Translated "Avante!" article by Jorge Cadima, Member of the International Department
The last days’ developments have proved, to their utmost, that the EU / Euro are incompatible with democracy, sovereignty and peoples’ welfare. It is a dictatorship at the service of the great financial capital and an authenticable peoples’ prison. Just as the PCP has stated, this EU cannot be reformulated. However, under its debris, there ought to be a future for the peoples.
The loans, under the troikas, are a product of the great financial capital agents ( Mario Draghi, the ECB president, a Goldman Sachs man/issue) for the benefit of the financial great capital. The private banking was a creditor of a good part of the Greek debt, back in 2010, and prospered with the respective interests, but decided to withdraw when the crisis busted. As in Portugal, the troikas currency /money never entered Greece / never reached Greece: it went directly to the credits – the parasite financial capital – transferring to the ECB, the IMF and the national central banks. The “aid” was meant for the banks. The public debts were left for the peoples, which exploded during the troika years. They are non-payable, but are a pretext for leading into misery, increasing exploitation and imposing colonial nature relations with the indebted countries.
The so-called “ debtors obligations” are à la carte. The Financial Times, the main British great capital newspaper , dedicates an editorial (2015.06.11) to another bankrupt country: Ukraine. The Financial Times states: “ Ukraine creditors ought to share the country’s pain” and “ must accept a haircut [ a debt pardon]”. It informs there is an international aid “package”[…] and admitting the debt restructuring, cutting interests to pay 15,3 thousand million dollars in the next four years” so that “ the latter must be administrated according to the economic production of the country. It adds there are private creditors that “resist before a debt pardon”, but they dictate: “they ought to give in”. They hold a moral obligation to agree with the restructuring which will allow to reduce the debt unto sustainable levels”. And defends “the use of GDP’ indexation”, a solution that considers “the best for all parts”, as “history proves that, even upon a default, private investors come back easily when economy begins growing again”. And the Financial Times ends: “ regarding such geopolitical important matters, the private interests dictate public policies”. Mrs Lagarde, the “grownup IMF director”, has “ ensured Ukraine, that on the IMF funds [from the IMF] will carry on at their disposal, even if the country fails its payments to private creditors” (in the Deutsche Welle, 2015.06.13). This outstanding duplicity of criterion is explained by the Financial Times: Ukraine has the most reformist government since its independence[…] which is achieving great cuts concerning the state subsidies”. If the brave Greek people ought to be punished and humiliated for its bravery to resist, the Ukrainian coup leaders and Fascists, who impose imperialism troika policies through violence, terror and war, deserve / are worthy of support and debts pardon. Considering a third debt, away from these political considerations. The IMF has just refused any pardon for the Nepal debt, a devastated country by a huge earthquake in April last, killing 8600people and destroying over 500 thousand houses. The destruction was not considered sufficient (in catholicireland.net, 2015.06.15).
The last days developments hold very important lessons on the real nature regarding class domination, imperialism, European Union and social-democracy ( in its several expressions). The Greek government humiliation proves how illusions to reform this EU are paid for.
