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.
Despite elections, Greece is heading for an exit from the euro, and the rest of the eurozone periphery may follow, precipitating a huge change in the EU. After the crisis, Greece could slowly recover.
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.
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.
The Celtic Tiger might just find its strength and appetite for action in the growth of left leaning electorates and local citizens initiatives. The tailspin of economy caused by austerity policies should be countered by a transparent debt audit.
Susan George, Fiona Dove, Yiorgos Vassalos, Dominique Plihon, Kenneth Haar
02 Noviembre 2011
Multi-media
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.
The banks are making huge profits again while more people are made redundent from jobs whose services we actually need. Three experts share their views on the European economic crisis, and the failure of governments to take action.
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.
The current architecture of the Eurozone exposes its members to the speculative attacks of financial markets, yet does not provide for any crisis management policies.
On 8 June the EU Parliament will vote on our response to the Eurocrisis: sign this petition by ATTAC asking them to reject the neoliberal austerity package which will make the public pay for the bank's crimes. There are alternatives to austerity.
