Griechenland: There’s only one thing left …

April 1, 2010

Die beste Analyse kommt von der griechischen Klassenfront: „A report on the working class struggles against austerity measures in Greece by Proles and Poor’s Credit Rating Agency aka TPTG a greek autonomous communist group.“

There’s only one thing left to settle: our accounts with capital and its state – TPTG

In periods of crisis, such as the current period of overaccumulation crisis, capitalists use the politics of “public debt” in order to devise new ways to intensify exploitation. In contrast with capitalist upturns when the private debt is increased, downturns are characterized by the increase of the “public debt”. Private investment in state bonds ensures profits which are extracted from the direct and indirect taxation of the workers, aiming towards interest repayments, and leading, ultimately, to the reinforcement of the banking sector capital. Therefore, the “public debt”, contrary to what is usually said, provides help to private capital and, in this respect, should be counted in its profits.

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