As the Greek Crisis worsens and political instability
threatens to destabilize Greek society, the average Greek must come to the
realization that, “if I do not do something, no one will”! Greeks cannot look
to the corrupt, political parties that caused the crisis for salvation. It is
up to the Greek people to force change and establish a road map to a true
patriotic recovery if Greek society is to survive and thrive. To accomplish
this Greeks need to shed themselves of old political allegiances and come
together as one.
Below are 10 initial actions that must occur in order to
save Greece. Although these actions alone cannot entirely fix the nation’s
problems, they would put Greece in a much better position in the long term.
1. Arrest and imprison, all Government officials, (past and
present) suspected of corruption. Those found guilty would have their wealth
and properties confiscated by the State. If a Government, with the guts to
arrest and imprison these politicians could be formed. It would show the world
the Greek people’s commitment to fighting corruption and truly reforming Greece.
It would also return much of the State’s wealth, which has been plundered by
corrupt officials, as well give the State control of assets that could be used
to jump start the economy.
2. The Establishment of an International Committee to find
the Greek debt to be entirely or partially odious. Such a step could help
substantially lower or perhaps entirely rid Greece of its Debt. Thus, easing
the burden of the Greek people and allowing for true economic recovery to be
the primary focus of the Government.
3. The Cancelation of the International Loan Agreements
based on the fact that they were conceived and agreed upon in an
unconstitutional manner, thus, violating Greek Law. This would be sure to upset Troika, however,
with those responsible in custody and guilty of treason, there is little Troika
could do.
4. Leave the Eurozone and return to the Drachma using the
Gold Standard. This would help prevent hyperinflation [1]. The
stability that the gold standard offers would also help stimulate economic
prosperity [2] [3] and prevent financial repression [4]. Greece currently has 111.6 tonnes of Gold [11]
in its vaults, as well as two Gold mines in the Halkidiki region [5].
These mines at Olympias and Skouries could produce 350,000 ounces of gold
annually; as well create 1,800 new jobs. If nationalized, 50% of the gold
produced could be used to strengthen the nation’s gold reserves, while the
other 50% could be made available for export.
5. The Nationalization and Privatization of all Church owned
property (other than Churches and Monasteries). The Greek Orthodox Church is
reported to be worth a billion Euros [6] it is a shareholder in the
National Bank of Greece [6] [7] [8], and the second largest land
owner in the country [6] [7] [9]. The Church to date has been
unaffected by austerity [6], and its employees are still on the
State’s payroll [7] without any pension or salary reductions. If a
Government, with the guts, to take such action could be formed it would be
revolutionary. Church owned Government Ministry buildings, hospitals, farmland,
and shares in the National Bank [7] [8] could be nationalized, while
prime Church owned real estate in millionaire neighborhoods [7] [8]
could be used for privatization or other ways to jump start the economy.
6. The continued privatization of ONLY unused Government
property, specifically, Olympic Stadiums from the Athens 2004 Summer Olympics.
This would allow Greece to continue on the road of privatization securing
foreign investments, but preventing vital property from being bought by foreign
companies.
7. The immediate firing and rehiring of all Government
employees based on skills and qualifications rather than Clientelism. As well
as an official invitation and program of recruiting talented Greek minds from
the Diaspora to return to Greece and assist in Greece’s reconstruction. The
Government could use confiscated assets from corrupt Politicians and the Church
to create incentives for prospective patriots. If a Government, with the guts
to implement such a radical action could be formed. It would further prove
Greek commitment to fighting corruption and strengthen Greek competitiveness.
8. The immediate drilling for Oil and Natural Gas in Greek
waters. If Greece could nationalize a controlling interest in all petroleum
companies operating within its borders (say 60%) it could solve much of the
country’s financial problems, as well as benefit Greek citizens if a portion of
oil sales were directly credited to their bank accounts. So far the worth of
these oil and natural gas deposits range from a conservative estimate of $430
billion to $9 trillion [10]. This alone could solve the Greek
Crisis; imagine what it would mean for Greece if a portion of or all of the
National Debt were found to be odious?
9. The launch of a massive, integrated project to develop a
network of modern rail lines for efficient transportation of cargo, thus
equipping Greece to become a key port if integrated into a greater Eurasia
network such as the New Silk Road [12]. This would help develop the
Greek economy on all levels, especially in areas with ports such as Piraeus,
Thessaloniki, Kavala, Alexandropolis, Igoumenitsa, Patras, and Volos.
10. Nationalize all Banks and introduce new legislation to
provide no interest loans to all citizens
Some of these actions may seem extreme, perhaps even
impossible, however, if implemented they would without a doubt help put Greece
in a much better position than it is today. No, Greek political party would
ever adopt or even consider most of these recommendations. Therefore, the
discussion and decision falls to the Greek people, which is better, the options
being presented by the Political Parties of Greece or what is listed above.
Sources:
[1] Advantages of the Gold Standard. The Gold Standard:
Perspectives in the Austrian School. The Ludwig Von Mises Institute
[2] Gold: The Once and Future Money by Nathan Lewis
[3] The end of the Keynesian Era.
Aljazeera
[4] Financial Repression Redux.
International Monetary Fund
[6] Salles, Alain. Orthodox Church appears to be exempt fromausterity. The Guardian
[7] Taylor, Paul & Maltezou, Renee. FEATURE- Debt Crisis taxes cosy GreekChurch-state ties. Reuters
[8]Greek church racks up EUR 7m profit in 2008: report. 29 August 2009. EUbusiness.com
[9]Kathemerini. January 2008
[7] Taylor, Paul & Maltezou, Renee. FEATURE- Debt Crisis taxes cosy GreekChurch-state ties. Reuters
[8]Greek church racks up EUR 7m profit in 2008: report. 29 August 2009. EUbusiness.com
[9]Kathemerini. January 2008
[10] Engdahl, William. The New Mediterranean Oil & GasBonanza: Part 2
