“Greece’s
proposed €86bn loan, which will simply allow the country to repay
the institutions lending the money, only makes its debt more
unpayable (Greek markets surge as Athens sets terms of €86bn
bailout package, 12 August). But the purpose of the bailout has
little to do with repaying debt and everything to do with creating a
corporate paradise in the Mediterranean.”
“Under
the terms of the bailout, Greece is up for sale. From the national
lottery to the port of Pireaus and swaths of Corfu, corporations are
scrambling to get a piece of the action. The package declares war on
many: workers, small businesses and farmers. Gone will be laws
protecting small business ownership, collective bargaining, the
minimum wage and help for farmers. The reforms are so specific that
the EU is writing regulation on bread measurement and milk expiry
dates.”
“No
doubt Greece’s economy needs reform. That’s what Syriza was
elected to undertake. But what is being imposed is the establishment
and micromanagement of radical 'free-market' economics, far more
extreme than exist in many of Greece’s creditor countries. This is
not a solution to Greece’s debt crisis, but a solution to the
profits of European capital.”
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