Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

xchrom

(108,903 posts)
Fri Jan 30, 2015, 07:27 AM Jan 2015

The Country That Refuses to Bow Down to Western Bankers

http://www.alternet.org/economy/country-refuses-bow-down-western-bankers

ECONOMY
The Country That Refuses to Bow Down to Western Bankers
The powers that be are getting nervous as other countries consider following Greece's lead.
By Lynn Stuart Parramore / AlterNet January 29, 2015

Mario Seccareccia, a professor of economics at the University of Ottawa, has been outspoken in his warnings that austerity policies have the potential to smash economies and spread human misery. In his work supported by the Institute for Economic Thinking and elsewhere, he has challenged deficit hawks and emphasized the need for strong government investment in things like jobs, education, healthcare, and infrastructure if economies are to prosper. In the following interview, he talks about why what happened to Greece was entirely predictable, why the Greeks were right to reject austerity in the recent election, and what challenges the country faces in forging a sustainable path forward with the left-wing Syriza party at the helm.

Lynn Parramore: You have long been warning of problems in the Eurozone. What do the Greek elections mean to the debate about austerity and how it impacts economies?

Mario Seccareccia: I actually began warning about problems in the Eurozone even before they launched the Euro in 1999! A couple of years after the adoption, in 1992, of the Maastricht Treaty, which was the initial step in the creation the European Economic and Monetary Union or the Eurozone, I happened to be in Paris for the launch of a book that I had co-edited in French titled Les Pièges de l’Austérité (The Austerity Traps) that had been published in November 1993.

22 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
The Country That Refuses to Bow Down to Western Bankers (Original Post) xchrom Jan 2015 OP
the money quote magical thyme Jan 2015 #1
To the Greatest Page woo me with science Jan 2015 #2
There she goes malaise Jan 2015 #3
+1 deutsey Jan 2015 #7
+100 ND-Dem Jan 2015 #19
K/R marmar Jan 2015 #4
You can't give in to financial terrorists. bvar22 Jan 2015 #16
SHAMEFUL! calimary Jan 2015 #18
K&R! This post should have hundreds of recommendations! Enthusiast Jan 2015 #5
Default on the extortion by Goldman-Snachs. Dont call me Shirley Jan 2015 #6
Mario is correct. nt kelliekat44 Jan 2015 #8
I haven't seen any references safeinOhio Jan 2015 #9
They are doing fine I'll bet n2doc Jan 2015 #11
Western Bankers take a punch to the nuts so to speak, good. n/t Hotler Jan 2015 #10
Damn. Just for a split-second...then, nah. n/t jtuck004 Jan 2015 #12
K&R DeSwiss Jan 2015 #13
Kick. JEB Jan 2015 #14
Big K & R Thespian2 Jan 2015 #15
Say no to banksters and fwmds. Life matters. appalachiablue Jan 2015 #17
In my opinion, Greece's biggest asset is its geographical location -- right JDPriestly Jan 2015 #20
Iceland, now Greece aspirant Jan 2015 #21
kick woo me with science Jan 2015 #22
 

magical thyme

(14,881 posts)
1. the money quote
Fri Jan 30, 2015, 07:56 AM
Jan 2015

Some of us at the book launch warned of problems that could arise from a European supranational currency and a central bank which was not accountable to any national authority and which would push countries merely to become hostages to the whims of the financial markets.

woo me with science

(32,139 posts)
2. To the Greatest Page
Fri Jan 30, 2015, 08:24 AM
Jan 2015

These are deliberately manufactured crises, orchestrated by thieves, and standing up to the predators is the only solution.

bvar22

(39,909 posts)
16. You can't give in to financial terrorists.
Fri Jan 30, 2015, 06:52 PM
Jan 2015
[font size=3]Paulson with co-conspirators


Now THIS is Bi-Partisanship!

calimary

(80,700 posts)
18. SHAMEFUL!
Sat Jan 31, 2015, 12:00 AM
Jan 2015

That's the asshole who screamed bloody murder that the whole house was on fire and we HAD to bail them out immediately or else! FUCK him.

This is bi-polar. And that's the best I can think of to say about it.

safeinOhio

(32,532 posts)
9. I haven't seen any references
Fri Jan 30, 2015, 10:11 AM
Jan 2015

to Iceland and how they are doing after rejecting austerity and charging bankers with crimes.

n2doc

(47,953 posts)
11. They are doing fine I'll bet
Fri Jan 30, 2015, 10:24 AM
Jan 2015

You can bet if things were bad there it would be plastered all over the place.

JDPriestly

(57,936 posts)
20. In my opinion, Greece's biggest asset is its geographical location -- right
Sat Jan 31, 2015, 04:13 AM
Jan 2015

in the back of the throat of the Mediterranean. Only Turkey is more strategically located.

The Western countries and NATO have to protect their access to that part of the Mediterranean. Russia lies in wait behind the Black Sea and is already attacking the portion of Ukraine that allows it to enter the Black Sea easily.

Greece has nothing to worry about really in my opinion.

aspirant

(3,533 posts)
21. Iceland, now Greece
Sat Jan 31, 2015, 04:37 AM
Jan 2015

then Portugal, Spain, Italy saying NO WAY, NO PAY to these criminal banksters, who's next?

Oil plummeting, countries laughing at these filthy banksters, corporations trying to create their own global judicial systems, Obama/Dimon getting bailouts in Cromnibus passed, is their any doubt what's going to happen next?

Latest Discussions»General Discussion»The Country That Refuses ...