Tuesday, February 14, 2012

Greek crisis: no resolution in sight.

Greece is on the streets again, mobilised against yet more cuts and redundancies, The German-led strategy in support of the Papademos Government finds little favour in Greece as working people are required to take the consequences of a long history of misgovernment and of the GFC. Bail-out funding requires further cuts still, as the IMF, the EU and ECB (the Troika) seek to run Greece as a dependent state. Greeks want none of it, and will not comply meekly. One has no idea where this will end, but Greece's leaving of the Eurozone remains possible, with all the impacts one might expect on the German strategy for Europe.

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