Posted 8 years ago on Nov. 10, 2011, 11:59 a.m. EST by looselyhuman
This content is user submitted and not an official statement
The imposition of unelected technocrats in Italy and Greece is just the sharp edge of a general slide away from democratic values in Europe. That fact that this is coinciding with an economic crisis highlights the incompatibility of neo-liberal capitalism and democracy itself. In this contradiction lies both the cause and solution to the crisis.
The original and classic crisis response has been austerity, but it is becoming quite clear that this is not only morally wrong but, furthermore, impractical. Firstly, at the root of any recession lies a slump in aggregate demand; taking money out of people’s’ pockets is only going to worsen this. Secondly, offering the people “no alternative” than to austerity, as well as imposing this upon Eurozone countries such as Greece and Italy when they do not comply is far from democratic and goes against a cornerstone of what it is to be European. Italy and Greece are quite literally seeing technocrats, imposed upon them by the bonds markets, replacing politicians; All hail Papademos, the first of the “Banktators”!