This is the shocking story of Operation Gladio...

Given the depth of the EU-induced depression in Greece, and the huge strain this has put on Greek society, it is remarkable how calm and peaceful Greece is. It remains one of the safest countries in the world, and visitors can expect a warm welcome.Forget the pictures you have seen of supermarkets with empty shelves. That is simply not correct. The supermarkets are as well stocked as ever, and the restaurants just as capable of serving good food.  True, it is inconvenient not to be able to use credit cards in some places, but foreigners can take, I think, up to 600 euro a day from cash machines and if you bring enough cash, you can get really good bargains, as trades people here will give significant discounts for cash ... EU-induced depression? Give me break, Tom! How can you possibly believe such nonsense? The Troika is a huge mitigating factor, they didn't 'induce' any depression at all. If it weren't for the billions upon billions in aid, the depression in Greece would be far worse. For example, in 2010, without aid, the Greeks would have had to cut their budget deficit of 10% of GDP in one stroke. You could argue that the Troika should have given even more money, and you could argue that the Troika's bailout conditions were too harsh, but you can't argue that the Troika induced the depression in Greece. That's just BS ... The Troika was imposed as part of an EU coup to ensure compliance with a bailout of the euro and French and German banks disguised as a bailout of Greece, and to impose the most bone-headedly stupid and punitive austerity measures imaginable.  By forcing yet more debt on a country drowning in debt, and imposing the measures it did, the Troika ensured that the Greek economy shrank by more than the US did in the Great Depression - thus making its debt problem even worse.  Even the IMF has been forced to admit the truth and is currently blaming the EU for the mess, but at the time it culpably ignored protests from non-European members that the Troika's measures were destroying Greece.  So yes - EU-induced depression is a very accurate term.

Watching the battle play out between Greece and Europe's financial leadership, observers in the United States might wonder how it is Greece got itself into this mess. Could such a thing ever happen here?...  No, it could not. The reason lies in the different structure of the United States and the European Union, and has led to much confusion in the United States, as politicians have warned that if this or that policy isn't enacted, America could become “Greece on steroids.”  The key difference is that the United States has its own central bank -- the most powerful one in the world. Greece, meanwhile, does not. And while the states of the United States are genuinely united -- a common banking system, common federal budget and common political system -- the eurozone is a federation of countries with a common currency that, in the face of crisis, must largely fend for themselves.

When countries’ economies slow down, they have two sets of tools at their disposal: monetary policy (adjustment of the money supply) and fiscal policy (adjustment of government expenditures). Central banks fill the demand gap of a recession by printing currency, and governments do it by spending more than they save...  A broad array of economists believe this fiscal austerity has devastated Greece’s economy. In the years since Greece implemented its creditors’ austerity policies, its economy has shrunk by almost one-third, and adult unemployment remains above 25 percent.

Greece’s budget tightening would not be as much of a drag on its economy if it had monetary stimulus at its disposal. By devaluing currency, a country can boost its exports and domestic consumer demand. Iceland, for example, was able to recover economically despite a massive fiscal contraction because it had its own currency and could print as much of it as it wanted.

But Greece is on the euro, and the European Central Bank, which controls the euro, has not afforded Greece anywhere near enough stimulus. During much of the recent economic recovery period, the ECB’s cautious monetary policies reflected the inflation concerns of Germany.

Unlike its counterparts in the United States and Great Britain, the ECB raised interest rates twice in 2011, which is believed to have contributed to the continent’s double-dip recession -- and hit struggling economies like Greece’s especially hard.

After the war Germany had its debts written off . So why cant they do this for Greece ? Its Ironic for Merkel to say no to Greece , When her own country was helped . And who put Merkel in Charge ? Because if the truth was only known this EU is just a name the German's are hiding behind to carry on with their world Order , Which everyone thought had stopped after the War . But no , It is still in the pipeline for Germany to be the most powerful country in the Whole world . Uniting Countries and stealing their identities , To make a mega state and Army to stand up to Russia and China . While fleecing every country under her Hitler rule . This needs to stop now . We traded before , And we can carry on Trading under our own Rules . Give these countries there identities back and condemn all the leaders for Treason ... I just hope that members of the Greek Government get to read these comments Wake up for Gods sake, Greece, this is your golden opportunity to go down in history as the country that stood up to the new " banking Nazis " Get back to the drachma - the entire world will be behind you - movements will start almost spontaneously to assist you Vote this dreadful fascist proposal DOWN DOWN DOWN If not Greece will be subject to decades of misery - Do you not realise that the euro is doomed and is being held together by the vested interests mainly germanic interests ??? Why would Eoirpens suffer in order to be part of a currency which will eventually fail

Dear Greeks, take the pain we need some new plates and glasses. WTF. The EU beaurocrats added c£100bn of costs to Euro Countries, have no mandate for their policies, are not accountable and are hugely hypocritical. Let us reduce size of hair dryer and vacuum cleaner motors to reduce emissions whilst continuing to ferry people and documents between Brussels and Strasbourg at a cost in excess of £100m per year, which is of course emissions free.  The amount of money that has been P'd away since the European project started is mind boggling. The accounts have never been signed off since this bunch of loons started, due to fraud and a total lack of control. Imagine being a company in any country in the EC on this basis. No chance; closure and prosecution of the Directors.  This is a monster gravy train for those involved, (Kinnocks spring to mind and several ministers from France and Holland who sit on the CAP committee, but just happen to have huge farming interests, which seemingly they don't have to declare. Doesn't fit with the Companies Acts in the UK).  As a Brit living in France I see several perspectives, but genuinely believe that the future of the UK would be best served by leaving this self-serving gentleman's club. It is an altruistic view of life with no regard to real people and exists to provide a good living to those involved, much of it tax free. Evidenced by the demand for a budget increase for the European Parliament whilst all EU members were cutting costs. How far out of touch can they be. The people need to wake up and recognise that each tier of management/ local and central government carries a cost, London Mayors, etc. and so long as it is accountable then no problem. These people are not accountable to anyone and milk the system to the extreme.

By the time the EU dictators, thieves and liars realise that their European nation destroying project has failed Europe will be in flames and those same EU politicians that created the chaos will be on the run to Argentina…history has a nasty habit of repeating itself.The EU has endangered the real torch bearer of peace in Europe. Most European countries have not meet their obligations to the nato alliance. Instead they send massive amounts of resources to the UnDemocratic EU instead. The German Army is in shambles and the UK has been cutting their capabilities to the bone, and rely on US forces to carry out many of the operations that the UK was self sufficient at a couple of years ago.

"It's very difficult to argue today to your population that it's a well functioning system," Is that the understatement of the year or what?...I would guess that within 2 years not even the Germans will be wanting the Euro, AGAIN.   If Closer union is so good for the EU why is it a complete and dismal failure? All that is happening is that all countries are being brought down to the lowest common denominator of the failed and failing countries as cash transfers from successful taxpaying countries is used to support the lazy unemployable and the massive government structures that are so left wing they eat each other in corruption as they grab what they can for themselves.  No though for tomorrow. They live in a booze and sleep gimmie PC cloud of studied ignorance

European Union officials are bracing themselves for the possibility that Greece’s negotiations with its lenders will not be concluded in time for Athens to receive funding to pay a 3.5-billion-euro bond held by the European Central Bank on August 20, meaning a second bridge loan could be needed.

Greece received an initial loan of 7.16 billion euros last week to meet another maturing bond held by the ECB and repay some 2 billion euros to the International Monetary Fund. It had been hoped that a third bailout could be agreed in time for Greece to receive funding before the next ECB-held bond is due on August 20 but some officials believe that talks may not be completed before the beginning of December. Greece’s total funding needs for August stand at around 5 billion euros as another payment to the IMF is also due next month. A European official who wished to remain anonymous told Kathimerini that the European Financial Stability Mechanism (EFSM) may be tapped again next month – as it was last week – to provide bridge financing to the government until a third bailout has been agreed and approved by Greece’s Parliament, as well as others in the eurozone.

In Brussels, European Affairs Commissioner Pierre Moscovici said on Wednesday he is hoping the bailout deal can be signed by mid-August, while accepting that Greece has to meet a “punishing” schedule. “After months of deadlock, we are now making swift progress on the implementation of the euro summit agreement,” said the commissioner.