Friday, 24 June 2011

EU tells Greeks to take more austerity or no bailout

So the EU and its moneyman have threatened Greeks need to take further actions of austerity before they will be given their new bailout package which will in the long run result in more cuts as they will need to pay this back one day.

This imagine reminds me of some awful medicine when you were younger being forced to take this awful tasting medicine as we are told it will make us better. We are not sure of this and often feel worse because of it.

This is a very similar feeling the Greek workers must be feeling today. When they are being told they require further privatisation and further cuts to their pay and jobs.

We can identify with this in the Uk where we are constantly being told there is no alternative we need to cut. Even Britains opposition the Labour party who claim to stand up for workers, which i completely refute admit there need to be cuts too all be a little slower and nicer.

i dont know about you but i dont know of any cuts that dont hurt or are nice.

EU leaders have urged all Greek politicians to support new spending cuts and tax hikes, saying there is no alternative if debt-laden Athens is to qualify for a second massive bail-out.

The second rescue is being negotiated in Brussels. It is expected to be about 120bn euros (£107bn; $171bn).

"There will be a new programme for Greece, on which the Greek parliament will have to vote next week," said Germany's Chancellor Angela Merkel.

The UK says it will not contribute.

EU leaders held a second day of summit talks in Brussels on Friday dominated by the Greek debt crisis, which threatens the stability of the 17-nation eurozone.

"In the case of Britain I sought assurances that Britain wouldn't be pulled into a eurozone package for Greece, and I've received those assurances," UK Prime Minister David Cameron said.

Ms Merkel reiterated: "We will do everything to stabilise the euro."

She spoke of the Greek opposition needing to "fulfil its historic responsibilities".

Separately, the leaders agreed that Croatia should join the EU. The target for Croatia's accession is July 2013. "There are no reservations, as we had with Bulgaria and Romania," Ms Merkel said.

EU pressure on Greece

The BBC's Matthew Price in Brussels says Europe's exasperation with Greece's economic woes is all too clear.

In their summit conclusions the EU leaders called on "all political parties in Greece to support the programme's main objectives", saying "national unity is a prerequisite for success".

Our correspondent says it was a direct challenge to the Greek opposition, which has threatened to reject the budget cuts when they are put to parliament next week.

Of course there has been mass protests on the streets of Greece this week and they have now experienced 9 general strikes. Effort now needs to be to provide a working class alternative to the cuts package and offer a way out of this vicious circle of debt, cuts and austerity leading to more pain for the good working Greeks.

A new working class alternative that can lead the people out of the grips of capitalism and show things do not have to be this way. There is a alternative and that is making the rich pay. By the workers taking over the commanding heights of the economy and running the economy in the interest of the many not just the few in a planned economy benifiting all not just the moneymen will be the first step to helping Greece out of this mess.

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