Italy’s public debt reached €. 1,901,000,000,000.- resulting in a sudden heavy burden of €.31,700.- resting over the head and shoulders of each citizen including the new born! Meaning that my neighbour’s pregnant wife will deliver next month a baby already indebted to the state with €.31,700.- that his parents and older sister, at their turn bearing triple that amount, will not and can not explain to him Why! Needless to point out that the interests on that debt are little over €. 75,000,000,000.-/year!!
Make your own calculations and imagine the disastrous future awaiting a country in similar situation having a stagnant economy, crippled by a sick political class infected with corruption and favouritism. A political class that lost every decency and totally conceded its guidance to a culture tutored by Fascist ideas, Masonic brains and Mafia muscles. A political class that can not govern and can not stand up to its responsibilities or honour its debts.
I don’t know for certain, and I suppose you don’t know either, the true factual and actual “Egyptian Public Debt” topped by its annual interests. I am living in Italy, but being an Egyptian citizen, I can’t accept to wake up one day and discover being indebted, in Egypt, by I don’t know how much and, even worse, I don’t know WHAT FOR!?!
I didn’t ask for new airports to be constructed, not to say through manipulated tenders, while the completely deregulated and degraded public schools are crumbling over the heads and bodies of our children!
Nor did I agree to finance gigantic projects for bridges and marine ports while public universities and public hospitals lack the very basic requirements like equipped laboratories, hygienic classes, dignified professors, or oxygen bottles, blood reserves, decent nursing, not to say new technologies!!
Or maybe you conceded your approval to those who sold our petrol and gas illegally then pocketed generous off-shore commissions promptly deposited in foreign accounts!!!
I did never hoped for a “Computer For Every Student” knowing that the Analphabetism is growing like a ferocious cancer, and while the primary and preparatory public schools drop-outs exceeds 48%, the teachers and professors are driven to a parallel black market to make a decent living!!!!
Perhaps the Egyptians, have willingly agreed to pay the re-armament and re-equipping of a “Civil Institute” as the police and security forces, though not being a belligerent or a combative body, with expensive state of the art assault and warfare technologies, vehicles, logistics and ammunitions, while millions of citizens live below the internationally set poverty standards!!!!!
For that and for a lot more, mainly for all the corruption which came along, I Refuse To Pay for what I didn’t ask for, and for what I wasn’t informed about; but mostly for being disrespectfully denied my constitutional right to participate through a truly elected representation institution used to be known as “The Parliament”.
I invite you to join me in calling upon those who continue to present themselves as patriots, saviours and guardians of the country’s future, to declare the “Default”. To cancel the public debt with a single and simple pen’s stroke, and stop asking for loans. Otherwise Egypt will never, and I repeat never, be able to stand erect. Just stand erect.. Not like the Asian cats who forced their way out from the ranks of the dependant and needy Third World into the files of the generously giving industrial First World!
Remember Raphael Correa? The president elect of the Ecuador in 2007? Well, among his very first acts in office, he declared that he will not reimburse the debts contracted by the precedent régimes! By the end of 2008 he also ordered not to pay the due debt’s interests, sending the country in default in order to spring forward its economy, resulting in a positive 7.2% growth by the closing of 2008. In 2009 the default went down to 0.4% and maintained the average growth steadily moving safely between 2 & 3% annually.
I am not an economist, and I don’t claim to be a Wall Street expert, and honestly I do not care if a “creditor” gets angry or threatens the worse; because I am truly convinced that the poor majority should not finance the fortunes of the cunning and scrupulously corrupt very slim minority.
I believe that an honest working and producing middle class should not be dragged down the ladder, for the benefit of the selected few, thus not only losing its economic driving force which guarantees a country’s economic growth and social stability, but it also loses its political say being crushed under the pounding pressure of the daily survival needs costs, and their daily decreasing earning’s shrinking procurement power devoured by a completely uncontrolled inflation, and that is why they can not stand and defy the unfit political class.
I believe that such scheme have been going on for too long, and as though does not give any chance for a healthy class renewal, known in a country where through adequate education and healthcare, the base of the pyramid select the willing to be pushed up into the middle class thus reinforcing the economy’s guarantor; a process that normally takes seven to ten years to fulfill its regenerating cycle.
I believe that the people must be willing and able to reverse a situation in which the rich escapes the penalty, leaving the poor to serve the term.
I believe that the honest citizen should not be asked to clean the mess that few corrupts have left behind shamelessly.