Thu Jun 17th, 2010 at 06:54:24 AM EST
Europe's Economy 'Returning to 1930s' - BusinessWeek
"This is extremely dangerous. This is 1931, we're heading back to the 1930s, with the Great Depression and we ended up with militarist dictatorship," the general secretary of the European Trades Union Congress (ETUC) said in an interview with EUobserver. "I'm not saying we're there yet, but it's potentially very serious, not just economically, but politically as well."
Mr. Monks reported that Mr. Barroso has similar concerns, but based on diametrically opposed reasoning. He said the commission chief believes the austerity packages will save Europe from returning to the darkest days of the last century rather than precipitating the fall.
"I had a discussion with Barroso last Friday about what can be done for Greece, Spain, Portugal and the rest and his message was blunt: 'Look, if they do not carry out these austerity packages, these countries could virtually disappear in the way that we know them as democracies. They've got no choice, this is it'."
So, what is Barroso saying? That, if the populace resist the dismantling of the European welfare state (social safety net, health and education) the elites will bring out the guns?
How can it be that the European Trade Union Congress warns that austerity will bring depression and fascism, and that the Neoliberals warns that not introducing austerity will bring fascism? They can't both be right. Or maybe they are because fascism within 10 years is a consequence of the current situation regardless of the austerity measures?
Or is Barroso just a clueless idiot, a deer in the headlights who can't keep his mouth shut?
I swear I'm sick and tired of the European Christian Democrats, of the cozy Hooverian consensus of the Christian Democrat-Socialist/Labour-Liberal Grand Coalition. And I'm sick of the economic ideologues that got us here by poisoning the well and the economists who were complicit by action or omission.