Much of Europe has been plunged into austerity with draconian cuts in social services in Spain, Portugal, Ireland, Iceland, and the hardest hit, Greece. Greece has been devastated with economic figures far surpassing Great Depression figures of the US. The complete devastation of the Greek economy has also been unreported by corporate media.
Austerity occurred in Europe because of the 2008 collapse of banks and the economy, which also severely impacted the US. European vulture capitalists after the collapse, through the IMF and European Central Bank, floated huge loans to depressed countries, but the loans were never intended to help the people; they were to be used to pay off debts countries already owed to the large corporate banks. Paying back the banks was the top priority, and loans had to be used to pay back banks while the people were given no relief. In order to make payments on exorbitant loans, social services had to be slashed and mass government layoffs took place. Those who lost their social net and/or job, were taxed to pay off the loans to large banks. The banks were getting their money, however stupid and irresponsible their original loans, while the unemployed in a severely distressed economy had to pay back banks. People turned to their political parties for help, however the main parties, much like in the US, are owned by banks and financial interests, so the parties did little to help the people. Meanwhile in the past five years the economic suffering of the masses escalated. In Greece, both major parties have sold out by siding with banks, and the suffering has been horrible. Along came Syriza, an obscure third party which had about 3% of the people on its side a year ago. Syriza just won a huge victory in Greece coming from obscurity to major victory. Greek people, led by the youth, finally realized neither major party would side with them because they were owned by the financial interests, and Greeks in large numbers left the major parties and supported the third party, which has promised to take their side. This movement is not confined to Greece; it is fast becoming a pan European movement where people are finally realizing that austerity is wrong, and is just a method of taking from the poor to give to the banks. Europeans are also concluding major parties only do the bidding of the financial world, which is causing the development of true grass root third parties like Syriza.
The financial world is abuzz and very frightened, for this movement could mean great difficulty for them, and therefore used their power in Greece to distort and smear Syriza in a frantic effort to head off the movement. It did not work; the Greek people saw through it, Syriza prevailed, and now has its chance to prove that it is truly on the side of the people.
Meanwhile similar movements inspired by the rapid growth of Syriza have taken hold in Ireland, Spain, Portugal, and other places. This could be big! This could be the end of control by financial interests, and a triumph for the people, which explains the panic of the financial world.
Despite the great triumph for democracy in Greece and the growth of such movements, there is reason to be fearful. The financial interests will not surrender. Coups, revolts, and overthrows, will be orchestrated to preserve the status quo. This is the greatest threat to Wall Street and the financial world since the "Occupy movement". We saw the financial world move, first to disparage, then eliminate the Occupy movement, by using its agent, the government, in a coordinated well-orchestrated effort to smash the movement in this country. The "Occupy" movement however, managed to cast light on the 1%, the banks, Wall Street, and their power, and now lives on through Syriza and other such emerging parties.
Could the success of this movement in Europe finally get the attention of the US public, who for years has been saying both major political parties are controlled by Wall Street and large corporations? If we can forget about under-inflated footballs and focus on what is really happening, there could be an awakening here as well. Forget the major parties, as they are owned, and not by you. Your hope is for a Syriza like third party in this country. Look around and do something.