11 May, 2010 — Democracy Now!
The European Union and the International Monetary Fund have approved a nearly $1 trillion package to stop Greece’s debt crisis from spilling beyond its borders into the rest of the eurozone. Stocks surged in Europe, Asia and the United States Monday after EU leaders agreed to a $960 billion package to contain Greece’s financial troubles. Meanwhile, the austerity measures demanded by the IMF and the European Union as a condition of their loan are continuing to exact their toll. Greece’s two main unions have continued to hold protests against the reforms. In a statement, one of the unions said, ‘The crisis should be paid by…all those who looted public finances.’ Last week nearly 100,000 people participated in a mass demonstration and a twenty-four-hour general strike against the austerity measures.
Tariq Ali, longtime political commentator who has written more than two dozen books on world history and politics, seven novels and scripts for the stage and screen. He is an editor of the New Left Review, where his most recent article is about President Obama at war and titled ‘President of Cant.’ His latest book, published last month, is the concluding novel of his Islam Quintet, titled Night of the Golden Butterfly.
Mark Weisbrot, co-director of the Center for Economic and Policy Research and has written on the situation in Greece for the Guardian of London. His latest piece, pending publication, is titled ‘The European Union’s Dangerous Game.’