Milios urges the government to delay payments towards the creditors

The only way out of the deadlock is to delay payments towards the creditors, claims SYRIZA’s political committee member and…

The only way out of the deadlock is to delay payments towards the creditors, claims SYRIZA’s political committee member and professor of political economy Yannis Milios, in a post on his Facebook account.

Mr. Milios explained that since Greece’s creditors are “indifferent towards democracy and the Greek people and demand that continuation of austerity”, then Athens should suspend payments until an agreement can be reached. He adds that Greece would still remain within the Eurozone, since a “‘monetary’ devaluation of the purchasing power and living standards of the social majority and equally undesirable to the ‘internal devaluation’”.

Furthermore, Mr. Milios points out how the continuation of austerity – the cornerstone of neoliberal policy – will further reduce worker rights, the welfare state and living standards of the social majority, towards the benefits of capital interests. The governing elites within Eurozone, he adds, have also decided to take advantage of crises to further entrench their neoliberal policies.

The SYRIZA officer explains that loan payment delays will not trigger a “Grexit”, since a return to the drachma would change the Eurozone from a single currency area into a zone of fixed exchange rates, the stability (and existence) of which would soon collapse, as a result of the “currency risks” that would follow after the first Eurozone departure.

Mr. Milios concludes that the government must resist the neoliberal policies and work towards redistributing the weight of reconstructing the Greek economy, by alleviating the social majority and reversing the austerity policies that benefit the few.

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