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Re: <nettime> Fwd: The Greek position
Nicolas Bourbaki on Tue, 30 Jun 2015 00:19:36 +0200 (CEST)


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Re: <nettime> Fwd: The Greek position


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Europe started the process of blindly kicking Greece while blissfully
dreaming of its own better tomorrow with the massive 1 trillion Euro
bond and asset purchasing program that began in March this year. As of
today 182 billion Euro have been purchased from a list of countries [1]
that excludes Greece. As the wealthier nations prop up their economies
on Quantitative Easing, itself an anti-thesis to austerity, they ask of
Greece for greater austerity to access the debt that their stable
economies provide?

Eventually every entity that participates in the Euro will cover the QE
costs one way or another, including Greece. If Greece stays in the Euro
under these conditions it would represent the largest form of "rent
extraction" in history as the Greek people themselves would also
shoulder some of the burden from QE through continued use of the Euro.

While the current rules and environment may represent sound economics
they also show a complete lack of solidarity and in some forms, e.g. how
QE entitlements are distributed, it closely resembles a proletarian
struggle.

1. http://www.ecb.europa.eu/mopo/implement/omt/html/index.en.html


On 28/06/2015 10:26, nettime's avid reader wrote:
> Greece Referendum: Why Tsipras Made the Right Move
> 
> http://greece.greekreporter.com/2015/06/28/
> greece-referendum-why-alexis-tsipras-made-the-right-move/
> 
> By Marianna Fotaki, University of Warwick, Jun 28, 2015


<...>

 
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