The Jubilee Debt Campaign (JDC) released figures in April showing the International Monetary Fund had made €2.5 billion of profit out of its loans to Greece since 2010.
With Greece missing its June 30, deadline for a €1.6 billion payment to the IMF, the figure fell to €900 billion. But JDC said if Greece repays the IMF in full, the figure will rise to €4.3 billion by 2024.
Democracy
“When I graduated from high school - Catholic high school - in 1983, I didn't even think that this would ever be on the map,” said Jeff Mead, now a middle school teacher from San Francisco. The “map” that Mead was referring to took on a drastically new appearance on June 26 when the US Supreme Court announced its five-four decision to strike down state laws banning same-sex marriage. This effectively legalised such marriages across the US.
YPJ fighters defending Kobanê, June 26. Photo: ypgrojava.com.
The “Islamic State” (IS) terror group attacks in Tunisia, Kuwait and France have grabbed global attention and condemnation. But the group's attack on Kobane in Rojava (Syrian Kurdistan) — and the fierce resistance — has been largely ignored.
Venezuelan President Nicolas Maduro voiced solidarity with the Greek government of Alexis Tsipras on June 30 after Greece failed to pay US$1.8 billion to the International Monetary Fund (IMF), Venezuelanalysis.com said on July 1.
“I want to officially express solidarity to Prime Minister Tsipras and the Greek people on behalf of Venezuela,” Venezuela's socialist leader said on his weekly television program shortly after the IMF deadline.
President Rafael Correa called a rally on July 2 in defence of democracy and the pro-poor Citizens' Revolution his government leads after plans by the right-wing opposition for a violent coup were exposed.
“We are ready to defend the revolution against the coup plotters,” Correa told thousands of supporters gathered outside the Presidential Palace on the evening of July 2.
“We will remain firm in defending the revolution against the ultra-right.” he added.
Across Africa, western Asia and Latin America in the 1980s, the growth of per capita GDP was brought to a halt. This was not a recession, it was a severe depression. And its cause was reckless lending by banks in the ’70s.
"The 'No' rally of this evening was quite simply the biggest political rally since the fall of the dictatorship," SYRIZA activist Stathis Kouvelakis said via Facebook on July 3 of the mass rally to back the SYRIZA government's call for a "No" vote in Greece's July 5 referendum on whether to accept the crippling austerity demanded by the nation's creditors.
The ALBA bloc, comprised of 12 Latin American and Caribbean nations, expressed its support to Greece, as the Mediterranean country continues to renegotiate its debt with eurozone lenders.
In a statement June 28, the bloc, which calls itself a “People’s Trade Treaty,” said it stands with the Greek people and the SYRIZA government against the "destructive consequences of neoliberal transnational capital," which regional organization said looks to subvert Greek democracy through financial measures.
The message from the mainstream media and parties across Europe is Greece is to blame for its own predicament. But a growing grass-roots movement across the continent is pushing for an alternative approach that demands democracy, not austerity.
In a speech to the Belgian parliament on June 10, conservative Belgian Prime Minister Charles Michel declared that “the end of the Greek holiday has sounded.”
Sydney protest in solidarity with Greece, June 28. Photo by Peter Boyle
Protests are being planned in the Australian cities of Melbourne, Sydney, Canberra, Armidale and Brisbane in coming days in support of the Greek people and its elected SYRIZA-led government.
Jaime Nebot. Photo: ANDES.
Ecuadorian President Rafael Correa singled out opposition politician Jaime Nebot, who has been calling for protests against the government, as a clear example of the progress the country has made with respect to the collection of taxes.
Correa came to power in 2007. He said in 2006, Nebot paid just US$1994 in income taxes, but by last year the opposition leader was paying US$66,593.
Photo: Agencia Boliviana de Información.
Bolivia's President Evo Morales highlighted the importance of social movements in driving the changes and the economic growth experienced by the South American country in recent years.
The socialist leader, Bolivia's first-ever indigenous head of state, said on June 25 that Bolivia now had greater economic resources available due to the struggle of workers and campesinos.
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