Syriza

Will Syriza Pull Down Temple on ECB?

Date:

Do we live in an economy or in a society? Last night Europe's central bankers sent the clear message they expect us to be the well behaved slaves of an economy rather than equals in a society. Less then two weeks after the Greeks had elected an anti-austerity government the ECB in effect told them they intended to block the promises of change that government was elected on.

Last night the ECB stopped the use of Greek sovereign bonds as collateral in borrowing from the ECB. In doing so they were sending a clear message that they expect the new Syriza/ANEL government in Greece to completely abandon the anti-austerity promises they were elected on. If they fail to obey the unelected central bankers then this policy change was intended to indicate a willingness to allow the collapse of the Greek banking system, something that would have disastrous effects in Greece but also across the rest of the EU.

Like what you're reading?
Find out when we publish more via the
WSM Facebook
& WSM Twitter

Syndicate content