PETITION FOR GREEK DEBT LIMITATION - THE ONLY WAY TO SALVATION By Maria Negreponti-Delivanis* 26.3.2021 - ΜΑΡΙΑ ΝΕΓΡΕΠΟΝΤΗ

PETITION FOR GREEK DEBT LIMITATION - THE ONLY WAY TO SALVATION

By Maria Negreponti-Delivanis* 26.3.2021

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The great impasses of Greece, from the outcome of which the survival or disappearance of the Nation will be judged, are the national ones, the economy and the immigration. Although it is not yet known which of these three thorny problems will lead us to disaster, if we continue to look at them in the same static and servile way, in this article I will focus on the economy that is one step off the cliff, and it is urgent. the need to take measures that go beyond the trampling of groundless micro-political optimism and, above all, given the allied dependencies. The nightmarish study finding of the International Finance Institute (IIF) in Washington, raises our country's debt for 2020 to 248.53% of our GDP. That is, our debt, which was considered unsustainable at the beginning of the crisis, even though it was only 120% of GDP, and our partners then rushed to join us in the IMF, is now more than double, compared to 2010. How, will it do our partners evaluate it? Obviously as a clear bankruptcy hue, which absolutely justifies a fourth memorandum, say until the year 3000? And to be reminded, that this inconspicuous debt of 2020 does not yet include the relevant results of 2021, in which the adverse effects of the pandemic are intensified, which will obviously send it to even more uncontrollable heights. Thus, our country is established as the first European debt colony for an indefinite period of time.

What else is needed to realize, at last, that the Government's announcements, for aid to the weak groups, for measures to support small and medium-sized enterprises, for optimistic expectations from the 32 billion euros of the Recovery Fund, have all but collapsed under the unbearable weight of uncontrolled debt?

Greece, unfortunately, is virtually non-existent in the face of key news concerning it. And not only does she not react, she not only categorically refuses to discuss the painful situation in which she was led by the criminal memoranda, in conjunction with her slavish dependence on partners-allies-friends, but she also tries to keep quiet, as much as possible, news that exposes her inaction, even if their exploitation could improve her position. This is exactly how the Greek media buried the important, and to our benefit, Barack Obama statement, which was recently released, regarding the sacrifice / destruction of Greece in order to save the European banks. This is exactly how our country passively accepts the role of the scapegoat, without daring to look at alliances in other longitudes and latitudes, lest it be considered that "it does not belong to the West". Thus, Greece signed the Prespa agreement, in order not to upset the allies. Thus, our country is satisfied with the crumbs of the Recovery Fund, which in addition will be returned for the most part in the form of imports of electric cars and other new technology products from the European North. Thus, in the past, Greece did not have the courage to prevent the destruction of its primary sector by the CAP, and its growing industry by uncontrolled globalization. So, unfortunately, our country signed and for ten consecutive years agreed that the memoranda of criminal content were "our salvation". And, finally, this is exactly how Greece succumbed for 10 years to the humiliating conditions imposed on it by its partners, which excluded its defense shield.

Without Chapter 22 of Obama's memoirs, and without the pandemic that sent global debt to 365% of world GDP, there would be no hope of salvation for Greece. Already, now, these new developments could prevent a glorious end of Greece, provided that it wants to be saved. To mobilize. To dare to shout, at the behest of the world, that she is entitled immediately now to write off her debt, but also to repay the occupation loan and the compensations. And to ask for the support of the world public opinion.

Certainly, if the Greek government now decides to demand a debt write-off and repayment of an occupation loan, it will have as its strong supporters the world-historical upheavals that occur worldwide in the treatment of debts. Because the debt on a global basis is rightly considered impossible to repay, but also because the world is threatened with megaton crashes, a tacit consent of its statute of limitations has developed. Thus, the unthinkable happened, that is, the head of the IMF stated that "debt and deficits are not a problem". Then 100 well-known economists signed a statement in favor of debt relief. Recently, the Greek Nobel laureate Christoforos Pissaridis spoke in favor of the statute of limitations. Numerous articles that have recently been published in international financial journals raise the problem of huge debt, from the pandemic, and advise its prescription. The statute of limitations also supports the fact that there is currently no, at least, an inflationary threat, as, in defiance of the trillions already spent on tackling the virus, inflation remains below 2%. It should be noted, of course, that Ms. Christina Lagarde recently stated that she is against the debt limitation because it runs counter to the fundamental principles of the EU. our national survival. This is because in the Greek case of debt write-off, God's machine is the official confession of Barack Obama that Greece was turned into Iphigenia to save the European banks (regardless of the tacit knowledge of the fact and before). And if this accusation is accompanied by the overwhelming elements of the destruction of the Greek economy, it will be difficult for the EU to deal with this extent of justified international disapproval, so much so that the relevant responsibilities do not fall on the same percentage of all its member states.

PhD in Economics, former Rector Thssaloniki, 26.03.2021

at the University of Macedonia (Thessaloniki)