AMY GOODMAN: World leaders are gathering in Cannes for the opening of the Group of 20 summit today. That’s the G20 summit. On the top of the agenda is Greece and the European debt crisis. The Greek prime minister, George Papandreou, is coming under intense criticism from European leaders for allowing the Greek people to decide if they want to accept the conditions of a $179 billion E.U. bailout. Continue reading →
Replacing Economic Democracy with Financial Oligarchy
“But if a country is still not delivering, I think all would agree that the second stage has to be different. Would it go too far if we envisaged, at this second stage, giving euro area authorities a much deeper and authoritative say in the formation of the country’s economic policies if these go harmfully astray? A direct influence, well over and above the reinforced surveillance that is presently envisaged? Jean-Claude Trichet, President of the ECB on receiving the Charlemagne prize for European unity (Aachen, 2 June 2011)
As Britain’s political class pretends that its arranged marriage of Tweedledee to Tweedledum is democracy, the inspiration for the rest of us is Greece. It is hardly surprising that Greece is presented not as a beacon but as a “junk country” getting its comeuppance for its “bloated public sector” and “culture of cutting corners” (the Observer). The heresy of Greece is that the uprising of its ordinary people provides an authentic hope unlike that lavished upon the warlord in the White House.
The crisis that has led to the “rescue” of Greece by the European banks and the International Monetary Fund is the product of a grotesque financial system which itself is in crisis. Greece is a microcosm of a modern class war that is rarely reported as such and is waged with all the urgency of panic among the imperial rich.
We interview Greek Prime Minister George Papandreou about climate change and greenhouse gas emission, socialism, democracy and much more. As the head of Greece’s Socialist Party, Papandreou became prime minister in October after the Socialists trounced the center-right government in national elections, winning 44 percent of the vote, their largest victory ever. Papandreou is also the president of Socialist International, a coalition of national Socialist parties. [includes rush transcript]