De Griekse schuldencrisis nadert nu een climax, omdat Griekenland per 30 juni geacht wordt om bezuinigingen door te voeren om de schulden te betalen aan het IMF en de Europese Centrale Bank. In ruil krijgt Griekenland dan weer een lening van €7.2 miljard. De kapitalistische economie wordt meer en meer onbegrijpelijk, maar als Griekenland faalt om zijn schulden te betalen, dan schijnt het hele systeem in te storten. Omdat ik daar niets van begrijp, heb ik wat artikelen en YouTubes verzameld over deze dreigende ineenstorting van de Euro. En nu maar hopen dat het goed afloopt!
Ewald Engelen: Vijf jaar voorgelogen over Griekenland
Burgers van Nederland, vijf jaar lang bent u voorgelogen over de Griekse crisis. Vijf jaar lang hebben pers en politiek u steeds maar weer dezelfde halfwaarheden en leugens op de mouw gespeld (uitzonderingen daargelaten).
Syriza agrees to EU austerity measures
By Christoph Dreier
24 June 2015
New details were released on Tuesday on the Greek government’s proposal to its international creditors. The wide-ranging cuts go much further than all previous plans and will inevitably provoke strong social opposition.
The government, led by the Coalition of the Radical Left (Syriza), provided the heads of European Union (EU) governments with a list of proposed cuts on Monday evening to secure the last tranche of the bailout of €7.2 billion. Without this payout, the highly-indebted country is threatened with bankruptcy.
The proposals signify nothing less than Syriza’s capitulation before the EU. The Greek government has crossed all of the red lines it formulated when it took power, presenting a comprehensive austerity package which will worsen the already catastrophic social conditions in Greece.
The financial crisis in Greece and other eurozone countries has been dragging on for years. We take a closer look at how hard some countries were struck, and how they’re trying to get back into shape.
Greece’s economy has shrunk dramatically since 2008 – the year before the US financial crisis fully spilled over and inundated Europe. Indeed, the economic collapse paralyzed Athens’ economic output far more than that of the other euro members.
By 2010, the situation had gotten so dire that a total of five eurozone states had to seek help from the European Union: Greece, Ireland, Portugal, and Cyprus formally applied for bailout programs. They received loans from the EU, the European Central Bank (ECB) and the International Monetary Fund (IMF). In return, they agreed to implement austerity measures which were supervised by the creditors.
In December 2013, Ireland left the program, with Portugal following suit in May 2014.
While Brussels did throw Spain a liquidity lifeline in 2012 to help save its moribund banks, the southern European country never formally entered a bailout program, and was not subjected to external review of its finances by the IMF.
Today, Greece and Cyprus are the only countries still on financial life support.
What Pisses Me Off About Greece’s Debt Crisis duurt 12 minuten.
Gepubliceerd op 5 feb. 2015
Did you know: 80% of the bailout money went to European Union banks that were Greek bondholders, and not the Greek economy.
While the world’s media focuses on the bailout negotiations, a debt audit is underway to prove much of Greece’s debt illegitimate, illegal and odious
By Fanny Malinen
The world’s eyes are once more on Greece. I had the opportunity to visit Athens in mid-May, joining a knowledge exchange organised by the Political Economy Research Centre at Goldsmiths, University of London. The Greek government had just days before paid their international creditors with money from pension funds and other public organisations. There seemed little reason for optimism that the government would not give in to the pressure and accept the austerity that would come with the next debt payments.
The Debt Truth Committee published its first findings this week. ‘Greece not only does not have the ability to pay this debt, but also should not pay this debt, first and foremost because the debt emerging from the Troika’s arrangements is a direct infringement on the fundamental human rights of the residents of Greece,’ it states. ‘Hence, we came to the conclusion that Greece should not pay this debt because it is illegal, illegitimate, and odious.’
By Paul Craig Roberts
June 24, 2015 “Information Clearing House” – The Greek debt is unpayable. It is simply too large to be repaid. The austerity that the EU and IMF have imposed on Greece has worsened the problem by driving down the Greek economy, thus making the burden of the debt even heavier. Despite the obvious fact that the EU’s austerity policy is a failure and cannot succeed, the Greek “debt crisis” drama continues.
A solution was possible at the beginning of the “crisis” prior to the economy being driven down by austerity. The debt should have been written down to the amount that the Greek economy could service or pay. This traditional solution was unacceptable to creditors, to the EU, and to the European Central Bank. As I explained in my book, The Failure of Laissez Faire Capitalism (Clarity Press, 2013), Greece’s creditors, the EU and the European Central Bank have agendas unrelated to Greece’s ability to pay. The creditors are determined to establish the principle that they can over-lend to a country and force the country to pay by selling public assets and cutting pensions and social services of citizens. The creditor banks then profit by financing the privatization of public assets to favored customers. The agenda of the EU and the central bank is to terminate the fiscal independence of EU member states by turning tax and budget policy over to the EU itself.
In other words, the Greek “sovereign debt crisis” is being used to create a precedent that will apply to every EU member government. The member states will cease to exist as sovereign states. Sovereignty will rest in the EU. The measures that Germany and France are supporting will in the end terminate their own sovereignty, very little of which actually remains as they do not have their own currency and their foreign policy is subservient to Washington.
Default and a turn to Russia is the only possible way out for Greece. The entire world would benefit from this course of action as Greece’s departure from the EU and NATO would begin the unraveling of NATO, Washington’s principal mechanism for creating conflict with Russia. In the end, all of Europe and the rest of the world would thank Greece for derailing the violence that will result from Washington’s effort to assert hegemony over Russia.
Greece under NATO pressure not to reduce military budget amid crisis
Russia, Greece sign €2bn deal on Turkish Stream gas pipeline
By Costas Lapavitsas
June 26, 2015 “Information Clearing House” – “The Guardian” – A few days ago the Greek government submitted a list of proposals hoping to break the deadlock with the “institutions” – the European Commission, the International Monetary Fund and the European Central Bank. The government basically agreed to tough primary surpluses: 1% in 2015 and 2% in 2016. To achieve these targets it proposed to raise VAT on a range of widely consumed goods as well as imposing a host of taxes on enterprises and families of “high” income. It also proposed substantial savings on pensions. The measures added up to roughly €8bn over 2015-16, and would be immediately implemented.
The package is certainly deflationary at a moment when the Greek economy is again on the threshold of recession. There is little doubt that it would contribute to output contraction and higher unemployment in 2015-16, particularly as there is little prospect of being offset by an investment programme funded by the EU. It is a major retreat by the government of Syriza.
By Peter Koenig
June 26, 2015 “Information Clearing House” – What the troika is doing to Greece these days is the pinnacle of financial terrorism. It is economic waterboarding. It is blackmailing of the first degree. These people are neoliberal fascists, putting the Greek government before a dilemma – ‘either you present us with an acceptable list of austerities, or we will prepare one for you’ – literally. An austerity plan you better accept, lest you may default and being expulsed from the European monetary union and maybe even the EU. That is their threat. That is what Brussels does to a brother; to one of theirs. There is not a shred of solidarity left in this miss-called ‘Union’. This ‘Union’ doesn’t deserve existing.
‘No-Solidarity’ is the brand mark of Europe. It is depicted all over the map. Another glaring example is the EUs refusal to aid the trans-Mediterranean refugees, the victims of wars and conflicts inspired by Washington and carried out in full complicity with Europe – Libya, Syria, Sudan, Iraq, Egypt, Somalia, Central Africa, Yemen – and more.
In Greece the troika is applying a strategy of ‘reverse objectives’. The EU does not want Greece or any other member, no matter how weak economically, to leave the Eurozone. A Grexit may risk causing a chain reaction. By threatening to expulse they are inciting Greece to beg for mercy.
CrossTalk: Greek pain duurt 24 minuten.