Written by Foras Teamhrach
The €130 billion-plus package of loans agreed by EU finance ministers will do nothing to halt the Greek bankruptcy process. (Source: World Socialist Website) * Under the “plan,” holders of privately-held Greek bonds are to be asked to participate in their “voluntary” restructuring, accepting losses of up to 53%. It will not be clear [...]
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Written by Foras Teamhrach
The hero of Greece‘s anti-Nazi resistance movement, Manolis Glezos, has appealed to anti-capitalist protesters to "overturn a rotten system". Glezos said his nation had become a "guinea pig" for austerity measures to which no country was immune. "We have become the guinea pig of policies exacted by governments whose only God is money," said [...]
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Written by Foras Teamhrach
Image Courtesy of Zero Hedge – http://www.zerohedge.com/news/eurusd-collapses-report-eurozone-considering-delay-greek-bailout Germany is now demanding that the “bailout” of Greece be extended until after April, that is, after the Greek elections. EURUSD plunged down to under 1.3070 on the news. Guardian UK: “According to Reuters, Germany, Finland and the Netherlands are leading the push to delay Greece’s bailout [...]
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Written by Foras Teamhrach
Last Thursday, the leaders of the parties that comprise the Greek coalition government agreed to implement new austerity measures required in order for the country to receive additional aid from the EU and IMF. Greece is close to insolvency, and the government in Athens was willing to meet most of the demands made by [...]
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