(This article was first published in June 2015 in the previous version of People’s Review. Due to an incident of hacking the old website was pulled down and we could only restore the old articles in this section)
The return of the IMF team to Washington DC has made the EU countries, especially Germany tighten the noose on the Syriza government of Greece that has usurped power by promising a drastic shift from the regime of liberalisation.
According to a report published in German newspaper Bild, the German government is in constant consultation with its counterparts, the other European monopoly capital hawks to ensure that any move made by the Syriza government in Greece conform the general standpoint of the finance capital regarding austerity and cuts. Any tryst of Athens to untoe the official line of EU imperialism will be dealt severely as per the German finance minister Wolfgang Schäuble.
The centre-left Syriza government is not only unable to resolve the economic crisis of the nation by rejecting the burden of debt imposed by the EU hawks on the Greek people, it is seeking to travel on two boats by pleasing the EU with conciliatory tone on one hand and by using hoodwinking rhetoric mongering tactics on another hand.
The Greece nation is at the brink of economic bankruptcy and the European Union is constantly pressurising the government of Athens to openly sell off the national assets to the predatory banks, an outcome of the monopoly finance capital system that has developed in the last one hundred years. The opposition of the Greek people, especially the working class and the youth to the austerity measures forced out one camp of EU lackeys out of power and replaced it with another lackey government wearing a socialist cloak.
Greece got into trouble because of the huge rise in private and public sector debt, which spiralled after the country’s EMU membership in 2001. During this period the foreign and national banks, the commanders of the monopoly capitalist system helped Greece fiddle the economic figures and lie about its debts. Though these lies helped Greece gain access to the cheap loans for a while, but in the long term, it created an incurable disease within the system. The loans that were taken by the Greek capitalists, super rich, bankers, and the politicians suddenly transformed into an albatross around the neck of the Greek people.
The loans funded during the boom season of the monopoly capitalist system turned into a nightmare during the crisis season, and the compulsions forced by the German and other EU nations, especially the ECB will turn the heat on the people. The Greek people will surely resist the attempts of any government; including the Social Democrat Syriza government to follow the course of extreme austerity to repay the debts and restructure the economy as per the order issued by Germany led EU imperialism. The EU hawks are scared to death of such a situation where a government publicly deny toeing its line and rejects any proposal to restructure its economy following the course of austerity and cuts. As any move by the Greek government to follow such a suit following the people’s movement will cause an epidemic of struggles against the liberalisation and austerity drive by the governments in EU countries, especially Spain, Portugal, etc and Eastern European nations whom the Germany led EU hawks wants to exploit to the extreme level to fill its coffer of greed.