Geography Archives: Greece

  • Jamaica Remains Buried Under a Mountain of Debt, Despite Restructuring

    As the eurozone authorities move closer to accepting the inevitable Greek debt default/restructuring, there are some who have pointed to the Jamaican debt restructuring of last year as a model.  It’s hard to imagine a worse disaster for Greece.  It is worth a closer look at what has been done to Jamaica, not only as […]

  • From Economic to Social Crisis: Deficits, Debt, and a Little Class History

    Throughout its history, capitalism never succeeded in preventing recurring economic cycles or crises.  However, they were usually contained within the system.  Economic crises usually did not become social crises; the system itself was usually not called into question.  Transition to a different system was then an idea kept away from public discussion, a project kept […]

  • Greece

    Eneko Las Heras, born in Caracas in 1963, is a cartoonist based in Spain.  The cartoon above was first published on his blog . . . Y sin embargo se mueve on 29 June 2011. | Print

  • Max and Missy: From the U.S. Boat to Gaza to Syntagma Square

    Political sensitivity and thoughtfulness, depth of knowledge and analysis, deep commitment and kindness are, in my view, a perfect combination to build a movement for justice and to create meaningful change.  These were the characteristics that so moved and inspired me these past couple of weeks as I spent time in Athens with two of […]

  • Why the Euro Is Not Worth Saving

    The Euro is crashing today to record lows against the Swiss Franc, and interest rates on Italian and Spanish bonds have hit record highs.  This latest episode in the Eurozone crisis is a result of fears that the contagion is now hitting Italy.  With a two-trillion dollar economy and $2.45 trillion in debt, Italy is […]

  • Greece: Guarding Israel from Freedom Flotilla

    “@USBOATTOGAZA  Iceland Parliamentarian visits boat to show solidarity.  ‘Greece sold its economy to western banks and its politics to Israel.’” — Medea Benjamin, 2 July 2011 Carlos Latuff is a Brazilian cartoonist.  Cf. Fulya Özerkan, “Gov’t Pressure on İHH Divides Group before Flotilla Decision” (Hürriyet Daily News, 16 June 2011); Semih İdiz, “Why the Mavi […]

  • Triplet Crises and the Ghost of the New Drachma

      Much of the discussion surrounding the Greek crisis revolves around the probability and implications of a sovereign default and on whether the introduction of a national currency (which, for simplicity, we could call the new drachma) would help pull the Greek economy out of recession (see for example Manasse 2011 on this site).  Less […]

  • U.S. Boat to Gaza Seized by Greek Authorities and Captain Jailed: Passengers Determined to Free Captain and Set Sail Again

      After a two-hour standoff at sea, the U.S. Boat to Gaza The Audacity of Hope was seized by the Greek Coast Guard and forced to return to the port of Piraeus under military escort.  The boat’s captain has been put in jail, charged with disturbing sea traffic — which includes endangering the lives of […]

  • Sabotage of MV Saoirse in Turkey: ‘An Act of International Terrorism’

      The Irish-owned ship, the MV Saoirse, that was meant to take part in Freedom Flotilla 2 has been sabotaged in a dangerous manner in the Turkish coastal town of Göcek, where it had been at berth for the past few weeks.  Visual evidence of the undership sabotage, which was carried out by divers, will […]

  • Greece: Organize, Counterattack!

    “The Peoples Have the Power and Never Surrender.  Organize, Counterattack!” was the slogan written in Greek and in English on the banner that the All Workers’ Militant Front (PAME) hung from the Acropolis on 27 June, on the eve of the 48-hour strike against the barbaric anti-people measures of the social-democratic government, the EU, and […]

  • The Greek Crisis: Uttering the Other “D Word”

      Default is not the dirty word that nobody wants to say.  Almost everybody now accepts that Greece will default.  Several people will prefer to use the euphemism of “re-profiling debts,” but we all know what it means.  The interesting thing is that at least some authors, like Martin Wolf in a recent Financial Times […]

  • Is the U.S. Government Prepared for a Greek Debt Default?

    The European authorities are playing a dangerous game of “chicken” with Greece right now.  It is overdue for U.S. members of Congress to exercise some oversight as to what our government’s role is in this process, and how we might be preparing for a Greek debt default.  Depending on how it happens, this default could […]

  • Debtocracy

      In March 2011, a group of people from different political backgrounds took the initiative to demand the formation of an Audit Committee in Greece.  Academics, writers, artists, union representatives all over the world supported this initiative.  The Audit Committee will find which parts of the debt are odious or illegitimate and will prove that, […]

  • Greek Protesters Are Better Economists Than the European Authorities

    Imagine that in the worst year of our recent recession, the United States government decided to reduce its federal budget deficit by more than $800 billion dollars — cutting spending and raising taxes to meet this goal.  Imagine that, as a result of these measures, the economy worsened and unemployment soared to more than 16 […]

  • Greece

    Eneko Las Heras, born in Caracas in 1963, is a cartoonist based in Spain.  The cartoon above was first published on his blog . . . Y sin embargo se mueve on 17 June 2011.  Translation by Yoshie Furuhashi (@yoshiefuruhashi | yoshie.furuhashi [at] gmail.com).  Cf. “Varoufakis Says Greece’s Papandreou ‘On His Last Legs’” (Bloomberg, 16 […]

  • European Integration at the Crossroads: Deepening or Disintegration?

      Are the member states of the Eurozone responsible for the Euro crisis the ones having problems servicing their debt?  The majority of people in Europe believe that this is the case.  Therefore, indebted countries like Greece, Portugal and Ireland must subject themselves to a brutal austerity program of savage cuts in welfare spending, diminishing […]

  • Anonymous Leaders of the Movement of the “Indignant” in Greece

    On Friday, the blogs which are guiding the movement of “indignant” citizens published a statement of the “indignant” citizens in Syntagma Square that called on the left forces to leave the squares.  Thus, the “anonymous” leaders of the “movement of the squares,” the “non-partisan,” “spontaneous,” “non-politicized” citizens, appear to be politicized, declaring themselves “anti-left.” Perhaps […]

  • Greece: PAME Occupies Finance Ministry, Calls for General Strike

    Since early this morning, PAME members have symbolically occupied the Ministry of Economy and Finance, calling upon workers to rise up and stop the government’s barbaric anti-labor measures.  All out for the demonstration today, Omonoia Square, 7 PM.  General Strike! The All Workers Militant Front, PAME, is a coordination center of Greek trade unions, founded […]

  • When Push Comes to Shove? Exposing the Empty Threat to Kick Greece Out of the Eurozone

    A sword of Damocles, we are told, is hanging over Greece.  Even the Greek EU commissioner says that Greeks must accept that their country will be run, nay micromanaged, by a committee of foreign creditors, or else Greece will be kicked out of the eurozone. This threat is found upon a flagrant lie.  Greece cannot […]

  • The Crisis Enters Year Five

    The current global capitalist crisis began with the severe contraction in the housing markets in mid-2007.  Welcome to Year Five.  A usual inventory of where things stand begins with the good news: the major banks, the stock market, and corporate profits have largely or completely “recovered” from the lows they reached early in 2009.  The […]