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Greece In Serious Economic Crisis

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There’s no denying the serious problem facing Greece, an and economic crisis that has affected it very much, in this regard, says Costas Douzinas (The Guardian), that not the slightest doubt, that both Papandreou and Karamanlis, the dominant political dynasties in the postwar Greece, have served the employment in the public sector for self-serving political patronage in the presentcontributing to increase the volume of debt monstrously. There is no doubt that a substanciosa tax evasion, corruption and cronyism have contributed significantly to the current troubles. But the remedy is much worse than the disease, and it will be funded, as always, by the usual victims: salaried workers, low-income farmers with subsistence crops and unemployed groups. In a broader horizon, Greece is becoming an experiment for the new phase of correction of course that neoliberalism proposes to make in the wake of the financial and economic crisis. Fiscal and tax measures of stability come to continue a set of avowed economic dogmas that, even if broken in 2008, still dominate the mental world of European political leaders.

The black magic of the financialization, deregulation, and privatization has theoretically been rejected by many of the faithful of the first hour, but still prevails in environments of a few elite business schools and the European Commission. In addition, says that Greece is in the eye of the hurricane from a speculative storm, according to Papandreou in his television appearance. . referring to the degradation of the credit rating Greek from three private companies valuation of risks any of which is subject to control or supervision of some and the consequent speculation on markets around the Greek public debt to finance the deficit, speculation that the Greek sovereign borrowing rates rose 4% above the base line. It’s a repetition intensified the attack launched by Soros against the British currency in 1992 (which led to the United Kingdom to its humiliating exit from the European exchange mechanism) and the attack of speculators to the British banking system in 2008.

Written by Minna

March 9th, 2019 at 1:56 pm

Posted in News

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