If the Greek experience is meant to provide a hint of a future created in the likeness and image of the neo-liberal ideal, then it is easy to understand why the year 2012 has been touted in mystical circles as the end of the world. The Caribbean, which has no historical claims to belonging to the European family, must no doubt be cringing in anxiety at what its own future will hold since we believe firmly in the idea that “charity begins at home”. The question must be: “If this is done to Greece, then what will become of us?”
Despite the outward pessimism associated with these developments, however, the lessons of Greece may offer some important insights to those open and willing to learn from the sad experiences of the Greek working people.
The first lesson is for those who insist that we have “no choice” but to adjust to neo-liberal demands for the scaling-down of state expenditure on social services. Note how the goalpost has been continually shifted. Despite Greece’s sacrifices, the European masters appear never to be satisfied. Thus, the people are coaxed to endure pain in the hope of a payout that never comes. Caribbean states who have borne austerity in the hope of avoiding “downgrades” or receiving International Monetary Fund approval must note carefully the futility of their misplaced expectations.
A second lesson is the “double standard” of the neo-liberal ideological claims. From the neo-liberal perspective, any public support offered to private capital accumulation is logical, good, just or simply “correct”. In contrast, direct state support to vulnerable populations is an affront to common sense.
The unfolding of this double standard has been seen clearly in the fact that while the European central banks lent the peoples’ money to failed European banks at ridiculously low interest rates as a response to an economic crisis which the banks themselves initiated, the Greek people are now being bled to death for a far lower level of financial support from their own tax revenues, which ironically continue to be withheld.
These ironies should not be lost on the Caribbean people who are themselves locked in “too big to fail” debates which revolve around the use of public funds to support private ventures, while at the same time being asked to accept reduced salaries and reduced social spending.
Finally, the Caribbean should note carefully the threats to democracy. There is a loud cry in Europe for Greece to postpone its April elections since the neo-liberals are harbouring doubts that any new government may be committed to prescribed austerity. The Caribbean people who jealously guard their sovereignty and their democracy have now been provided with clear proof that the further entrenchment of neo-liberal ideology can lead inexorably to the reversal of hard-won democratic achievements. Open your eyes!!