THE DREADFUL ECONOMIC AND MONETARY UNION AND HELLAS’ CAPTIVITY

The Dreadful Economic and Monetary Union and Hellas᾽ Captivity

by Dr. Ioannis N. Kallianiotis
Economics/Finance Department
The Arthur J. Kania School of Management University of Scranton
Scranton, PA 18510-4602U.S.A.

«Πᾶς ὁ λέγων παρὰ τὰ διατεταγμένα, κἂν σημεῖα ποιῇ, κἂν προφητεύσῃ,
λύκος σοι φαινέσθω ἐν προβάτου δορᾷ, προβάτων φθορὰν κατεργαζόμενος».
(Ἅγ. Ἰγνάτιος ὁ Θεοφόρος)

December 2010

ABSTRACT

This work explores the political economy of Greece (Hellas) since the Treaty of Rome (1957) up to her European integration (1981), the common currency (2002), and today with the global financial crisis, the European debt crisis, the enormous austerity imposed by the EU and IMF; and discusses some of the advantages and problems that the current European (and the prospective Euro-Asian) Union has created to all European citizens. The most severe difficulties are the social chaos, which is increasing every day, due to the overvalued euro, the enormous debt and deficit, the current financial crisis, and the worst recession since the great depression of 1929-1930. Also, the economic and political corruption, which are underrated by the officials, the European Constitution, and the tremendous uncertainty that this artificial and controlled „creature” has generated to its member-nations and their citizens, are all unacceptable. Europe has a unique seven thousand years old history, which comes from ancient Greek (Hellenic) civilization and is complemented by Christianity. Greece, in her journey, experienced many difficulties, conflicts, and invasions by barbarians and other neighboring countries. But at the same time, many good and glorious periods with tremendous contribution to the global scene are recorded. Even though that the new Greek nation started the war of independence from Turks in 1821, major parts of the country are still under occupation, but the country had never been surrendered without resistance, as it happened with the EMU. Lately, after the political changeover of 1974, the European integration has destroyed the independent nation-states and it is ruling undemocratically not only Greece, but an entire continent. EU has lowered the European indigenous cultures to a uniform sub-culture of waste, dependency, and apostasy. The EMU has detracted Greece‚s monetary, fiscal, and trade policy, which limit the sovereignty of the country. Greece, due to her history, idiosyncrasy, and values should have not become a member of the Euro-zone. Of course, it is never late; she has to leave the EMU right now.

I. PROLOGUE

My aim in this paper is to provide an outline of the political economy of Greece (HELLAS) during the current times and since her undemocratic accession to the Economic and Monetary Union (EMU). Also, a socio-economic analysis by considering her interdependence with EU, her loss of public policies, and her absorbed sovereignty is pointed out for instructive purpose. Europe and “European Union” are nowadays two very political words and we will try to see what they have in common. The answer is that Europe has been different things at different times, but so far was preserving the nation-states, and has caused similar problems all the times. But, EU and EMU are new political „innovations” going against the member-nations. Human beings are making history and most of the time, do so unconsciously. Hellenic history took its unique direction (with the „Providence of God”) because the country occupies an incomparable position and her people have a particular objective, which is to offer some possibilities to all humans to become persons (perfect personalities). It is very hard to describe truthfully, and impossible to analyze the contribution of Greeks and their nation to European history and at the same time to rationalize her submission without any resistance to EMU1.
In brief, proposals for some kind of supranational organization in Europe have become increasingly frequent since 1945 and have been issued from ever more influential and suspicious sources. The proposals spring from unidentified and strange motives that they do not want to make them public because they are afraid of citizens‚ reactions. What they maintain as motives for the public are political and economic ones. On the one hand, the political motive, manifested somewhat tenuously in the Council of Europe, is rooted in the belief that only through supranational organization can the threat of war between European powers be permanently eradicated. Some proponents of European political unity further believe that the compact nation-state of the past is now outmoded; if the nations of Europe are to resume their role in world affairs, they must be able to speak with one voice and have at their command resources and manpower comparable with those of superpowers2. On the other hand, the economic motive rests upon the argument that larger markets will promote greater specialization and increased competition, thus higher productivity and standards of living. But, countries have different value systems, work ethics, and objective in life, and they cannot be equalized. Unfortunately, nothing of these has happened. So far the cost of integration has exceeded the benefits for the Europeans3. Citizens have lost their jobs, due to competition from the other country-members. Prices have increased because of the common market, goods are moving to markets with higher prices and to attract them you have to pay the same high prices.  An overvalued common currency4 has destroyed exports, foreign investments, tourism, and many other activities. Salaries are completely different among the members and poor nations cannot afford to acquire these highly priced goods and services. Finally, illegal immigrants, drug dealers, terrorists5, anarchists6, international mafia, every corrupted person, and every kind of criminality move freely from one nation to the other because borders have been abolished.  Greece is facing all these evils of the Union and in a higher degree relative to the other members because of her extended borders and her thousands of islands7.

II. THE IMPOSITION OF THE ECONOMIC AND MONETARY UNION

The Maastricht Treaty was signed in February 1992, but it, then, had to be ratified by all the member-states. This process went „well” because the state governments did not hold a referendum for ratification of the treaty by their citizens8. Denmark voted “no” on June 2, 1992 in a referendum and then the following day France announced that it would hold a referendum. Eleven years later, on September 14, 2003, Sweden had a referendum and 56.2% said „no” to the EMU9. Unfortunately, in September 1992, there was a crisis, which resulted in the pound sterling and Italian lira leaving the system and at the same time peseta was devaluing by 5 percent. Also, in August 1993, there was a further crisis, in which even currencies with sound fundamentals were attacked. The EC, under this pressure, broaden the fluctuation bands within the ERM to 15% from 2.25%. Thus, the original plan in this area has gone well off track, but they did not abandon it. For this monetary union to begin on January 1, 1999, prior to 1999 (on December 31, 1997), a majority of countries should have met the five criteria (gross government debt/GDP, budget deficit/GDP, 10-year government bond yield, inflation rate, and ERM member)10 established by the Maastricht Treaty. Nevertheless, in 1999, according to the treaty, EMU would commence for those countries, which had converged (however it looked, they were only very few, actually, Luxembourg and France), but eleven of them had been confirmed by the European Commission. The twelfth country (Greece) joined a little later and the thirteenth one (Slovenia) became an EMU member on January 1, 2007. Cyprus and Malta qualified in 2007 and were admitted on January 1, 2008. Slovakia qualified in 2008 and joined on January 1, 2009. At the moment there are 16 member states in captivity with over 326 million people in the euro-zone11.
The European Union has to develop a “social dimension” together with the “social free market” model, which must be regulated, because of the Maastricht treaty and its serious unemployment, inflation, and recession problems that it experiences since the integration. During the 1960-73 periods up until the first oil price shock, the average annual level of unemployment was around 2.6% with an economic growth rate of 4.8%.12 Between 1974 and 1985 the unemployment rate rose to 10.8% by 1985, while economic growth dropped back to 2%. In the period 1989-90, with an increase in economic growth to 3.2%, the unemployment rate dropped to 8.3% in 1990. In the meantime, it can hardly be said that there have been dramatic improvements in the EU unemployment situation because in 2003 it was over 9% with an economic growth of 0.5% for the Euro Area13. Today (Fall 2010), the unemployment is 10.10% and in Greece must be double digits up to 40% in some regions; and the real GDP growth was negative (-4.2%) in 2009 (deep recession) all over Europe (except in Germany and France that started a weak recovery). In 2010, it is forecasted as 1% (Greece‚s growth: -4.5%). The underground economy is thriving and the unfair distribution of wealth is broadening even in the Orthodox Greece. The integration has increased unemployment14 further as Roberts (1996, p. 205) has said. Also, the reduction of National Debt, through privatization of public enterprises, has contributed to the growth of unemployment. The uncontrolled illegal migration has caused, except a high crime and unemployment, too15 and it would be worse in the near future, due to the current financial crisis. The financial austerities imposed by the EU and the IMF have caused enormous social problems. The pay-off of the IMF loan was extended up to 2024 for Greece and the interest rate spreads went to 897 basis points16. The European stabilization mechanism has not worked so far.
Undoubtedly, their objective is towards a closer union and nothing else, which can be attained with the abolition of the national constitutions. Then, after many rejections and oppositions towards a European Constitution, the undemocratic European Union froze this unpopular „creature” for two years and by making a few minor changes, they brought it back with the name, „The Reform Treaty of the EU” (Treaty of Lisbon, actually this is the same „European Constitution”)17, which was finalized at an informal Lisbon summit on October 19, 2007 by the 27 leaders. This new treaty was signed on December 13, 2007 and then was ratified by the parliaments of the country-members. They were afraid that all Europeans were going to vote against the new treaty and for this reason they did not allow citizens to participate in „EU democratic decisions”18. European citizens are in their most dreadful moment in their entire history so far. Of course, their future will be worse with the trend that the EU is following daily. The Treaty does not determine the geographical region of the European Union. Their covered objective is „one nation, one government” and not the European Union. This Union-Trap will enslave humanity globally very soon19. Unfortunately for Europeans, Poland᾽s parliament was the first that voted for ratification of the EU‚s „New Treaty” on April 1, 200820. On June 12, 2008, Ireland held a referendum on this „Lisbon Treaty”, which was a stripped-down for the renamed constitution (53% voted against it)21. Greece did not have any referendum22. Unfortunately for Europeans, EU does not hold referenda; otherwise there will be no Union today. Democratic rules do not hold in this new „creature”, the EU. It is encouraging that Britain, Denmark, and Sweden did not join the EMU and many British believe that the U.K. will never join the euro-zone. The U.K. Independence Party wants Britain to withdraw from the EU, too. Joining EMU, a country might produce lower inflation23, cheaper credit24, and a stable exchange rate (actually, an overvalued common currency)25, but this union can hurt their economies because they lose their public policies and their independence; they do not have their own currency that they could pursue an effective trade policy, too. By staying out of the EMU, they can achieve all these objectives with sound domestic policies and can enjoy the sovereignty of their nations. Greeks have given their lives for seven thousand years for their independence and freedom and now they surrender without any reaction26. Something must be wrong with our generation; it must be completely degenerated. A big economic risk in joining EMU lies in vulnerability to Europe-wide policies that are not appropriate for an individual country‚s economic conditions. Each country has its own needs, its own social structure, and its own business cycle. A common interest rate (cannot exist because of different country risks) and a common currency have destabilizing effect. EU was pressing Greece to impose property tax of 9% on the first home of her citizens. Greece had no property taxes, but now, due to the enormous deficit, it imposed a tax on Greeks‚ properties27. It seems that capitalism is gradually imitating communism; we are going to end up without property with all these duties, compulsory insurance, and taxes on ownership of homes and on other physical assets (dwellings)28.
All the recent trends in EU (increase in taxes, raise of the value-added tax, weakening the power of labor unions, reducing subsidies, developing new sources of energy, shifting some of the burden of health insurance from employers to households, increasing the number of years for work, etc.) and many others that are coming are against the poor European citizens. It seems that all parties in EU became controlled neo-liberals (market oriented and acting against the social interest of their countries) and very corrupted29. The German and other country-members‚ budget deficits are above the Euro-zone limit, but for big countries the pressure from the chairman of the Euro-zone finance ministers (Jean-Claude Juncker) is small. The opposite happens to small countries like Greece; they suffer from the ECOFIN pressure and they have to take inhumane austerity measures.
Unfortunately, on November 24, 2008, the Chinese President made an official visit in Greece. He signed an agreement to lease for 35 years the seaport of Piraeus (the harbor of Athens)30. Chinese will invade and occupy Greece! Greece is selling everything to foreigners and soon will be in major socio-economic crisis31. The EU cut by 50% the subsidies to tobacco growers (farmers) and gradually, it will eliminate all subsidies32. This will have a tremendous negative effect on the Greek economy because tobacco is the main agricultural product in many poor regions of the country. The EU policy is destroying the agricultural and manufacturing sectors33; Europe is becoming a service economy and for this reason the late financial crisis has a drastic effect on all country-members (PIIGGS)34. The unemployment is a very serious problem for Greece. A businessman from Thessaloniki said that the unemployment in the area was 20%35. The OECD is predicted a very high unemployment in Greece (it seems like 15.5% at the moment with regions of 40% unemployment rate)36. Of course, one major fiscal problem of the country is the tax evasion by the wealthy people and professionals37. Privatization38, outsourcing, the moving of firms in countries with lower cost of production, and the illegal migration are some causes of high unemployment in the country. Many people are selling their cars in a flea market in Schisto, outside of Athens at half a price, just to make a little cash because they cannot afford to maintain them, due to the gas prices and the financial crisis. Imported crime (mostly from Albania and other Muslims)39, anarchism, and terrorism is another serious issue for the Greek society.
Lastly, the conclusion is that European citizens and the leaders of the country-members of the EMU do not rule their own countries anymore. With its regulations, EMU unilaterally revoked the sovereignty of states that made the mistake to join the Euro-zone. This is the econo-monetary „culture” that independent domestic economic and monetary policy must be forcefully rejected and the country must pay high fines. Its directives have become economic „doctrines” and the leading countries have their „visions” for the future of these poor Europeans, who became members, even without their will. This „vision” is the „vision” of destroying the sovereign nations of Europe. For this reason, there is no support from European citizens towards this „vision of integration” and they see that their leaders are liars and puppets. Countries cannot follow EU‚s orders! Historic Greece is the number one victim of this nightmarish „vision”.

III. EPILOGUE

We tried to give a small summary of the recent political economy of the oldest nation-member of the EU, the „chosen by God᾽s Providence” nation, the historic and Orthodox Greece. In this European integration and in the world economy the interdependence is highly asymmetric and unfair, with substantial negative processes that work mainly to the detriment of most of the countries, especially the small and peculiar ones. The autarkic societies in the past had been led almost to success (at least in full employment, happiness, homogeneity, independence, safety, security, and preservation of the indigenous cultures), but the current economic system with the competitive advantage and the loss of manufacturing, reduction in agriculture, and enormous debts is against self-sufficiency (autarky) and insensible to small businesses. To become competitive, we have to devaluate our currency, but we do not have our own currency (drachma); thus, we have to reduce wages and salaries (backwardness, „devaluate citizens‚ dignity”). EU and IMF40 encourage interdependence (unilateral dependency), force (impose) free but unfair trade (based on competitive advantage, exploitation of labor, and dumping), sale-offs of state-own enterprises, and augment uncertainty for the future of this falling world. The first results were shown during the 2007-2008 financial crises, the deep recessions of 2009-2010, and the enormous social cost of unemployment and loss of wealth. There is no need for someone to be an economist to understand these basic economic rules or a historian to avoid the same mistakes of the past or a philosopher to conceive these social problems or a prophet to predict the future of our world, if we allow the current trend to continue. The historic, economic, and social indicators reveal that Greece from a moral, ethical, just, independent, and self-sufficient society, after her European integration is becoming less and less competitive and more and more contaminated from all these foreign influences41; and EU is becoming less friendly with its members (especially the small ones) and the rest of the world42. European Union (the forced integration of 27 nations, without referenda) will prove that it is the worst „innovation” in human history. It is a mixture of twenty seven nations without domestic public policies, without self-determination, without sovereignty, and of course, without any future43. All these strange evolutions have increase the global uncertainty, have caused unemployment and recessions in EU44 and in Greece; have reduced competitiveness, and have augment anxiety and health problems (mental and physical) to citizens. The free-market system has failed and needs more government regulation and better corporate governance. Governments had to bailout a corrupted financial system, especially when the budget deficits and the national debts are astronomical. But, they had no other option, except to „rob responsible [citizens] and pay the robbers of the financial market”45. Then, what are the social benefits of our socio-economic system? Why we need these global changes, „innovations”, and „evolutions”, which are against humanity? What are the social benefits of the European Union and the EMU?   Lastly, we (especially Greeks) must be aware that we are undergoing changes in our financial, economic, geopolitical, cultural, political, spiritual, and risk contexts and we must be sensitive and act with attention to these changes. Russia is not an enemy of the west, west is actually an enemy for Russia and the rest of the world. Atheist and Muslim Asia may be proven to be a future „enemy” for the entire west, Greece, the EU and the US. We cannot be opportunists and we cannot be danger-speakers, but realists, altruists, humanists, and truthful. „From the start, the construction of Europe was an extravagant political idea designed to imprison the nations of Europe into an ‘ever closer’ union of states.” 46 The best will be to reassess the need to move forward with the union or to hold back. Holding back might preserve whatever remains of each state‚s sovereignty and culture. We do not need any type of integrations or common currency and of course we do not want to have a supra-nationality, as a minority of people (and they are non-Europeans) believes, but it has louder voice, powerful control, and global influence than the majority. In recent years, citizens of Greece, Europe, and of the U.S. have shown their disappointment in and apprehensions for whom to vote47. They try to elect the least evil in their questionable and immoral „democracies”. The elected representatives are unable to act in favor of their countries‚ interest48. Their corruptive practices have become a national way of life. In EU there are different Europeanized domestic parties that all have the same beliefs and objectives, to ignore their countries49; and they have created a class of citizens through favoritism and job offering to them that these voters support and fight for these parties. But, the current problem is to recover from the financial crisis and its recession, and to send illegal immigrants back to their countries of origin, which seems as a very long process. Of course, Greeks have a big obligation towards their history and ancestors, who have created their civilization, the Hellenic-Orthodox one, which is unique on earth for those who have cultivated their intellect and are able to do objective comparisons. Greece has to correct her biggest mistake in history, her surrender to EMU and abandon the common currency (euro). Drachma is the only solution for historic Hellas!

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1. They placed in power, as prime minister, from nowhere, Kostas Simitis (Semite) to put Greece to the EMU without a referendum, to cause the gray zones in Aegean (Imia island), and to contribute to the redistribution (loss) of wealth in the Stock Exchange. He was „successful” in all these objectives (sic).  But, the question is here; how a non-Greek-Orthodox can become a politician in the Historic and Orthodox Hellas?
2. See, Blum, Cameron, and Barnes (1970, p. 1032).
3. See, Kallianiotis (2009a). From 0.8525 $/€  (October 2000), the euro appreciated to 1.6001 $/€  (April 2008); an appreciation by +87.70%. (Bloomberg.com). Lately, due to the enormous deficits and debts in the Euro-zone (PIIGS), the overvalued euro started to depreciate and reached
4.2218 $/€  (5/26/2010). It became 1.4062 $/€  on October 14, 2010, and fell again to 5.3104 on December 1, 2010. (Bloomberg.com). A French court sentenced nine men to prison for belonging to an Islamist group accused of plotting bombings. (The Wall Street Journal, October 24, 2008, p. A1).
6. Anarchists from different European countries are often going to Greece demonstrating with Greek anti-government groups, burning, looting, and hitting policemen. (TV News ALTER, MEGA, and ALPHA, December 5, 6, and 7, 2009).
7.Turkey has started a war against Greece by smuggling thousands of Muslims to wipe out her Hellenic-Orthodox identity. TV News ALPHA, June 22, 2009.
8 But, as we see every day in EU country-members, demonstrations and burnings of the EU(s flag are going on, showing citizens( opposition to this artificial monetary-political union. See, The Wall Street Journal, December 1, 2010, pp. A1 and A12.
9. Margaret Thatcher had said that she denyed to surrender its country to the EMU even though that she was pressed by the Bilderberg Club. (The Spot Light, July ›10, 1995). Γιὰ μένα εἶναι τιμὴ ἡ ἀπόρριψί μου ἀπὸ τὴν λέσχη Μπίλντελμπεργκ. Ὅποιος δεχθῇ νὰ παραδώσῃ στὴν Λέσχη τὴν αὐτοκυριαρχία τῆς Χώρας του εἶναι ἐκλεκτός , ἀλλιῶς ἀπορρίπτεται…Θέση τῆς Λέσχης εἶναι νὰ ὑποβαθμισθοῦν τὰ Ἔθνη καὶ νὰ ὑπάρξῃ μία Νέα Παγκόσμια Τάξη Πραγμάτων, ἀλλὰ θὰ ἀποτύχουν. Μὲ παραμέρισαν, γιατὶ ἀρνήθηκα νὰ παραδώσω τὴν κυριαρχία τῆς Βρετανίας στὴν Εὐρωπαϊκὴ Ἕνωση, ποὺ ἀποτελεῖ τὸ ἀπαραίτητο βῆμα τῆς Λέσχης γιὰ τὴν δημιουργία μιὰς Παγκόσμιας Κυβέρνησης…» (δήλωση τῆς πρώην πρωθυπουργοῦ τῆς Βρετανίας Μάργκαρετ Θάτσερ στὴν ἐφημερίδα The Spot Light, 10/7/1995). Ὅρα «Βοανεργές», ἀρ. τεύχ. 45, Σεπτέμβριος -Ὀκτώβριος 2009, σ. 93
10.Unemployment rate or the real GDP growth is not part of the criteria for the EMU. What type of social policy is this Treaty?
11.Three states, Monaco, San Marino and Vatican City, have signed formal agreements with the EU to use the euro and to mint their own coins. However, although they have formally adopted the euro and mint coins, they are not considered part of the euro-zone by the ECB and do not have a seat in the ECB or Euro Group. Several other countries have officially adopted the euro as their sole currency, such as Andorra, Kosovo, and Montenegro, without even an agreement. These states are also not considered part of the official euro-zone by the ECB, however in some usage, the term euro-zone is applied to all such states and territories that have adopted the euro as their sole currency. What a paradoxical fabrication is this union?
12. Because of the existence of a good balance among the three different sectors of the economy (agriculture, manufacture, and service) and the self-sufficiency of the countries.
13.See, International Economic Trends, August 2003, p. 3; July 2004, p. 5; and November 2004, p. 3.
14.See, Kallianiotis (2009b).
15. See, Kallianiotis (2004 and 2005).
16.The interest rate spreads are high in PIIGS members: Island 652, Portugal 428, Spain 266, and Italy 215.  Greece will be a hostage of EU and IMF until 2024. (TV News ALTER, 29/11/2010). Students and workers are in the streets in England, in Italy, in Greece, in Ireland, Spain, and Portugal. (The Wall Street Journal, December 1, 2010, pp. A1, A13, A13, and C1).
17.This is a lengthy document of 271 pages. The future of Europeans will be very dark and uncertain because this treaty overrides the national constitutions.
18.See, Europa, Official Journal of the European Union, C 306, Volume 50, 17 December 2007.18.TV News ANTENNA and ERT, October 19, 2007. Also,  Reform treaty finalized in Lisbon, Europa.eu, European Commission, 10/19/2007.
19. Τὸ κοινοτικὸ Δίκαιο ἔχει προβάδισμα ἀκόμη καὶ ἐν σχέσει μὲ τὸ Σύνταγμα τῶν χωρῶν- μελῶν. Ἡ Ἑλλὰς καὶ ἡ Κύπρος χάνουν τὰς θέσεις τῶν μονόμων Ἐπιτρόπων, τὰς ὁποίας ἔχουν εἰς τὴν Κομισιόν. Τέλος, ἡ ρήτρα«ἀμοιβαίας συνδρομῆς» δὲν καλύπτει τὴν Ἑλλάδα καὶ τὴν Κύπρον εἰς περίπτωσιν ἐπιθέσεως τῆς Τουρκίας ἐναντίον χώρας-μέλους τῆς ΕΕ. See, e-grammes.gr, December 13, 2007.
20. See, The Wall Street Journal, April 2, 2008, p. A1.
21.Europeans were and still are against the creation of the EU and EMU without their approval. In June 1992; Danish voters narrowly reject the Maastricht Treaty, which made the creation of the euro currency possible. A revote in May 1993 approved the treaty with a very small margin. In September 2000, Danes voted against adopting the euro currency. In June 2001, Irish voters rejected the Treaty of Nice, which adjusted EU voting rules for the EU‚s coming expansion from 15 to 25, and later 27 members. A revote in October 2002 approved the treaty in the margin. In May 2005, French voter rejected EU‚s draft constitution. Key concerns were French sovereignty, the EU‚s „ultra-liberal” free-market policies, and unhappiness with then-President Jacques Chirac. In June 2005, Dutch voters rejected the constitution. See, The Wall Street Journal, Jun 12, 2008, pp. A1 and A12.
22.Polls showed that 83.3% of Greeks are against the European Constitution. (e-grammes.gr, 5/4/2009). Since December 1, 2009, the European Constitution (Lisbon treaty) is in effect, which overrides the domestic constitutions of the country-members. (The Wall Street Journal, November 4, 2009, p. A1).
23.This is not true at all. Inflation in many Euro-zone country-members is very high, over 5%, as it happened with Greece, too.
24.The cost of capital for Greece reached 17%, while in Germany was 3%. This high spread shows that the EMU has not helped at all country-members to receive cheaper credit.
25. In 1973, countries abandoned the fixed exchange rate because it made obsolete their trade policies, but EU went to the other extreme, it introduced the common currency, which was known for its destructive effects since its inception.
26.See, Hill (1998, p. 65). The country-members‚ legislative power has moved from their parliaments to the EU. Their executive power from their ministries to the ECOFIN and EU, and their judiciary power is completely controlled, due to globalization and „terrorism” (sic). Then, Europeans and especially Greeks have to react to this „enslavement” or to cry on the ruins of their thousand years old culture, education, and history of their nations, but the current generation is responsible for the future ones and they have no right to make these types of mistakes.
27. TV News MEGA, May 8, 2005. In 2010, the tax became for individuals, as follows: The first 243.600 Euros of the ‘objective value’ of the property is not subject to tax. Any value of the property beyond 243.600 Euros is subject to tax according to a scale ranging from 0.3% to 0.8%.
28. TV News MEGA, September 14, 2005. With today trend, the owner will become soon only the maintenance of an asset (home) that belongs to the state (by paying rent as property tax) and to the bank (mortgage) for thirty years. This banks‚ ownership of housing has caused the current financial crisis. It looks like a confiscation of the real assets through high property taxes.
29.Greece has three major political parties, but with the same imposed „new age” philosophy, which makes them as one party, the „communist-socialist-centrist” party.
30.TV News ALTER, November 24, 2008. From November 3, 2009 the seaport went to Cosco (Chinese firm) and workers were in strikes for many days. TV News ALTER, November 2, 2009.
31.See, Kallianiotis (2009b).
32. TV News MEGA, November 18, 2008.
33.Countries with strong agricultural sector are not afraid of financial crises; manufacturing is coming second; and services last and over-sweating.  Countries have to be self-sufficient and in a state of autarky.
34.They are Portugal, Ireland, Italy, Greece, Great Britain, and Spain. The new austerity measures in Europe have led French, British, Greeks, Spanish, Italians, Irish, and many others to streets demonstrating against their governments. Britain detailed $127 billion in spending cuts over four years. French police cleared blockades of striking refinery workers as unions decide how long to continue protests against pension overhaul. Spain‚s prime minister reshuffled his cabinet in the face of EU demands for tougher austerity measures. The Greek prime minister said that Greece can.
35.TV News ALPHA, November 26, 2008.
36.TV News ALTER, December 9, 2009. Unemployment is very high among young professional, too. Young lawyers are paid 400 euros per month and there are more than 20,000 lawyers in the area of Attica. (TV News ALPHA, November 30, 2008).
37.TV News ALTER, August 20, 2009
38.The ministry of interior tried to privatize the garbage collection, but due to disagreement with the workers in the local government, the management of garbage will stay with the local city governments. (TV News ALTER, November 30, 2008). Now, Greece tries to privatize the Hellenic Railways Organization (ΟΣΕ). The privatization plan is part of an austerity program called for by a 110 billion euro aid deal with the European Union and the International Monetary Fund, which projects revenue of 1 billion euros a year from privatizations for the 2011-13 period.
39. Sali Berisha said that,“Albania has changed during these years faster than ever. Once a country of the most notorious organised crime in Europe, Albania is today one of the safest and most secure countries of Europe where incidences of criminality are clearly below the NATO and EU average.” (Euronews.net/2009/04/07). Berisha opened the prisons and sent all the Albanian prisoners to Greece.
40.See, Stiglitz (2002).
41. «Ὦ [ἑλληνορθόδοξε] τὴν παρακαταθήκην φύλαξον, ἐκτρεπόμενος τὰς βεβήλους κενοφωνίας…»(Α´Τιμ. ϛ´ 20-21)
42. The U.S.A. was the biggest economic power in the world and is declining daily. It has more than $156.2 trillion debt (public and private). Greece was the biggest spiritual power on earth and is descending daily. We must grieve for the plight of these two nations and someone is responsible for this. The problem must be the bad and controlled leadership in these two “model” nations.
43.For example, in EU, 73.8% are against privatization, 80.9% are against Turkey᾽s entrance to EU, 83.6% are against Euro-constitution (Treaty of Lisbon), 71.6% want to go back to their previous national currencies, 71.5% of Greeks are in favor of vetoing Skopje᾽s (Vardarska’ s) entrance to NATO and EU, Europeans are against the independence of Kosovo, and 86.1% of Greeks are against the marriage of homosexuals. (e-grammes.gr., different polls). Europeans are actually against these ”anti-European creatures”, the EU and the EMU.
44.The main reason for unemployment in Europe is the illegal and uncontrolled immigration. Europe is in trouble to lose its thousands years old identity.
45.Dr. Shannon Grimes in Tahlequah Daily Press, September 25, 2008.
46.Serfaty (1996, p. 75) tells us a big truth without wanted to say it.
47. This is common in every day discussions because the U.S. had presidential elections on November 4, 2008, EU had European elections on June 7, 2009, and Greece had national elections on October 4, 2009. There was a lot of hope by Europeans on the new U.S. president, Barack Obama, but lately, his policies proved that he cannot do anything different; everything is controlled by the dark powers. During the European parliament elections, the turnout in Greece was 52.63% and for the entire EU was only 42.94%.
48.For this reason, voter turnout on Sunday November 14, 2010 hit record lows with just 34% in Athens and 45% nationally; figures that revealed popular discontent with the government. Also, Papandreou dropped a threat to call an early general election after the first round of voting November 7,  and on Sunday promised his 13-month-old government would serve a full four-year term. HYPERLINK “http://www.stltoday.com/business/national-and-international/article_cd27f844-4919-56ce-b49c-608c9f9a938a.html” http://www.stltoday.com/business/national-and-international/article_cd27f844-4919-56ce-b49c-608c9f9a938a.html
49. In Greece, the most of the political parties (Communists, Socialist, and centrists-N.D.) have the same ideology; are just agents of the “new age” movement.

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