On Feb 24, 2012, at 3:03 PM, Wojtek S wrote:
> Why would they want to do this? The "diversion" hypothesis does
> not make much sense to me, but even if it were true, the last four
> years of the Great recession and austerity measures that followed
> clearly demonstrated that there is no threat to the elites, even in
> countries with more militant traditions than the US, like Greece or
> France. They can handle street protests with one hand tied behind
> their back.
The head of the ECB, Mario Draghi, gave an interview to the Wall Street Journal in which he declared the European social model - a somewhat softer way of doing capitalism - dead. Austerity must continue at all costs. We'll see if this is hubris, but he's not even trying to soften the blows.
Doug