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A Modern Greek Tragedy Foretold

Bennet Baumer The Indypendent
Greece's former finance minister under the radical Syriza government offers a revealing tell-all about modern capitalism through his battles over Greece’s debt with the “Troika”: the International Monetary Fund, the European Commission and the European Central Bank (ECB), and eventually with his own prime minister.

The New Global Financial Cold War

Michael Hudson / Bonnie Faulkner CounterPunch
The world is being split into two halves: the U.S. dollar orbit, and countries that the U.S. cannot control and whose officials are not on the U.S. payroll, so to speak.

Thousands Reject the Extractivist Logic at the World Bank-IMF Meeting in Peru

Ashoka Jegroo Waging Nonviolence
While the international media focused on the official meetings, no news outlets outside of Latin America have mentioned the Plataforma Alternativa conference — a parallel three-day meeting organized under the theme “Belying the ‘Peruvian Miracle.’” More than 1,200 people attended Plataforma Alternativa’s conference. Participants represented dozens of organizations and diverse countries.

These Four Elections Could Decide the Future of Europe - A Coming Storm?

Conn Hallinan Foreign Policy in Focus
In upcoming votes for the European Union's most indebted countries, the left will have to battle both the forces of austerity and a resurgent xenophobic right. The backdrop for elections in Greece, Portugal, Spain, and Ireland is one of deep economic crisis originally ignited by the American financial collapse of 2007-08. The response of the EU is massive cutbacks in government spending, widespread layoffs, and double-digit tax hikes on consumers.

How Austerity Economics Is Fraying Europe's Social Contract

Conn Hallinan Foreign Policy in Focus
The EU's belt-tightening measures are cutting holes in Europe's social-safety net. Austerity as an economic strategy is more than just throwing a scare into countries that, exhausted by years of cutbacks and high unemployment, are thinking of changing course. It's laying the groundwork for the triumph of multinational corporate capitalism - undermining the social contract between labor and capital that's characterized much of Europe for the past two generations.

The Euro-Summit `Agreement' on Greece - Annotated by Yanis Varoufakis

Yanis Varoufakis Yanis Varoufakis - thoughts for the post-2008 world
The Euro Summit statement (or Terms of Greece's Surrender - as it will go down in history) follows, annotated by yours truly. The original text is untouched with my notes confined to square brackets (and in red). Read and weep.

What Was Good for Germany in 1953 is Good for Greece in 2015

Larry Elliott Economic editor The Guardian (UK)
Economic assistance under the Marshall plan was important to both countries, but it was the granting of debt relief that made a difference to the Germans. After World War II, Germany not only received direct transfers of money - aid through the Marshall plan. Far more important than the $1.4bn was the granting of debt relief at the London conference of 1953.

Preliminary Report of Greek Parliament Debt Truth Committee - Debt Cannot and Should Not Be Paid

Debt Truth Committee, Hellenic Parliament Committee for the Abolition of Third World Debt
The Hellenic Parliament established the Truth Committee on Public Debt mandating the investigation into the creation and growth of public debt, and the impact the conditionalities attached to the loans have had on the economy and the population. All the evidence we present shows Greece not only does not have the ability to pay this debt, but also should not pay this debt because the debt is a direct infringement on the fundamental human rights of the residents of Greece

Joseph Stiglitz, Thomas Piketty and Other World-Renowned Economists Demand End to Greek Austerity

Martin de Bourmont In These Times
26 top world economists say austerity is not working, won't and can't. The future of the EU is at stake in the negotiations between Greece and its creditor institutions, now close to a climax. To avoid failure, concessions will be needed from both sides. From the EU, forbearance and finance to promote structural reform and economic recovery, and to preserve the integrity of the Eurozone.

Europe at a Crossroads; Greece Puts Off IMF Payment; Call for Solidarity by European Left

Alex Tsipras Le Monde
Europe is at a crossroads..the decision is now not in the hands of the institutions...but rather in the hands of Europe's leaders. Which strategy will prevail? The one that calls for a Europe of solidarity, equality and democracy, or the one that calls for rupture and division? If some think or want to believe that this decision concerns only Greece, they are making a grave mistake. I would suggest that they re-read Hemingway's masterpiece, For Whom the Bell Tolls.
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