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by Institute for Global Dialogue

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by Institute for Global Dialogue

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The Greek Crisis and its Implications for the Global South

The mobilisation around the referendum undeniably constituted a Gramscian moment when 61% of the Greeks voted against the austerity measures. As usual with liberal-democratic elections, the left-wing wins when there is an upturn in social class strife. The Tsipras leadership, unfortunately, were flabbergasted by this outcome as they expected a narrow victory and did not have a strategy in place about how to move forward.

Nevertheless, the aftermath of the referendum could not prevent the Greek workers from being humiliated by the diktats of the troika that compelled the entire country to be subjected to their rapacious ideology. Consequently, the unemployment rate in Greece hovers around Great Depression levels of 24,9% (May 2015), while youth unemployment is 49,7% (March 2015).

Source: The Namibian/Shaun Whittaker
Available: http://www.namibian.com.na/indexx.php?id=31491&page_type=story_detail&category_id=3 

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