Austerity

We Are All Greece

August 1, 2015 Helena Norberg-Hodge, www.localfutures.org Educate! Austerity, Debt, Europe, Finance and the Economy, Greece

By Helena Norberg-Hodge in Local Futures - The European Union is an extension of the Bretton Woods institutions – The World Bank, the International Monetary Fund (IMF), and the General Agreement on Tariffs and Trade (GATT) – founded at the end of World War II. Their stated purpose was global economic integration in order to avoid another depression and to avert war. But the result was a form of economic development – based on debt, global trade and consumerism – that systematically favored corporate interests while hollowing out local economies worldwide. Sadly, many people still idealistically embrace the Bretton Woods institutions, as well as the European Union. Neither the media nor academia has focused on the role of transnational banks and corporations in promoting this economic path. Instead they continue to reinforce the notion that European “economic integration” is about peaceful coexistence among countries that would otherwise be at war with each other.

Lessons In Greek For Leftists

July 30, 2015 Steven Jonas, www.greanvillepost.com Educate! Austerity, Capitalism, Europe, Greece, Syriza

By Steven Jonas in Greanville Post - Well, Greek lesson 1: what has happened to Syriza and Tsipras shows, once again that that is not possible. The ruling class is the ruling class, and short of revolution, as Lenin so rightly noted, it will always rule, one way or another. Greek lesson 2: The Greek ruling class seems to be coming out of the mess in very good shape. They managed to make sure that the worst of the “austerity” measures, imposed by their brethren in the European Union, were carried out under the nominal governmental control of a “leftist” government rather than its “center-right” predecessor. Greek lesson 3: The international capitalist ruling class (of which the Greek ruling class is of course a part) is absolutely intent on showing the people of Italy and Spain what would await them if they were to elect a left-wing government that would attempt something along the lines of what Syriza originally intended to door seemed to.

Hedge Funds Want Education Slashed In Puerto Rico

July 30, 2015 Mark Karlin, www.truth-out.org Educate! Austerity, Banking, Colonialism, Education, Puerto Rico

By Mark Karlin in Truth Out - According to a July 28 article in the Guardian, the financial vultures of the US are circling over Puerto Rico's skyrocketing debt, which totals more than $70 billion dollars. It is an austerity-driven death watch that by now is common practice among predatory "debt distress" consolidators: Billionaire hedge fund managers have called on Puerto Rico to lay off teachers and close schools so that the island can pay them back the billions it owes. The hedge funds called for Puerto Rico to avoid financial default - and repay its debts - by collecting more taxes, selling $4bn worth of public buildings and drastically cutting public spending, particularly on education. The group of 34 hedge funds hired former International Monetary Fund (IMF) economists to come up with a solution to Puerto Rico’s debt crisis after the island’s governor declared its $72bn debt "unpayable" - paving the way for bankruptcy.

Can The Movement For Free, Quality Public Education Win In Chile?

July 24, 2015 Javier Gárate, www.wagingnonviolence.org Create! Austerity, Chile, Education, Privatization, Student Activism

By Javier Gárate in Waging Nonviolence - The next few months are of critical importance to Chile’s long-running education movement. President Michelle Bachelet has said she plans to implement comprehensive education reform this year, which will guarantee quality education for everyone. To ensure this happens, the movement has increased pressure on the government with huge protests by teachers and students last month, including an indefinite strike by the National Teachers Union that began June 1. Over the years, the movement has learned to temper its expectations. In 2011 — when protests were last at a peak — many thought change was imminent, only to suffer frustration and loss of momentum in the years that followed.

Challenging Germany, Leading Italian Politician Calls For Euro Exit

July 24, 2015 Stephanie Kirchgaessner, www.theguardian.com Resist! Austerity, Europe, Germany, Italy

By Stephanie Kirchgaessner in The Guardian - The populist leader of Italy’s second largest political party has called for the nationalisation of Italian banks and exit from the euro, and said the country should prepare to use its “enormous debt” as a weapon against Germany. Former comedian-turned-politician Beppe Grillo, who transformed Italian politicswhen he launched his anti-establishment Five Star Movement in 2009, has long been a bombastic critic of the euro. But his stance hardened significantly in ablogpost on Thursday in which he compared the Greek bailout negotiations to “explicit nazism”. Grillo constructed what he called a “Plan B” for Italy, which he said needed to heed the lessons ofGreece so that it was ready “when the debtors come round”. His plan called for Italy to adopt a clear anti-euro stance and to shake off its belief that – if forced to accept tough austerity – other “peripheral” countries would come to its aid.

Europe’s Vindictive Privatization Plan For Greece

July 23, 2015 Yanis Varoufakis, www.socialeurope.eu Create! Austerity, Europe, Germany, Greece, Imperialism, Politics

By Yanis Varoufakis in Social Europe - On July 12, the summit of eurozone leaders dictated its terms of surrender to Greek Prime Minister Alexis Tsipras, who, terrified by the alternatives, accepted all of them. One of those terms concerned the disposition of Greece’s remaining public assets. Eurozone leaders demanded that Greek public assets be transferred to a Treuhand-like fund – a fire-sale vehicle similar to the one used after the fall of the Berlin Wall to privatize quickly, at great financial loss, and with devastating effects on employment all of the vanishing East German state’s public property. This Greek Treuhand would be based in – wait for it – Luxembourg, and would be run by an outfit overseen by Germany’s finance minister, Wolfgang Schäuble, the author of the scheme. It would complete the fire sales within three years. But, whereas the work of the original Treuhand was accompanied by massive West German investment in infrastructure and large-scale social transfers to the East German population, the people of Greece would receive no corresponding benefit of any sort.

Newsletter – Culture Of Deception

July 18, 2015 Margaret Fowers and Kevin Zeese, www.popularresistance.org Newsletter Austerity, Black Lives Matter (BLM), Climate Change, FERC, Greece, Indigenous Rights, Propaganda, Puerto Rico, TISA, TPP, TTIP

By Margaret Flowers and Kevin Zeese. A recent report by the Union of Concerned Scientists, "The Climate Deception Dossiers," proves that the corporations which profit from the burning of fossil fuels knew about global warming decades ago, knew their industries contributed to it and responded by funding propaganda to deny global warming and pushing policies that increased their profits at the expense of a livable future. In "We are all Greeks Now," Chris Hedges connects corporate capitalism to the many crises we face. He writes, "Corporate profit is God. It does not matter who suffers." When profit is worshiped, truth is sacrificed and all manner of deception is justified."

Germans Protest In 14 Cities Against Merkel’s Stance On Greece

July 18, 2015 Gregory Pappas, www.pappaspost.com Resist! Austerity, Europe, Germnay, Greece

By Gregory Pappas in Pappas Post - Germans, angry at their government’s handling of Greek debt negotiations and what they perceive to be unfair treatment against Greece, have organized demonstrations in 14 German cities, including a large one outside the German finance ministry in Berlin— seat of Dr. Wolgang Schauble. Protesters have vowed to continue demonstrations, with protests set to take place outside the German Parliament and again at the finance ministry in Berlin every Wednesday, aiming to share their opposition to their government’s treatment of Greece. “I’m furious with these criminals,” a Greek teacher who has lived in Germany all her life told the Guardian. “I don’t want my taxes supporting this criminal coup.” Hannah Eberle, spokeswoman for the movement organizing the protests in Germany, told Newsweek in an interviewthat Merkel’s government’s behavior has been undemocratic and aggressive.

TTIP Will Force All Europeans To Take Greece’s Medicine

July 17, 2015 John Hilary, www.politics.co.uk Educate! Austerity, Europe, Finance and the Economy, Free Trade, Greece, TTIP

By John Hilary in Politics - If the Greek crisis has shown how the institutions of the EU will stop at nothing to force through their own brand of capitalist discipline, TTIP is confirmation that we will all soon be tasting the same medicine. This week sees the 10th round of negotiations towards the Transatlantic Trade and Investment Partnership (TTIP), the controversial EU-US trade deal that threatens our jobs, our public services and our democracy itself. The talks come hot on the heels of last week's pro-TTIP vote in the European Parliament, where MEPs turned their backs on their electorate in favour of a deal that will benefit only big business and the banks. The European Parliament passed a resolution on July 8 giving the green light to the continuing TTIP negotiations, despite the fact that a record 2.3 million people from across the EU have now signed a European Citizens' Initiative rejecting the deal altogether.

Puerto Rican Plan To Make Workers Pay For The Island’s Debt Crisis

July 16, 2015 Rafael Azul, www.globalresearch.ca Educate! Austerity, Debt, Puerto Rico, Worker Rights and Jobs

By Rafael Azul in Global Research - Puerto Rico’s non-voting member of the US House of Representatives, Pedro Pierluisi of the pro-statehood New Progressive Party, is sponsoring a bill to grant Puerto Rico bankruptcy protection while it negotiates with its creditors and restructures its economy. The bill envisions a bankruptcy process for the island similar to that imposed on the city of Detroit in 2013. The House Judiciary Committee has sidelined Pierluisi’s bill. A statement issued jointly by the chairman of the committee, Bob Goodlate, and committee member Tom Marino, both Republicans, declared the general consensus on the committee to be that providing “Puerto Rico’s municipalities access to Chapter 9 of the Bankruptcy Code would not by itself solve Puerto Rico’s problems, which are associated with underlying structural problems.”

Grexit Or Jubilee? How Greek Debt Can Be Annulled

July 16, 2015 Ellen Brown, www.ellenbrown.com Educate! Austerity, Banking, Greece, Politics

By Ellen Brown - Greece’s creditors have finally brought the country to its knees, forcing President Alexis Tsipras to agree to austerity and privatization measures more severe than those overwhelmingly rejected by popular vote a week earlier. No write-down of Greece’s debt was included in the deal, although the IMF has warned that the current debt is unsustainable. Former Greek finance minister Yanis Varoufakis calls the deal “a new Versailles Treaty” and “the politics of humiliation.” Greek defense minister Panos Kammenos calls it a “coup d’état” done by “blackmailing the Greek prime minister with collapse of the banks and a complete haircut on deposits.” “Blackmail” is not too strong a word. The European Central Bank has turned off its liquidity tap for Greece’s banks, something all banks need, as explained earlier here. All banks are technically insolvent, lending money they don’t have. They don’t lend their deposits but create deposits when they make loans, as the Bank of England recently confirmed.

Understanding The Defeat Means Preparing A Victory

July 16, 2015 Transform Network, www.transform-network.net/ Educate! Austerity, Banking, Europe, Greece

By Transform Network - The Greek Dilemma and Us. Nine provisional considerations after both the popular Oxi and Syriza’s Yes to the Memorandum. This is being written after the vote in the Greek parliament and before the final decision of the Eurogroup. At the moment, everything is open, and we are certain of only a couple of things. Almost everything can change, but some things will remain true. The alternative of Grexit or a third Memorandum is not the same as reform or revolution; it is only a matter of the lack of alternatives dictated by the creditors. It corresponds to the relation of forces within Europe, which can at the moment only produce defeats. The blackmailing of Greece by the creditors leaves open two paths, both of which would be defeats. This is unavoidable.

Alexis Tsipras: Latest So-Called ‘Leftist’ To Sell-Out To The Bankers

July 16, 2015 Neil Clark, www.rt.com Educate! Austerity, Banking, Europe, Greece, Left

By Neil Clark in RT - For the so-called 'radical leftist' from Greece is only the latest in a long line of ‘radicals’ and 'leftists' to betray the people who had voted for them and cave into the demands of imperialist international finance capital. The only surprising thing about Alexis Tsipras' capitulation to the troika is that anyone should be surprised by it. In Britain, we had our own version of the Greek ‘crisis’ in 1931. And like today, it was a politician nominally of the ‘left,’ the Labour Party leader Ramsay Macdonald, who eventually sided with the bankers against ordinary working people. A ‘banker-led coup’ occurred that replaced the democratically elected Labour government with a new capital-approved National Government, which moved to introduce steep cuts in public spending and slashed unemployment pay.

Amid Protests Greece Passes Austerity Bailout

July 15, 2015 Helena Smith and Emma Graham-Harrison in Athens, Ben Quinn, Heather Stewart and Graeme Wearden Resist! Austerity, Bankers, European Union (EU), Finance and the Economy, Greece

By Helena Smith and Emma Graham-Harrison in Athens, Ben Quinn, Heather Stewart and Graeme Wearden for the Guardian - Five years into the worst crisis to hit their country in decades, Greek MPs voted by a large majority in the early hours of Thursday morning to accept draconian austerity as the price of further bailout funds but at great personal cost to prime minister Alexis Tsipras. In a vote that saw tensions soar in and outside parliament, the embattled leader’s radical leftist Syriza party suffered huge losses as 40 MPs revolted against the measures. A total of 229 lawmakers voted in favour of the internationally mandated measures, 64 against and six abstained.

SYRIZA Leaders Against The Coup

July 15, 2015 Syriza Central Committee Members, Translated Antonis Martalis, www.socialistworker.org Resist! Austerity, Europe, Greece, Syriza, Tsipras

By Syriza Central Committee Members, Translated by Antonis Martalis in Socialist Worker - The agreement with the "institutions" was the result of the blackmailing of the country through economic strangulation. It is a new Memorandum, with onerous and humiliating terms of supervision, disastrous for the country and our people. We realize that suffocating pressure was put on the Greek side in the negotiations, but nevertheless, we believe that the people's proud "no" vote in the referendum must forbid the government from succumbing to the extortionate ultimatums of the creditors. This agreement is not compatible with the ideas and the principles of the left. But most importantly, it is not compatible with the needs of the working class and the popular masses. This proposal cannot be accepted by the members and the cadres of SYRIZA. We ask for the Central Committee to convene immediately, and we call on the members, cadres and members of parliament of SYRIZA to stand for the unity of the party on the basis of our Congress decisions and our programmatic commitments.

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