Streets in cities across Greece has erupted into celebrations as results from Sunday鈥檚 referendum showed voters clearly rejecting the bailout terms put forward by the country鈥檚 lenders.
Greece
Across Africa, western Asia and Latin America in the 1980s, the growth of per capita GDP was brought to a halt. This was not a recession, it was a severe depression. And its cause was reckless lending by banks in the 鈥70s.
The Jubilee Debt Campaign (JDC) released figures in April showing the International Monetary Fund had made 鈧2.5 billion of profit out of its loans to Greece since 2010.
"The 'No' rally of this evening was quite simply the biggest political rally since the fall of the dictatorship," SYRIZA activist Stathis Kouvelakis said on July 3 of the mass rally to back the SYRIZA government's call for a "No" vote in Greece's July 5 referendum on whether to accept the crippling austerity demanded by the nation's creditors.
Venezuelan President Nicolas Maduro voiced solidarity with the Greek government of Alexis Tsipras on June 30 after Greece failed to pay US$1.8 billion to the International Monetary Fund (IMF), .
鈥淚 want to officially express solidarity to Prime Minister Tsipras and the Greek people on behalf of Venezuela,鈥 Venezuela's socialist leader said on his weekly television program shortly after the IMF deadline.
The ALBA bloc, comprised of 12 Latin American and Caribbean nations, expressed its support to Greece, as the Mediterranean country continues to renegotiate its debt with eurozone lenders.
In a statement June 28, the bloc, which calls itself a 鈥淧eople鈥檚 Trade Treaty,鈥 said it stands with the Greek people and the SYRIZA government against the "destructive consequences of neoliberal transnational capital," which regional organization said looks to subvert Greek democracy through financial measures.
The message from the mainstream media and parties across Europe is Greece is to blame for its own predicament. But a growing grass-roots movement across the continent is pushing for an alternative approach that demands democracy, not austerity.
In a speech to the Belgian parliament on June 10, conservative Belgian Prime Minister Charles Michel declared that 鈥渢he end of the Greek holiday has sounded.鈥
听Sydney protest in solidarity with Greece, June 28. Photo by Peter Boyle Protests are being planned in the Australian cities of Melbourne, Sydney, Canberra, Armidale and Brisbane in coming days in support of the Greek people and its elected SYRIZA-led government.
Greek Prime Minister Alexis Tsipras announced on June 26 that a referendum will be called over the bailout deal being proposed for the country by Greece's creditors. The deal is pushed by the "Troika" of the European Union, International Monetary Fund and European Central Bank.
Tsipras called an urgent cabinet meeting earlier that day, and later announced to the press plans for the a referendum on July 5. Citizens will be asked 鈥測es鈥 or 鈥渘o鈥 to creditors鈥 proposals. Tsipras has asked the Greek ministerial council to call the referendum.
More than 5000 people rallied in Brussels on June 21.
As Greece's anti-austerity SYRIZA-led government seeks a deal to give it badly needed funds to pay creditors and avoid a collapse of its banking system, 40 groups from across Europe are petitioning for Greece's debt to be cancelled.
The groups say the crisis-hit southern European country is not in a position to repay the debt and it should not have to shoulder a burden accumulated by previous governments.
A preliminary report on the audit of Greece's debt initiated by the Greek parliament declared on June 17 that the debt was 鈥渋llegal, illegitimate and odious鈥.
The debt imposed on Greece and its people by creditors directly infringes the human rights of Greeks and is 鈥渋llegal, illegitimate and odious鈥, declared on June 17.
The finding came as talks between Greece and its creditors finished without a deal on June 18. The International Monetary Fund is threatening the near-bankrupt country with default unless it pays the US$1.7 billion it owes by the June 30 deadline.
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