In a special long-read published on his Channel 4 blog, Paul Mason offers five pictures of Greece on the verge of default.
A divided population?
As the crunch approaches the atmosphere has changed. For six months the centre right in Greece was prepared to wait and let Alexis Tsipras try—and fail—to secure a letup on austerity. Now the old political establishment has understood he intends to take this to the bitter end: a default on Greece’s June payment to the IMF, with possible dire consequences for the banks as early as Monday night.
Economically, the country is far from the visions of recovery and renewal promised by the Coalition and its media retinue. If anything, conditions are getting worse for the majority, while markets remain volatile. Underlying this trend is a continuing engrossment of wealth and privileges enjoyed by the rich. As pointed out by countless observers, while the earnings of the average employed person are either static or declining, the salaries and bonus options of the 1 per cent continue to rise. In this extract from The Extreme Centre, Tariq Ali critiques the politics of Thatcher and Blair.
The origins of the new politics are firmly rooted in Thatcher’s response to Britain’s decline. Unemployment was ruthlessly held above three million for ten years, enabling the Conservatives to push though a programme of social re-engineering – deploying state resources to crush the unions and initiate the privatization of public utilities and housing, in hopes of creating a nation of ‘property-owners and shareholders’ – that transformed the country.1 The defence industry was ring-fenced while the rest of manufacturing was handed a collective death warrant. The defeat of the miners’ strike obliterated any possibility of resistance by the trade-union leaders and the rank and file. The triumph of finance capital was now complete. The decline of large parts of the country continued apace, and in turn, the country became increasingly restive.