http://www.naomiklein.org/articles/2011/03/greece-s-people-start-reclaim-their-economy
This morning Greek trade unions, academics and politicians issued a call to set up a Public Commission to examine their debts. It’s the first ever call for a Debt Audit in Europe. Supported by over 200 prominent Greek and international figures, it is a concrete proposal for how Greek people might begin to retake control of their economy.
Greece has suffered the worst of the financial crisis, forced to take new loans of up-to €110 billion from the EU and International Monetary Fund (IMF) last May, the country is facing the most brutal austerity cuts in its history, while the economy is still contracting. Many economists remain convinced that Greece’s debts are not sustainable and the country will have to default on those debts in coming months or years.
Meanwhile, €36 billion (11% of GDP) of spending cuts are underway, with rumours of a firesale of Greek assets – from islands to ruins - not to mention numerous structural reforms which will weaken the power of unions. Both cuts and reforms will see inequality soar in Greece in the next 10 years.
