The Significance of The Greek 'No'
Monday, July 06, 2015
The verdict of the Greece plebiscite, despite all bullying tactics of the European imperialist hawks, clearly said 'No' to the austerity conditions imposed by the Troika, that consists the European Union, the European Central Bank and the International Monetary Fund, to bail-out the near bankrupt Greece by restructuring the debts.
The major threat that the Troika used was of throwing Greece out of the Eurozone and snatch away its right to use the Euro as a currency. Other threats like driving the nation towards total bankruptcy was also used by the Troika clique led by an unholy nexus of the US - German and French monopoly-finance capital. However, all these threats failed to bully the Greek people, who in large number favoured hostility with the European and American monopoly capital, corporations and large banks than to prostrate before these powers begging for mercy and money.
The 'No' referendum of the Greek people will not automatically contain their miserable condition, but will make it clear to the Troika that the people of Greece will not tolerate any dictates of the autocratic international monopoly capital regarding the terms of bail-out, which the Euro-American imperialist hawks will allow only at the cost of austerity measures, which includes drastic reduction of government expenses on social sectors and benefits.
Greece gave a verdict which will open a new window of opportunity for the government led by Syriza to negotiate the bail-out terms with the creditors, however, it will not write off the debts, as the parliamentary party is not a radical party of the left to take such a bold pro-people and nationalist decision. They will surely succumb sooner or later to the demands of the Troika, unless they are replaced with a genuine left-wing government which will reject the debt agreements because they were taken by the government and big corporations for their own profit motives.
The major threat that the Troika used was of throwing Greece out of the Eurozone and snatch away its right to use the Euro as a currency. Other threats like driving the nation towards total bankruptcy was also used by the Troika clique led by an unholy nexus of the US - German and French monopoly-finance capital. However, all these threats failed to bully the Greek people, who in large number favoured hostility with the European and American monopoly capital, corporations and large banks than to prostrate before these powers begging for mercy and money.
The 'No' referendum of the Greek people will not automatically contain their miserable condition, but will make it clear to the Troika that the people of Greece will not tolerate any dictates of the autocratic international monopoly capital regarding the terms of bail-out, which the Euro-American imperialist hawks will allow only at the cost of austerity measures, which includes drastic reduction of government expenses on social sectors and benefits.
Greece gave a verdict which will open a new window of opportunity for the government led by Syriza to negotiate the bail-out terms with the creditors, however, it will not write off the debts, as the parliamentary party is not a radical party of the left to take such a bold pro-people and nationalist decision. They will surely succumb sooner or later to the demands of the Troika, unless they are replaced with a genuine left-wing government which will reject the debt agreements because they were taken by the government and big corporations for their own profit motives.
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