Wednesday, July 22, 2015

Bad behaviour

So, who exactly are the baddies in the Greek debt crisis?

Slavoj Zizek, writing for the New Statesman, has pointed the finger at the EU for the "brutal extortionist pressure" it's applying to Greece, calling on the country and its governing party Syriza to remain courageous in the face of this pressure and to continue to question and challenge the "capitalist mechanics". As he implicitly acknowledges, though, that call may be in vain. Almost as soon as the Greek people had rejected a bailout deal in a referendum, Syriza agreed one that was arguably even more punitive, so it's questionable whether they really have the stomach for the fight.

Meanwhile, the Nation's Robert B. Reich has highlighted the typically unscrupulous role of investment banks, and Goldman Sachs in particular. He claims that these banks knowingly helped to exacerbate the crisis and in doing so have reaped huge profits at the expense of Greece, whose people are now suffering the brunt of the consequences. You could have guessed that they'd be implicated somewhere along the line.

(Thanks to Phil and Adam for the links.)

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