Another day, another crisis Events are moving at lightening speed. Stock markets are in freefall around the world. Some days bring temporary relief only to be followed by greater convulsions. The whole situation is reminiscent of 2008, or more correctly the 1930s.
Crisis of the euro – shades of the Titanic The euro zone is heading into stormy waters. The crisis that opened with the near collapse of the world banking system in 2008 has now deepened into a crisis of insolvency of entire nations. The bourgeois has no idea of how to get out of the crisis, which is sweeping like an uncontrollable tsunami from one country to another in Europe. In the words of Italy’s finance minister, “There should be no illusions about who will be saved. Like on the Titanic, the first class passengers won’t be able to save themselves.”
Should we pay for the crisis? As I write these lines the destinies of Greece are being decided in a titanic struggle in which the Greek working class is confronting the big banks and capitalists of all Europe. The EU is subjecting Greece to the most shameless blackmail. They say: either accept draconian cuts in your living standards, or else we will refuse to hand over the next tranche of 12 billion euros.
