NEOLIBERLS HAVE HAD A GO AND FAILED: Economic analysts who have defended the reforms are starting to agree with SYRIZA (Spanish Ally Party) on several issues, including the need to stop austerity and move faster to a process of debt forgiveness. FTs Wolfgang Munchau writes that the radical left is right about Europes debt. Bloomberg argues that the end of austerity may boost the global economy and even Morgan Stanley asks bond holders not to be afraid of the coming elections. In this environment, a SYRIZA victory would mean the opening of a new chapter in European politics, where the parties and the organisations who challenge austerity will have the momentum. The Greek people have patiently given the opportunity to the neoliberal technocrats of the IMF and the EU along with their local counterparts in the conservative coalition government to experiment and find a way out of the mess for more than five years only to receive back pain and failure. Now theyre being given the opportunity to exercise their democratic right to choose which way the country will turn. SYRIZA is asking for debt forgiveness and a New Deal for Europe, both rather moderate demands coming from a radical left party. If SYRIZA actually wins the elections, the Greek people will be the first to send a clear message against austerity, one that can spark change, much needed on the continent right now. And if SYRIZA succeeds then Europe may start a new page in its economic and political history.
Posted on: Thu, 01 Jan 2015 22:29:15 +0000
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