Trichet Threatens Greece with Iron Heel

By MICHAEL HUDSON

Greece and Ireland have become the litmus test for whether economies will be sacrificed in attempts to pay debts that [>] cannot be paid.

An interregnum is threatened during which the road [>] to default and permanent austerity will carve out more and more land and public enterprises from the public domain, divert more and more consumer income to pay debt service and taxes for governments to pay bondholders, and more business income to pay the bankers.

If this is not war, what is?

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