Tuesday 30 May 2017

Global corporatism is preying on the wealth of nations

Greek premier Alexis Tsipras has much to ponder
Greek premier Alexis Tsipras has much to ponder
Letters to the Editor

Letters to the Editor

What is being presented as an €86bn "rescue package" for Greece in the form of a bailout is actually a wholesale transfer of public assets into private hands, with Greek airports, sea ports, public utilities and land up for sale to the higher bidder.

Even stretches of the Corfu beachfront have already been snapped up by a US equity firm. Water services in Athens and Thessaloniki have to be sold off, despite the fact that the international trend is towards returning privatised water services to public ownership. More than 180 cities and communities in 35 countries, including Berlin, Stuttgart and Hamburg in Germany, have taken back control of their water services from private operators in the past 15 years.

The private corporations, such as the Russian oligarchs in 1990s after the collapse of the USSR, can look forward to making a killing in the great Greek sell-off. Meanwhile, the outlook for ordinary people is grim - Oxfam reports that more than million people in Greece, or 17.5pc of the population, live in households with no income. Newborn babies are being abandoned in hospitals because mothers cannot pay the €600 fee for childbirth.

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