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Who’s Extorting Whom? It’s All About Coercion

Weisbrot, M. (2015) “Who’s Extorting Whom? It’s All About Coercion“, The Huffington Post, 17 Φεβρουαρίου.

 

The Economist‘s Feb. 6 cover displayed the Venus de Milo statue pointing a revolver, with the headline “Go ahead, Angela, make my day.” In the editors’ upside-down world, Greece is threatening Europe, or at least Germany. Really?

On Monday, Feb. 16, European officials “handed Athens an ultimatum: Agree by Friday to continue with a bailout program or risk the funding that the country needs to avoid a default,” The New York Times reported.

Then there is Wolfgang Schäuble, Germany’s finance minister and die-hard supporter of the failed austerity policies that brought Greece six years of depression. On Feb. 11, according to the Financial Times, he “hinted darkly that a Greek plan to leave the bailout at the end of the month could draw a harsh reaction from financial markets.”

“I wouldn’t know how financial markets will handle it, without a programme — but maybe [Greek Prime Minister Alexis Tsipras] knows better.”

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