In a rather surprising turn of events today, the IMF has released a statement demanding debt relief for Greece. This vindicates Varoufakis’ position that Greek debt was unsustainable, positions the IMF against Germany and its allies, and finally brings the IMF into line with its own research – research that has been leaking out over … More IMF Demands Debt Relief for Greece
How Europe Played Greece.
Illegal, Illegitimate, Odious and Unsustainable Debt – Transform Network. Given the resounding victory for the ‘No’ campaign in the Greek referendum, it is of interest to take a look at the Syriza led debt audit published a few weeks ago.
Debt and Deficit as Shock Therapy » CounterPunch: Tells the Facts, Names the Names. When Naomi Klein published her ground-breaking book The Shock Doctrine (2007), which compellingly demonstrated how neoliberal policy makers take advantage of overwhelming crisis times to privatize public property and carry out austerity programs, most economists and media pundits scoffed at her arguments as … More Debt and Deficit as Shock Therapy » CounterPunch: Tells the Facts, Names the Names
While this was written by Cicero in 44 BCE, after the assassination of Caesar and a year before Antony had Cicero murdered, the sentiment can be heard in today’s Republicans–particularly those associated with the Tea Party. Any attempt at redistribution, according to Cicero, threatens the very foundation of the republic, which, he points out, was … More Debt and Democracy