-----Original Message----- From: [email protected] [mailto:[email protected]] On Behalf Of Michel Bauwens Sent: Monday, May 24, 2010 5:34 AM To: Peer-To-Peer Research List Cc: George Papanikolaou; Dafermos,George Subject: [p2p-research] john pilger on the greeks
via http://www.newstatesman.com/uk-politics/2010/05/greece-pilger-britain-imf The crisis that has led to Greece's "rescue" by European banks and the International Monetary Fund is the product of a grotesque financial system that itself is in crisis. Greece is a microcosm of a modern class war rarely reported as such, but waged with all the urgency of panic among the imperial rich. What makes Greece different is that it has experienced, within living memory, invasion, foreign occupation, military dictatorship and popular resistance. Ordinary people are not cowed by the corrupt corporatism that dominates the European Union. The right-wing government of Kostas Karamanlis that preceded the present Pasok (Labour) government of George Papandreou was described by the sociologist Jean Ziegler as "a machine for systematically pillaging the country's resources". Epic theft The machine had infamous friends. The US Federal Reserve board is investigating the role of Goldman Sachs, which gambled on the bankruptcy of Greece as public assets were sold off and its tax-evading rich deposited €360bn in Swiss banks. This haemorrhaging of capital continues with the approval of Europe's central banks and governments. At 11 per cent, Greece's budget deficit is no higher than America's. However, when the Papandreou government tried to borrow on the international capital market, it was effectively blocked by the US corporate ratings agencies, which "downgraded" Greek debt to "junk". These same agencies gave triple-A ratings to billions of dollars in so-called sub-prime mortgage securities and so precipitated the economic collapse in 2008. What has happened in Greece is theft on an epic, though not unfamiliar, scale. In Britain, the "rescue" of banks such as Northern Rock and the Royal Bank of Scotland has cost billions of pounds. Thanks to Gordon Brown and his passion for the avaricious instincts of the City, these gifts of public money were unconditional, and the bankers have continued to pay each other the booty they call bonuses and to spirit it away to tax havens. Under Britain's political monoculture, they can do as they wish. In the US, the situation is even more remarkable. As the investigative journalist David DeGraw has reported, the principal Wall Street banks that "destroyed the economy pay zero in taxes and get $33bn in refunds". In Greece, as in America and Britain, the ordinary people have been told they must repay the debts of the rich and powerful who incurred them. Jobs, pensions and public services are to be slashed and burned, with privateers put in charge. For the EU and the IMF, the opportunity presents to "change the culture" and to dismantle the social welfare of Greece, just as the IMF and the World Bank have "structurally adjusted" (impoverished and controlled) countries across the developing world. Greece is hated for the same reason Yugoslavia had to be destroyed physically behind a pretence of protecting the people of Kosovo. Most Greeks are employed by the state, and the young and the trade unions comprise a popular alliance that has not been pacified; the colonels' tanks on the campus of Athens University in 1967 remain a political spectre. Such resistance is anathema to Europe's central bankers and regarded as an obstruction to German capital's need to capture markets in the aftermath of Germany's troubled reunification. -- P2P Foundation: http://p2pfoundation.net - http://blog.p2pfoundation.net Connect: http://p2pfoundation.ning.com; Discuss: http://listcultures.org/mailman/listinfo/p2presearch_listcultures.org Updates: http://del.icio.us/mbauwens; http://friendfeed.com/mbauwens; http://twitter.com/mbauwens; http://www.facebook.com/mbauwens Think thank: http://www.asianforesightinstitute.org/index.php/eng/The-AFI
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