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Dear Readers of the European Sting, there's one thing that drew my attention last week
The European Central Bank announced that their "Feed the Poor" programme
namely Securities Markets Programme
left them fat profits of
2.11 billion euros
We are talking here about the programme with which the European Central Bank
from 2010 to 2012 bought bonds of the crisis ravaged
European countries: Portugal
Ireland, Greece and Spain.
This program was advertised as a selfless action where the European
Central Bank will buy PIGS' bonds in the secondary market to allow the poor
neighbours of the union to borrow cheaper
This is not the European Central Bank!
This is the European sister of the late mother Teresa that lives in Frankfurt
These people are really into taking initiatives to help and protect the weak members of the Union.
Or not? Open your eyes guys!
Those bankers advertised SMP as god's work put in the end of the day those
people just needed to do a renovation in their buildings! And of course uncle Scrooge
never wants to pay. Who is going to pay then?
You, are going to pay, grandma from Athens,
that after the latest thoughtful cut downs of your government, you have
nothing to be jealous of the pension that the granny in Mogadishu receives!!
This is Preposterous! During the last two years the European Central Bank made 1.2
billion euros from Greek sovereign bonds bought during seasonal
sales with ridiculous discount.
This is the Greek taxpayers' money, which together with the rest of the money
gathered during this two-year whip-round from poor Irish,
Italians, Portuguese and Spaniards
form the
2.11 billion euro profit that those bankers easily made out of the
pompous funeral of south Europe. You see,
my beloved PIGS, the European Central Bank has a lot of expenses nowadays.
They are building a new house in Frankfurt and you know how difficult it
can be in crisis times to build a house, don't you?
I mean, people,
show some understanding here!
I am sure that some of you had to give away your homes due to the illegal income
cut downs imposed that did not allow you to pay the tax collector.
But don't worry guys!
The troika may have ravaged completely your life, but you gave a new house to
Mario Draghi and i am sure he will send you a thankful postcard as soon as
he sets his foot to his new enormous penthouse office at the heart of
Frankfurt! Apparently,
austerity began in Europe when a bunch of insanely highly-paid bankers felt
that they do not have enough space in the current European Central Bank
premises to let some steam off by playing office golf! Also, they did want something more posh!
Something to remunerate them for the tedious task of sucking Europeans' blood
for so long. The budget for their enormous skyscraper in Frankfurt
to be delivered in 2014
is approximately 1.4 billion euros.
You heard well, ladies and gentlemen,
this is where your sacrifices went to!
Your lives are destroyed so that they can have a cozy view over the river Main
in Frankfurt!
This is madness!!
But wait a minute.
There is somewhere a regulation that vaguely describes that the profits made
by the European Central Bank during the SMP should be returned to the
national banks from which the profits were made.
That is awesome!!
Is this why the European Union won the Nobel prize mom?
Who told you this crap son? The process that this money will come back is not at all
clear.
And if they do return,
they will not go to you, granny from Madrid, but the Banco Santander!
Oh, My, God!
Am I experiencing the first symptoms of senile decay or something is going
completely wrong here?
The PIGS undergo a scandalous economic crisis that has cost many people their
lives in order for the European Central Bank to have the new Towers of Babel
Frankfurt?
They give you their money,
and if you return them,
of course after your new offices are painted, they will go to the banks and
not the people??
This is not the European Union of twenty seven nations!
This is the European Union of 17 banks and that is what happens when you
give political power to uncle Scrooge and his friends.
One thing is for sure:
Robert Schuman,
the founding father of the European Idea, would have never thought that any
central bank of Europe would have had the power to build new premises at the
cost of human life! Until next week, Join the Hive!