A gain for Golden Dawn would be a dark day for Greece

“Why should they vote for us? Because they have nothing better,” saysNikolaos Michaloliakos, leader of a Greek far-right party that a decade ago was widely perceived as an illegal, fascist organisation but now stands a very good chance of making it into the Greek parliament. According to most of the published polls, Chrysi Avgi, or Golden Dawn, … Continue reading

German ‘hypocrisy’ over Greek military spending has critics up in arms

Athens’ fondness for weaponry, and willingness of Germany and France to feed it, under fire as Greece struggles with debt crisis. A few months before submarines became the talk of Athens, Yiannis Panagopoulos, who heads the Greek trade union confederation (GSEE), found himself sitting opposite Angela Merkel at a private meeting the German chancellor had … Continue reading

Greece is being destroyed by ‘respectable’ fanatics

The EU, which boasts that solidarity is its founding principle, is forcing Greece into destitution and chaos Greek democracy is being destroyed. Not by soldiers marching with insane slogans on their lips about the inevitable triumph of the German master race, international proletariat or global jihad, but by moderate men and women who think themselves … Continue reading

How credit ratings agencies rule the world

Britain’s credit rating took a knock this week, when Moody’s expressed a ‘negative outlook’ for the national economy. But who are the mysterious agencies who take it upon themselves to grade everything from countries to corporations – and how much power do they really wield?

Shame on Europe for betraying Greece

Capitalism is triumphant as EU states sacrifice the Greek people in a desperate attempt to appease the gods of speculation. The behaviour of the EU states towards Greece is inexplicable in the terms in which the EU defines itself. It is, first and foremost, a failure of solidarity.

Greece and the return of the economic ‘death spiral’

The lesson of 2008 was that stimulus prevented a new Great Depression. Without similar drastic help, Greece will now default. During the latter part of 2008, central bankers around the world worried secretly that the death spiral was approaching. The concern was that it was too late to stop economies crashing. In the event, concerted … Continue reading

As Greece stares into the abyss, Europe must choose

Six inches from the riot policeman’s shield outside the Greek parliament last Friday, a tall, pale boy was shouting at a man who could have been his uncle: “It’s your generation that brought us to this point, but it’s mine that has to pay for it. You have to take responsibility for what’s happening here.” … Continue reading

I fear for a social explosion: Greeks can’t take any more punishment

Helena Smith, who has reported from Athens for more than 20 years, says the country is on the edge of a precipice. Despair has enveloped Greece. This weekend the bankrupt nation, for that is what it is, began negotiating the latest act of a drama that many fear will end in catastrophe – financially, socially … Continue reading

Greece and the euro: the crisis continues

The cuts strategy is not working in Greece: not economically, not socially and certainly not politically What’s Greek for constructive dismissal? Because that’s an apt term to describe how Greece is being treated by the other members of the eurozone. Consider: party leaders in Athens have spent days agonising over how to make €3bn (£2.5bn) of … Continue reading

Greece bows to new austerity measures – but still a bailout deal is not finalised

European finance ministers are piling the pressure on Greece to come good on pledges to slash public spending to the bone before closing a deal on a new €130bn (£109bn) bailout – even as the prospect of a disastrous default looms closer. Following weeks of brinkmanship that have poisoned relations between the bankrupt country and its eurozone … Continue reading