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> Politics

Forget global crash: Latest Greek far-left party plans to nationalize banks, default on debt

UK-based economist Lapavitsas says euro not a 'safe harbor'

Newsroom August 25 11:13

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British-based economics professor and Parliament MP Costas Lapavitsas, one of the most prominent anti-euro …former members of the SYRIZA party and now of the breakaway and even more radical Popular Unity, reiterated that a return to a national currency was not the solution to the problem, but a means to an end.

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In an interview with the local Mega TV on Tuesday. Lapavitsas characterized the argument that the euro was ‘a harbor of safety’ as totally baseless, while commenting on his new anti-capitalist and even more radical left party, he said its MPs — previously with SYRIZA — spoke the truth to the Greek people.

Lapavitsas, a classical Marxist who is paid in UK pounds when not serving in the Greek Parliament, continued by warning that measures emanating from the third bailout would mean meager pensions for the elderly, increased unemployment and more austerity for at least two more years.

Lapavitsas said Popular Unity’s political program included a default and write-off on debt, the nationalization of banks and the scrapping austerity. No word on whether five-year plans and “popular mobilizations” to cut sugarcane would also be envisioned.

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