EU strips Greece of sovereignty

[w¡n9Nµ7 §£@¥€r 123]

The council of EU finance ministers said Athens must comply with austerity demands by March 16 or lose control over its own tax and spend policies altogether. It if fails to do so, the EU will itself impose cuts under the draconian Article 126.9 of the Lisbon Treaty in what would amount to economic suzerainty.

While the symbolic move to suspend Greece of its voting rights at one meeting makes no practical difference, it marks a constitutional watershed and represents a crushing loss of sovereignty.

http://www.telegraph.co.uk/finance/finance...overeignty.html

[mawilson 2,133]

economic suzerainty.

Sounds scary.

[Otto 83]

They (Greece) will figure it out, they say they have - they have no choice, neither the EU nor Greece. The hammer is dropping.

[Peikko 1,575]

That's what comes from cooking the financial books. I'd have thought the fans of punishment would be impressed.

[Ali G. 37]

The need to do this, the people in charge are used to cooking the books there, so there is no other way to catch these bastards out.

E.G. A project has $110 million budgeted for it, but costs $80 million to complete. Once completed, at present, nobody asks where the $20 million has gone.

Edited February 18, 2010 by Booyah

[The_Dude 1,142]

The need to do this, the people in charge are used to cooking the books there, so there is no other way to catch these bastards out.

E.G. A project has $110 million budgeted for it, but costs $80 million to complete. Once completed, at present, nobody asks where the $20 million has gone.

110 - 80= $30m

So where's the other $10m going? Dirty crim.

[Ali G. 37]

110 - 80= $30m

So where's the other $10m going? Dirty crim.

Even the auditors take a cut..

[Kathryn41 3,205]

Post containing offensive comment removed.

Edited February 18, 2010 by Kathryn41