Treason doth never prosper: what’s the reason?
Why, if it prosper, none dare call it treason.
John Harington – Epigrams
In the latest round of the sorry saga that is modern Greece we have a further example of how the corrupting and totalitarian influence of the European Union has now spread in that it would appear that attempting to replace the Euro with a restored national currency is now treason.
“The context of all this is that they want to present me as a rogue finance minister, and have me indicted for treason. It is all part of an attempt to annul the first five months of this government and put it in the dustbin of history,” he said.
“It totally distorts my purpose for wanting parallel liquidity. I have always been completely against dismantling the euro because we never know what dark forces that might unleash in Europe,” he said.
The goal of the computer hacking was to enable the finance ministry to make digital transfers at “the touch of a button”. The payments would be ‘IOUs’ based on an experiment by California after the Lehman banking crisis.
A parallel banking system of this kind would allow the government to create euro liquidity and circumvent what Syriza called “financial strangulation” by the ECB.
I am no fan of Yanis Varoufakis who is just another dreadful little Marxist troll, but any decent economist will acknowledge that given the prospect of the ECB funding being stopped for any period of time then parallel currency measures such as IOU’s are a rational response to the problem.
Only in the cloud-cuckoo land of Eurozone politics could this be a justification for treason, at most Varoufakis exceeded his authority, but then surely Greek PM Alexis Tsipras did as well, in which case he should be impeached?
The “why” they attempted to do it is a different matter.