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Greek people not cause of crisis; Soros suspected of currency manipulation

greek protests austerity measures by government

Many marchers carried banners that said, “Working people should not be made to pay for the crisis that we did not create.”

Their government, the banks and the people are to blame, but it seems that the people are getting all of the flak.

The government: They are choosing to borrow from the big banks who will charge them outrageous, wealth and prosperity sapping interest rates. The government is failing to facilitate a building of a proud and wealthy nation without the need to rely all on debt. They fell for the lure of instant gratification of available credit and push off the real problems the next day.

eurozone sustainability graph

The banks: Swoop in to create the allure of solving problems now by making available credit but in return for this, the country must pay up in horrendous interest charges.

The people: Always demanding more when there really is no more, never appreciating what they already have. When you demand more when there is no more, the government has to borrow to pacify the people, but in another perspective, why do the people want more? Because in some cases, what they make can’t cover their costs adequately. Thank the banks for requiring high prices on borrowing and creating inflation or ‘insisting’ on devaluation of currency. The people can keep producing and producing til they’re blue in the face but the interest keeps sucking away the nation’s wealth as more of it has to go to lining banker’s pockets and less on social infrastructure. This applies to any country! Now, more than ever do we need a ‘Jesus’ to drive out the moneychangers.

Greek gov’t to deepen austerity measures

Pushes workers to pay for capitalist crisis

The Greek government says it will deepen austerity measures already begun against working people to narrow a large government budget deficit.

“Brutal steps” are needed “to address the immediate dangers today,” Prime Minister George Papandreou told the Greek parliament February 26. “Tomorrow it will be too late and the consequences will be much more dire.”

In early February Papandreou had announced wage cuts for government workers, who make up one-third of the workforce; raising the retirement age to 63; and big tax increases that will hit workers and small farmers the hardest.

The government said the measures are needed to obtain loans and sell bonds to pay off $75 billion in debt to Greek and foreign banks that starts coming due in March. Greece’s government debt is 113 percent of the country’s gross domestic product.

Two days before his speech, some 40,000 people marched in Athens during a one-day strike to protest the austerity plans. It was called by the three main union federations, including two closely tied to Papandreou’s Panhellenic Socialist Movement. Many marchers carried banners that said, “Working people should not be made to pay for the crisis that we did not create.”

The strike, which closed down air and rail transport, public services, the shipyards, oil refineries, and ports, was centered among government workers. It involved a much smaller percentage of private-sector workers. Although air traffic controllers joined the strike, many ground workers did not.

The march included small contingents from workplaces, many with their own demands. Workers in the newspaper industry called for the reinstatement of fired colleagues and laid off Olympic Airlines workers, whose unemployment benefits are running out. You can read the full article at The Militant.


  1. Homer Homer March 5, 2010

    Are all these people stupid?

  2. Dimitris Dimitris March 29, 2010

    It is like yesterday since national goverments around the world had backed the banks that had caused an un precedent economic crises with billions. It is the Coldman Sachs “illegal” and secret loan that created a new crisis in European economy. According to Mr. Bernanke and the Securities and Exchange Commission that was also concerned about how derivatives — financial instruments that are largely unregulated and do not trade on public exchanges — have contributed to Greece’s problems. He remarked: “Obviously, using these instruments in a way that intentionally destabilizes a company or a country is counterproductive,” he said.
    “Yes, obviously we are…”, I say..

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