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Europe In Crisis
Ten years ago, I predicted the rise of a new form fascism in the United States and Europe, suggesting that the injustices and contradictions of the capitalist system were growing too large to be contained any longer by the existing liberal political order.
A new financial crisis is brewing in Europe, one that will prove as devastating as the last economic crisis. This one will also be centered in southern Europe--only this time, instead of the sovereign debt of the region's governments, it will involve the commercial banking sector.
WHAT'S HAPPENING
WHAT'S HAPPENING
“It gives us a glimpse of what politics could be like along the lines of progressive renaissance,” Yanis Varoufakis said.
The critics of the financial reform Dodd-Frank Act are fond of saying that it doesn't work -- some going so far as to say that the financial system is just as much at risk as it was in 2008, if not even more so.
Spurred on by the increasingly dire human and political costs of inadequate response, European leaders will gather in mid-September to address the refugee crisis. They should look to the environmental conservation movement to find innovative policy ideas.
The EU must and can settle internal deficits and surpluses, as long as these remain within the euro zone. Therefore, a better integration of economic and fiscal policies and a significant increase in economic transfers within the euro zone are needed.
