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Archives by Tag 'Greece'
Greece and Our Illusions
SAMIR SONTI
While it may be premature to speculate on the legacy left by the various social upheavals that have occurred since early-2011, the electoral tide sweeping across Europe offers additional evidence that something fundamental is happening. In Greece and France, vote...
Failing Greece
MIKE WHITNEY
“Austerity has failed because Greek society has been destroyed, the production base has been dissolved. Our country has been in a deep recession for five consecutive years. This has never happened in Europe in peacetime.” –Alexis Tsipr...
The Age of Competing Nationalities
PATRICK COCKBURN
The crises in Europe and the Middle East are very different but they are beginning to cross-infect each other, creating a general mood of uncertainty and fear. In the Middle East, the Arab Spring was at first seen as wholly positive, as dictatorships and police states tum...
The Tide is Turning Against Austerity
DEEPAK TRIPATHI
Recent elections in France and Greece have generated a good deal of comment, suggesting that the years of center-right governance in Europe may be coming to an end. The defeat of President Nicolas Sarkozy of France by the Socialist candidate Francois Hollande, and the col...
The Plan to Kick Greece Out of the Eurozone
MIKE WHITNEY
“Men and women of Greece, it is with a sense of dignity and patriotic duty, that we made the decision not to betray your hopes and aspirations…The pro-bailout parties did not simply want us to support a government that would impose more austerity, ...
Why America is Doomed to One Disaster After Another
GABRIEL KOLKO
Both Europe and the United States confront great crises; while they are different in certain regards they have important similarities too.  America’s crisis is both military and economic; they are interrelated because America has a huge deficit, in large part be...
We’re All Greeks Now
ROB URIE
One of the joys of being American is that every new day is a clean slate—no history, no memories, no experiences, a complete blank. This may help explain why our national conversations serve their intended purposes while being entirely content-free. Newsflash to self-de...
The Seismic Results in Greece
ERIC TOUSSAINT
At the May 6 polls, the radical left-wing coalition Syriza becomes the second “party” in numbers of voters as it moves from 4.5% at the previous elections (2009) to 16.8% (52 MPs instead of 13). It is the first party...
Austerity Backlash
JACK RANDOM
The countries that are doing very well in Europe are the Scandinavian countries. Denmark is different from Sweden, Sweden is different from Norway – but they all have strong social protection and they are all growing. The argument ...
The Parasites of Big Finance
RALPH NADER
Morning after morning, New York City based casino capitalists trade with Greece and the latest rumors from Western Europe on their minds. What will affluent Germany do to bail out the collapsing, debt-ridden country of Greece? Will France go along with those plans?...
Saudi Arabia’s Free Pass
SERGE HALIMI
Saudi Arabia’s record is no better than Iran’s when it comes to respect for human rights. Yet the international community always manages to overlook the Wahhabi monarchy. Could this be connected with Saudi Arabia’s status as top oil-producing country and trusted all...
Europe Gets Shock Therapy
CARLOS ALONSO BEDOYA
Eric Toussaint, a Doctor of Political Science and President of the Committee for the Abolition of Third World Debt (CADTM), is a member of the Commission for an Integral Auditing of Public Debt in Ecuador (CAIC) whose findings resulted in Ecuador stopping its repaymen...
The Future of Greece May Not be as Bad as It Looks
PATRICK COCKBURN
Maria Svoronou has three jobs and was finishing a twelve hour day as euro zone leaders were finalizing Greece’s rescue package in Brussels. For all her hard work, she earns only Eur 870 a month and says that “if the situation gets any worse, I won’t be able to survi...
The Humiliation of Greece
MIKE WHITNEY
“How can one speak of default in the future tense when we’re already bankrupt… Don’t you see the people scouring through garbage and sleeping on sidewalks? Those who led us to bankruptcy – the troika and the government – now cla...
Capitalista Virus
ROBERT HUNZIKER
One of the great contradictions of modern day nation-state socio-economics is how and why capitalists continue getting away with sticking average working people with their mistakes. Capitalists receive fees and interests payments for/on issuance of debt by countries a...
Greece and Those Wild & Crazy Guys at the ECB
DEAN BAKER
I have been following the European sovereign debt crisis since it first developed more than two years ago. It was evident from the beginning that the conditions on the debtor nations being demanded by the “troika” of the European Central Bank, the European Union, and ...
Germans, French Were Keen to Sell Arms to Greece
PATRICK COCKBURN
Athens As Greeks waited for a second eurozone rescue package to finally be agreed in Brussels today, many were blaming Germany and France for encouraging and benefiting from some of the much-criticized profligate spending that reduced Greece to near bankru...
Greece Throws in the Towel, Bows to German Jackboot
PATRICK COCKBURN
Greeks expect to agree a deal with the Eurozone leaders today, Monday, that will cede much of their country’s independence. Greece will become an economic – and to a large extent a political – colony of Germany and its allies. Berlin will have a say in everythin...
The Divine Right of Money
PAUL CRAIG ROBERTS
The United States government and its NATO puppets have been killing Muslim men, women and children for a decade in the name of bringing them democracy.  But is the West itself a bastion of  democracy? Skeptics point out that President George W. Bush was put in of...
A Death Sentence for Greece
MIKE WHITNEY
“We are facing destruction. Our country, our home, has become ripe for burning. The centre of Athens is in flames.” – Costis Hatzidakis, conservative parliamentarian ...
The Troika Blackmails Greece
MIKE WHITNEY
“We are being asked to take even larger doses of a medicine that has proven to be deadly and to undertake commitments that do not solve the problem, but only temporarily postpone the foretold death of our economy.” — Hieronymos II, hea...
The Turkish Riddle
PATRICK COCKBURN
Istanbul In the tea houses of Istanbul the mood is generally optimistic as customers listen to the news of the European economic crisis. “Turkey doesn’t need Europe,” says one tea drinker. “Look at Greece – it was inside th...
Draghi’s 489 Billion Euro Fakery
MIKE WHITNEY
ECB president Mario Draghi’s new lending facility–the Long-Term Refinancing Operation–has helped to pull the financial system back from the brink of another Lehman-type catastrophe, but it doesn’t address the fundamental problems that created the c...
Vulture Funds Profit Off Greek Misery
NICK DEARDEN
The hamstrung negotiations over a new Greek bail-out recommence tomorrow with little sign of resolution. As the Greek economy suffers from rapidly rising unemployment and debt levels, and its people experience rises in rates of suicide, murder and HIV, big profits still s...
Draghi’s Real Goal in the Eurozone
MIKE WHITNEY
Imagine if your banker offered to lend you a $150,000 to make up for the money that you’d lost on your home since the housing bubble burst in 2006. And, let’s say, he agreed to lend you this money for 3 years at rock-bottom rates of 1 percent provided that you...