Looting Greece: A New Financial Imperialism Emerges - Tapa blanda

Sinopsis

Looting Greece examines how and why the party, which took power in January 2015 promising to end eliminate debt, end austerity, and return Greece to economic growth, ended up agreeing to a deal much worse than its political predecessors in 2010 and 2012. Greece’s debt crisis is primarily non-Greek in origin, and largely the consequence of the creation of the Euro and its monetary system. It is also non-governmental in origin, as Greek private debt was transferred into public debt after the crash of 2008-09 and the series of Troika debt restructuring deals that followed. How the Euro Troika bureaucrats effectively subdued and conquered Greece economically, in the process destroying its democracy, is traced in a series of articles written from February through August 2015 as the Troika and the Greek government negotiated over debt and austerity. Why the Troika set out to destroy Greece's ruling party, and how that party ended up destroying itself are discussed, as well as how the respective strategies and tactics of both parties resulted in a final agreement in August 2015, which was not only worse in austerity terms compared to previous deals, but established new arrangements for ensuring debt repayment that are unique to recent debt deal restructuring. Placing the Greek events of 2015 in broader historical perspective, the book argues a radical new neoliberal initiative in Europe has emerged: in the 2015 debt deal the Troika will now directly manage Greece’s economy: running its banks, writing Greece’s budget, vetting and replacing government ministers, exercising veto rights over Greece’s parliament and Executive agencies, dictating its taxes, and implanting ‘Troika Commissars’ to watch over and approve day to day decisions of Greek government at all levels. Looting Greece explains how a new kind of financial imperialism is emerging in Greece, Europe’s periphery, and soon elsewhere.

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