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so can one hope that the UK and the US are next in line? That ould maybe help shake the Washington/Brussels consensus loose...

Wind power
by Jerome a Paris (etg@eurotrib.com) on Thu Apr 29th, 2010 at 05:17:44 AM EST
[ Parent ]
Were Greece actually to default I suspect that all eyes would turn to Wall Street, because the spectacle there would dwarf all others, as in the fall of 2008. Even better, coordinate action so as to make all of the CDSs written around Greek debt worth far less than they are right now.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Apr 29th, 2010 at 10:47:47 AM EST
[ Parent ]
The "left" in those countries has been captured by their financial sectors, City of London and Wall Street respectively.

Remember that in the US, Obama was the keynote speaker at the launch of the Robert Rubin (former exec at Goldman Sachs) inspired Hamilton Project.  The idea was to kill economic populism in the Democratic Party after the victories in the 2006 midterms.  

The UK is similar.  Unions have been abandoning Labour for a while, at least since the abolition of Clause 4 and the end of block voting by affiliates of the TUC casting votes for their members en masse.

Zapatero is arguably the foremost socialist politician in all of Europe today.  He's no Gonzalez, and he's pulled back from the movement towards neo-liberalism.  

Not to mention that I think that the comments from the finance minister Salgado, about speculators attacking Greece, rattled the masters of the universe in London and New York.....

And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg

by ManfromMiddletown (manfrommiddletown at lycos dot com) on Thu Apr 29th, 2010 at 10:51:27 AM EST
[ Parent ]
Zapatero is arguably the foremost socialist politician in all of Europe today.

He's also waaay beyond his depth in this economic crisis. As is his new Economy minister Elena Salgado.

The brainless should not be in banking -- Willem Buiter

by Migeru (migeru at eurotrib dot com) on Thu Apr 29th, 2010 at 05:12:39 PM EST
[ Parent ]

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