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By *Paul Kellogg* May 3, 2010 -- The bailout of the debt-ridden Greek government seems finally to be complete. The European Union (EU) – most centrally the French and German treasuries – along with the International Monetary Fund (IMF) will provide €110 billion ($150 billion) in emergency loans. The price for these loans will be high. Along with steep tax increases and cuts in spending, the loans are conditional on a public sector wage freeze being extended through to 2014.[1] This is in reality a wage cut, as there will be drastic changes to the so-called “bonuses” – holiday pay that has become an essential part of the income package of low-paid public sector workers. The anger at these cuts is everywhere in Greek society. Giorgos Papadapoulos is a 28-year-old policeman who normally confronts demonstrators. But in March he put aside his riot shield and joined the mass protests which have become a regular part of life in Greece. “It’s a different feeling for me”, he told journalists while he was on the demonstration. “But this is important. It hurts me and my family.”[2] However, the crisis in Greece has revealed not just a shift to the left in Europe. It has also brought to the surface a seamy reactionary underside to politics in the EU portion of the Eurasian landmass. Full article at http://links.org.au/node/1671 ********************************* Subscribe free to Links International Journal of Socialist Renewal at http://www.feedblitz.com/f/?Sub=343373 You can also follow Links on Twitter at http://twitter.com/LinksSocialism Or join the Links Facebook group at http://www.facebook.com/group.php?gid=10865397643 ________________________________________________ Send list submissions to: Marxism@lists.econ.utah.edu Set your options at: http://lists.econ.utah.edu/mailman/options/marxism/archive%40mail-archive.com
