberg's sue. The ECB claimed that "Releasing the papers could damage the commercial interests of the ECB’s counterparties, hurt the region’s banks and markets, and undermine the economic policy of Greece and the EU". 
Therefre if Bloomberg sued the ECB how come and the Greek people don't have any similar tool in their hands? 
The majority of us are like the small stakeholders of a ruined company that must pay back the huge loans that the executives took in secrecy (favoring foreign companies and the few big stakeholders that at best are going to share the whole deficit equally with the rest) without having any resort to unvaile the truth or to bring the responsible to justice. 
It is quite true that a reform is absolutely necessary. But are those responsible for the present situation willing and capable of shaping the social consensus for implementing (justly) those critical changes?

Similar cases...


No comments:

Post a Comment