Tag Archives: Syriza could trigger end to EU austerity

Austerity nears its Waterloo

The third vote, tomorrow, to try to elect a president in Greece, normally a figurehead, could well turn out to be the hinge point which starts, if not a landslide, then at least a series of momentous changes that could steadily unwind the grip of austerity across the EU.   Right on cue, the entire Establishment both in Greece and outside Greece and grandees like Juncker of the EU Commission have been pouring fire and brimstone on Syriza and its leader Tsipras, and promising absolute catastrophe if the existing Conservative government in Athens doesn’t get its way.   Well, of course they would say that, wouldn’t they?   What is at stake is not the election of a new president, but a vote of confidence in the current conservative Samaras government.   Samaras’ aim, if he can win this third vote (he has already lost twice), is to use it as a springboard to ram through massive further cuts so as meet the austerity targets imposed by the troika (the EU, the ECB, and IMF) as a condition for further bailout payments.   But even that is not what is ultimately at stake.
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