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Your construal of the EU reminds me of leftwing construals of the IMF and the Washington Consensus.  And I'm left a bit confused about who is imposing these hardships on Greece, the bankers & pseudo-investors with their speculative attacks, or the EU with its dictates and demands for more "austerity".  And then your thesis sentence suggests a conflation if not identification of both bankers and the EU with "global markets."

Mig has been calling this lately the Brussels Consensus - it's a softer version of the Washington Consensus, in that it's not usually imposed under threat of blackmail at times of crises, but it can be seen as a close cousin. It's one of the version of the Anglo Disease, whereby all solutions come from "reform," labor market flexibility and lower social spending.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Fri Feb 12th, 2010 at 10:38:37 AM EST
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