The Greek Finance Department denies that it has been approached by Greeks living abroad who claim they have more than 600 billion dollars and are willing to buy out Greece’s debt. “It’s a bad taste joke,” says the Ministry and adds that nobody has ever approached the Greek Government about the 600 billion dollars.
“We are struggling to find 11 billion dollars, and to suggest that there is 600 billion dollars available to us is a terrible joke,” says the Ministry. Yesterday it was revealed that the FBI is looking into the claims and has described them as a “fraud”. Also the Canadian bank has denied reports that the two Greek men have deposited 600 billion dollars. “No deposits have been made to our bank from the these two gentlemen,” the bank said.
However claims by members of the Greek diaspora have received wide coverage in Greece and many people tend to believe them. They also believe that there is a worldwide conspiracy that does not allow the Greek government to accept the funds.
The “saviours” however are demanding drastic changes to the Greek Constitution and immediate national elections. The Canadian Bureau of END (End National Debt) is a philanthropic NGO consisting of Greeks of the Diaspora or Greek expatriates who live mostly in the US and Canada.
The Greek expats have declared publicly that they will buy out Greece’s debt under two conditions: -The debt would cease to be repayable to the IMF, the ECB, European countries and private creditors and an International Audit Committee would be formed to decide on which part of the supposed debt is ‘odious debt’. ‘Odious debt’ is often defined as a country’s national debt incurred by a government or regime for purposes that do not serve the best interests of the nation and, as such, should not be enforceable.
Once these arrangements were in place, END would fund private companies, the industrial sector, trade, finance, and agriculture so as to help Greece get out of five consecutive years of recession. -The Greek Constitution would be changed and national elections would be held immediately. While speaking to a Greek local television station, Mr. Emmanuel Lambrakis, a medical surgical professor, mentions that the organization has already deposited bonds up to US $600 billion in Canadian banks so as to acquire Greece’s debt owed to European countries, private creditors and economic institutions.
Dr. Lambrakis along with Mr. Soras – a founding member of END and benefactor of the loan – openly stated that something is “wrong” with the Greek debt and summarized the anger of the Greek nation, saying: “They could not go bankrupt Greece, because $600 billion is already deposited for the Greek Republic with some terms. The main condition – there is to be a thorough audit of where the money went. For me something about it is very wrong. And those who “cooked” the deficit account will be accountable.
With interest, the one who brought the country here, what evil has been done in the country with his signature.” Regarding why they are taking action now, Dr. Lambrakis answers that Greece is presently running the risk of defaulting at any time and the mass media along with the government are hiding this fact from the Greek citizens. In addition, he says that it is urgent that $31.2 billion be given to Greece immediately because if Greece does not have it by 14 October, the country will go bankrupt.
Interestingly enough, he points out that this sum of money is money from bonds Greece has owed to a “specific creditor” since 1982! Mr. Lambrakis also says that US $50 billion has been deposited in Canadian banks for the Cypriot debt, and that Cyprus President Demetris Christofias has already discussed the proposal with eight delegates from END. The Greeks of the Diaspora mention that their motives are intensely patriotic.