• European Union

    September 5, 2018

    Posted in: General

    Deregulated finance destroy society. They do so quietly and daily, when shareholders squeeze companies, i.e., to employees, to extract from them more and more profitability, both in the North and in the South. Makes trumpeting and breaking molds, with acute crises in which brutally reveal the implausible excesses of speculative greed and its impact on activity and employment. Unemployment, precariousness, accentuation of inequalities: wage-earners and poorest people must be charged with the cost of speculation, or the prejudice of the consequent crack. From two decades ago, the curve of global finance is nothing more than a long series of crises: 1987, stock crack; 1990, real estate crisis in the United States, Europe and Japan; 1994, North American mandatory crack; 1997-1998 international financial crises; 2000-2002, crack Internet; 2007-2008, now, real estate crisis and, perhaps, global financial crisis. For what this repetition? Because all obstacles to the movement of capital and financial innovation have been abolished.

    As for the central banks, which have ceased to be hinchara the bubble, have no alternative but that the of pounce at helping banks and hedge funds that are left without liquidity. We will not stay idly waiting for the next financial crisis, and will now not support ever more extravagant inequalities that market finances have made to prosper, nor the dangers that they make us run all us. The instability is part, inherently, of financial deregulation. Why, what they used the derisory appeals to transparency or the moralization? How could change one iota what happens and, therefore, prevent the same causes, again, the same effects? Put end to this supposed to intervene in the very heart of the game. In other words, radically transforming the structures. But, in the bosom of the European Union, any perspective transformation encountered incredible protection treaties decided to grant to financial capital. That is why we, European citizens, are calling for the abrogation of article 56 of the Treaty of Lisbon which, by prohibiting any restriction on their movements, financial capital provides the conditions for their overwhelming domination of society.

  • Comments are closed.