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’

Op-Ed: It’s not all bad news from Greece Special

About The Author: Graham Land

Greenfudge editor and London-based writer Graham Land grew up in the suburbs of Washington, DC, where he was part of the local hardcore punk scene, playing in several bands. Through this musical movement he became involved in grass roots interests such as anti-racist activism, animal rights and Ecology. In 2000 he relocated to Europe, eventually earning an MA from Malmö University in Sweden. He has also lived in Japan, Ireland, Portugal and Greece.


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