The impending default and the new wave of working class revolt in Greece
The
financial crisis in Greece is constantly in the headlines and focusing
everyone’ attention on what it could lead to. As we have explained
before, the reason for this is not due to the objective economic weight
of the Greek economy within European and world capitalism. In absolute
terms Greece only accounts for 2% of the European Union’s GDP and even
its public debt is only 3% of the total public debt of the Eurozone. The
point is, however, that Greece is the weakest link in European
capitalism which is now at the centre of the global capitalist crisis.
