By Mike Treen, Unite National Director
(Reprinted from The Daily Blog)
The SYRIZA (Coalition of the Radical Left) election in Greece has opened up enormous opportunities to turn the tide against the anti-working class austerity policies that have been imposed in that country above all but also elsewhere in Europe. This small European country of less than 12 million people is becoming a world leader.
Syriza leader Alexis Tsipras, left, with Pablo Iglesias, the leader of the leftwing Podemos party in Spain
Following the world recession of 2008-10 the capitalist institutions dubbed “The Troika” (The European Commission, European Central Bank and International Monetary Fund) used the crisis to impose austerity policies on all European countries as a condition of receiving the financial support they needed to “save” the banking system of each country and prevent a further decent into chaos. Essentially the bank debts were taken over by the the public and made a public liability. Servicing the increased public debts of course required cuts in other government expenditures. Austerity became the order of the day. Europe has been mired in economic stagnation virtually ever since.