Ellen Brown: Greece could restore the liquidity desperately needed by its banks and its economy by nationalizing the banks and issuing digital loans backed by government guarantees to its ailing businesses.
Ellen Brown: The ECB will not accept Greek bonds as collateral for the central bank liquidity all banks need, until the new Syriza government accepts the very stringent austerity program imposed by the troika (the EU Commission, ECB and IMF).
William Blum: Greece may have no choice, eventually, but to default on its debts and leave the Eurozone. The hunger and unemployment of the Greek people may leave them no alternative.
ardly a day goes by without a new headline screaming about the scandal of youth unemployment, which has been pinned at the outrageous levels of 50 percent in Spain and Greece and above 20 percent in the eurozone. There’s just one problem – those numbers are derived from a flawed methodology, which misrepresents the true […]
Shamus Cooke: Working people in the U.S. need to learn to speak Greek, and adopt an increasingly popular slogan that rejects austerity measures: Tax the Rich!
Ellen Brown: As Aristotle told this ancient Greek tale, Midas died of hunger as a result of his vain prayer for the golden touch. Today, the Greek people are going hungry to protect a rigged $32 trillion Wall Street casino.
Steven Hill: When the true size of Greece’s deficit was revealed to the world, the bonds markets went berserk. The interest rates on Greece’s sovereign debt spiked to unheard of proportions, threatening the solvency of the government, and the rest is history.
Steven Hill: While democracy can be noisy and messy, and can sometimes result in confusion and inefficiency, if implemented fairly with the right institutions the human experience shows that it is capable of fostering remarkable things.
Steven Hill: One of the qualities holding Greece back from enjoying the benefits of a more modern economy is its reliance on an informal economy of family and social networks which too often translates into nepotism, back room deals and tax dodging. But during an economic crisis like this, those networks become valuable
Michael Sigman: Californians can do something about time-consuming fundraising, nefarious corporate influence, and obscene personal spending in American politics on Tuesday, June 8. A victory for Proposition 15, the California Fair Elections Act, will mean that the race for the Golden State’s Secretary of State will be a “clean money election” in 2014 and 2018. A small step, but a necessary one.
Shamus Cooke: The budget crisis phenomenon is international, and the international corporate elite are sharing ideas on how best to come out of the crisis unscathed. They’re blaming the recession itself on public employees, on “greedy” workers who earn the tiniest fraction of what rich shareholders make by doing nothing.
Michael Sigman: Marxist socialism may be dead, but perhaps what Marx called capital’s internal contradictions, illustrated beautifully by the desperation of Goldman and other mega-corporations for short-term profits may, by strengthening the case for fundamental financial reform, bring us closer to a more livable world.