1. Burdened with Debt Reloaded: The Politics ofr Devaluation
   Resource Type: Article
   First Published: 2012
   A series of defensive and sectional struggles at workplaces in the private sector reveal that the Greek industrial capital has already taken advantage of the new institutional framework of the “state of emergency” now ruling in Greece to prop up its profitability or just transfer its own debts and losses onto the workers.
2. Connexions
   Volume 11, Number 1 - Spring 1987 - A Digest of Resources and Groups for Social Change
   Resource Type: Serial Publication (Periodical)
   First Published: 1987
   
3. Connexions Digest
   Volume 12, Number 2 - Issue 48 - Winter 1988-89 - A Social Change Sourcebook
   Resource Type: Serial Publication (Periodical)
   First Published: 1989
   
4. Euro Banks vs. Greek Labor
   Varoufakis is Proposing Austerity on the Banking Class
   Resource Type: Article
   First Published: 2015
   Interview with Michael Hudson, professor of economics at the University of Missouri-Kansas City about the current economic situation of Greece.
5. Europe's Leaders Visit Athens to Celebrate Their Failure
   Resource Type: Article
   First Published: 2014
   The start of Greece's six-month presidency of the EU was marked by a ceremony in the Greek capital attended by the EU commissioners. But protests were banned and there was no in-depth talk about the raging controversy over the bloc's handling of the Greek debt crisis and the renewed concerns about the vitality of the Eurozone.
6. Europe's New Road to Serfdom
   Trichet Threatens Greece with Iron Heel
   Resource Type: Article
   First Published: 2011
   The conditios for Greece's new loan package is that Greece must initiate a class war by raising its taxes, lowering its social spending – and even private-sector pensions – and sell off public land, tourist sites, islands, ports, water and sewer facilities. This will raise the cost of living and doing business, eroding the nation’s already limited export competitiveness. The bankers sanctimoniously depict this as a “rescue” of Greek finances.
7. The Housing Mess
   Against The Current vol. 135
   Resource Type: Article
   First Published: 2008
   Despite recent CNBC and MSNBC media hosts suggesting we may be at the ‘bottom’ of the housing market crisis, and Market Watch June 3rd commentary headlines like “Housing market may turn more quickly than you expect,” statistics continue to say otherwise, in sobering fashion.
8. The new colonialism: Greece and Ukraine
   Resource Type: Article
   First Published: 2015
   According to Jack Rasmus, aA new form of colonialism is emerging in Europe. Not colonialism imposed by military conquest and occupation, as in the 19th century. Not even the more efficient form of economic colonialism pioneered by the U.S. in the post-1945 period, where the costs of direct administration and military occupation were replaced with compliant local elites allowed to share in the wealth extracted in exchange for being allowed to rule on behalf of the colonizers. In the 21st century, it is 'colonialism by means of financial asset transfer.' It is colony wealth extraction by colonizing country managers, assigned to directly administer the processes in the colony by which financial assets are to be transferred. This new form of colonialism by direct management plus financial wealth transfer is now emerging in Greece and Ukraine.
9. Puerto Rico's default is fine, as long as Wall Street is repaid
   Resource Type: Article
   First Published: 2015
   On August 1, 2015, Puerto Rico defaulted on part of its enormous $72 billion debt, paying back only $628,000 on a relatively small $58 million loan that was due at the start of the month. The default, which marks the most serious credit event in US public bond markets since the city of Detroit filed for bankruptcy in 2013, has led many to draw obvious comparisons to Greece – and understandably so.
10. The Third World Debt: The Comforts of Newspaper Pie
    Resource Type: Article
    First Published: 1991
    Canadians are unaffected by the Third World, since most of it arrives in the form of newspaper headlines.
11. Wall Street and the Greek Financial Crisis
    Resource Type: Article
    First Published: 2015
    Michael Hudson and Bill Black zero in on some of the key elements of the crisis. They point out that it is not really 'Greece', let alone the Greek people, who have contracted this debt and who have been bailed out until now.
12. A World at Financial War
    Will Greece Let EU Central Bankers Destroy Democracy?
    Resource Type: Article
    First Published: 2011
    The crisis for Greece – as for Iceland, Ireland and debt-plagued economies capped by the United States – is occurring as bank lobbyists demand that “taxpayers” pay for the bailouts of bad speculations and government debts stemming largely from tax cuts for the rich and for real estate, shifting the fiscal burden as well as the debt burden onto labor and industry. The financial sector’s growing power to achieve this tax favoritism is crippling economies, driving them further into reliance on yet more debt financing to remain solvent.

Experts on Umschuldung in the Sources Directory

1. World Bank