The Column

Following the referendum in Greece it is time to think further about the geopolitical sea change indicated by the European economic crisis. There is tangible shock, even among some conservative commentators, at the zealotry that is still being displayed by Greece’s creditors, who continue to refuse the Syriza-led government any alternative to indefinite debt bondage despite a decisive popular rejection of the bailout proposals.

That Greece was allowed to miss last week’s deadline to repay the International Monetary Fund because of the refusal of the ‘troika’ (European Commission, European Central Bank and International Monetary Fund) to compromise, was indeed a striking display of neoliberal dogmatism. Many across Europe have been keen to demonstrate their solidarity with the Greek people whose living standards are being decimated under perpetual austerity and whose situation is likely only to get worse. Yet, perhaps a further, more unsavoury element underlies our reaction to the Greek crisis. What has…

View original post 1,268 more words