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It
has been mentioned already by this blog that Greece could seek an
alternative to the neoliberal bloc that drowns country in debt.
Indeed, we have rapid progress on this matter, as Greece was invited
to join BRICS development bank!
From
sputniknews.com:
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Greek
Prime Minister Alexis Tsipras on Monday held a telephone
conversation with Russian Deputy Finance Minister Sergei Storchak.
During the conversation, Storchak invited Greece to become the
sixth member of the New Development Bank of BRICS countries,
Greece's Syriza party reported on its website. Storchak is a
representative of the BRICS Bank which is now being established.
'The
Prime Minister thanked Storchak and said he was pleasantly
surprised by the invitation for Greece to be the sixth member of
the BRICS Development Bank. Tsipras said Greece is interested in
the offer, and promised to thoroughly examine it. He will have a
chance to discuss the invitation with the other BRICS leaders
during the 2015 International Economic Forum in St. Petersburg,'
the report read.
On
July 15, 2014, in Fortaleza, Brazil, the BRICS member countries
signed an agreement to establish the $100 billion New Development
Bank, formerly referred to as the BRICS bank, and a reserve
currency pool set at $100 billion. Russia will contribute $18
billion to the pool, along with India and Brazil. China is
expected to contribute the largest share of $41 billion, with
South Africa chipping in the remaining $5 billion. The bank is
expected to be one of the largest financial institutions to fund
various infrastructure projects in the BRICS countries and
emerging economies.
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It
has been mentioned also that Greece should play the card of
alternative funding, through the participation in other groups of
countries and organizations against the implacability of its lenders,
who insist on catastrophic neoliberal policies:
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... Greece may start to seek
other alternatives. Apart from the BRICS solution, Greece may also
turn to the Asian Infrastructure Investment Bank (AIIB), as many
countries, even from the hard core of the Western bloc already
applied to join. Latest examples, Portugal and Iceland ...
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Greece could play the BRICS
"card" alone, but it would be much easier to be done
together with the rest of the PIIGS. A coordinated strategy by the
PIIGS will probably force the eurocrats to retreat and make Europe
to change course. Otherwise, there will be no alternative for
PIIGS but to join BRICS!
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Greece's Deputy Foreign Minister,
Nikos Chountis, confirmed that Greece examines a plan B in case
that the negotiations with the European "partners" about
the debt will be driven to a dead end. [...] “There have been
proposals, offers I would say, from Russia, recently after the
election, for economic support as well as from China, regarding
help, investment possibilities,” Chountis said, ...
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As BRICS are in the processes to
decouple economies from the Western neoliberal monetary monopoly,
they could bring back the gold standard as a base for their
transactions, which is much more steady than the paper money
unstable financial bubbles. They are ready, because they are
emerging economies with billions of potential consumer tanks and
can attract other countries too being victims of the international
financial mafia, like Argentina and Greece.
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