According to the Swiss newspaper The Local, last week "[t]he European Union said ... it is helping Greece negotiate with Switzerland in a bid to claw back some of the €60 billion [$81 billion] in unpaid taxes believed to be hidden in Swiss banks."

Thursday’s article in The New York Times by writers Jack Ewing and Nicholas Kulish about the “rift” between factions over the role of the European Central Bank (ECB) was a distraction and misdirected attention from what is really happening there. The piece makes it sound as though the ECB is standing firm against pressures to have it buy up the debt from Greece and Italy in order to keep the debt “contagion” from spreading elsewhere.

At a joint briefing on Wednesday with Irish Prime Minister Enda Kenny, German Chancellor Angela Merkel (left) announced the next step towards the creation of the supra-national European state: “Germany sees the need…to show the markets and the world public that the euro will remain together, that the euro must be defended, but also that we are prepared to give up a little bit of national sovereignty…” It must be done, she said, so that the euro is “strong and inspires confidence on international markets.”

Critics are assailing the new European Central Bank boss Mario Draghi — an ex-Goldman Sachs chief and a regular attendee at secretive Bilderberg meetings — as he continues to buy up more government bonds with newly created money. But Draghi is merely one important figure in what is being called a wide-ranging banker “coup d’etat” in the European Union, according to analysts.

Trilateral Commission member Lucas Papademos (right in picture at left), an unelected career central banker with decades of experience, is taking over the Greek government after being sworn in as Prime Minister last week. His main priority will be to keep Greece in the crumbling euro-zone he helped erect by raking in more bailout money from European taxpayers.  

“Our membership in the euro is a guarantee of monetary stability and creates the right conditions for sustainable growth,” Papademos claimed after rising to power. “Our membership of the euro is the only choice.”