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.

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 EU focus on fiscal deficit is completely mistaken. They are the result of the crisis, not the cause.

Only if we tackle corporate power at the heart of the EU, do we have a chance to stop Austerity Europe.