It's been seven years since the outbreak of the Greek debt crisis, yet Greece -- the country that gave birth to democracy -- is still stuck in a vicious cycle of debt, austerity and high unemployment. Three consecutive bailout programs have deprived the nation of its fiscal sovereignty, transferred many of its publicly owned assets and resources into private hands (virtually all of foreign origin), produced the collapse of the public health care system, slashed wages, salaries and pensions by as much as 50 percent, and led to a massive exodus of its skilled and educated labor force. As for democracy, it has been seriously constrained since the moment the first bailout went into effect, back in May 2010, as all governments that have come to power have pledged allegiance to the international actors and agencies behind the bailout plans -- the European Commission, the European Central Bank and the International Monetary Fund (IMF) -- and follow closely and obediently their commands, irrespective of the needs and wishes of the Greek people.
C.J. Polychroniou and Nikolaos Karagiannis