Click here to access article by Peter Schwarz from World Socialist Web Site.
The ruling capitalist classes are ecstatic over this morning's news: European leaders reached a deal with Greek debtholders on Thursday morning after nearly 11 hours of talks. The agreement includes a large bailout of Greece by the European Union and the International Monetary Fund (IMF). The latter institution means that more US tax dollars will be tapped.
Meanwhile the stock markets are engaging in an orgy of stock buying. And ruling class media is likewise hailing this news. For more balanced and accurate coverage, read this article and also one by financial expert, Yves Smith, in her blog article entitled, "Eurozone Leaders Agree a Few Rescue Details, Like 50% Haircut on Greek Bonds; Plan to Develop a Plan Gooses Markets".