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The current situation is bizarre - explosively incoherent banker-politics pretending to be sound and wise economic management.

But the problem isn't just the fact that the policies make no sense - it's that there's no group or organisation that can offer a solid counterpunch against them.

Effectively the Bundesbank and "investors" decide policy, and governments exist solely to implement it.

If the policy happens to be suicidally inappropriate for a given government, that government can always be replaced.

However, governments are not allowed to set policy for banks and investors. Even minor restrictions, like the ones being proposed in the UK, are met with outraged howls and self-righteous huffing.

It's obvious that nation states are no longer able to act as sovereign entities. Even when pols understand what's happening, and don't choose to be complicit with it, there's very little individual governments can do.

The only workable solution is an EU-wide - preferably an international - political front to oppose investor domination.

This can't take the form of a single party or wing, but has to include senior (dissenting) figures from across the region working together and coordinating responses and actions.

This isn't likely to happen - I'm not holding my breath for it. But unfortunately I think it may be the only way to stop the neo-lib thugs before they break something permanently.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Wed Apr 13th, 2011 at 08:33:52 AM EST
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