It seems ironic that the cradle of democracy - Greece - is now governed by unelected technocrats from the IMF and ECB...not to mention the German Bundesbank. A sobering thought for all member countries of the Eurozone. And here is an interesting link re. Greek economic situation on Raj Patel's blog. A group of French intellectuals have launched a statement in support of the Greek people:
"At a time when one Greek youth out of two is unemployed. Where 25,000 homeless wander the streets of Athens. Where 30% of the population has fallen under the poverty line and where millions of families are forced to place their children in the care of someone else in order for them not to die of hunger or cold, where refugees and the new poor compete for trashcans at the public dump, the “saviors” of Greece, under the pretext that “Greece is not trying hard enough”, impose a new aid plan that doubles the lethal administered dose. A plan that abolishes the right to work and reduces the poor to the most extreme misery, at the same time as it makes the middle class disappear...."
http://www.egs.edu/faculty/alain-badiou/articles/save-the-greeks-from-their-saviors/
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And today's Paul Krugman blog : http://krugman.blogs.nytimes.com/2012/03/05/things-that-may-be-easier-to-write-if-youre-named-wolfgang/
Things That May Be Easier to Write If You’re Named Wolfgang
Wolfgang Munchau in the FT:
"But there is no appetite for any of this in Germany. Instead, the Bundesbank prefers to solve the problem by addressing the funding side. Mr Weidmann proposed last week that Germany’s Target 2 claims should be securitised. Just think about this for a second. He demands contingent access to Greek and Spanish property and other assets to a value of €500bn in case the eurozone should collapse. He might as well have suggested sending in the Luftwaffe to solve the eurozone crisis."
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