Behind incessant rhetorical invocations of a “democratic revolution,” Ukraine’s newly-installed government of former bankers, fascists and oligarchs is preparing draconian austerity measures.
The plans being drawn up are openly described as the “Greek model,” i.e., the programme of savage cuts imposed on Greece by the International Monetary Fund (IMF) and European Union (EU) that has caused Greece’s economy to collapse by nearly 25 percent in five years and produced a massive growth in unemployment and poverty.
In the case of Ukraine, however, this social devastation is to be unleashed against a country that has already been subjected to the scorched earth economics of capitalist restoration. Even before the latest events, Ukraine was the 80th poorest country in the world based on gross domestic product per capita, behind Iraq, Tonga and Bosnia-Herzegovina.
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