Notes from the front – of the week 25/2/2015
Greece: EU still trying to impose austerity
The new Greek government’s struggle with the EU has started to unfold with the outcome of the first round of negotiations with the EU institutions. This has seen Syriza forced to make a number of concessions on their anti-austerity programme.
The Syriza government is in a fight with hugely powerful forces – Germany, the IMF, European capital – which made it clear to Greece they were prepared to unleash a whirlwind if its government does not comply. The clearest threat was of an engineered run on the Greek banks which would have brought the tills to a standstill and led to an immediate chaotic social and economic crisis. The consequences would have made the 2013 Cyprus crisis look like a walk in the park.