Monday, March 11, 2013

It is a banker's world!!!

As if they did not have enough nerve to demand to be bailed out with public money, now some banks in Europe are bank in business as usual.

Our whole lives were changed because of the crisis, that is a crisis of credit. Many of us had to go through very tough austerity measures and all that so that Europe's banking system could be saved.

We were blamed for the mistakes that our governments did and the risks that these banks took. One would think that the banks would face the music at some stage, but no. Even a recent proposal to cap the banker's bonuses, found opposition from Britain. 

 One must really read the following article from the Irish Independent that was published on the 3rd of October 2012, to realize the level of betrayal that the Irish and every European must tolerate from their governments.

"Bailed-out AIB Bank in Ireland, is to hit 70,000 customers with a second rise in mortgage costs in just three months. Owner-occupiers will have their standard variable mortgage cost increased from 3.5pc to 4pc.

A spokeswoman for the Department of Finance said it had been informed in advance by AIB about the rate rise. The spokesman said mortgage rates were a "commercial decision" for banks, even though they were bailed out by the State and AIB had been pressurized to cut rates when the Government came to power.

But since then a relationship framework had been signed with the domestic banks. "We now don't get involved in day-to-day banking. The Government would have no role in it," he said.

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If you read the above article correctly, you will realize that what is actually saying is that the bailed out by the public banks, will now start charging the public for their services. And the Irish Government will have absolutely no say in what AIB does.

In other words, the people of Ireland bailed out this bank with their own money and now the same bank will start charging them as usual. While their government won't get involved and allow this bank to do "business as usual." Who rules Ireland and in extension Europe then?

Perhaps we do not need the European Parliament anymore, we should just allow the ECB to rule Europe. And on national level our governments will be just care takers, doing the work while the orders will come from Europe's banks! Not the Europe that I was dreaming of.

Just today, European Parliament's President Mr. Martin Schulz gave an interview to Reuters, stating that Europe saved its banks by losing a generation of people. And that is so true. Unemployment in some parts of the continent has reached a crisis point and it threatens the very social cohesion and stability of these nations. And of course Europe' stability in extend.

I am glad that Mr Schulz and other leading European politicians are realizing this fact. But now it is time for an urgent action and less words. In his interview Mr. Schulz pledged for investments and the need for direct links between Brussels and the local authorities, to speed up the process of direct investments from the EU.

Well really looking forward to see that Mr. Schulz and perhaps you could also do something about preventing the banks from messing European people's lives again in the future. Thank you.


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