The ruthless austerity programmes imposed on Greece and the endless cycle of debt renegotiations will only come to a close when Athens takes charge of its predicament and announces a democratic and sovereign cessation of payments.
The Irish government announcement of a €34 billion Euro bailout, two years after the financial crisis first broke, is a reminder that little has been done to prevent it happening again just as the social costs are becoming ever more evident.
During the second phase of the crisis in Europe, the attention has almost exclusively been focused on the Southern euro zone countries. However, Eastern Europe is affected as well though in an uneven way.
This second of two essays on military spending and the EU crisis, explores the role of the European arms trade, corruption and the role of arms exporting countries in fuelling a debt crisis, and why these 'odious' debts need to be written off.
A new Pan-European network to fight against the EU's austerity policies and support a fairer, greener, more democratic Europe has been launched in Brussels, following two days of discussion and debate at CEO's conference on the EU in Crisis.
On 8 June the EU Parliament will vote on our response to the Eurocrisis: sign this petition by ATTAC asking them to reject the neoliberal austerity package which will make the public pay for the bank's crimes. There are alternatives to austerity.
2011 witnessed the implementation of some of the most comprehensive undemocratic structural changes in the EU since the Lisbon Treaty. Alternative proposals for a progressive exit from the euro crisis are laid out here.
Three years since the outbreak of the global financial crisis, the banks are back making mega-profits while the burden has clearly shifted to citizens and workers. However civil society action at European level could still make a difference in reining in the financial sector.
The real news in Greece is not about riots, but of a growing number of people who have broken away from fear and decided to fight back against the austerity imposed by the 'Troika' of the European Commission, the European Central Bank and the IMF.
The Greek crisis has exposed the fundamental flaws in the Euro project: it stripped countries control over the price of money and allowed political elites to undermine Europe's post-war social contract.