Quote of the day

Serge Halami of Le Monde Diplomatique appropriately compared the recent European Union, European Central Bank and International Monetary Fund (“the troika”) intervention in Greece’s affairs to the Soviet Union’s termination of the Prague Spring:

For people in countries suffering under austerity measures, the history of Europe provides some outstanding examples. In some ways, recent events in Athens recall Czechoslovakia in 1968: the crushing of the Prague Spring and the removal of the Communist leader Alexander Dubcek. The troika has played the same part in reducing Greece to a protectorate as the Warsaw Pact did in Czechoslovakia, with Papandreou in the role of Dubcek, but a Dubcek who would never have dared to resist. The doctrine of limited sovereignty has been applied, though admittedly it is preferable and less immediately lethal to have its parameters set by rating agencies rather than by Russian tanks rolling over the borders.

Having crushed Greece and Italy, the EU and the IMF have now set their sights on Hungary and Spain.

Both interventions were intended to undermine democratic accountability in a peripheral state. Both, by the way, were successful.

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