So the Greek left wing political party that was elected on an anti austerity platform has been humiliated. They have not only just had to make a huge U-turn but have now had to accept austerity terms far worse that the ones on the table a few weeks ago and their naive tactics were nothing more than a gamble and have totally failed as they in fact became the first to blink. I wonder if they have finally learnt that he who pays the piper calls the tune or perhaps they still think this a myth?

Although the current government are not directly responsible for the historical economic woes of Greece they are yet another Greek government that has failed the poor people of Greece. Before they were elected there was at least some growth but six months of these lefties has seen that disappear into the blue.

This Greek tragedy is not over by any means but just another chapter in the long running saga of this totally discredited single currency being constantly defibrillated for political reasons.

Austerity is naïve, and is a very reductionist view that a national economy works the same way as a household budget.
I've said it a couple of times now but, the debt needs to be written off, not just in Greece but, globally. Private debt is the real problem though, and is what will have the most impact on living standards. Again, either this debt should be written off, or the bailout money should go to the people in order to pay off their own debt (most of which I'd imagine would go to the banks anyway), which through ordinary circumstances won't be repaid. But, no. The banks get the bailout money, and they can continue to use the debts of their customers to speculate with other peoples money, to inflate housing and stock prices, instead of lending money to small businesses to increase productivity and jobs.

So, in short this left wing/right side show needs to cease, and it's about time the powers that be think realistically about the debt crisis and admit that debt that can't be repaid, won't be repaid.

The longer this has gone on though, the more it's looked like an engineered collapse, in order to bring about further "centralisation" of power to EU, and IMF.

It'll be interesting to see what happens at the UN Climate Change Summit hosted in France this year. Whilst the news has spent very little time covering it Pope Francis is right now threatening to declare the entire corporate-capitalist model responsible for potentially catastrophic climate change.

The significance of this threat cannot be over-stated. In Britain we love to declare religion dead but the truth of the matter is that ever since Pope John Paul embarked on his highly-successful global recruitment campaign the Catholic Church has swelled its ranks to bursting point.

Previously the Vatican has taken something of an inconsistent stance on the issue of capitalism and its consequences. But the stepping down of Pope Benedict in favour of Pope Francis is the consequence of an internal battle which has been raging within the Vatican for the best part of twenty years. Francis is the first member of the Jesuit order to become Pope. This is significant because the Jesuit order really has been at the forefront of anti-capitalist sentiment for many years now.

If these talks fail Francis has let it be known that he will sign off on a Papal Encyclical declaring the entire system of global capitalism "Sinful". I really can't stress just how mind-boggling this warning is. Popes are not in the habit of making idle threats. Upon signing such a declaration papal law dictates that it must be distributed immediately among all approx. 1.2 BILLION Catholics around the globe.

Who'd have thought the Pope would turn asskicker and take the fight to Capitalism draped in ammunition belts and dual-wielding M60s?

[size[i"They drew first blood. Not me!" Brrrr!!! Brrrrr!!!!! Brrrrrr!!!! Brrrrr!!!!"[/i[/size

The thing is, we don't have real capitalism, we have a crony-capitalist oligarchy. Entrepreneurship is at an all time low, as new, local businesses are squashed and hoovered up by the juggernaut of corporatism through artificially low prices, and over regulation, while the banking sector is for all intent and purposes give a free reign.
The too big to fail leviathan that is the banking sector is, more interested in inflating bubbles, and gambling with our money, and holding us hostage through debt, than lending to small businesses to help them grow.

I'm not sure what difference the Pope's anti-capitalist rhetoric will make, unless he can turn a few slices bread, and a haddock into an army.

I agree with this analysis. They have made a bad situation worse.

It's a mistake to use any kind of -ism to describe what's happening. By doing so you fall into the trap of ideological zealotry which only ever results in interminable and counter-productive societal divisions.

These people have no ideology other than whatever-it-takes-to-get-what-I-want.



Just because you live in a developed Western state where the Catholic church's influence is relatively small don't for one minute think this is representative of the whole.

The overwhelming majority of Catholics live in societies where the church is a major political force. Take South America for instance. For the best part of forty years the Catholic church has been the only force in politics which has not only stood up to US aggression - it actually went on the offensive. At one point the Liberation Theology movement became such a thorn in Washington's side the US State Department actually pressured the Vatican under Pope John Paul into distancing itself from LT's socio-political position.

Ratzinger did his best to shore up the traditionalist bloc during his time but as stated, this was an internal struggle within the church which had been threatening to boil over for some time now.

The moment Ratzinger stood down the Jesuits were ready and with the election of Pope Francis the damn has finally broke.

If there's one thing which terrifies big business even more than state governments its a militant church. There's a reason these institutions have survived intact for thousands of years. Think about it - there isn't a social, political or philosophical movement which has EVER EXISTED which can match what the church provides - salvation in the afterlife.

Sure, it's baloney. But it's the most seductive baloney ever devised. It appeals to an inner fear all of us experience in some form or another in life. I mean, who wants it all to end with their last breath? And as they say ... [i"No atheists in the foxholes"[/i. Powerful voodoo.

So yes - a Papal Encyclical means something - and to a great many people. Perhaps we won't see much direct effect here in the UK. But you can bet your behind it means problems for corporations who rely on the exploitation of the poor all across the globe - the indirect effects of which we would certainly feel here.

The Catholic Church is hardly blame free when it comes to using up the worlds natural resources, with its anti-abortion/anti-contraception stance increasing the world's population.

If we are going to play the "Blame Game" I'd be careful because there's PLENTY of it to go around.

But one thing is for sure - if there is to be any kind of pushback exerted against trans-national capital it will require the combined efforts of groups who have previously been unable or unwilling to settle their differences. As long as people remain divided they will forever be victims of this insanity.

Compare the OP's post with this overview from respected economist, Mariana Mazzucato

rlGreece and the EU, a macro and micro mess-uprl

Mazzucato is always a good read. Unfortunately, economists like him are rarely involved in formulating economic policy. A more 'neo-classical' or 'distorted Keynesian' approach is favoured.

I agree, it would certainly cause a stir but, we all know what happens when those pesky South Americans try and reclaim their economic freedom...

www.bbc.co.uk/news/business-33521235 Of course, you'd expect people to be going to prison, right? Don't be ridiculous.

www.bbc.co.uk/news/business-33521235 Of course, you'd expect people to be going to prison, right? Don't be ridiculous.

A slap on the wrist and as you were.