Global Governance and Criminal Plutocracy

November 14th, 2011

Published on The Global Sociology Blog, by SocProf, November 10, 2011.

If you are going to read one author / journalist on the issue of global criminality, it should be Misha Glenny. His two latest books* are strong indictments of the global governance system and its lack of teeth when it comes to global criminal organizations as well as national oligarchies’s role in destabilizing economies and profiting from the results.  

In this Financial Times column, he clearly explains the two main issues that have precipitated Greece’s collapse (no quoting from FT articles, you gotta click on the link to read the whole thing):

  • Criminal organizations across the Balkan, milking fuel money out of Greece;
  • Oligarch families that evade taxes while waiting to make a killing on the privatization they are pushing for with global and regional organizations;
  • State corruption;
  • Media;
  • Politicians.

According to Glenny, it is especially these oligarch families that have stashed away Euros. They are waiting for Greece to exit the Eurozone and to start implement what are, in effect, structural adjustment programs, including privatization at basement prices, in Drachma. They will buy the whole lot for close to nothing. Papandreou, who unveiled the pan-Balkan criminality and was going after tax-evaders is the latest victim of their power. And, the media that these families control will cheer on any furthering of austerity measures and vilify anyone who dares trying to get in the way.

But Glenny also blames Western European countries for playing high and mighty with the reckless Mediterranean countries while ignoring what was very obvious for a while. After all, who is now clamoring for Greece to pay its debts to wealthy German investors or else? And which Western European (especially British) banks have turned down the unpaid taxes as well as “running away” Euros from the oligarchs? Yeah.

Who said nation-states no longer mattered … (full text).


* McMafia: A Journey Through the Global Criminal Underworld AND DarkMarket: Cyberthieves, Cybercops and You;

all his books at AMAZON;

the author’s page at Amazon;

The Global Sociology Blog

Planned (USA);

International Planned Parenthood Federation.

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