ABSTRACT
Greek capitalism’s crisis and the troika EAPs that followed had an unprecedented impact on Greece’s labour market. For Marxist Political Economy an overaccumulation crisis (caused by the TRPF) can be overcome only through a drastic devalorisation of capital and the revitalisation of the counteracting to the TRPF forces. The most important of the latter is the increase of the rate of exploitation (i.e. the rate of surplus-value). The rate of surplus-value can be improved by increasing unpaid labour-time and decreasing the value of labourpower. Both these elements are undeclared but essential parts of the Memoranda strategy (i.e. the type of capitalist restructuring organised by the EAPs co-opted by Greek capital and the dominant EU imperialist powers).
