Monday, January 30, 2012

Greece: Goodbye Democracy

 The European policymakers who are attempting to force Greece to develop a budget that will satisfy investors are now discussing ways to directly intervene in Greek budget decisions. This is just another step in recent decisions that ensure that democracy is subservient to financial interests.
   The former prime minister of Greece George Papandreou decided that Greek citizens should be given the opportunity to have their say on austerity measures being imposed by the Troika, of the European Commission, the European Central Bank and the International Monetary Fund. He proposed a referendum on the measures. This irritated those who count in these matters no end. Papandreou was forced to cancel the referendum and resign. He was not a suitable servant of those who matter.
       Papandreou's government was replaced by one headed by an unelected technocrat Lucas Papademos.   Nine in ten Greeks are unhappy with this government. Elections may take place in April. Whatever happens in elections those that count want to make sure the right decisions are made.
    European officials want to have the power to implement austerity measures and also want veto powers over budget decisions. This transition from democracy to a type of dictatorial technocracy designed to protect investors has drawn little criticism from politicians outside Greece. The U.S. is not speaking out about the necessity that there be an orderly transition back to democracy. Democracy that is not in the interests of high finance is a luxury that even nominally democratic countries cannot afford. No doubt it is a reasonable aspect of the necessary austerity measures. For more see this article.
   


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