Other Voices: The Connexions Newsletter - July 3, 2015
Greece and thd debt crisis
Diemer, Ulli (editor); Rickwood, Darien Yawching (production)
Date Written: 2015-07-03
Year Published: 2015
Resource Type: Serial Publication (Periodical)
Cx Number: CX17652
Our spotlight this issue is on the debt crisis facing Greece. To understand the crisis, one has to look beyond the mainstream media to alternative sources of information. We've done that, with articles that set out to analyze the nature of the debt burden that has been imposed on the citizens of so many countries, not just Greece. Also: celebrating Grace Lee Bogg’s 100th birthday.
This week: Greece, Debt, and Crises
Our spotlight this issue is on the debt crisis facing Greece. To understand the crisis, one has to look beyond the mainstream media to alternative sources of information. We’ve done that, with articles that set out to analyze the nature of the debt burden that has been imposed on the citizens of so many countries, not just Greece.
As several of our featured authors point out, many of these debts fit the definition of ‘odious debts’, that is, debts that were arranged between corrupt lenders (banks) and corrupt borrowers (rich oligarchs), without the knowledge of the people in whose names the debts were incurred. The ordinary citizens of Greece (and other countries) never saw the money loaned to ‘Greece’ and derived no benefit from it. Yet they are expected to suffer the elimination of their jobs, wages, pensions, health and social services, etc., in order to repay the money looted by the oligarchs. Paul Craig Roberts and Tariq Ali point out that this kind of debt is a tool used to crush hopes and movements for change. An article from Solidarity argues that the only solution for Greece is to repudiate the debt and leave the Eurozone.
We also commemorate birthday of the American revolutionary Grace Lee Boggs, who turned 100 on June 27. Her early accomplishments include translating Karl Marx’s Economic and Philosophical Manuscripts of 1844 into English for the first time. In the 1950s, she, along with C.L.R. James and Cornelius Castoriadis, co-authored Facing Reality, a key work which laid the groundwork for new radical Marxist movements which rejected the concept of the Leninist vanguard party. Later, she devoted herself to the civil rights and black power movements. Her activism led the FBI to label her one of the most dangerous black radicals in the U.S.A. – an unusual distinction for someone whose parents were both Chinese-Americans. Still later, she devoted herself to community organizing in Detroit, where she still lives, always insisting that while organizing should be locally based, the ultimate goal of organizing has to be revolution.