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Issue #1681      April 22, 2015

Austerity measures in Australia, Greece

Many countries, including Greece, Cyprus and Australia face serious economic problems. Production of commodities and services is at a low level. Less is being produced than in previous years. Greece has experienced less and less production each year for more than five years. If a country fails to produce or fails to sell what it produces, economic crisis sets in.

The main strategy of governments to raise production levels is to increase the profits of private enterprises, particularly the big monopolies.

The belief that if the monopolies increase their profits, more money will be ploughed into production, the levels of national production will increase and the economy will be stimulated.

To increase monopoly profits, governments are bringing in a range of measures which vary from country to country but generally aim at:

  • Facilitate the operations of monopoly enterprises through government grants, tax concessions, provision of infrastructure such as transport facilities and reducing government regulation of monopoly activities;
  • Hand-over of public sector enterprises, government service, government insurance schemes, and other public assets to the private sector, so that monopolies have greater ownership and control over the economy;
  • Reduce wages and working conditions of employees;
  • Reduce government spending by axing public service jobs, cutting pensions and unemployment benefits and reducing government allocations for health, education and welfare.

That the people suffer under austerity measures is of minor concern as the aim is, first and foremost, to boost the profits of the monopolies. All will be well, so they say, if the monopolies are thriving and the tiny section of the population who run the monopolies get richer and richer.

While the monopolies are given such favourable treatment, the people have no choice but to struggle for whatever can be achieved to improve their quality of life. There is no option but for all the people affected by the crisis – workers and their families, the unemployed, pensioners, youth and students, women, small scale business owners and farmers, Indigenous, immigrant and community groups – to raise their level of action on the matters that affect them, and unite in saying NO! to the monopolies and the governments that support them.

We invite you to a forum to hear speakers on Austerity Measures, particularly in relation to the situation in Australia and Greece. Come along with family, friends, workmates and members of your community group. As well as analyses of the problems and the way forward, musical items from Greece and Australia will be presented.

When: Sunday, May 3 – the day International May Day will be celebrated in Sydney
Time: 5.00pm
Place: Cyprus Community Club, 58 Stanmore Road, Stanmore
Presented by Inner West and Beloyiannis Branch, Communist Party of Australia, for the Sydney District Committee, with support of Friends of AKEL, Sydney

Next article – Iraq deployment – latest commitment to endless war

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