by
Ramin Mazaheri
Part
2 - The Eurogroup: The banker cabal hidden in plain sight
I reviewed
the fake-leftist book “And the Weak Suffer What They Must?” by
former Greek Finance Minister Yanis Varoufakis. The analysis and
proffered solutions from this self-declared “erratic Marxist” are
not Marxist at all, but his eyewitness unveiling of the cartelized
capitalist structure that is the Eurogroup has truly been an enormous
contribution to European democracy.
The
Eurogroup is, at face value, an informal monthly meeting of the
finance ministers of the member countries. Ah, government
representatives getting together for discussions and planning –
sounds democratic, right? Hardly….
I will quote
Varoufakis often, because his matter-of-fact condemnations will carry
more weight than my own:
“Moreover,
the Eurogroup, where all the important economic decisions are taken,
is a body that does not even exist in European law, that operates on
the basis that the ‘strong do as they please while the weak suffer
what they must’, that keeps no minutes of its proceedings, and
whose only rule is that its deliberations are confidential – that
is, not to be shared with Europe’s citizenry. It is a set-up
designed to preclude any sovereignty traceable back to the people of
Europe.”
So there are
no rules, no records, no democratic process and no democratic
accountability…and this is what is in charge of the world’s
largest economic engine.
These are
appalling realities. They cannot be diffused widely enough or often
enough.
Thanks to
the whistle-blowing of Varoufakis, we also know that there is also
essentially no discussion at Eurogroup meetings: The Troika (the IMF,
European Central Bank and European Commission) initiates, dominates
and outlines the terms…and then the finance minister-members vote.
In short, the overwhelming majority of participants in the group
which governs economic policy (and thus social policy) are bankers,
former bankers or intimately tied to high finance. When bankers run
economic policy, one shouldn’t be surprised if the resulting social
policy is for the benefit of bankers.
As
Varoufakis relates, maybe the finance ministers will speak, or maybe
they won’t even be allowed to speak. Maybe finance ministers will
be allowed to disseminate documents which support the positions taken
by their democratically-elected governments, or maybe they won’t
even be allowed to champion a differing position. Many will
justifiably ask: What’s the point of voting in any politician if
they have little to no chance of influencing policy at the highest
level – the Eurogroup?
The
Eurogroup is not an EU institution and cannot declare any
legally-binding decisions. It can never be blamed for a bad decision,
nor held accountable, because it is not answerable to any parliament
or body politic whatsoever.
In short: it
is the perfect cabal.
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