Neo-liberal Economics

Today the IMF and Europe agreed to a €130 billion bailout package to Greece.

Greece has been under intense pressure recently. The economic crisis plunged Greece, like many other nations, into tough economic times.

As Greece has maintained consistently high levels of debt over many years, the downturns in their shipping and tourism economies have meant that they have required more and more debt in order to keep paying their bills.

However there has been a catch.

American debt-rating agencies (companies which essentially set out how much it will cost to take out a loan) recently said Greece might not pay back its debts.

Greek Prime-Minster George Papandreou has even stated that Greece is being 'attacked' on purpose.

Speaking in the Guardian he said, "This is an attack on the eurozone by certain other interests, political or financial, and often countries are being used as the weak link, if you like, of the eurozone. We are being targeted, particularly with an ulterior motive or agenda, and of course there is speculation in the world markets."

So few people are lending Greece money. This has made it impossible for Greece to get the loans it needs to keep running the country and pay back the loans it has already taken out.

And the 'shock' of the Greece financial situation is being used to destroy Greece's welfare state in what is being reported as "the most drastic overhaul of a European economy ever attempted."

OCAP Promo Video.

OCAP Action on September 26:
Raise the Rates! Mass Panhandle!
11:30 A.M. METRO PARK
(Queen and Church)

City-Wide Demonstration converging @ Queen's Park
2 P.M.

On Wednesday, September 26, a broad coalition of community
organizations, trade unions, health providers and low income people will be challenging Queen's Park to increase social assistance by 40%, raise the minimum wage, build affordable and accessible housing, and implement a Don't Ask-Don't Tell policy .

There will be a rally at the Ontario Legislature under the name of ˜Toronto Anti Poverty". Many of the organizations participating in the event, will hold their own actions on that day before marching on the Legislature for the united event.

For more information about the Day of Action HERE.