July 30, 2012
It has been three years now that Europe is weakening dramatically in terms of political effectiveness and financial stability. Greece, Italy, Spain, Portugal and Ireland are considered the victims of this major downturn. But are they solely responsible?
Problem No1: interest rates remain irrationally high for the overdebted states. The cost of lending is constantly increasing and the vicious circle of excessive indebtedness and gapping deficit remain stagnant. Which country can influence developments and unleash stiffness of the markets and lenders?
Problem No2: solidarity crisis. The European Commission and a great part of the European leaders have not yet realized that they are behaving like common agents of concrete interest groups. Like agents of the worst aspects of neoliberalism. What is European Union actually getting through can be adequately symbolized with the suffering of a patient faced with tremendous fluctuations in his life waiting from the supportive clinical mechanisms to keep him alive. There is no planning or even worse it seems there is a specific plan to dismantle the European Union by bringing chaos in Eurozone. Which member-state is nowadays the only one left in terms of political and economic leverage capable of shifting actual deadlines?
Problem No3: lack of alternatives. Both from a political philosophy and development economics perspective, there is no alternative voice able to undertake action, seize initiatives and reach result-oriented decisions. The European Left is absent and independent political groups with realistic rhetoric simply do not exist. It seems that the current crisis is so deep-rooted that there is no place for counter-austerity politics or even for a pro-social structure of decision-making. The European Parliament is standing aside the decision-making process like if it belongs to another continent. Why coalitions are weakening and ex-fervid opponents of the IMF-ECB-EC actual economic model avoid to stir up a well-established debate?
Without being biased or opportunist, I firmly believe that Germany is the problem. Not the people and its entire political personnel, but its current leadership.Dimitris Rapidis