EU bail outs, as explained by Mary Ellen Synon

Watch out Portugal, when interest rates hit 7.5 (tomorrow perhaps) then EU dependency awaits you. The following extract, from Mary Ellen Synon's blog, linked here, reveals the real agenda!

It is important to remember that these bailout conditions for Greece, just like the bailout conditions for Ireland, were designed by the EU and not by the IMF. The IMF technique for bailout is first to devalue the currency and oversee spending cuts, then negotiate with bondholders. The reason the EU insisted on being leader in the bailout was to stop that very sensible IMF technique being used anywhere in the EU.

Reason? It would have meant a member state becoming independent of Brussels. The IMF could have helped the member state drop out of the euro. Staying in the euro and paying off all the bondholders, as the EU insists, means recovery has to come the more slow and painful way – by the anti-growth austerity Greece and Ireland are both suffering now.

Of course, this means leaving the people of both countries burdened with loans they can never pay off, and with spending cuts and unemployment levels from which they will not recover for a generation. The bailouts are designed in this way for just one reason, to forge the final link in the chain that will shackle Greece and Ireland, and in turn other eurozone countries, to a centralised European government.

The following later paragraph from the same article seems worth highlighting with red:

The unelected technocratic elite of Brussels see government as being too important, too complicated for the little people to control. Sending in inspectors named Klaus to direct the fiscal and economic movements of the government of a member state is more what the euro-elite have in mind -- what they have in mind now, and have always had in mind.