From:   shaista husain <>
Sent time:   Sunday, November 06, 2011 3:10:05 PM
Subject:   SPAM-MED: Re: [september17discuss] Greek PM Papandreou resigns, forms coalition with conservatives, continues austerity

Thank you Doug, but even the most prolific defenders of capital and

writers are speaking about a possible imminent demise of the Eurozone,

Greece only happens to be the most rebellious at the moment (Portugal,

Spain, France are next) the other nations will be in the same

situation shortly. Here is an article by an ex Goldman Sack-head who

writes, "None of the austere budgetary plans which have been announced

during 2011 will achieve their fiscal targets in 2012 in the context

of the recessions which will probably be encountered by many

countries, and that includes France. There is no such thing as

“expansionary austerity”, certainly not in countries which cannot

devalue or reduce their long term interest rates. These countries are

now chasing their own tails.'.."

So wonder what this all entails?


On Sun, Nov 6, 2011 at 4:36 PM, Doug Singsen <> wrote:



> This was probably inevitable. All the Greek pro-capitalist parties have now

> merged, leaving the anticapitalist parties of the far left as the only

> political parties outside the "grand coalition" in favor of austerity. The

> anticapitalist parties have been key leaders in the fight against austerity

> and have now achieved unprecedented levels of popular support as a result.

> Papandreou's party, PASOK, is supposedly "socialist" but in fact has

> defended the interests of the bankers and speculators over those of Greek

> workers (much like the Democrats in the US). The whole point of slashing

> social services and laying off workers is to cut government expenses so they

> can pay back more of their loans to banks and speculators, whose high

> interest rates helped drive up the Greek debt in the first place. (The other

> major factors in the creation of massive Greek debt were the inability of

> Greek industry to compete with Germany and other European powers, the lack

> of monetary flexibility caused by Greece's entry into the Eurozone, and the

> economic collapse of 2008, which was also caused by the banks and

> speculators. The supposed "laziness" and "overspending" of the Greek

> government that the US media is always talking about are not the real

> economic causes of Greece's crisis, but rather are designed to distract

> attention away from the real causes, which all go back to the interests of

> the banks, international corporations, and speculators.) Unions, most of

> which had previously supported PASOK, are now in the process of breaking

> with PASOK and allying with the anticapitalist left.


> Doug