source: i believe i saw this last night in the guardian, but i couldn't locate it today. an image search (yay, google!) located it here.
in the meantime, a friend sent me this post at new economic perspectives. this is an automatic google translation into greek.
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the fight for europe’s future is being waged in athens and other greek cities to resist financial demands that are the 21st century’s version of an outright military attack. the threat of bank overlordship is not the kind of economy-killing policy that affords opportunities for heroism in armed battle, to be sure. destructive financial policies are more like an exercise in the banality of evil – in this case, the pro-creditor assumptions of the european central bank (ECB), EU and IMF (egged on by the u.s. treasury).
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the bankers are trying to get a windfall by using the debt hammer to achieve what warfare did in times past. they are demanding privatization of public assets (on credit, with tax deductibility for interest so as to leave more cash flow to pay the bankers). this transfer of land, public utilities and interest as financial booty and tribute to creditor economies is what makes financial austerity like war in its effect.
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one must conclude that the EU’s new central planners (isn’t that what hayek said was the road to serfdom?) are acting as class warriors by demanding that all losses are to be suffered by economies imposing debt deflation and permitting creditors to grab assets – as if this won’t make the problem worse. this ECB hard line is backed by u.s. treasury secretary geithner, evidently so that u.s. institutions not lose their bets on derivative plays they have written up.
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please read the whole thing.
