The Third MoU is in line with the 2 preceding ones. It continues to violate fundamental human rights, while at the same time crippling the Greek economy and providing no incentives or platform for growth, investment and enhancement of trade. Its aim is to collect even more taxes and raise revenues in order to continue repaying Greece’s “debt” without any reference to debt reduction with a view to serious debt sustainability. The MoU calls for greater privatization which is contrary to economic self-determination and without a serious plan risks dissipating and under-selling profitable businesses and creating more joblessness. Greece has effectively lost its sovereignty in the same manner as the previous agreements. Any bill that comes through parliament must receive the approval of the creditors before being adopted. Such restrictions on legislative sovereignty can only culminate in an absence of democracy and the imposition of subservience and colonialism. It is instructive that upon reaching agreement with its creditors, the Greek government adopted a series of laws which the creditors had long demanded. One illustrative example is the adoption of a new Code of Civil Procedure. This new Code had been rejected by 93 per cent of the lawyers and had been resisted by previous Parliaments. Astonishingly, the new Code envisages that where an entity is insolvent or otherwise unable or unwilling to satisfy its creditors, private banks will always carry the status of preferential creditors, above and beyond the State as well as beyond and above employees! This outcome is alien to Greek constitutional, administrative and civil law and is no doubt the result of intense pressure by Greece’s creditors.