Capitalism vs. Democracy in Europe

Löwy, Michael
Date Written:  2015-09-01
Publisher:  Against the Current
Year Published:  2015
Resource Type:  Article
Cx Number:  CX21277

The governments of Europe are indifferent to public protest, strikes and mass demonstrations, and don't care about the opinion or the feelings of the population; they are attentive - extremely attentive - only to the opinion and the feelings of the financial markets, and their employees, the ratings agencies.



In Europe today, the King is not a Bourbon or Habsburg, the King is Financial Capital. All the present European governments - except the Greek one! - are functionaries of this absolutist, intolerant and anti-democratic Monarch. Whether right-wing, "extreme-center" or pseudo-leftist, whether conservative, demo-Christian or social-democratic, they fanatically serve her Majesty's right of Veto.

The absolute and total sovereign today in Europe is, therefore, the global financial market. Financial markets dictate to each country the wages and pensions, cuts in social expenses, privatizations, the rate of unemployment. Some time ago, they directly nominated the heads of government (Papademos in Greece and Mario Monti in Italy), picking so-called "experts" who are faithful servants of the financial markets.

Let us have a closer look at some of these all-powerful "experts." Where do they come from? Mario Draghi, head of the Central European Bank, is a former manager of Goldman Sachs; Mario Monti, former European Commissionar, is also a former adviser to Goldman Sachs.
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