Peer2Politics

The Greek debt crisis offers another illustration of Wall Street’s powers of persuasion and predation, although the Street is missing from most accounts. The crisis was exacerbated years ago by a deal with Goldman Sachs, engineered by Goldman’s current CEO, Lloyd Blankfein.

Secret documents show creditors’ baseline estimate puts debt at 118% of GDP in 2030, even if it signs up to all tax and spending reforms demanded by troika

When they talk about writing off part of the debt, our media present this as a measure which will hurt ordinary taxpayers, pitting the lazy and corrupt Greeks against the hard-working ordinary people in other countries. So when, back in the 2008 financial breakdown, big banks became insolvent, it was okay for the state to cover their losses by spending trillions (of taxpayer money, of course), but when a whole people finds itself in misery, the debt should be paid... read more

by Slavoj Žižek

Syriza’s victory — a product of Greece’s vibrant, antagonistic culture of direct action and prefigurative politics — will resound throughout Europe

As the commonwealth grapples with a $73 billion debt it calls unpayable, residents are dealing with higher sales tax and bracing for revenue-increasing cuts.

If they had truly cared, the creditors could have easily prevented a default. Sadly, they found it more important to punish Greece and set an example.

Gov. Alejandro García Padilla said that his administration would probably seek significant concessions from its creditors on a $72 billion debt load.