https://toarcheio.org To Archeio project site Mon, 20 Apr 2020 14:40:09 +0000 en-GB hourly 1 https://wordpress.org/?v=5.4.1 https://toarcheio.org/items/on-the-odiousness-of-greek-debt/ Tue, 16 Apr 2019 22:25:38 +0000 http://arc.local/items/on-the-odiousness-of-greek-debt/ Continued]]> Unlike the popular narrative, which suggests that the Greek debt crisis was the result of lavish spending, this article demonstrates that the ‘crisis’ was generated by a transformation of purely private debt into public debt. This finding is supported by the preliminary report of the Greek Parliamentary Committee on the Truth of the Greek Debt, which clearly showed that the exponential increase of private debt in Greece risked the collapse of the private financial institutions exposed to it, namely Greek, French and German banks. This resulted in pressure on the Greek government to recapitalise and nationalise Greek banks through Eurozone and IMF funding. This funding, which came to be known as ‘bailout for Greece’ was nothing more than the rescue of private banks through EU taxpayers’ money, only 5% of which went into the Greek economy. The article shows that the process by which the debt was transformed, as well as the post‐crisis bailout were odious, illegal and illegitimate and the ensuing debt itself was unsustainable and wholly against fundamental human rights.

]]> https://toarcheio.org/items/there-must-be-some-way-out-of-here-the-crisis-labour-rights-and-member-states-in-the-eye-of-the-storm/ Tue, 16 Apr 2019 22:25:23 +0000 http://arc.local/items/there-must-be-some-way-out-of-here-the-crisis-labour-rights-and-member-states-in-the-eye-of-the-storm/ Continued]]> This article considers the impact of the economic, social and political crisis on the labour law regimes of two of the Member States of the EU most affected; Greece and Ireland. Both countries have been the recipients of ‘bail‐out’ deals, negotiated and monitored by what has become known as the ‘Troika’ of the European Commission, the European Central Bank and the International Monetary Fund. The article considers the extent to which both countries have been required to make amendments to their labour law regimes as a condition of their bail‐outs. It argues that the changes demanded reflect the basic norm now governing the EU legal order, namely that of ‘competition’; the logic of market integration based on the primacy of economic competition. The article sets the reforms in Greece and Ireland within the broader context of the ‘social deficit’ problem of the EU construction.

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