Three years since the outbreak of the global financial crisis, the banks are back making mega-profits while the burden has clearly shifted to citizens and workers. However civil society action at European level could still make a difference in reining in the financial sector.
The Greek crisis has exposed the fundamental flaws in the Euro project: it stripped countries control over the price of money and allowed political elites to undermine Europe's post-war social contract.
Until the European Commission shows it has learnt the lessons of the 2008 financial crisis and demonstrates the political will to re-regulate the financial sector, it will be unable to resolve the crises in Greece, Ireland and Portugal
Susan George, Fiona Dove, Yiorgos Vassalos, Dominique Plihon, Kenneth Haar
02 November 2011
In a podcast debate, four activist researchers debate why the European Union is wedlocked to economic policies that will only worsen the crisis and further undermine democratic control of public budget.
While banks and European leaders negotiate the next public bail out of private greed, and the financial speculation that caused the crisis continues unheeded, Europeans have shown that like many people around the world, from Tahrir to Syntagma Square and Wall Street, they are not going to take more neoliberal austerity lying down. The question already being asked by many observers is - where to now for the popular demonstrations?
2011 witnessed the implementation of some of the most comprehensive undemocratic structural changes in the EU since the Lisbon Treaty. Alternative proposals for a progressive exit from the euro crisis are laid out here.
The ruthless austerity programmes imposed on Greece and the endless cycle of debt renegotiations will only come to a close when Athens takes charge of its predicament and announces a democratic and sovereign cessation of payments.
A new Pan-European network to fight against the EU's austerity policies and support a fairer, greener, more democratic Europe has been launched in Brussels, following two days of discussion and debate at CEO's conference on the EU in Crisis.
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.
Una útil guía de bolsillo que explica cómo la crisis de Wall Street se vio agravada por las políticas de la UE y cómo ha enriquecido al 1% de la población en detrimento del 99%, y apunta a posibles soluciones que priorizan a las personas y el medio ambiente por encima de los beneficios empresariales.