Posts Tagged ‘ greece ’

Catastroika: privatization goes public (documentary)

May 27, 2012
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With its on-going “debt crisis” Greece has emerged as a target for economic “solutions testing.” So far austerity and large-scale privatization seem to be the favored  treatment, as prescribed by the putative economic experts–the IMF and the EU banking sector.  In June 2011 Democracy Now hosted a debate with Hara Kouki and Costas Panayotakis, discussing the imposed economic measurements that triggered widespread protest throughout Greece and led to ridiculous new levels of privatization, such as the Greek police force renting out their officers and helicopters to private individuals. And a related documentary, “Catastroika: privatization goes public,” was recently released, analyzing the transfer…

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50% debt cut for Greece?

October 31, 2011
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Reading German newspapers theses days, one of the most prominent headline reads “50% debt cut for Greece settled.” The headline refers to the latest meeting of the EU member head of states, who supposedly settled for a 50% debt relief for Greece and most notably with “substantial participation” of the private banking sector holding Greek government bonds. Why then did stock prices of these institutions surge upwards shortly after the 50% cut publication?  Here’s why: What was settled for is by no means a real 50% debt cut and was even less settled with the “substantial participation of the private banking sector.”…

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