A report on the working class struggles against austerity measures in Greece by Proles and Poor’s Credit Rating Agency aka TPTG, a Greek communist group.
In periods of crisis, such as the current period of over accumulation crisis, capitalists use the politics of “public debt” in order to devise new ways to intensify exploitation. In contrast with capitalist upturns when the private debt is increased, downturns are characterized by the increase of the “public debt”.
Mass strikes with only hours prior warning are unfolding in Greece after the government announced new crippling measures for workers
The government's announcements of the new austerity measures dictated by the EU have rendered the greek PM's talk of a "state of war" concrete. The new measures include a 30% cut in public workers' 13th and 14th salary, as well as 12% cut in all salary subsidies, which in reality amounts to a sum of more than 1/12 of the total annual salary.
The greek PM, Giorgos Papandreou, has declared the country in "a state of war" after extended meetings with the EU economics commissioner Mr Rehn, leading workers to declare more strikes.
After two days of council with the EU commissioner Mr Rehn, the Greek Prime Minister and President of the Socialist International, Mr Giorgos Papandreou has announced that the country is in a state of war against its economic predicament.
Serious fuel shortages are spreading across Greece as customs officers decide to extend their strike against austerity measures until Tuesday.
Long lines of cars are to be seen in petrol stations across greece as fuel is running out after an extension of customs officers industrial action against the neoliberal austerity measures imposed by the government on the pretext of the national credit crisis.
Hillel Ticktin on a Marxist political economy of the financial crisis of 2008-9 and capitalism's uncertain future.
[i]The article considers whether there are limits to capitalist strategies for survival. It argues that the present downturn represents a crisis in the capitalist system itself, in that the mediating forms by which it could maintain control and grow have reached their limits.
The stories claim that public sector workers earn on average 7% more than their counterparts in the private sector, despite declining productivity. The message is straightforward enough. In the words of Graeme Leach, chief economist and director of policy at the Institute of Directors, “It is ridiculous that pay and perks have risen when public sector productivity has fallen.
Various thoughts from Prol-Position on the financial crisis beginning in 2008.
The following are rather more preliminary and turmoiled thoughts in turmoiled times than a collectively debated position...
It’s a production affair!