The national question
Introductory
In Depth
Most Recent
The crisis of Greek capitalism and how it is impacting on the labour movement
The
crisis of Greek capitalism is clear for all to see. The bosses want
draconian economic policies to be implemented, but the workers have
already given more than they can afford to give. Bosses and workers are
on a collision course as the call for a 24-hour general strike on
February 24 clearly demonstrates.
The Greek crisis and the threat to the Euro
Greece, like all the other capitalist
countries afflicted by the recession, is running a big deficit on its
government budget. Tax revenues have
collapsed and more benefits are having to be paid out to the unemployed.
Deficits for the European Union countries as a whole tripled from 2.3% to 6.9%
from 2008 to 2009 because of the slump.
Severe austerity package provokes wrath of Greek working class
Greek capitalism is in a deep crisis.
It is the weak link in the chain and it is beginning to break. The
country risks defaulting on its debt repayments, posing a serious
threat to the stability of the euro. Severe austerity measures are
being imposed and these are provoking a working class backlash.