The Euro crisis, and the revolt against trickled-down austerity, enters a new phase

The Euro crisis, and the revolt against trickled-down austerity, enters a new phase

Europeans stocks are tumbling and investors around the world are keeping a close eye on Greece as the Euro crisis enters a new phase. On the heels of elections that ousted the pro-austerity government in Greece – new anti-austerity parties have – so far – been unable to form a coalition government. Greek President Karlos Papoulias is desperately trying to bring together party leaders for a meeting today in hopes of finding a coalition government. But, far-left SYRIZA Party leader – Alex Tsipras – is refusing to attend the meeting alongside other parties that support austerity.

Neither austerity nor anti-austerity parties won enough seats in the last election to form a coalition government – meaning the President will likely have to call for a new round of elections in the coming weeks. If so, the far-left SYRIZA party will likely pick up even more seats in Parliament – making an anti-austerity coalition government a real possibility just before Greece runs out of money as early as next month. When Greece goes broke – if the new government refuses to sign on to the IMF and EU-backed austerity and bailout – then Greece will default and likely be forced out of the Eurozone. Thanks to the worldwide economic meltdown and trickle-down austerity response – the Greek economy has been in recession for the last five years. At least now – an end might be in sight – although it could get very, very painful.

Meanwhile in Germany – Chancellor Angela Merkel saw her Conservative Party get crushed in state elections in the North Rhine-Westpahlian – the biggest state in Germany. Merkel has been leading the charge for austerity around Europe – but now finds herself vulnerable as support for her Party plunged to 26% - its worse result since World War 2.

Everywhere you look – the supporters of trickle-down austerity are getting hammered by voters. Let’s help Americans get the message – and kick the Republicans, pushing their own trickled-down austerity here, to the curb.

Comments

DRichards's picture
DRichards 2 years 23 weeks ago
#1

Colonized by Corporations

By Chris Hedges

In Robert E. Gamer’s book “The Developing Nations” is a chapter called “Why Men Do Not Revolt.” In it Gamer notes that although the oppressed often do revolt, the object of their hostility is misplaced. They vent their fury on a political puppet, someone who masks colonial power, a despised racial or ethnic group or an apostate within their own political class. The useless battles serve as an effective mask for what Gamer calls the “patron-client” networks that are responsible for the continuity of colonial oppression. The squabbles among the oppressed, the political campaigns between candidates who each are servants of colonial power, Gamer writes, absolve the actual centers of power from addressing the conditions that cause the frustrations of the people. Inequities, political disenfranchisement and injustices are never seriously addressed. “The government merely does the minimum necessary to prevent those few who are prone toward political action from organizing into politically effective groups,” he writes...

http://readersupportednews.org/off-site-opinion-section/83-83/11425-focus-colonized-by-corporations

David S. Lynch's picture
David S. Lynch 2 years 23 weeks ago
#2

This story begs the question: given global corporate dominance, is it possible to create change that favors The People without a catastrophic economic meltdown?

I'm beginning to think that you can't have one without the other. Economic catastrophe is the trump card the corporations can play to keep us in line.

Popular movement threatens corporate power? The stock market tumbles.

But perhaps that isn't such a bad thing. Is the stock market a reliable indicator of our collective prosperity? It certainly hasn't been in line with mine during the past 5 years.

dianhow's picture
dianhow 2 years 23 weeks ago
#3

US is NOT Europe We have too many die hard loyal followers who do not - will not think for themselves, check facts or use logic or reason. Corp Media is run for max profit Getting out all the facts seems not to matter much . I am totally disillusioned with US media except PBS and C Span

ecooper62's picture
ecooper62 2 years 23 weeks ago
#4

Paul Krugman asks, "Will Germany do the right thing?" It is interesting to note that "Trickle down economics" really meant "Trickle down austerity". I will forever talk about economics of the Right this way, and I hope the news media picks up on this as well. Why do people have such a difficult time with abstract problems? What works at a micro-level may not work at all at the macro-level. Is it that we are obtuse by nature?

How about this for an abstraction, "The world economy is in Germany's hands." Here is another, "We've lost thirty years of real economic growth!" Even Clinton should have been knowlegable of the results that repealing Glass-Stegall would cause. If you leave the door to the hen house open, don't be surprised when the fox shows up.

keylawk's picture
keylawk 2 years 23 weeks ago
#5

In the past several years, the invidious take-over of media by plutocratic powers has been revealed. By the flukes of their own negligence, media monopolies claiming to report "news" have shown themselves to be devoted to distracting entertainment and outright deception. Rupert Murdock is a criminal. However, the media empire is not in trouble. Apparently the exposure of criminality came too late -- Fox News/ WSJ had already neutralized the ability of any government agency to prosecute its crimes.

So what can we do to recover the integrity of the 4th Estate?

Clarissa Smith's picture
Clarissa Smith 2 years 22 weeks ago
#6

If you die to know more about politics in Germany, just listen to the German public radio DLF (Deutschlandfunk -- via Internet radio). There I heard, Merkel actually would profit, after her last competitor within her own party was beaten at the Rhine. This would make her even stronger, since there isn't anybody to seriously challenge her.

Interestingly they also said, Merkel was politically very adaptive and that is what I meant before: She has actually learned a lot from Social Democrats, Greens and other progressives. I don't know what she's claiming in the E.U. parliament in things Greece, but her policy within Germany cannot be considered austerity.

In Germany they very much call for kicking Greece out of the Euro zone. On DLF radio you hear that again and again. Politically Greece seems to be pretty unstable -- too many Greeks tend to radical parties on the left and right. So I don't wonder they're unable to make consistent policy in order to build their economy.

Instead of complaining about Germany, America should just learn and adapt from there!

David Kahl's picture
David Kahl 2 years 22 weeks ago
#7

Two words: Elizabeth Warren.

Palindromedary's picture
Palindromedary 2 years 22 weeks ago
#8

Three words:

Elizabeth Warren NOW!

Clarissa Smith's picture
Clarissa Smith 2 years 22 weeks ago
#9
Quote ecooper62:"The world economy is in Germany's hands."
While we had Iraq "in our hands", actually destroying it, the Germans refused to join our insane invading. They just minded their own business, which kept their economy strong, as it has always been. If we now have German ventures like Aldi store and Solar World here in the U.S., its not because the Germans invade us on purpose -- their ventures just work well. Blaming our faults on the Germans, or on whatever abroad, is very harmful. We have to blame our mess on ourselves and start doing. Just envying others and blaming them is the classical way not to start doing. This destructive jealousy keeps us from improving our own situation.

The Germans pretty much dominate the E.U., but saying they would have the world's economy in their hands is ridiculous. If they now challenge Greece, this has to do with a contract all E.U. members signed years ago, which contains a certain debt limit. Germany is the main payer in the E.U. and they're protesting countries like Greece which are a drag on the E.U. budged. Their pressuring Greece is nothing but an inner-E.U. issue and doesn't mean they have the world in their hands. The E.U. isn't the world!

This being jealous of Germany is a very silly attitude.

Who Should an Economy Serve?

The top one percent own half of all the world's assets. In stark contrast, the bottom fifty percent of the world owns less than one percent. According to the 2014 Global Wealth Report from Credit Suisse, global inequality has surged since the 2008 financial collapse. The report explains that while global wealth has more than doubled since the year 2000, the vast majority of overall growth has gone to those who were already wealthy.

From Unequal Protection, 2nd Edition:
"Beneath the success and rise of American enterprise is an untold history that is antithetical to every value Americans hold dear. This is a seminal work, a godsend really, a clear message to every citizen about the need to reform our country, laws, and companies."
Paul Hawken, coauthor of Natural Capitalism and author of The Ecology of Commerce
From The Thom Hartmann Reader:
"Thom is a national treasure. Read him, embrace him, learn from him, and follow him as we all work for social change."
Robert Greenwald, political activist and founder and president of Brave New Films
From Screwed:
"Once again, Thom Hartmann hits the bull’s eye with a much needed exposé of the so-called ‘free market.’ Anyone concerned about the future of our nation needs to read Screwed now."
Michael Toms, Founding President, New Dimensions World Broadcasting Network and author of A Time For Choices: Deep Dialogues for Deep Democracy