For some time now social movements have expressed their support for Another Europe. Their almost unanimous support for a “NO” vote in the Greek referendum on the proposals of the Troika, says much about the repeatedly frustrated hopes of constructing a social Europe from below. Indeed, the protests against austerity have established, ever more clearly and explicitly, that the evolution of …
China’s share plunge casts lengthening shadow over global markets By Nick Beams
Global stock exchanges appear to have weathered the initial shock wave from the powerful “no” vote in the Greek referendum, largely in the belief that the Syriza-led government is even more anxious to secure an agreement with the European Union and the International Monetary Fund to impose austerity. At the same time, however, the financial markets could soon be hit …
On Brink of ‘Irreparable Split’ Between Rich and Poor Nations, European Leaders Scramble – Lauren McCauley
In the wake of Greece’s historic ‘No’ vote this weekend, European leaders are scrambling to cement a new deal after the resounding rejection of the austerity program that has heretofore dominated fiscal policy and conversation. European Parliament President Martin Schulz confirmed that Greek Prime Minister Alexis Tsipras will address parliament plenary on Wednesday morning. Tsipras is expected to put forth a new …
Financial Nonsense Overload – Dmitry Orlov
“Those whom the gods wish to destroy they first make mad” goes a quote wrongly attributed to Euripides. It seems to describe the current state of affairs with regard to the unfolding Greek imbroglio. It is a Greek tragedy all right: we have the various Eurocrats—elected, unelected, and soon-to-be-unelected—stumbling about the stage spewing forth fanciful nonsense, and we have the …
Greece and the Euro: Towards Financial Implosion By Prof Rodrigue Tremblay
In sowing the seeds of the Greek crisis, European politicians have made the same mistakes as American politicians before the financial and banking crisis of 2008-09, that is to say encourage excessive indebtedness of some economically weak countries with loan guarantees. What really created the conditions for a major financial and banking crisis in the U.S., starting in 1999 when …
Capitalism’s Self-Revealing Practices by NORMAN POLLACK
Don’t cry for me Argentina (although you might be next), because Greece is at the head of the line. Its mortal sin? Not only the billions owed international creditors, though that infuriates others in the European Union, the European Commission, and the IMF, all shock troops for global capitalism, behind which in each particular as well as the general framework …
GREECE’D: We Voted ‘No’ to slavery, but ‘Yes’ to our chains By Greg Palast
We Greeks have voted ‘No’ to slavery — but ‘Yes’ to our chains. Not surprisingly, by nearly two-to-one, Greeks have overwhelmingly rejected the cruel, economically bonkers “austerity” program required by the European Central Bank in return for an ECB loan to pay Greece’s creditors. In doing so, the Greek people overcame an unprecedented campaign of fear from the Greek and …
Nuland’s Nemesis: Will Greece Be Destroyed to Save Her From Russia, Like Ukraine? By John Helmer
A putsch in Athens to save allied Greece from enemy Russia is in preparation by the US and Germany, with backing from the non-taxpayers of Greece – the Greek oligarchs, Anglo-Greek shipowners, and the Greek Church. At the highest and lowest level of Greek government, and from Thessaloniki to Milvorni, all Greeks understand what is happening. Yesterday they voted overwhelmingly …
U.S. Dollar Substitute to Go Public on Oct 20th? BY KELLY BROWN
THE INTERNATIONAL MONETARY FUND IS ONE OF THE MOST SECRETIVE AND POWERFUL ORGANIZATIONS IN THE WORLD. They monitor the financial health of more than 185 countries… they establish global money rules… and provide “bail-out” assistance to bankrupt nations. And on Oct 20th of this year, the IMF is expected to announce a reserve currency alternative to the U.S. dollar, which …
Greece – Risk of False-flagging Greece into Submission and Chaos? By Peter Koenig
As we move closer to the 5 July referendum, it becomes clearer every day – Brussels, Washington and Berlin are waging an open “class war” against Greece, because the Greek people, the citizens of a sovereign country – the first democracy in Europe, the country that gave Europe her name – these people have had the audacity to democratically elect …