“Under the terms of the new bailout accord, which provides 86 billion euros of new debt to a government already vastly overindebted, the country must sequester 50 billion euros worth of public assets to sell off at distressed prices to mostly foreign bidders—with German companies first in line. […]
But the plundering that has now begun unmasks the whole euro charade for what it really is—a war of conquest by money rather than by arms.
Privatization is a standard feature of the neoliberal policy mix seeking smaller government, less state intervention and more free-market competition. (Privatization, of course, leads just as often to crony capitalism, while some services, such as electricity and trains, are arguably more efficient as government-owned monopolies.)
But privatization in the context of the bailout accord is tantamount to expropriation, like forcing a bankrupt to sell the family silver in order to pay off debts. […]
How anyone can view this blatant profiteering as furthering the process of European integration is a mystery. How any European can look at this naked German aggression with equanimity is also baffling.”