Greece - what should a Left government do?

by James Petras · 2012-08-15 · 114 words

This was not a Socialist Resistance publication. marxsite was Phil Hearse’s own long-form site, run alongside the paper he helped edit. It is kept here with his agreement, recovered from the Internet Archive after the domain lapsed and was taken over by someone else; nothing here links to the address it now points at.

Only a fragment of this survives. It may have been a short link-and-comment post, which marxsite ran many of, or the opening of a longer piece cut off by the capture — from what remains there is no way to tell which.

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James Petras

Introduction: Greece faces the unenviable choice between accepting the terms of “the Troika” and facing the continuation and deepening of a socio-economic crises, which includes five years of negative growth, over 23% unemployment, an astronomical rise in poverty (from less than 15% to over 40%) and mounting suicides, or a rejection of the “memorandum”, and a likely cut-off of Eurozone funding and capital markets with virtually few reserves to cover salaries, pensions or public services.

While the immediate cost of a break with catastrophic conditions imposed by Eurozone bankers may be high, it opens up the possibility of transforming the internal and external relations and structures which led Greece to ground zero.