Tag Archives | euro

The Euro And Austerity As A Powder Keg In Europe

Via Critical Legal Thinking, excerpts from a translated interview with Alexis Tsipras, the leader of Syriza (the Coalition of the Radical Left), Greece’s new second largest political party:

I believe the European model has to be rebuilt from below. We can’t be sat­is­fied with what today is called Europe. The cur­rent crisis is not a European crisis but a global one. Europe today does not have the mech­an­isms to con­front it or con­trol the world­wide fin­an­cial attack against its peoples. Hence why Europe became a con­tin­ent where the attack of the global fin­an­cial sys­tem was fero­cious.

The [euro currency] has become a prison for the peoples of Europe, espe­cially the weak­est eco­nom­ies on the peri­phery going through the crisis. The con­tra­dic­tion is in the base on which the euro was built. The euro is a powder keg that is going to explode if we con­tinue in this dir­ec­tion.

Greece became an ultralib­eral exper­i­ment, a guinea pig.

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The Euro As A Mass Weapon Of Class Warfare

gasFormer member of European Parliament Steve McGiffen reveals what he sees as the true purpose of the uniting of Europe under the euro currency, via Spectrezine:

Where I differ from much progressive criticism of the euro is that I actually see [the current crisis] not as proof of massive incompetence, but, in fact, as [purposeful]. The euro’s purpose was not to facilitate the creation of a Europe of transfrontier love, peace, harmony, boosted trade and economic efficiency, but to attack the economic, social and political gains of working people, accumulated over two centuries in the most bitter struggles. What is happening in country after country, starkest of all in Greece, Ireland and Portugal, but also in Britain, is nothing less than the opening salvoes of a new, more intense and more dangerous phase of class war.

If governments and national banks give up the economic leverage they gain from an ability to determine their own levels of spending and borrowing, if they can no longer decide interest or exchange rates, they will have only one means left to maintain or enhance competitiveness: our wages, our pensions, our welfare rights, our children’s education, will all have to cost less – this is of course what has since been called ‘internal devaluation’.

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