[lbo-talk] German election: the markets won't like this

Dennis Redmond dredmond at efn.org
Mon Sep 19 07:01:01 PDT 2005


Peter Lavelle wrote:


> The whole Euro project has come to an end (as it
> should for the time being).

Not necessarily. What's happened is that the Euroliberalism dominant in the early 1990s has taken hit after hit. Here's the balance sheet of the last ten years:

Real interest rates: dropped like a rock. Maastricht budget requirements: scrapped. Welfare cuts: shelved, for the most part. Union-busting: hasn't happened. Economic and cultural integration: accelerating. Spread of a Euro-wide media culture: accelerating.

All good things, from a proletarian perspective.

-- DRR



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