Majority vote approves Greek Parliament committee to probe memoranda

[reorg]

Last edited Tue Apr 7, 2015, 08:00 AM - Edit history (1)

Source: Protothema, English edition

While the country slept, MPs debated in Parliament – Vote came just before … 3 a.m.

A majority of Parliament deputies, 156 out of 300 MPs, voted to establish a Parliamentary committee of inquiry to investigate exactly how and under what circumstances Greece entered the bailout memorandums since 2010.

The vote came just before 3 a.m. on Tuesday morning following a marathon session.

Two-hundred and fifty deputies voted, 156 in favor and 72 against, with 22 voting present.

Read more: http://en.protothema.gr/majority-vote-approves-greek-parliament-comt-to-probe-memoranda/

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The Committee will audit the Greek debt in the coming months, aimed at finding out whether part of the Greek public debt is illegitimate, illegal, odious or unsustainable.

Without claiming to be exhaustive, one can propose the following definitions:

• Illegitimate public debt : debt that was contracted by a government without considering the public interest, a debt contracted in favour of a privileged minority.
• Illegal debt : debt contracted in violation of the current legal or constitutional system.
• Odious public debt : granted on conditions that violate fondamental human rights (the social, economic, cultural, civic, and political rights of the people).
• Unsustainable public debt : debt that can only be paid back with dire consequences for the people such as a dramatic degradation of their living conditions, of access to health care or education, an increase in unemployment.

...

Did the public lenders in 2010 (the 14 EU countries that granted Greece €53 billion of loans, the IMF, the ECB, the European Commission etc.) respect the full consent of the borrower, Greece, or was Greece acting under coercion?

Did these creditors impose one-sided conditions such as excessive interest rates on the loans? |2|
Did the 14 EU member States that each granted Greece a bilateral loan respect their own laws and constitutions, as well as those of Greece?

Another purpose is to audit the actions of the IMF. We know that at the IMF Executive Board meeting of 9 May 2010 several members of the IMF Executive Board (the Brazilian, the Swiss, the Argentine, the Indian, the Chinese members) had expressed considerable reservations regarding the loan granted by the IMF, pointing out, among other things, that Greece would not be able to repay it due to the policies that were being imposed on the country |3| . See the revelations made by The Wall Street Journal:

http://blogs.wsj.com/economics/2013/10/07/imf-document-excerpts-disagreements-revealed/

See also:

http://greece.greekreporter.com/2013/10/08/secret-imf-report-shows-greek-bailout-worries/

Recently, Paulo Nogueira Batista, one of the IMF’s executive directors, claims that all IMF board members knew that the loan was actually intended to save the French and German banks not Greece. ...

http://www.globalresearch.ca/4-april-2015-a-landmark-in-the-search-for-the-truth-about-the-greek-debt/5441094

[Adrahil]

1. Isn't all debt....

Contracted in favor of a privileged minority?


Woo Hoo! I can cancel my mortgage!

[NobodyHere]

2. I think they meant a privileged minority of Greeks.

Like if the US took a loan and all the money went to already wealthy bankers.

[geek tragedy]

3. Window dressing for the inevitable default. nt