group will convene in Sitges, Spain, a resort community 30 km from Barcelona, on June 4-7. As usual, the information is supplied
by James Tucker and Daniel Estulin who revealed that this year the issues topping the agenda of the club’s meeting will
be the global recession and the approaches to provoking such economic breakdowns that can help justify the establishment of
a full-scale world economic governance.
Intending to prolong
the global economic downturn for at least another year, the Bilderberg group hopes
to take advantage of the situation to set up a “global ministry of finance” as a part of the UN. Though the
decision was actually made at the group’s meeting in Greece last year, according to Tucker the plan was torpedoed by
US and European “nationalists” (for the Bilderberg group, “nationalists” is a generic term for all
nationally-oriented forces espousing national sovereignty and statehood).
All year since
the last meeting, representatives of the global executive management have been convincing the public across the world to embrace
a “new financial order”. The idea recurred in the statements made by N. Sarkozy, G. Brown, and the freshly elected
European Council President H. Van Rompuy, but – against the backdrop of a relatively harmless phase of the crisis –
the activity remained limited to psychological conditioning and no practical steps have been taken. As Jacques Attali wrote
quite reasonably in his After the Crisis, Europe has no right to demand a reform of the global financial architecture as long
as it can’t organize the institutions that would meet its own needs.
The debt crisis
in Greece that currently puts in jeopardy the entire European financial system provides a pretext for drastic measures, and
both the crisis and the measures are vivid illustrations of the strategy that employs chaos to reorder the existing arrangements.
The deliberately generated chaos is tightly controlled by financial institutions,
major banks, and hedge funds and serves as an efficient mechanism of governance and social restructuring.
attack against Greece promptly evolved into onslaught on Euro and – as it became clear – the developments correlated
marginally with the structural shortcomings of the Greek economy. The intensity of the crisis that momentarily posed a threat
to the economic and even political integrity of the EU cannot be explained solely by the appetites of faceless financial players.
There had to be more serious reasons behind the situation, and to an extent the objectives pursued by those who shaped it
can be understood from the statements made by G. Soros. He maintains that the EU owes its current difficulties to the European
(especially German) politicians’ reluctance to move on, that huge problems await Europe unless it starts developing,
and that a kind of a European Monetary Fund helping fight budget deficit must be created. In other words, Europeans are forced
to choose between the collapse of the Eurozone and governance centralization.
laid out a specific centralization plan. It is suggested that the EU countries create their own institutions to monitor the
activities of financial operators. It is also proposed that they should set up a European
creditor of a new formation that – while not being linked to Europe’s central and investment banks or governments
– would guarantee assistance to viable local financial institutions, buy into their assets, and extend loans under specific
terms. Attali further advocates the formation of a European ministry of finance that would immediately be empowered to
hand out loans from the name of the EU, and the creation of a European Budget Fund with a mandate to oversee the budgets of
the countries whose cumulative dept totals over 85% of the GDP. He warns that an even severer crisis should be expected otherwise.
Under the US pressure,
A. Merkel finally consented to tough measures (purportedly, Sarkozy even threatened that France would revert to national currency
in case she held her own), and early last May EU finance and economy ministers signed an agreement on the mechanisms of budgetary
stabilization in the Euro zone, which envisaged the establishment of a Euro 60b safety pillow fund to urgently rescue countries
battling with their public finances and the allocation of Euro 440b in guaranteed loans. The IMF also pledged Euro 250b in
the case of need. The money is meant for sovereign debt bailouts in the Eurozone, a mission which – for the first time
in its entire history – the European central bank will also undertake. Steps facilitating financial transactions were
announced by central banks across the world including the US Federal Reserve which will urgently inject US dollars into the
European Central Bank as well as into British and Swiss banks.
The above can be regarded as the first phase of progress towards centralized European monetary administration. It is unclear
so far how exactly the “grand architects” see the world financial governance and what role they plan to give to
existing financial institutions like the IMF. The options on the table range from building totally new institutions to –
as, for example, suggested by Attali – using the IMF as an authorized supranational regulation center run by a G-24
again we are witnessing the creation of mechanisms of centralized supranational control over national economies, and the crisis
acts as a catalyst for a guided fast transition to tighter integration within the EU, which is necessary to build a close-knit
The plan imposed
on Europe by elite financial circles implies countering the indebtedness problem with the help of new borrowings, which will
exacerbate rather than remedy the budget problem. According to Eurostat data, in 2010 the Eurozone sovereign debt will grow
from 77.7% to 83.6% of the GDP. Moreover, it is widely held in the expert community that the indebtedness figures for Greece,
Portugal, and a number of other EU countries are unrealistically low and do not reflect the actual proportions of the problem.
Experts from Lombard
Odier, a Swiss bank, estimate the bulk of Greek bad debt at 875% of its GDP, which
means that to meet its obligations the country would have to invest – without any foreseeable returns – an amount
exceeding its GDP by a factor of 8.75. The situations in Poland and Slovenia are even more alarming – in their cases
the bad debt to GDP ratio is 15 and 11 respectively. The corresponding average
over the Eurozone is 4.34, and in the US – 5.
problems untouched, the mitigation measures are paving the way for the supranational institutions advocated by mondialist
Attali. On May 21, the EU finance ministers adopted at a meeting chaired by European Central Bank president Jean-Claude Trichet
and European Council President H. Van Rompuy the German plan of much greater budgetary coordination including penalties for
states that break the EU budgetary rules. The sanctions will include suspending the voting rights of repeat offenders, withholding
the funding for infrastructural development, etc. It was also proposed to subject national budgets to EU screening prior to
their being debated in national legislatures. A report will be prepared by June 17 – notably, the date of the EU summit
– outlining a common Eurozone policy. Other, yet more ambitious projects like full control over Eurozone national budgets
by a triumvirate comprising the European Commission, the European central bank, and the Euro Group are also discussed.
of the rescue packages are the worst part of the problem. Invoking the threat of financial collapse, the EU countries serially introduced extremely unpopular austerity regimes with salary
and pension freezes for state employees, welfare cuts, increased retirement ages, etc. Greece was the first but
not the only country affected.
The German government
plans to cut spending by Euro 10b annually in 2011-2016. France abolished the annual pension for low-income families. Under
the IMF pressure, Spain is launching a comprehensive reform including pension indexing freeze, pay reductions and employment
cuts in the state sector, the abolition of payments to support families with recently born children, etc. Great Britain, Italy,
and others are following the lead. [What is planned for Europe is also planned for the U.S.}
of the measures are hard to gauge considering that Europe is already facing serious poverty and unemployment problems (the
unemployment has reached 10% of the economically active population and continues to grow, and at least 80 mln people are currently
below the poverty line).
Most likely, the
shadow world government – the Bilderberg group – will administer to the public the doze of social problems carefully
calculated to enable the elites “to offload troubled assets”, retain control over the situation, and divert protests
from the actual sources of problems that trigger them. [The media romance with global warming is part of that diversion strategy. The neoliberal clauses in the Free-Trade Agreements reveals duplicity.]
perspective, the conclusion is obvious: any deepening of its integration into the “free” Europe strengthens the
financial and informational control over Russia exercised by the global elites seeking to strip it of the status of an independent
Ph.D. in History, is Assistant Professor at Moscow State Institute of Intentional Relations of the Foreign Ministry of the