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Thursday, 16 June 2011

Greece. Is the capitalist system about to collapse?

There are 3 major factors to lead to the move by Prime Minister Papandreou yesterday to approach Samaras, opposition and conservative leader, with a view to forming a government of 'national unity'. This move would have been unthinkable a few months ago and and it has never happened before.

The 3 factors which lead to this situation are, the huge uprising of the Greek people who are constantly on the streets of the major cities, pressure from the markets and the draconian measures imposed on the country by the EU.

Whatever happens after today the fact is that George Papandreou has effectively resigned his position and he can no longer be the PM. It remains to be seen if a coalition can be formed by the two major parties, PASOK (Socilist) and ND (Conservative) the other profound change that I have noticed when I was in Athens recently is that those demonstrating on the streets are from all walks of life, anarchists, communists, right and left wingers. Can capitalism collapse under these circumstances?

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