Many ambiguities remain, but the proof of the pudding is in the eating.
One thing is certain: the American rating agencies are not “neutral”. Their proposal is to change the economies of the debtor countries though privatizations, wage restraint and labor market deregulation.
Italy and Spain have to pass under Caudine Forks. Meanwhile the future of euro remains in trouble because of the low rate of economic growth.
The German chancellor’s remedy of austerity is killing Europe, and the failure to contain financial speculation is spreading the epidemic.
Higher unionisation rates should be a priority in order to reverse the past three decades of upward redistribution
The conflict between ECB and Bundesbank.
To bring a different future within our grasp, we must first also abandon hope that our current political system will deliver it.
