Europe ready to kill Greece to keep TINA alive

My latest piece on Greece was published yesterday at Ricochet. In short, Europe and the IMF’s message that ‘there still is no alternative’ proves that objective of punitive austerity is political, not economic. Here it is in full:

The project’s aim is to make an example of Greece and solidify austerity as the only option within a Europe united by elite interests. Emergency summits, duelling proposals, trickles of banking system support and stern warnings create an economic veneer to paper over ultimately political aims.

Take the latest “compromise” proposal made yesterday by Greece’s ruling party Syriza. It offers a whopping additional €8 billion in austerity measures over the next year and a half. These measures amount to 1.5 per cent of GDP in 2015 and nearly 3 per cent of GDP in 2016. Rather than a compact for growth, or even stability, Europe has squeezed out yet more painful austerity that will make it much harder for Greece to escape its 21st-century Great Depression.

It is “not the right moment” to discuss debt relief, Jean-Claude Juncker, the head of the EU Commission, was quoted saying, despite the increasing concessions. This is the political, not economic, function of the Greek debt. It’s not the right moment economically to discuss the debt because Greece has long been insolvent, its debt repayments kept on track by drip-fed funding via subsequent agreements of austerity. Politically, it’s never the right moment, because each new agreement maintains austerity as the only possible option. (more…)

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Solving Christmas conundrums with New Year’s resolutions

I know I promised to not post until the New Year. Clearly the holidays have gotten the better of me. This, however, will be a short reflection and at once a New Year’s resolution.

Christmas is a time of large get-togethers for my family and this year was no different.  We feasted late into the night on Christmas Eve and again on Christmas Day. Both nights the talk at the table inevitably turned to politics.

The range of economic, social and political problems identified during our meals would make any left-wing activist squirm in her seat with glee. A dearth of good jobs, runaway inequality, corporate control of politics, rampant consumerism, housing unaffordability, environmental degradation, climate change – these and more like them were raised many times over and by different people. Indeed, there was broad agreement at both feast-tables that we are in the midst of a systemic crisis.

At this point, you would expect the token lefty writer and activist (me) to easily leap up onto the table, make a rousing speech and lead a rabble in its Sunday best to take over the nearest bank, corporate office or shopping mall armed with borscht spoons and pierogis…or, at least, to get widespread agreement among those at the table that the only sensible way forward is a strong left-wing program – one best able to address the concerns raised.

Sadly, nothing like the latter took place (nor the former in case you’ve been holding your breath). (more…)

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