Home World News LaRouche Hails Stunning Greek Electoral Repudiation of Troika

LaRouche Hails Stunning Greek Electoral Repudiation of Troika



Jan. 25 (EIRNS)—The results of Sunday’s Greek elections, in which Syriza won
a near-landslide victory and will form a new government with Independent
Greeks and other parties, was a stunning and powerful repudiation of the
murderous austerity policies imposed on Greece by the Troika.
Upon being informed of the Greek vote, Lyndon LaRouche called it a
“profound victory that can secure a shift in the entire European and trans-
Atlantic situation.” LaRouche noted that the outpouring of the Greek people to
repudiate the Troika’s austerity regime was one of several recent developments
that can rapidly bring down the failed euro system altogether. He cited the
recent decision by the Swiss National Bank to decouple the Swiss franc from the
euro, which triggered significant derivatives losses by major Wall Street and
City of London banks.
LaRouche noted that the Greek vote will have a “big impact on Germany.
Merkel and company are in a tough situation, pretending to control things in
Europe, but in reality, they have no control and the Greek vote proves it. They
will be shaken hard, and will not be able to pretend that the austerity policies are
working.”  “This is great,” LaRouche concluded, adding that “the enemy of humanity is
being damaged and everyone should be happy.”
As of midnight Sunday, the final results of the Greek vote showed that
Syriza received 36.12% of the vote, giving it 149 seats out of 300. The
Independent Greeks received 4.69% of the vote, giving them 13 seats. The two
parties are expected to form a coalition government with a 162-seat majority.
On Monday, all of the European finance ministers will be meeting to decide
what to do in the face of the dramatic Greek election results, which further
discredit European Central Bank head Mario Draghi’s Thursday announcement
of a €1 trillion quantitative easing hyperinflationary bailout of the bankrupt
European banks. Greece’s action could very well be the catalyst of a stampede
for the door, with Greece, Portugal, Spain, Ireland, and even Italy leaving the
euro system to return to sovereign currency and anti-austerity policies.
The implications for Wall Street are equally dramatic. The hopelessly
bankrupt Wall Street banks are reeling from massive derivatives losses, triggered
by the Swiss National Bank’s sudden ending of the peg to the euro. Those same
banks, along with their City of London counterparts, are holding more than $600
billion in junk bond loans to the shale oil and gas sector, and those debts are
about to blow out. This could very well be the trigger for the disintegration of
the entire trans-Atlantic financial system at any moment.
LaRouche has emphasized for the past months that the blowout of Wall
Street and London is the single most important factor driving the world to a
potential thermonuclear war showdown. Increasingly, more and more sane
voices are joining LaRouche in warning of the growing danger of thermonuclear
Armageddon. Over the Jan. 24-25 weekend, leading nuclear disarmament expert
Theodore Postol warned about the imminent danger of thermonuclear extinction,
and former Senators Sam Nunn and Richard Lugar added their voices to those
calling for emergency action to de-escalate the global showdown.
Urgent measures must to be taken to put the Wall Street and London banks
through orderly bankruptcy reorganization, starting with the cancellation of all
the gambling debts. Hamiltonian measures that must be immediately
implemented to put people back to work in meaningful jobs.
With Wall Street hopelessly bankrupt, we have to provide a source of credit
which will be Federal credit, a lawful creation of Federal credit, a fund which
can be used by the states and by the national government in order to fund the
creation of new employment. This will require incurring a new debt, a large
debt, on behalf of the United States, to put people to work, and to do similar
kinds of things now, immediately, implemented as part of a Federal credit
system. The “bail out” system that was implemented after Bill Clinton left office
must be ended immediately, and people must be put to work through a Federal
credit system.

posted by: Rhea Razon


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