Yanis Varoufakis

The Greek government, under intense pressure from the troika of its lenders (IMF-EU-ECB), is about to give the wheel of depression another, powerful turn. At a time when national income is shrinking at a rate not seen since the Great Depression in any post-feudal society, in an economy where the circuits of credit (not just the banking sector) have been utterly and truly dismantled, and against a background of the greatest fiscal squeeze ever attempted in peacetime, Greece’s creditors are imposing upon the country another fiscal contraction even greater than before.

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