The Sovereign Debt Crisis began with Greece asking for help from the IMF to the day of Pi from the peak in the ECM 2007.15. The EU then crushed Cyrus [sic] to see how they could get away with not paying people or honoring their debts. The Cyprus experiment was the start of the Bail-In that is now a matter of law in just about every country.
It is amazing just our stupid society really is. We pay no attention to what government does and allow them to take little by little everything we have and from future generations. The EU covertly Staged Coup Against Berlusconi in Italy to remove him from politics because he wanted to exit the Euro. The EU rigged the Scottish to prevent any exit from the EU. They will do the same with Britain if Cameron dares to really honor his pledge. Then the EU organized a rigged court to rule that the Spanish have no Right to Vote for independence. Now the EU simply says they will not negotiate with any democratically elected government in Greece that expects to do anything other than what they dictate.
The Euro is a failed experiment and the purpose was to prevent European wars, when in fact, it is not fanning the fires of separatists. The EU Commission is trying to takeover Greece outright denying the people any right whatsoever to be heard. This is no different from Iraq invasion of Kuwait except the force of arms.
The EU will isolate the Greek system and the favorite threat of the IMF to force capitulation of all tax shelter nations is that they will be cut out of the SWIFT system. That will prevent them from moving money in or out. But the Greeks have the largest merchant shipping fleet in the world. If they try to do that, they may see their own ability to trade seriously reduced.
We are plagued by politicians who have all gone mad. With these kind of actions coming from Brussels, one must wonder just how long is this going to take before we see a major revolution hit Europe. When this contagion hits Italy and France, it looks like checkmate for Brussels.
Full article: Cyprus – Greece – Whose Next? (Armstrong Economics)