Okay. This is my “You’ve got to be fucking kidding me” post of the day. A bunch of greedy, super-wealthy, parasitical money-men are going to sue the nation of Greece for “human rights violations" if they are not paid back in full on the money they lent out. I’m reminded of a play by Shakespeare, only with an Orwellian touch.
On the one side are a handful of filthy rich plutocrats demanding blood from the Greek government. On the other are Greek workers and poor people who depend on government funding for important social services. If the latter group settles for anything less than total deprivation, hunger, and homelessness, the former group will sue for crimes againts humanity. And still these modern-day Shylocks are shamelessly screaming, “I will have my bond!”
The worst part is that the usurers may actually have a case, for as the article below informs us, in Europe (i.e., in capitalist societies), property rights violations are considered human rights violations! Apparently, capital has been considered “people” way before the U.S. Supreme Court even heard the ‘Citizens United’ case.
All the more reason to end the rule over our societies by the collective capitalists of the world.
Hedge funds have been known to use hardball tactics to make money. Now they have come up with a new one: suing Greece in a human rights court to make good on its bond payments.
The novel approach would have the funds arguing in the European Court of Human Rights that Greece had violated bondholder rights, though that could be a multiyear project with no guarantee of a payoff. And it would not be likely to produce sympathy for these funds, which many blame for the lack of progress so far in the negotiations over restructuring Greece’s debts.
The tactic has emerged in conversations with lawyers and hedge funds as it became clear that Greece was considering passing legislation to force all private bondholders to take losses, while exempting the European Central Bank, which is the largest institutional holder of Greek bonds with 50 billion euros or so.
Legal experts suggest that the investors may have a case because if Greece changes the terms of its bonds so that investors receive less than they are owed, that could be viewed as a property rights violation — and in Europe, property rights are human rights.
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