Tuesday, May 8, 2012

Enough Is Enough

After a series of election Leftist parties of France, Greece, and Italy have swept austerity junkies from office. Pro-growth promises trumped hardline economics threatening the German government's demands for budget cuts in order to repay bank loans from before the crisis. PM Merkel has called a continuation of cost-cutting, while the newly elected leader of France has announced his intentions to renegotiate the pact signed by his predecessor Nikolai Sarkozy and will address an EEU meeting on May 23 to promote the re-alignment of the multinational investment to fight rapidly rising unemployment such as Spain, where youth unemployment stands at 50% without any hope of getting a job without government assistance.

Greece has yet to form a new government, but the left will try to gather a majority from the Socialists, Communists, Democratic Left, and the newcomers Syriza, whose 38 year-old leader seems in position to head the coalition emboldened to fight the central banks' draconian demands for a bailout solution. The Euro dropped to 1.30 against the dollar and many Greeks are seeking a return to the drachma in order to monetize their debt.

In other words they are ready to say, "Fuck you, we don't need your 240 billion Euros, which would only go to paying off your fucking banks."

According to the BBC Mr Tsipras, the Syriza leader, told reporters, "The pro-bailout parties no longer have a majority in parliament to vote in destructive measures for the Greek people." and proposed the following measures to protect Greeks; Cancelling the bailout terms, notably laws that further cut wages and pensions Scrapping laws that abolish workers rights, particularly a law abolishing collective labour agreements due to come into effect on 15 May Promoting changes to deepen democracy and social justice Investigating Greece's banking system which received almost 200bn euros of public money Setting up an international committee to find out the causes of Greece's public deficit and putting on hold all debt servicing - BBCnews.com

Italy also voted for the left and Spain is threatening its new government after it decided to bail out Bankia to the tune of 7 Billion Euros.

Ireland sucked up to the banks and the austerity cuts have resulted in a crisis of epic proportions, where suicide is the only way out of the hole for many young men. Iceland rejected the banks' demands in 2008 with a drastic drop in GDP, but the remote island has not sunk under the waves.

And neither will Greece.

Fuck the banks.

They are not too big to fail, for capitalism has failed the people and it's time for the banks to pay the price of failure.

Get ready for a ride with Mad Max.

It might not be pretty.

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