Showdown, this weekend, between democracy and bankster austerity

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The world will be focused on Europe this weekend where voters hit the polls on Sunday to determine the fate of the banksters’ austerity regime. Already – central banks around the world are preparing for a liquidity crisis next week should Greece’s far-left SYRIZA Party, which has pledged to break Greece’s current bailout agreement with the EU, win and investors around the world panic.

Elections will also be held in France, which just recently elected anti-austerity Socialist Francois Hollande. In order for Hollande to get his pro-working people agenda of raising the minimum wage and stimulus passed, his party will need to win big in this weekend’s legislative elections. Altogether – this weekend is a showdown between democracy and bankster austerity – and the future of the global economy hangs in the balance. Stay tuned.

Thom Hartmann Administrator's picture
Thom Hartmann A...
Dec. 29, 2009 9:59 am


On the one hand, Hollande is warning Greece not to reneg on its debts (or rather, reject austerity: notice how the burden is placed completely on Greece to accept austerity as a condition for the possibility of remaining in the euro). On the other LaGarde is suggesting that Greece is not worth the trouble! It seems that the intent is to send Greece a message that they are the ones with the most to lose. Yes, Greeks are stocking up on staples and withdrawing their money from the banks (not a bad idea if Romney gets elected here, eh?) knowing that they will be in for hard times if a resolution cannot be reached. But, they know that others are anxious as well- most of the headlines about the matter are about the financial and political world outside of Greece positioning itself as advantageously as possible in the event of a catastrophic effect of a Greek pullout from the euro.

nimblecivet's picture
Jul. 31, 2007 3:01 pm

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