The military coup carried out by the ruling military junta before the run-off of the Egyptian presidential election is a serious threat to the Egyptian revolution and to the working class. It has exposed the “democratic transition” promoted by the junta as a fraud. With the support of its imperialist allies in the US and Europe, the ruling Supreme Council of the Armed Forces (SCAF) has eliminated all the institutions it initially created to give the illusion of a transition to democracy.
In a magnificent ceremony lasting two-and-a-quarter hours, JPMorgan Chase Chairman and Chief Executive Officer Jamie Dimon sat on a throne constructed with “all the pomp of Oriental greatness,” while the various senators passed one by one, bending their knees, placing their hands within his, taking an oath of fealty, and rendering to him “the homage which had been previously agreed on.” *
Whoever wins the election, the working class will be forced to repay the €200 billion-plus bailout through the austerity measures attached to the Memorandum signed with the troika. Sunday’s general election in Greece is uniformly portrayed as a defining moment in which the Greek people will have the chance to determine not only the future of their own country, but the course of Europe. But as far as Europe’s ruling elite is concerned, Greece’s fate has already been determined.
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