Greek Banks Immune For Political Loans



Tax-Evasion2Greek financial prosecutors are preparing to send the findings of their investigations into party funding to the Parliament controlled by the parties who got the loans they haven’t repaid even though recently-passed laws giving immunity to bank officials for granting loans without proper collateral mean no one will be prosecuted.

The ruling New Democracy Conservatives and one of their coalition partners, the PASOK Socialists – who had taken turns ruling the country the previous 40 years, during which they packed public payrolls with hundreds of thousands of needless workers in return for votes, helping create a crushing economic crisis – owe Greek banks 250 million euros ($326.3 million) – but aren’t paying.

The newspaper Kathimerini said it has has learned that the prosecutors, who have questioned officials from New Democracy and PASOK over their parties’ combined debts, are determined that the results of their probe should reach Parliament – which is controlled by the parties being investigated and has passed an amendment giving legal protection to bank officers who approved the questionable loans, effectively creating a political slush fund.

The banks are dependent on the government to provide recapitalization monies after being brought to the edge of ruin when former finance minister Evangelos Venizelos, now head of PASOK, hit investors with 74 percent losses in a bid to write down the country’s debt.

While the banks aren’t attempting to collect the political loans – which the parties receive on top of getting money from the treasury and yet still haven’t paid their staffs – Greeks who owe mortgages, loans and credit cards are being hounded to repay everything despite big pay cuts, tax hikes and slashed pensions being imposed by successive PASOK and New Democracy governments, with Prime Minister Antonis Samaras’ current administration also getting the approval of the tiny Democratic Left (DIMAR) in implementing austerity.


21 COMMENTS

  1. THIS IS SIMPLY OUTRAGEOUS & REASON FOR THE GREEK PEOPLE TO SHUT THESE TWO CRIMINAL PASOK & ND PARTIES DOWN NOW— HANG THEM ALL!

  2. “1HANG THEM ALL”

    Commie advocating world arts advocating mass murder again. What a surprise.

  3. Thieves by the law…Both Pasok and ND parties and all politicians past and present are all corrupt and criminals in the eye of the law but because they cannot be touched because they are immune from prosecution…They loot the country’s wealth by means of protecting themselves by the law whom they write and pass these laws themselves…What the FK is happening to my country??? These politicians are looting my country’s wealth without been able to stop them…Someone should take the lead and take charge of this country otherwise we will end-up dead by these criminals in parliament…

  4. a. It is not true that all “Pasok and ND parties and all politicians past and present are all corrupt and criminals in the eye of the law”. Some were corrupt, and they are being prosecuted one by one. Justice is not about wholesale witch hunts that lump in the innocent with the guilty. Mob violence that communist worldarts supports is not justice.

    b. You suggest vaguely that someone should take the lead.. but never explain which party and politics you support. Only complaing about poiticians (as if they can fix everything for us) does not help our country. We also have to advocate a course of action and take personal responsibility for our own lives too.

  5. Really? You’re going to pull the political adversary card after reading this? The mere suggestion that a lawmaker is passing a law that absolves of all sins the ones that lent them these amounts of money never to be returned (which I wouldn’t give a damn about, sincerely, if it wasn’t for the very same institutions getting funded by tax money every so often “to not fail”), on top of receiving regular funding from the same tax money, is repulsive. You need a fully-fledged political plan before you can state that? :/

    You are correct on that not ALL are guilty (of embezzling/looting at least), yes. But they are guilty of collaboration, as their signatures are in this or that fraudulent bill.

    Also, “one by one”? Where is that “one by one”? The only ones that have gone to jail in the past 30 years are Tsovolas and Tsoxatzopoulos – and the latter is still in progress.

    Have some perspective. You’re replying an internet comment of a (justly, in context) angry citizen. What did you expect instead of “vaguely suggesting”? A 600-page detailed political program? Or do you doubt that through mismanagement and fraud they -have- looted?

    KKE would’ve brought us even more decades behind, Syriza have absolutely no views or plan whatsoever, and GD shouldn’t be allowed in elections due to directly questioning the regime and perusing violence. I don’t have the answer on “who would be best” among the smaller parties. But that doesn’t mean I’ll support “the evil I know”…

  6. No. they are not all guilty of “collaboration”. This is slander. And yes others are being reviewed not just Tsoxatzopoulos. We (i.e. civilized human beings) have a court system to review cases. It might be imperfect but it is far better than say witch hunts by fanatics that absurdly rant “hang them all”.

    As for GD, as far as I can see communists (including Syriza) are far far more prone to violence. The problem with far leftist extremists is they frame their riots and terrorism as “protesting”. However it is violence against democratical elected government and private entities. Part of I me would love to see the self-righteous communist extremists like Syriza banned long before GD.

    However, unlike fanatics that like silencing political opposition, I believe in freedom of expression. So I ultimately believe no party should be banned (even the communists that I despise should have a right to speak). If some individual in any party breaks the law, they go to jail. We should not wholesale oppress people’s rights to express themselves even if we disagree.

  7. THIS IS OUTRAGEOUS & REASON FOR THE GREEK PEOPLE TO SHUT THESE TWO CRIMINAL PASOK & ND PARTIES DOWN NOW— HANG THEM ALL!

  8. Alex you are living in a cuckoo land…you don’t know what you are saying but let me say this, yes they are all corrupt one way or another or some knew about what was going on and never report a thing about corruption nor money laundering or they voted for their immunity to cover their a s s’s while looting the wealth of the country…So either they are corrupt or they covered up for their colleagues it means they are all corrupt…You don’t have a brain my friend…Go on and submit your lovely comments…I like to read them…

  9. Every single government in power since the overthrow of the fascist junta in 74 is guilty of both, corrupt practices and direct institutional mismanagement. Our country’s whole socio-economic landscape has been at the mercy of, as you say, corrupt politicians, and yes those who weren’t practicing corruption are equally guilty by association, for not voicing the financial rape of our state coffers.

    There are no innocent politicians here! We are governed by ambitious opportunists, weighing up and measuring all their credibility on the tidal direction of our peoples votes rather than on understanding the lessons of transparency, on checks and balances, and ever significant the swinging pendulum of global economics.

    I agree that until, some incredibly farsighted (and courageous) statesman or political party dissolves our country’s out-dated constitution, introduces innovative institutional models (e.g. Britain, Germany, Scandinavia, Australia, etc.) into a new parliamentary constitution and roots out our country’s endemic political incompetence, our people will continue to regress.

  10. Slander would be if I targetted a specific individual with untrue allegations to damage him/her for my own personal direct or indirect benefit. Your views about how GD is “less prone to violence” are telling enough. However, since (as you say in another comment) you live in the US, allow those that live here to have a more educated guess. Or swap places, I could come live in the US (even though I’m not a fan) and you can come live in this situation your beloved system has created for its citizens and keep defending it, tagging anyone who dares to be outraged by it a “savage witch-hunter”. That would work out nicely. Reminds me a lot of that AMAN sketch about interviewing common folk about PASOK’s government and being met by superlatives and glorification until the last question where it’s revealed they actually live in Germany, not Greece.

  11. Oh, but you wouldn’t want that, would you. Just saw another comment of yours, in the airports article. “Greece is so backwards. Nice to enjoy and experience while on a holiday, but impossible to live in.”

    Don’t get me wrong, I fully agree on that one. But it also negates your previous arguments. “It’s fine, as long as I don’t have to live in it, but you who have to endure it should shut up and smell the flowers”? That’s not how it works, mate. And it kinda IS an attempt to “silence political opposition”.

  12. Sorry. You indeed are implicitly slandering all the politicians that are not part of some imaginary conspiracy.

    Your views that far leftists are less prone to violence are telling enough. Sorry to inform you but far leftist terrorism and endless riots count toward VIOLENCE. The comparison isn’t even close comrade. Far leftist extremists in Greece engage in far far more violence than those on the far right. (also see Greek civil war where they murdered tens of thousand of Greeks for IMRO and communist tyranny)

    Also telling is you seeming more concerned about my comments rather than Savas…. that constantly openly cheers on far leftist violence on this website (including terrorism). Even on this thread he advocated “hang them all”…. against our democratically elected government.

  13. Far leftist extremists like going on and on about the Juntu. They don’t seem to like to take about the far leftist extremists that MURDERED tens of thousand of during the Greek civil war for the sake of communist mass murdering dictators s like Stalin and Tito. (while betraying their own country to IMRO)

    Today many of those that support EXTREMIST communist parties like Syriza glorify those murdering oppress thugs as “heroic”.

  14. Why are you insulting me with childish name calling Maverick? Seems to me you like to dish it out about ‘corruption”, but when it comes times to questioning your own behavior you don’t like to face honest and fair criticism,

    My point stands.

    a. you resort of hyperbole stander of all politicians. This is moral wrong. All our politicians are not part of some vast conspiracy like far leftist crazies like worldarts claim. This is why millions of Greeks still vote for them even if some Greek dishonestly pretend they never supported any of our mainstream parties.

    b. Your arguments are limited to ranting about others. You never explain politics or party you support. Ranting without a course of action is not a method to help Greece. All you do by behaving in this generate hysteria (which the Skopians love incidentally because they want us to fight with one another)

  15. Correction. Far leftist extremist Worldarts advocates “hang them all” and cheers on leftist terrorism.

    Far leftist extremsits like Savas, that apologizes for communist parties like Syriza, just slander all those that disagree with him as “fascist”,

  16. THIS IS OUTRAGEOUS & REASON FOR THE GREEK PEOPLE TO SHUT THESE TWO CRIMINAL PASOK & ND PARTIES DOWN— GET RID OF THEM NOW!