Whose side are you on, Mr Schäuble? People or banks?

by Collettivo Prezzemolo on March 9, 2012

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The Collettivo Prezzemolo staged a big protest against the German Finance Minister. ROAR founder Jerome had the chance to confront him with some facts.

Report of the protest here. Collettivo Prezzemolo statement here.

Transcript of the Intervention:

Mr. Schäuble, thank you for your beautiful Orwellian speech — I have to congratulate you on [unintelligible mumbling] that mind-numbing political rhetoric.

You are undoubtedly a very smart and affable man. I’m sure you read the news; I’m sure your advisers pass you very important reports that you read. So you know. You know that the Greek economy is entering its fifth year of recession; you know that the economy contracted by 6-7 percent last year and is set to contract by another 4-6 percent this year.

You know that the austerity measures that are being imposed by you and your colleagues are actually aggravating the situation. You know this because the IMF actually formally stated this; it admitted it in a recent report. You know it because in a secret document circulated in a meeting between you and your fellow European finance ministers, it was admitted that despite the second bailout, despite the haircut that is being asked of private lenders, Greece will probably still need another bailout by next year.

At the same time you know that the ‘bottomless pit’ here is not Greece. You know that the bottomless pits are the overleveraged financial institutions that overextended themselves on Greek bonds in the lead-up to the crisis. You also know that public spending in Greece — that much-hated Greek welfare state — is actually anemic. It’s below the EU average. It’s below Germany’s.

You know all these things.

You know all these things, yet you continue to impose the same counter-productive austerity measures on the Greek country [sic.], in complete disregard for the national sovereignty of the Greek people and the democratic legitimacy of the Greek state.

So I’m asking you, basically, a very simple question: Who are you really trying to help here? Who are you really trying to save? Whose side are you on? The peoples of Europe, or the financial institutions you’re trying to serve?

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{ 6 comments… read them below or add one }

Carlos March 9, 2012 at 12:06

The same rethoric. Always the same shit words repeated like a mantra.
Did he reply to your question? No. Just blame the greeks over and over.
Thank you all guys and thank you Jerome for speaking for a growing part of society that is sick of all this piigs arround the world of finance and politics. It may not change too much in the short period, but at least, we still have a voice!
And we will roar loke a mantra that this is NOT THE WORLD WE WANT TO LIVE IN!
In bocca al luppo!


Chris March 9, 2012 at 16:07

Good work on this one Jerome.
Greetings from Greece.


Santi March 9, 2012 at 23:51

The fact that you are telling this to the GERMAN Finance Minister should already be incoherent!

You couldn’t have said it better, the awkwardness of his response actually answers your question (our question). Well done man!


Julien Febvre March 12, 2012 at 13:20
Kenneth Lowndes March 30, 2012 at 06:12

End Interest, END Usury, END injustice.


Hanjo June 6, 2012 at 21:54

Very well put. Too bad that he didn’t have the courtesy to give you an answer, what can you expect from a politician.


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