by Humphry Carter

The European Central Bank needs to come clean.
Over the weekend, one of the Spanish financial papers revealed that the European Central Bank first became suspicious about Greece's accounts back in 2004 and indeed, did, on the quiet, discover certain irregularities.

But, as a pending black hole had been discovered on the quiet, the ECB decided to turn a blind eye because it did not have enough money to plug the financial hole.

If it did not have the cash then, it certainly has not got the money now and should stop trying to kid the Euro zone and the general public that a solution will eventually be found.

Greece has been fleecing Europe for years. I know an MP who was on the European agricultural committee and was once dispatched to Greece to inspect how the EU's subsidy for tomatoes were coming along.

Coming along? Most of the farms which had been receiving the subsidies for a considerable amount of years, did not exist and, those that did, were not growing tomatoes.

Now there is talk of Greece having a dual currency - keeping the Euro, or rather remaining in the Euro zone, but have the Drachma back which will enable Greece to devalue the Drachma and therefore its deficit.

How that is going to work, I don't know but I think it's time the ECB comes clean.


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