Occupy Protesters in Chicago Understand the Reality of Modern Day Political Reality
Police in Chicago have spent $1m on riot-control equipment in the last few months ahead of next month’s Nato summit, which is expected to attract thousands of anti-war protesters.
Protesters from a coalition of organisations including unions, anti-war and Occupy groups are expected to descend on the city. National Nurses United, the largest nurses’ union in the US, is providing free buses to Chicago for activists from across the country even as its own plans to demonstrate were vetoed by the city of Chicago on Tuesday.
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Posted in Economics, recession, income redistribution, Politics, tagged drachma, euro, Eurozone, Germany, Greece, Recession on Jam5000000amFri, 11 May 2012 08:59:29 +000012 10, 2010 |
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The Greek government is limited in its abilities to use fiscal policy to stimulate its economy because Greece is attached to the euro. Germany governs how and when an expansion of the euro will take place, and the Germans are mostly worried about inflation, which is not a problem that Greece has. Attachment to the euro has created a disaster for Greece. Now the government there is preparing to leave the Eurozone. Staying in the eurozone redistributes income from Greek citizens to foreign bankers because the government needs to borrow money in order to stimulate the economy, and the terms of the borrowing has been onerous for the citizens of Greece since linkage to the euro has pushed the nation into a deep and long lasting recession since 2009.
Banks prepare for the return of the Greek drachma
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