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October 8, 2015
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By Gary Giddins and Scott DeVeaux

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Tag: Austerity

Sonali Kolhatkar in L.A. Times on Turmoil at KPFK Pacifica Radio: ‘A Micro-Version of Greece’

If management at KPFK Pacifica Radio were to pick a comparison inspired by recent world events to illustrate the current status of their operation, they probably wouldn’t settle on Greece. But that’s just the route that an op-ed article by Sonali Kolhatkar took.

Posted on Sep 24, 2015 READ MORE

Looks Like Greece’s Progressive Syriza Party Has Been Elected … Again

Most of Sunday’s snap general election results are in—and it seems Syriza has claimed another important victory in Greece and Alexis Tspiras will continue to lead the country.

Posted on Sep 20, 2015 READ MORE

Jeremy Corbyn Set to Become Leader of the U.K.’s Labour Party, Against Huge Odds

Long marginalized by his party’s establishment, the unlikely outsider is set to usher in a return to Labour’s more radical values.

Posted on Sep 11, 2015 READ MORE

Investors and Their Bankers Want Everything From Puerto Rico

Billionaire hedge fund managers have demanded that Puerto Rico lay off teachers, close schools, raise taxes, sell billions of dollars worth of public buildings and drastically cut public spending in order to repay loans and avoid financial default.

Posted on Jul 29, 2015 READ MORE

VIDEO: Civil Servants Want Greece to Leave the EU, ‘Which Is Like a Noose Strangling People’

As Greek lawmakers prepare to vote on EU austerity demands attached to a new bailout, civil servants announced a 24-hour strike, and hundreds of protesters gathered in Athens to show their opposition to the terms.

Posted on Jul 15, 2015 READ MORE

The IMF Gets Behind Greece With Debt Relief Demand

In a move that looks at once like a boost for Greece’s economic cause and grounds for further complication among eurozone member countries, the International Monetary Fund on Tuesday warned that it might pull its support for the proposed bailout plan unless other nations agree to whittle down some of Greece’s debt.

Posted on Jul 14, 2015 READ MORE

Tsipras Pushes Greeks to Take Bailout Deal

Greece’s Prime Minister Alexis Tsipras on Tuesday continued the diplomatic high-wire act that his country’s economic crisis has obliged him to attempt by working hard to persuade members of the Greek Parliament and the general population to accept the bailout package he was just offered in Brussels.

Posted on Jul 14, 2015 READ MORE

We Are All Greeks Now

What is happening in Greece in the name of austerity has already happened to the poor and the working class in the United States. If the global financial elites continue in power, the misery of the Greeks will become our own.

Posted on Jul 12, 2015 READ MORE

AUDIO: ‘Left, Right & Center’: Greece, Hacks and Trump on Top

Truthdig Editor-in-Chief Robert Scheer and the other “Left, Right & Center” panelists discuss Greece’s pursuit of another bailout from the EU, two major security breaches of U.S. government databases and whether Donald Trump could win America’s Latino vote.

Posted on Jul 11, 2015 READ MORE

VIDEO: Tsipras Permitted Untold Damage to Be Done to the Greek Economy for Nothing

“There is no end in sight to the suffering of the Greek people,” writes Guardian editor Larry Elliott following the prime minister’s capitulation to European demands.

Posted on Jul 10, 2015 READ MORE

Why the Greek Victory Inspires Us

While Greece is not the first country to defy the IMF’s prescriptions, it is uniquely poised to underscore, once and for all, capitalism’s incompatibility with democracy.

Posted on Jul 9, 2015 READ MORE

There Will Be Blood

Posted on Jul 8, 2015 READ MORE

The Greek Crisis Marks ‘the Beginning of the Collapse of Capitalism’

Missing from the mainstream debate over the Greek economic crisis is “the damaging role that the endless quest for economic growth plays,” writes journalist Jennifer Hinton at The Guardian.

Posted on Jul 8, 2015 READ MORE

World Leaders Huddle, Haggle Over Greece’s Future

Aside from monetary considerations, time is clearly the most important commodity in the ongoing crunch sessions between Greek and European leaders as they hash out a potential rescue strategy to keep Greece in the eurozone and out of financial free fall.

Posted on Jul 7, 2015 READ MORE

Is Greece’s ‘No’ on the Debt Referendum Another Youth Revolution?

In the past five years, the old political categories—left, right, center or capitalist and socialist—have been challenged by a new category: youth.

Posted on Jul 6, 2015 READ MORE

Greek Voters Send Decisive Message to European Leaders: No Deal (Updated)

If there was any lingering question about where the majority of Greeks stood on the deal drummed up by European creditors to try to contain Greece’s ongoing financial crisis, Sunday’s referendum on the bailout package soundly dispelled it.

Posted on Jul 5, 2015 READ MORE

VIDEO: Chomsky on Greece: A ‘Savage Response’ for Standing Up to Austerity ‘Class War’

In an interview for “Democracy Now!” Noam Chomsky comments on the challenges faced by Greece’s leading party, Syriza.

Posted on Jul 1, 2015 READ MORE

Don’t Cry for Greece—Argentina Sets the Example for Surviving After Default

In Argentina, there’s a name for what Germany and other troika members who’ve attempted to profit from Greece’s austerity-induced suffering have become: “buitres,” the Spanish word for vultures.

Posted on Jul 1, 2015 READ MORE

Economists Krugman and Stiglitz on Why Greeks Should Vote ‘No’ on the Referendum

Nobel Prize-winning economists Joseph Stiglitz and Paul Krugman maintain that Greece must keep going it alone and vote “no” on the upcoming referendum on the bailout.

Posted on Jun 30, 2015 READ MORE

Joseph Stiglitz, Thomas Piketty and Other Renowned Economists Demand an End to Greek Austerity

Twenty-six of the world’s most distinguished economic minds proclaimed their solidarity with Greece’s ruling anti-austerity party in an essay published in the Financial Times in early June.

Posted on Jun 12, 2015 READ MORE

Iceland Jailed Bankers and Rejected Austerity—and It’s Been a Success

Iceland’s insistence on following a different drummer after the global economic collapse is evidence that a more ethical approach can work.

Posted on Jun 11, 2015 READ MORE

A Magical Mystery Tour of American Austerity Politics

Numerous cities and school districts in Michigan are now run by single, state-appointed technocrats. This arrangement not only strips residents of their local voting rights but also gives appointees of the state’s austerity-promoting governor the power to do just about anything, including dissolve the cities themselves, all in the name of “fiscal responsibility.”

Posted on Jun 10, 2015 READ MORE

Look What Austerity Does to a Child’s Brain

The stressful conditions of poverty—“overcrowding, noise, substandard housing, separation from parent(s), exposure to violence, family turmoil”—can permanently diminish the ability to think clearly and calmly.

Posted on Jun 7, 2015 READ MORE

Five More Years of Tory Government: What Fresh Hell Is This?

Now free to pursue a radical agenda, David Cameron will lead Britain even further down the murky path of austerity, privatization, increased surveillance and jingoism.

Posted on May 8, 2015 READ MORE

Greek Finance Minister Says Austerity Is Bad Medicine

Greece’s new left-wing, anti-austerity Syriza Party raises concerns over international creditors’ demands to restructure the country’s labor market and curtail its pension system in exchange for a new package of bailout funds scheduled for release Friday. Greek Finance Minister Yanis Varoufakis speaks with “Democracy Now!”

Posted on Apr 22, 2015 READ MORE

442 Mental Health Experts Call for an End to Austerity

Austerity cuts and “neoliberal thinking” among policymakers are having a “profoundly disturbing” effect on Britons’ psychological and emotional well-being, say hundreds of counselors, psychotherapists and academics in a letter to The Guardian.

Posted on Apr 19, 2015 READ MORE

Greece Submits Reform Proposals and Warnings to Eurozone Creditors

Their country would stop cooperating with creditors if negotiations failed and aid was not forthcoming, government leaders said as they submitted a long-awaited list of 18 policy reforms to eurozone administrators.

Posted on Mar 28, 2015 READ MORE

House Republicans Approve $5 Trillion in Budget Cuts

House Republicans on Wednesday night passed a budget that eliminates nearly $5 trillion from social welfare programs over the next decade and envisions regressive tax reforms and calls for the repeal of President Obama’s health care law.

Posted on Mar 26, 2015 READ MORE

Brain Drain Is Crippling Eastern Europe

Ivan Krastev, chairman of the Center for Liberal Strategies in Sofia, Bulgaria, notes that economic austerity is driving away his country’s best and brightest.

Posted on Mar 25, 2015 READ MORE

Protesters Assail Austerity Policies at Madrid ‘Dignity March’

Thousands took part in a “march for dignity” and against austerity measures in Madrid on Saturday on the eve of a closely watched regional election in southern Spain.

Posted on Mar 22, 2015 READ MORE

In Germany, Dozens Wounded and Police Cars Set Afire in Anti-Austerity Protests

Thousands participated in anti-austerity “Blockupy” demonstrations that turned violent outside the opening of the new headquarters of the European Central Bank in Frankfurt, Germany.

Posted on Mar 20, 2015 READ MORE

Ukrainian President: Enormous IMF Loan Won’t Help Ordinary Ukrainians

Petro Poroshenko admits that a $17.5 billion International Monetary Fund loan and its associated austerity measures won’t improve the lives of ordinary Ukrainians—but will help pay foreign creditors and fund the country’s ongoing civil war.

Posted on Mar 15, 2015 READ MORE

Addressing the Senate, an Anti-Austerity Economist Criticizes U.S. Budget Policy

There is much confusion, politically sown, about what debt is, what it does and what it costs. This includes the false ideas that the government deficit is unsustainable, that “entitlements” are bleeding us and that paying interest on the national debt displaces money that would otherwise be spent on public programs.

Posted on Mar 13, 2015 READ MORE

The Noose Around Greece: How Central Banks Harness Governments

It seems the European Central Bank has made good on a threat by Goldman Sachs to cut off liquidity to Greek banks in the event the nation elected an anti-austerity government.

Posted on Mar 11, 2015 READ MORE

Greece Can’t Do It Alone: Austerity Victims of the World, Unite!

For the anti-austerity struggle in Greece and elsewhere to become effective and sustainable, it must be raised from the national level to the international level.

Posted on Mar 6, 2015 READ MORE

Greek Finance Minister Varoufakis Wants Austerity ... for the Rich

“The finance ministers of Europe are not all in favor of balancing the budget if it has to be balanced by taxing the rich,” says economist Michael Hudson (not pictured) of the ongoing confrontation over the Greek debt crisis.

Posted on Feb 25, 2015 READ MORE

Europe’s Millennials ‘Suffered Disproportionately’ From the Financial Crisis and Austerity

Europe’s youths have shifted their views and feel increasingly powerless to effect change. In a world filled with so much socio-economic instability, can we blame them?

Posted on Feb 25, 2015 READ MORE

Scourge of the Greeks: German Finance Minister Wolfgang Schauble

After the financial troika triumphed over the Greek government in debt negotiations last week, Germany’s veteran minister “indulged himself with some patronizing comments,” observed economics correspondent Phillip Inman at The Guardian.

Posted on Feb 22, 2015 READ MORE

Can the Greek Tragedy Be Rewritten?

The world is watching to see if the anti-austerity party Syriza can turn things around for Greece. Success may inspire hope in the economically desperate across the globe—and fear among the elites.

Posted on Feb 19, 2015 READ MORE

From ‘Demos’ to ‘Podemos’: Popular Uprisings in Greece and Spain

Like Greece, Spain has been wracked by the global recession and could soon elect an anti-austerity government.

Posted on Feb 18, 2015 READ MORE

Kostas Koutsaftikis /

The Pro-Workers, Pro-Growth Experiment in Greece Is Under Threat

While the wealthiest 85 individuals on the planet own more wealth than the bottom half of the world’s population—and when the top 1 percent will soon own more wealth than the bottom 99 percent—the people of Greece and the anti-austerity party, Syriza, they elected to lead them are struggling to rebuild their economy so that ordinary people there can live with a shred of dignity and security.

Posted on Feb 18, 2015 READ MORE

How Germany and the U.K. Benefited From Greece and Spain’s Brain Drain

As Greece tries to come to an “honorable agreement” with austerity-loving eurozone finance ministers, let’s not forget who stood to gain the most from the financial crises in southern Europe.

Posted on Feb 17, 2015 READ MORE

Austerity’s Greek Death Toll: Study Connects Strict Measures to Rise in Suicides

The harsh economic policies implemented in Greece and other countries in recent years have been shown to have a detrimental effect on mental health and well-being.

Posted on Feb 4, 2015 READ MORE

Truthdigger of the Week: Yanis Varoufakis

The Syriza finance minister confirmed his party’s intentions to fight EU oppression by refusing to negotiate with representatives of Greece’s “hated troika of lenders.”

Posted on Jan 31, 2015 READ MORE

Trojan Hearse: Greek Elections and the Euro Leper Colony

Alexis Tsipras, the leader of Syriza, would like to pretend that austerity and the euro are two different things. Apparently, he’s blissfully ignorant of the history of the euro. The horror of austerity is not the consequence of Greek profligacy: It was designed into the euro’s plan from the beginning.

Posted on Jan 29, 2015 READ MORE

360b /

Enough of Germany’s Tyrannical Austerity

Years of trudging through an economic slough of despond, guarded by German warders, have left the states of the European Union’s south near to despair.

Posted on Jan 27, 2015 READ MORE

Russell Brand on the ‘Greek Revolution Against Corruption’ and the Fall of Capitalism

The host of the YouTube series “The Trews” takes a look at Syriza’s victory in Greece’s recent elections and considers whether capitalism has “finally crumbled.”

Posted on Jan 27, 2015 READ MORE

AP/Petros Giannakouris

A 21st Century Left Rises: Syriza’s Victory and Its Relevance for the U.S. and the World

A question looms large in the wake of the Greek elections: Can democracy defeat the rule of the 1 percent?

Posted on Jan 27, 2015 READ MORE

Greeks Respond to Syriza’s Election Victory

Voters across Athens, from Golden Dawn diehards to pragmatic communists, shared their thoughts and feelings as Greece’s anti-austerity Syriza party swept to victory in Sunday’s elections.

Posted on Jan 26, 2015 READ MORE

‘We Are Going to Destroy the Greek Oligarchy System’

Yanis Varoufakis, tipped to become finance minister of what may become Greece’s leading party, describes what Syriza will do if it takes power.

Posted on Jan 25, 2015 READ MORE

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