The rise of Europe’s new Left.
By Bryan Evans
Filed under: Europe, Socialism Tagged: Austerity, Europe, Eurozone Crisis, Greece, Podemos, Spain, Syriza
Filed under: Austerity Tagged: Austerity, Eurozone Crisis, Greece, neoliberalism
Germany’s sickly economy | Europe’s World.
Filed under: Austerity, Eurozone crisis Tagged: Eurozone Crisis, German Economy, Germany
Varoufakis Keeps Greece in the Eurozone, by its Fingernails » CounterPunch: Tells the Facts, Names the Names.
It’s not easy to negotiate with a gun to your head. Nevertheless, that’s the situation Greek finance minister Yanis Varoufakis found himself in on Friday preceding a crucial meeting with the Eurogroup. According to one report, the objective of the last-ditch confab “was to prepare a consensus text that would be the basis for the discussion” with the EU’s finance ministers. That might sound innocent enough, but it doesn’t come close to explaining the real purpose of the meeting which was far more sinister. Check out this blurb from Costas (Read more…)
Reading The Greek Deal Correctly. James K. Galbraith
On Friday as news of the Brussels deal came through, Germany claimed victory and it is no surprise that most of the working press bought the claim. They have high authorities to quote and to rely on. Thus from London The Independent reported:
several analysts agreed that the results of the talks amounted to a humiliating defeat for Greece.
No details followed, the analysts were unnamed, and their affiliations went unstated – although further down two were quoted and both work for banks. Many similar examples could be given, from both sides (Read more…)
How Greece Got Outmaneuvered – The New Yorker.
By John Cassidy
To the surprise of nobody except a few alarmists, the finance ministers of the European Union reached a deal with Greece on Friday, extending the country’s existing bailout until the early summer. Greece’s new left-wing Syriza government had been telling everyone for weeks that it wouldn’t agree to extend the bailout, and that it wanted a new loan agreement that freed its hands, which marks the deal as a capitulation by Syriza and a victory for Germany and the rest of the E.U. establishment.
Strictly speaking, though, the (Read more…)
Greek Bailout Extension Deal Represents a “Significant Retreat” by the European Authorities, CEPR Co-Director Says | Press Releases.
Washington, D.C.- A deal reached between the Greek government and European authorities represents a “significant retreat” by the so-called troika and “shows that their austerity program, which has failed miserably, is no longer politically enforceable,” Center for Economic and Policy Research (CEPR) Co-Director Mark Weisbrot said today.
Greek government officials reached a deal with European authorities earlier today to allow bailout funds to be extended to Greece for another four months. As The Guardian and other outlets have reported, the (Read more…)
Philip Inman – The Guardian
The rightwing orthodoxy that dominates thinking in Brussels has asserted itself over the hapless Greeks. A deal that allows the eurozone policymakers, the International Monetary Fund and the government of Athens to keep talking next week is the first stage in a clampdown on anti-austerity sentiment.
Eurozone chiefs strike deal to extend Greek bailout for four months
That much was clear from the statements coming out of Brussels, not least those from Wolfgang Schäuble, Germany’s veteran finance minister, who indulged himself with some patronising comments to show where the power lies. “Being in (Read more…)
Is Syriza Retreating? | Jacobin.
To use a worn-out cliché, “the times are critical.” In fact, they are more than just that: we are at the edge of a crucial temporal sequence. The whole endeavor of a Syriza government will be judged by its reaction to the unprecedented blackmail and ultimatums it is receiving from its tragically misnamed European “partners.”
And the news from the frontline is not pleasant. To be sure, it is very difficult to have a clear view of the current status of the negotiations — “negotiations” being a oxymoron given the (Read more…)
Syriza Holds Its Ground | Jacobin.
As the media and the Athens stock market (down 4 percent yesterday) had widely expected, yesterday’s finance ministers’ meeting ended in failure, perhaps even a momentous one.
The tone of the Greek government’s official communiqué, which the whole media were quick to pick up on, was very tough indeed: “‘Certain circles’ insistence that the new Greek government implement the Memorandum is absurd and unreasonable. The implementation of the Memorandum program was not on the table at the summit, and those who try to put it back there are wasting their time.”
The pro-worker, pro-growth experiment in Greece is under threat | Senator Bernie Sanders | Comment is free | The Guardian.
While the wealthiest 85 individuals on the planet own more wealth than the bottom half of the world’s population – and when the top 1% will soon own more wealth than the bottom 99% – the people of Greece and the anti-austerity party, Syriza, they elected to lead them are struggling to rebuild their economy so that ordinary people there can live with a shred of dignity and security.
But powerful international interests are putting the pro-growth, pro-worker experiment (Read more…)
Germany faces impossible choice as Greek austerity revolt spreads – Telegraph.
By Ambrose Evans-Pritchard
The political centre across southern Europe is disintegrating. Establishment parties of centre-left and centre-right – La Casta, as they say in Spain – have successively immolated themselves enforcing EMU debt-deflation.
Spain’s neo-Bolivarian Podemos party refuses to fade. It has endured crippling internal rifts. It has shrugged off hostile press coverage over financial ties to Venezuela. Nothing sticks.
The insurrectionists who came from nowhere last year – with Trotskyist roots and more radical views than those of Syriza in Greece – are pulling further ahead in (Read more…)
Filed under: Austerity, Europe, Eurozone crisis Tagged: Austerity, Eurozone Crisis, Podemos, Spain
Filed under: Austerity, Eurozone crisis Tagged: Eurozone Crisis, Germany, Greece, Syriza
The Associate Professor of Comparative Political Analysis at the Athens Panteion University’s Department of History and Political Science and author of In the Name of Social Democracy assesses Syriza’s journey to government.
No European country has been plunged so deep into crisis as Greece, which has experienced a situation analogous to that of the 1930s. If the images coming from Greece today don’t correspond to the 1930s picture of social carnage and extreme human suffering, it’s thanks to the Greek welfare state – which, so maligned by certain analysts, has in fact carried out its social-protection role (Read more…)
100,000 flock to Madrid for Podemos rally against austerity | World news | The Guardian.
los indignados – an impromptu revolt of thousands, camping out for weeks and rallying against a political establishment felt to be out of sync with the people.
On Saturday, up to 100,000 people again filled the square, determined to show the world that 2015 would be the year that the change demanded by the indignados would come about.
Less than a week after Greece elected an aggressively anti-austerity government, the leaders of Spain’s own insurgent force, Podemos (We Can), urged supporters to take to (Read more…)
Filed under: Austerity, Greece Tagged: Austerity, Eurozone Crisis, Greece, Syriza
The EU must face facts: austerity has failed Greece – Equal Times.
By Paul De Grauwe
The Greek debt crisis that erupted in 2010 is back, and again threatens the stability of the eurozone.
A piece of anti-austerity street art featuring the Dalton Brothers from the Belgian comic Lucky Luke is seen in the Exarchia area of central Athens.
That crisis was the result of two factors. First, an unbridled spending drift of both the private and the public sectors in Greece during the boom years of 2000-2010, which led to unsustainable large levels of debt.
Second, reckless (Read more…)
Since the beginning of the Eurozone crisis in 2008, most attention has been focused on the recurring and persistent struggles against ‘austerity’. Austerity, in this sense, refers to the politics of cutting public spending – primarily in the areas of social programs like unemployment benefits, disability benefits, ‘public goods’ such as legal aid programs, public housing, etc. – in order to bring down the deficit and service any outstanding debts. Insofar as the politics of austerity has been the product of elite dominated parties putting the squeeze on the public in order to pay for the socialization of private risk (Read more…)
The Eurozone’s ‘New Austerity Model’ » CounterPunch: Tells the Facts, Names the Names.
by Jack Rasmus
In the coming weeks and months, as the Eurozone economy weakens still further, it is likely that debates and splits within the Eurozone capitalist elites will continue to intensify.
The Eurozone economy has never really recovered from the 2008-09 financial crash and recession. Austerity policies—that played a major role in preventing a sustained Eurozone economic recovery for the past five years—are now evolving into still newer forms.
Events in the recent past in Spain, measures approved in just the past week by the newly (Read more…)
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