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Tag: Troika

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


German TV Sensationalized Greek Minister’s Flipped Bird, Says Cameraman

German media pounced this week on footage of Greek Finance Minister Yanis Varoufakis raising a middle finger for foreign debt managers during a presentation on his country’s debt crisis. The man who filmed the talk says the clip was taken out of context to divert public attention from the substance of the crisis.

Posted on Mar 18, 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



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



Is Syriza in Retreat?

Greece’s anti-austerity party has declared itself willing to sign the leaked “Moscovici document,” which a central committee member says defangs the Greek government in its struggle against its creditors.

Posted on Feb 19, 2015 READ MORE



Greece’s Economy Looks Like Germany’s After World War I

“Austerity”—the redirection of funds away from government and public services and toward a country’s creditors—“has devastated Greece just about as much as defeat in total war devastated imperial Germany,” economist Paul Krugman writes in The New York Times.

Posted on Feb 16, 2015 READ MORE



Why Ireland’s Political Elite Are Terrified of Syriza

Irish leaders—eager to maintain that compliance with the demands of international creditors after the 2008 crisis was the best choice for Ireland—are concerned that the defiant tactics of Greece’s newly elected Syriza party may expose their program as flawed if Syriza wins concessions from the troika of lenders.

Posted on Feb 2, 2015 READ MORE



EU Showdown: Greece Takes on the Vampire Squid

The Greeks have been threatened by the European financial troika with a “Cyprus-Style prolonged bank holiday” if they “vote wrong” in an upcoming presidential election that looks likely to favor the EU-skeptic, anti-austerity, leftist Syriza party. But they have been bullied for too long and are saying “no more.”

Posted on Jan 10, 2015 READ MORE



AP/Kostas Tsironis

Ignoring the Social Costs of Austerity Is Dangerous for Greek Leaders

The financial governing authorities classed as the “troika” are obsessed with budget targets rather than human needs, and needs are what protests underway in Greece on Tuesday are all about, writes Helena Smith, Greek correspondent for The Guardian.

Posted on Jul 16, 2013 READ MORE



archer10 (Dennis) (CC BY-SA 2.0)

Hell on Earth for Greeks

Greek victims of austerity are increasingly being forced to sell their bodies for cheap in horrific squalor and to escape painful reality with a new street drug.

Posted on May 22, 2013 READ MORE


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