Confronting Economic Apartheid

The battle between popular will and the demands of corporate oligarchs, as they plunge greater and greater numbers of people around the globe into poverty and despair, is becoming increasingly volatile. Ali noted that even those leaders with an understanding of the destructive force of unfettered capitalism—such as the new, left-wing prime minister of Greece, Alexis Tsipras—remain intimidated by the economic and military power at the disposal of the corporate elites. This is largely why Tsipras and his finance minister, Yanis Varoufakis, bowed to the demands of European banks for a four-month extension of the current $272 billion bailout for Greece. The Greek leaders were forced to promise to commit to more punishing economic reforms and to walk back from the pre-election promise of Tsipras’ ruling Syriza party to write off a large part of Greece’s sovereign debt. Greece’s debt is 175 percent of its GDP. This four-month deal, as Ali pointed out, is a delaying tactic, one that threatens to weaken widespread Greek support for Syriza. Greece cannot sustain its debt obligations. Greece and European authorities will have to collide. And this collision could trigger a financial meltdown in Greece, see it break free from the eurozone, and spawn popular upheavals in Spain, Portugal and Italy.

The cost of open defiance, which, Ali pointed out, is our only escape route from corporate tyranny, will at least at first be painful. Our corporate masters do not intend to release their death grip without a brutal fight.

Chris Hedges on Tariq Ali.


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