News Release

Greece: From the Frying Pan, Into the Fire?


MARK WEISBROT, mweisbrot at; also via Dan Beeton, beeton at
Weisbrot is co-director of the Center for Economic and Policy Research and is just back from Europe. The group recently released a statement: “G20 Continues With Failed Policies in Europe, Putting Regional and Global Economy at Risk.”

COSTAS PANAYOTAKIS, [in NYC] cpanayotakis at
Panayotakis is associate professor of sociology at the New York City College of Technology at CUNY and author of the forthcoming book Remaking Scarcity: From Capitalist Inefficiency to Economic Democracy. He said today: “Far from ending the Greek and eurozone crisis, the announcement of a new coalition government in Greece will signal the continuation of the harsh austerity policies that have thrown the country and large parts of Europe into a deepening depression. To add insult to injury, media reports indicate that Greece’s new prime minister is likely to be a banker, Lucas Papademos, who enjoys the trust of European political and economic elites much more than elected politicians who might on occasion feel compelled to pay attention to what Greek citizens feel about the destructive impact of the harsh austerity measures that the latest European agreement requires of Greece.”

Panayotakis recently wrote the piece “Change the World, Occupy that Square.

He also wrote the piece “Greeks on the Move: Capitalism’s Wreckage and the Demand for Real Democracy.”