Economía marxista para el Siglo XXI


Michael Roberts Blog

The ‘impossible triangle’ for the Syriza government was 1) reversing austerity 2) staying the Eurozone; and 3) Syriza staying in power (see my post, https://thenextrecession.wordpress.com/2015/01/21/syriza-the-economists-and-the-impossible-triangle/). The Troika prepared to break that triangle. What the Troika wanted was a Greek government carrying out a full programme of austerity (running a government budget surplus in the middle of a depression) and ‘structural reforms’ (ending labour rights, deregulating services and finance and privatising state assets). The previous Samaras government got bailout funds in return for such ‘conditionalities’. When Syriza wanted to change those conditions, not only did the Troika not concede, it actually tried to impose even harsher ones on Syriza.

This is partly because the Greek economy and government revenues have deteriorated during the five-month bailout extension. But it is also because the Troika wants to break Syriza and end a government pledged to oppose fiscal austerity and neo-liberal reforms. This…

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