Central Banker Takes Over Greece; Demands Tax Hikes, More EU Control

By:  Alex Newman
11/17/2011
       
Central Banker Takes Over Greece; Demands Tax Hikes, More EU Control

Trilateral Commission member Lucas Papademos, an unelected career central banker with decades of experience, is taking over the Greek government after being sworn in as Prime Minister last week. His main priority will be to keep Greece in the crumbling euro-zone he helped erect by raking in more bailout money from European taxpayers. 

“Our membership in the euro is a guarantee of monetary stability and creates the right conditions for sustainable growth,” Papademos claimed after rising to power. “Our membership of the euro is the only choice.”

Other reforms at the top of his agenda include chipping away at what little remains of national sovereignty in Europe and instituting better Brussels “oversight” of member states. He also hopes to expand the emerging bailout regime — which critics have referred to as a “dictatorship” — by giving it more “firepower.”

"Dealing with Greece's problems will be more difficult if Greece is not a member of the euro-zone," Papademos alleged in parliament on November 16. "We must take more radical measures to deal with the crisis which include ... boosting the resources and the flexibility of the [European Financial Stability Facility bailout machine] and creating a stronger framework of economic governance in the euro-zone."

Trilateral Commission member Lucas Papademos (right in picture), an unelected career central banker with decades of experience, is taking over the Greek government after being sworn in as Prime Minister last week. His main priority will be to keep Greece in the crumbling euro-zone he helped erect by raking in more bailout money from European taxpayers. 

“Our membership in the euro is a guarantee of monetary stability and creates the right conditions for sustainable growth,” Papademos claimed after rising to power. “Our membership of the euro is the only choice.”

Other reforms at the top of his agenda include chipping away at what little remains of national sovereignty in Europe and instituting better Brussels “oversight” of member states. He also hopes to expand the emerging bailout regime — which critics have referred to as a “dictatorship” — by giving it more “firepower.”

"Dealing with Greece's problems will be more difficult if Greece is not a member of the euro-zone," Papademos alleged in parliament on November 16. "We must take more radical measures to deal with the crisis which include ... boosting the resources and the flexibility of the [European Financial Stability Facility bailout machine] and creating a stronger framework of economic governance in the euro-zone."

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Photo: Outgoing Greek Prime Minister George Papandreou, left, and newly appointed Prime Minister Lucas Papademos gesture to photographers in Athens, Friday, Nov. 11, 2011.: AP Images

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