You Can’t Be Pro-Euro and Anti-Austerity

The horrendous proposed agreement between Greece and its creditors lays bare the euro's anti-democratic core.


The draft of the agreement between the Greeks and the Eurogroup is out and, as everyone has noticed, it is not just an act of revenge — it is a piece of legislative torture. It contains old demands, like pension reductions and higher taxes to fund primary surpluses, as well as new demands, like a reduction in the power of unions and a massive privatization of state assets using a separate fund controlled by Greece but monitored by the European Union’s institutions.

In fact the document asks for a massive legislative program touching on every aspect of Greek economic life — tax policy, product regulation, labor markets, state-owned assets, the financial sector, shipping, budget surpluses, pensions, and so on. This legislation is demanded within the next few weeks. Such a package is the kind of thing one sees during or just after wartime, not as the product of democratically negotiated decisions.

Let’s remember that the program on which Greek Prime Minister Alexis Tsipras and the Eurogroup agreed is something asked of a country that has already experienced a very severe depression, implemented a number of constraints requested by creditors, and has a 25 percent unemployment rate and a banking crisis. What is the point of torturing a victim whose will is already broken? To destroy all opposition.

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