Greek citizens are demonstrating in the streets today and tomorrow against the severe economic restrictions being forced on them by their government at the behest of the Eurozone, the European Central Bank and the International Monetary Fund.
The restrictions, say these leaders, are needed in order to stabilize and revitalize the Greek economy. They are also the price being forced on Greece as the condition for receiving bailouts needed to pay its creditors until the end of 2011. It is Greek citizens who are paying in higher taxes, loss of jobs and social safety nets.
But, as almost all independent economists and bankers say, Greece will default in any case - with or without bailouts.
Why? Because the Greek economy has not produced growth in many years and has, therefore, relied on borrowing to pay its ever-increasing bills, including its creditors and also its citizens in the form of social programs.
In any country in the world, when citizens are pushed to the wall, they rebel, demanding their rights as human beings. In democratic countries, the rebellion happens more quickly and governments respond more rapidly.
The Arab Spring revolts took longer because there was no democratic government. It had been replaced by dictators whose security forces terrorized their citizens.
In the Greek case, the terrorism is coming from outside, in the form of the IMF, the Euozone member states and the European Central Bank.
But, whatever form state terrorism takes, eventually it will cause a violent citizen reaction.
In Greece , the whole effort at state repression is meaningless because Greece will not be able to repay its new debts, any more than it could pay its old debts. Greece will default and leave the Eurozone. It is only a question of when.
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