Posted on 11/08/2011 4:41:46 AM PST by lbryce
ROME — With political turmoil still plaguing Greece and descending upon the much larger economy of Italy, the fate of the euro and market stability worldwide hinged Tuesday on whether two of Europe’s most tangled and unresponsive political cultures could deal with their tightening fiscal gridlock.
The prospect of a new transitional, technocratic government in Greece, and signs that Silvio Berlusconi’s resilient hold on power in Italy was weakening in advance of a crucial parliamentary vote on Tuesday, did little to reassure investors that either country was prepared to grapple with the deep structural changes that investors are demanding to restore growth and reduce deficits.
The crisis gripping Mr. Berlusconi’s government deepened as interest rates on the country’s debt rose on Tuesday to 6.74 percent, the highest since the introduction of the euro more than a decade ago and nearing levels that have led to bailouts elsewhere.
Financial markets advanced early Monday on word that the prime minister was negotiating his exit, but lost ground after he denied the reports. On Tuesday, Asian markets generally retreated but European markets rose in early trading after two days of declines.
In Greece, where political chaos last week threatened to plunge the euro zone into crisis, doubts remained about the capacity of the political class to form a coalition government to push through reforms it has agreed to in return for a financial lifeline. So strong is the distrust that Europe’s finance ministers refused to release the next $11 billion in aid for Greece until the two leading political parties signed a letter affirming their commitment to meeting the conditions of the loan deal reached last month with European lenders.
(Excerpt) Read more at nytimes.com ...
Danger close...
January 12, 2009:
Revolutionary ferment in Greece – a taste of what is to come for the whole of Europe
http://www.marxist.com/revolutionary-ferment-greece-taste-for-europe.htm
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Something along those lines. Basically same thing as the "Occupy" movement.
Anarcho-syndicalism
A common Anarcho-Syndicalist flag.
In the early 20th century, anarcho-syndicalism arose as a distinct school of thought within anarchism.[78] With greater focus on the labour movement than previous forms of anarchism, syndicalism posits radical trade unions as a potential force for revolutionary social change, replacing capitalism and the state with a new society, democratically self-managed by the workers.
Anarcho-syndicalists seek to abolish the wage system and private ownership of the means of production, which they believe lead to class divisions. Important principles include workers' solidarity, direct action (such as general strikes and workplace recuperations), and workers' self-management. This is compatible with other branches of anarchism, and anarcho-syndicalists often subscribe to anarchist communist or collectivist anarchist economic systems.[79] Its advocates propose labour organization as a means to create the foundations of a non-hierarchical anarchist society within the current system and bring about social revolution.
They are not fooling around over here.
The economic Barackolypse is the best way to ensure civil unrest and a suspended election.
-———Danger close...——
Perhaps not.
The art of muddling through involves stretching out action in time long enough that adversaries forgot what they were upset about in the beginning. We have a situation where meeting meeting meetings are held and the first is lunch to decide where the meeting will be held to decide on the agenda for the meeting.
Odds are that the process underway is muddling through taken to the utmost level of sophistication.
Countries with some of the longest histories never learning a thing.
Greece is the iceberg and the Eurozone is the Titanic.
All the talking is just re-arranging the deck chairs.
The words and wisdom behind the saying “there is no such thing as a free lunch” should be explained to the citizens of all the nations of the world. That should be on the banners of all the sane parties, if any exist, in those European socialists paradises.
I think that gif almost gave me a seizure.
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