More debt agreed on exacerbates an out-of-control problem. Only its final resolution is delayed. The longer crisis conditions continue and grow, the worse they'll be when day of reckoning time arrives.
A deal doomed to fail.
Greece died months ago. Default is certain. Only its obituary hasn't appeared. Six possible sovereign defaults loom if contagion spreads out of control.
The “Outraged”: An Outrage Which Thrives on Illusions About Crisis, Democracy and the Market Economy
What makes the “outraged” think that by referring to themselves as ordinary people they have acquired something like an entitlement, a right that the authorities show them some consideration? And are the authorities really committing a violation if they redefine what it is to be an ordinary person? Because that is what is happening and that is what the “outraged” refuse to realize.
By Julie Hyland - WSWS
The European Conference Against Austerity in London last month was advanced as a means of “coordinating resistance” to the social impoverishment being implemented by governments across Europe, the International Monetary Fund and the European Union...In reality, the conference underscored how the various “activist” networks and the petty bourgeois ex-left groups have become completely integrated into the political structures of bourgeois rule.
Tens of Thousands Strike in Greece as Military Threatens to Intervene Against Anti-Austerity Protests
By Robert Stevens - 6 October 2011
Tens of thousands of workers, pensioners and youth protested throughout Greece Wednesday in a 24-hour public sector strike...The intervention of the army into the political life of Greece...must serve as a warning to the working class. Brigadier Stylianos Pattakos, the last surviving officer of the [1967-1974 military] junta, said last year, “In our time, there was no debt...The Greeks are not disciplined like the Germans or the British. They need authority.”
By David Walsh - 23 September 2011
Tens of thousands of Greek public transport workers, teachers, civil servants and air traffic controllers walked out Thursday to protest the latest round of austerity measures announced the day before by the PASOK government...Workers responded explosively to the deeply unpopular plan. In and around Athens, bus, subway, tram, electric rail and suburban rail workers walked off the job, joined by taxi owners.
By Barry Grey - 20 September 2011
Like a pack of wolves assembling for the kill, the global fraternity of bankers and speculators — whose semi-criminal operations precipitated the economic crisis and whose taxpayer bailouts bankrupted state treasuries — is now preparing to carve up Greece and turn the destruction of an entire society into a financial windfall for themselves.
By Edward S. Herman and David Peterson - September 04, 2011
On first reading George Monbiot's "Left and Libertarian Right Cohabit in the Weird World of the Genocide Belittlers," we drew up a list of his errors, misrepresentations, and regurgitations of party-line lies, so as to better equip ourselves to respond to his commentary. But as the original list kept growing each time we looked at his work, we soon realized that our list might be almost indefinitely expandable, depending on how finely we parsed his errors, and how much time we wanted to devote to the project.
By Peter Schwarz - WSWS
The transition of former liberals and pacifists into the imperialist war camp is so widespread that one cannot treat it as an individual phenomenon. Great social struggles often announce themselves through such political transformations. Political parties are preparing for the role they will play in future class struggles...It is mainly the representatives of well-off layers of the middle class who are bidding adieu to their former pacifist, liberal or “leftist” views.
By James Petras - Dissident Voice
The deepening economic crises in Europe and the United States are provoking contrasting socio-political responses from the working and middle classes...Rather than solidarity, the economic crisis highlights working class fragmentation, disunity and internal polarization.
By JEAN BRICMONT and DIANA JOHNSTONE - August 16, 2011
This little war in Libya is exposing NATO as both criminal and incompetent...It is also exposing the organized left in NATO countries as totally useless. There has perhaps never been a war easier to oppose. But the organized left in Europe is not opposing it...[T]he European left has missed its opportunity to come back to life by opposing one of the most blatantly inexcusable wars in history.
Saturday, August 13, 2011 - Workers Solidarity Movement (Ireland)
...George Orwell provided a useful general starting point for how anarchists view riots, writing..."I have no particular love for the idealised 'worker' as he appears in the bourgeois Communist's mind, but when I see an actual flesh-and-blood worker in conflict with his natural enemy, the policeman, I do not have to ask myself which side I am on." What happened in London and spread elsewhere was not some idealized glorious proletarian uprising, but the very real explosion of anger that occurs when years of poverty, police repression, and racism finally reach bursting point.
Friday, August 5, 2011 - Common Dream
Canada is worried that proposed European legislation would penalize imports of oil derived from its tar sands and so restrict access to the European market for Canadian oil. This might in turn embolden US legislators to do similar. To prevent this...Ottawa has been conducting an intensive lobbying campaign aimed at preventing the British government and the European commission from watering down the legislation.
By Deena Stryker - August 05, 2011
“We were told that if we refused the international community’s conditions, we would become the Cuba of the North. But if we had accepted, we would have become the Haiti of the North.”