It's clear that punishing the poor will only deepen the recession – so why are the IMF technocrats intent on further austerity? During an official visit to the LSE in November 2008, the Queen asked a professor why economists had failed to predict the financial crash, the most dramatic event in recent economic history. The professor's answer is not known. A year later, after a British Academy seminar, eminen ...

By George Friedman at  STRATFOR Everyone is wondering about the next disaster to befall Europe. Italy is one focus; Spain is also a possibility. But these crises are already under way. Instead, the next crisis will be political, not in the sense of what conventional politician is going to become prime minister, but in the deeper sense of whether Europe’s political elite can retain power, or whether new poli ...

El Pais asked me to write a piece on the ‘fiscal disobedience’ movement that seems to be shaping up in Greece. Here is what I wrote. (I shall post the Spanish version, off El Pais’ site, when available):  “Can’t pay won’t pay”, was Dario Fo’s boisterous satirical play by which the playwright incited his audience to rethink their political responsibilities. During the past two years, here in Greece, a sponta ...

Costas Douzinas for guardian.co.uk The workers in a small bakery in central Athens announced this week that, while they would not close because they serve many vulnerable people, they were joining the two-day general strike by charging all products at cost. An unexpected surprise in these hard times for their customers, but an ordinary story of the life of resistance and kindness in the Greek capital. At th ...

Photo report from General strike on 19th of October in Athens. . 1343861 . by http://athens.indymedia.org/front.php3?lang=el&article_id=1343855 ...

The past two years the Greek population is witnessing the harshest austerity measures since the introduction of the Euro. Greece became the ‘black sheep’-member of the European Union and had to be punished hard. In 2010 the first austerity package was imposed by the Greek government under the commands of the Troika (the IMF, the EU and the ECB). As a result, last month unemployment reached 18% and 40% among ...

By James Gallagher Health reporter, BBC News Researchers have issued a warning about the health of people in Greece in the wake of the financial crisis. Writing in The Lancet, they said cuts to hospitals' budgets meant they were being overstretched. More people were reporting "bad health" and HIV infections were on the increase, the authors warned. While public health experts said the picture was "concernin ...

A year ago he tried to set him self on fire in a branch of Piraeus Bank in the corner with Tsimiski and National Defense in Thessaloniki. Today he returned... The 54 year old shouted that he was drawing in debts and that they where trying to burn him alive, along with his family. He was holding a petrol tank which he used to pour petrol on him and, later, managed to set him self on fire! Policemen from the ...

By Peter Schwarz 8 October 2011 The European institutions have clearly changed course in relation to Greece. Instead of the “rescue” of the country, they are now discussing its bankruptcy, and reducing the risk of contagion. The euro rescue fund, supposed to guarantee Greece’s solvency, is being used to secure the creditor banks against the consequences of state bankruptcy. The change of course has happened ...

In Athens, thousands are marching at the General Strike demonstration – it is estimated that the ADEDY (public servants’ union) demo alone has more than 10,000 participating. Demonstrators from the union’s march tried to push down the police fence outside parliament and were tear-gassed by police. At least four detentions have been reported so far, including 17-year olds. There is also at least one confirme ...