Financial fascism

[xchrom]

http://www.atimes.com/atimes/Global_Economy/MK08Dj01.html

If politics were just war by another name, then economics would be the favored armory of both sides. Europe has gone one step further last week, almost unimaginably bringing back the era of fascism as it contends with the unwieldy agglomeration of financial contradictions that the euro project has now become.

The birthplace of democracy, Greece, has gone back to a managed dictatorship after the collapse of the democratically elected George Papandreou government on Sunday, to be replaced by a national unity government with a technocrat at its helm. Reading between the lines, the idea isn't hard to understand: a pliant government in Athens that is helmed by a


eurocrat, unable to ask any questions of Brussels and unwilling to concede over any objections from the population of Greece.

The apparent crime of the Greeks was to ask their prime minister for a referendum on the latest series of proposals from European authorities on a new bailout for their country (see The men without qualities, Asia Times Online, October 29, 2011). This set off panic in stock and bond markets mid-week and prepared the stage for an ugly showdown as well as unprecedented developments.

For the European governments, this level of panic in the markets was simply unacceptable as it showed deep "ingratitude" on the part of the Greeks; that view of course conveniently ignores ground realities of austerity that the Greeks would endure on their own so that bankers in Paris and Frankfurt wouldn't face job or pay cuts.

[HopeHoops]

1. Isn't that term redundant?

:shrug:

[bemildred]

2. Economic Feudalism. nt

[AntiFascist]

3. Finally some journalists are getting it....

"This is what fascism is all about at the end - an overwhelming subjugation of the individual at the altar of nationalism, the authoritarian rule of a financial system that disallows countries from following their own courses."

[xchrom]

4. +1