[lbo-talk] Forwarded without comment ...

dredmond at efn.org dredmond at efn.org
Tue Feb 16 19:12:09 PST 2010


On Tue, February 16, 2010 3:58 pm, Bhaskar Sunkara wrote:


> If shit hits the
> fan and the center-left can't impose austerity and there aren't forces
> strong enough to the left to really rock the boat and the country enters
> into another prolong period of chaos.... what happens? Chaos until the
> right wins a mandate in the next elections?

It's not "chaos", it's the refusal of the people of Greece to be the next Latvia, and sacrifice decades of social achievements on the blood-drenched altar of Euroliberalism.

Let's remember the history here: for the past 20 years, Greece, like Ireland, Spain and Portugal, were the model pupils of the Eurolib agenda of slashing the welfare state, privatizing everything in sight, and forcing the euro to be a one-austerity-to-rule-them-all currency. They got away with by buying off voters with speculative bubbles in real estate and housing. The whole thing was a smaller, localized version of the Wall Street mortgage bubble.

Now their lovely experiment has blown up in the Eurolibs' face. Greece *should* resist the insanity of slashing the budget deficit during a contraction, which will trigger a deflationary collapse, and then proceed to wreck the few remaining Eurobanks not already taken over by the EU governments.

-- DRR



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