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From Greece to a recession near you: What to do in a crisis?
Greek protest in Edinburgh, photo by author
If you’ve been following the global economic crisis and particularly the Greek crisis, you may be wondering just what the hell the Troika (IMF, EMU, European Central Bank) are playing at. The neo-liberal, anti-democratic, anti sovereignty, German-led bailout (loaded with economic and societal killing measures) doesn’t make sense to economists, political analysts or anyone except those who stand to make money from it.
As the Independent reports, suicide rates have jumped 40% due to the crisis and salaries are being slashed from already non-living wage levels. The only Greeks making money are the bottom feeders. It’s nice to know that loan sharks and pawnbrokers can still make some cash in a crisis. Ah, vulture capitalism.
Due to corrupt politicians with no mandate, who made backroom deals with the right wing, anti-welfare economic and political leaders of Europe, financial slavery to foreign lenders is set to dictate a Byzantine and draconian future for Greece in the form of ‘essential’ austerity measures. That’s right, cut an already abysmal minimum wage in order to make amends for the mistakes and crimes of the wealthy and powerful.
What to do? Strike? Protest? Vote? Who will listen?
All of the above are laudable actions, whether you live in Greece, Spain, Scotland, the US or anywhere.
Another action for the resourceful is to use bartering or local currency, like the Bristol Pound or Ovilos as some are doing in Greece. Have a look at this report from Russia Today on how some Greeks are adapting to the crisis by bypassing the monetary system. I’d like to see how this system works for essentials like food and shelter, rather than yoga and painting classes, but the principal is the same.
See also:
We won’t pay for the crisis – strike on 28 March
Ambrose Evans-Pritchard’s blogs on the Greek ‘rescue deal’
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It can really help local communities. This is the big contrast between a supra national currency like the euro, which cannot be adjusted to local conditions, and local money or bartering. Still, closing public services like hospitals and kicking people out onto the streets is another thing. They are already feeling the effects of poverty: crime, disease, etc…
Even when you’re not following this story you’ll be forced to read about it coz it’s all over the news, I even read an Idiot Guide to the Greek Debt Crisis just to understand everything about it. Well times like this , you really have to be more creative and more resourceful to cope with the situation….
For me it’s good that they’re practicing barter. Ex. services in exchange of a meal like babysitting for lunch and dinner.
Thanks for the comment, yesiamgreen. Do you have any explanation for those or is it just a joke (fair enough)? I can’t find any imn.gr site.
Monthly:
Bonus for turning on your car €69
Bonus for washing hands €420
Bonus for looking at ship’s propeller (coast guard) €840
Bonus for Antenna €1120
Bonus for delivering an envelope €290
Bonus for receiving/delivering a bus (in a public bus company) €450
Bonus for being on time €310
Bonus for finishing cases (in the Ministry of Justice) €595
Bonus for using the fax machine €870
Bonus for using the restaurant €120
Source – imn.gr