Greeks living abroad, the Greek Diaspora, are willing to buy out Greece's debt but are demanding drastic changes to the Greek Constitution and national elections immediately.
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 régime 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 farmland 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 TV 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 state that something is “wrong” with the Greek debt and summarize 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 - term 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.Replying to 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 been owing to a “specific creditor” since 1982!
Mr. Lambrakis also says that US $50 billion has been deposited in Canadian banks for the Cypriot debt while 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 and are not afraid to declare:
This place will not fail because some want. It will remain free and will be dominated by Greeks..
Finally, Dr. Lambrakis raises some interesting points with regard to religion, Golden Dawn and leftists:
Our triptych is Hope, Justice, Paedia (tr. education). We do not favor any party nor represent any religion. We are, above all, Greeks. If Orthodox priests put Orthodoxy first and then Greece, they will find us opposite. If leftists put their ideology first and after Greece we will be against them. The same applies to the Golden Dawn. First and foremost, Greece.
However, the Greek government has not accepted this donation yet and the “mainstream” mass media have not given a lot of coverage to the subject.