[WSF-Discuss] Fw: [money_banks_crisis] Solidarity - Greece - 5th May

kolya abramsky kolyaab at yahoo.co.uk
Thu Apr 29 12:14:09 CDT 2010

--- On Thu, 29/4/10, Alexis J. Passadakis <passadakis at gmx.net> wrote:

From: Alexis J. Passadakis <passadakis at gmx.net>
Subject: [money_banks_crisis] Solidarity - Greece - 5th May
To: money_banks_crisis at lists.riseup.net
Date: Thursday, 29 April, 2010, 18:10

-------- Original-Nachricht --------
Betreff:     [fse-esf] Greece in front of the abyss
Datum:     Wed, 28 Apr 2010 10:37:59 +0200
Von:     Yannis Almpanis <yannisalmpanis at hotmail.com>
An:     ESF <fse-esf at lists.fse-esf.org>, Social Movements
<social-movements at lists.riseup.net>

Dear all,

the financial situation in Greece is getting worse everyday. For the
time being, it is impossible for the country to borrow from the
financial markets. The rate of interest for the Greek 10 years bonds is
10,55% (18,50% for the 2 years bonds). In reality nobody wants to lend

The government tries to speed up the process of the EU-IMF aid. If they
don't get the money until May 18, the state will be obliged to suspend
payments. Nevertheless, the terms imposed by Germany and IMF for the
loan will cause a real social disaster. Our European “partners” demand:
15% reduction in salaries both in private and public sector, increase of
the age limit before retirement to 67 years, decrease of the pensions,
thousands (maybe hundreds of thousands) of job cuts in the public
sector, abolition of collective labour agreements between trade unions
and employers, abolition of any legal restriction in job-cuts in the
private sector, cuts in public expenditure (it is already announced that
next year the pupils in every class will go from 25 to more than 30). As
you understand this is the worst possible IMF plan.

But it is highly possible that the situation will finally get out of
control even with this catastrophic plan. Many people compare the
situation with that of Argentina. First of all, there is a wave of money
withdrawal of the banks. Rich and middle class people are afraid that
the Germans will kick Greece out of the euro-zone. They are trying to
save their Euros by transferring them to Cyprus or by making real-estate
investments in London (some just keep the at home...). In addition to
that, as the time goes by, it seems impossible that Greece will be able
to pay its debt event with the IMF aid. It is said that among the five
next GNP, the one should be used to pay the public debt.

In conclusion, Greece is in front of the abyss.

*On May 5, there will be a general strike in Greece. It would be a good
idea for the European movements to make of this day a day of solidarity
to the Greek people and international resistance to the IMF-EU
neoliberal policies.*

P.S. When I started to write this note at 11:00 the rate of interest it
was 10,58. Now it is 11:25 and the rate is 10,85%...

Yannis Almpanis (member of the Network for Political and Social Rights)

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