The Greek tragedy: another example of disaster capitalism

The systemic failures of capitalism are all too apparent and all to frequent to be ignored as mere blips. Elastoplasts and bandages are hastily being applied to plug gaping holes in the so-called intricate framework of modern capitalism yet as one hole is temporarily blocked another even bigger emerges.

Just as the western world came together to avert a collapse of the global financial system in 2008 within a couple of years another colossal joint effort involving the G7, G20, European Central Bank and the IMF is underway to prevent contagion in the Eurozone following the effective debt default by Greece. The Eurozone is to receive a 750 billion Euro bail-out package to prop by countries on the verge of default. Read more>>>