Economía marxista para el Siglo XXI

Michael Roberts Blog

Much quicker than I expected, the new Greek government and the Euro leaders are coming to a major face-off. The Syriza government have made it clear that it will not agree to another Troika-style fiscal austerity and neo-liberal ‘structural reform’ programme in return for loans to pay back debt coming due (money to be paid to the IMF and hedge funds). Instead it wants debt relief, or ‘haircut’, or at least a new debt regime that reduces the burden of debt servicing to the minimum so that there is enough room for the government to spend to help the poor, the unemployed and bankrupt small businesses rather than Europe’s banks and oligarchs.

So far, the ECB and the Euro leaders are talking tough and saying that they will concede little or nothing to Syriza. On the contrary, the talk is of cutting off any further funding of Greek banks through…

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