Biagio Quattrocchi, Vanessa Bilancetti , Francesco Silvi
23 January 2019
Rome’s municipality has accumulated enormous debt, creating an emergency used to close any sort of public space, both physical and discussion. The narrative regarding the debt has been used to attack what we call the city of solidarity – groups, associations, and occupied places that are working to build community as opposed to accumulating profit.
To which aspects of this crisis should Germans and especially German Christians be most attentive? What would be the right policies to escape from the debt crisis which has been allowed to fester and is now five years old?
A useful pocket guide on how a crisis made in Wall Street was made worse by EU policies, how it has enriched the 1% to the detriment of the 99%, and outlining some possible solutions that prioritise people and the environment above corporate profits.
The fiscal treaty was voted on in a referendum in Ireland on 31st May and was approved by a margin of 60% to 40% (with a turnout of barely 50% of eligible voters). To understand the significance of the treaty and the referendum result, it is necessary to understand the origins of the Irish and European debt crises.
The EU debt crisis foretells a more serious global debt crisis, caused by unlimited growth and the ongoing financial casino. Latin America's emerging financial and regional architecture offers hope for a new type of integration based on solidarity.
Despite the strong and growing resistance in Greece and other European countries to the direction of EU policy responses to the crisis, the process for this new treaty has unfolded with disquieting speed: initiated in November, an agreement was already reached by end of January among the EU25. This comes at the expense of stifling democratic debate and, indeed, shortcutting the normal consultative procedures in the treaty process through legal manoeuvres.
The real news in Greece is not about riots, but of a growing number of people who have broken away from fear and decided to fight back against the austerity imposed by the 'Troika' of the European Commission, the European Central Bank and the IMF.
What would a progressive pan-European response to the Euro crisis look like? Professor Trevor Evans calls for a radical downsizing of the financial sector, debt audits, democratisation of the Commission and a full employment policy.