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Greek Debt Commission Declares Debt ‘Illegitimate’ and ‘Odious’

June 18, 2015 (EIRNS)—The Debt Truth Commission of the Greek Parliament on June 17 issued a preliminary, but extremely important, report on the more than €240 billion debts which the European “Troika” institutions—the European Commission, European Central Bank, and IMF—claim against Greece. After extensive hearings and examination of evidence, the Commission found all of this claimed debt to be illegitimate, and that it should not be paid.

The findings strengthen the Greek government’s position against these same institutions’ demands for new, and suicidal, economic austerity measures against the Greek population. Furthermore they confirm the analysis published by EIR on behalf of Founding Editor Lyndon LaRouche in late February of this year, which found that the so-called “bailout debt” of Greece was a huge swindle, transferring European taxpayers’ funds, via Greek government accounts, to bankrupt megabanks in London and Europe.

The Debt Truth Commission’s report says:

“All the evidence we present in this report shows that Greece not only does not have the ability to pay this debt, but also should not pay this debt, first and foremost, because the debt emerging from the Troika’s arrangements is a direct infringement on the fundamental human rights of the residents of Greece. Hence, we came to the conclusion that Greece should not pay this debt because it is illegal, illegitimate, and odious.

“It has also come to the understanding of the Committee that the unsustainability of the Greek public debt was evident from the outset to the international creditors, the Greek authorities, and the corporate media. Yet, the Greek authorities, together with some other governments in the EU, conspired against the restructuring of public debt in 2010 in order to protect financial institutions. The corporate media hid the truth from the public by depicting a situation in which the bailout was argued to benefit Greece, while spinning a narrative intended to portray the population as deservers of their own wrongdoings.”

Political forces in other super-indebted countries in the Eurozone will also be affected by these findings.