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"It is necessary to adopt decisive and forceful measures to leave clear the irreversibility of our integration project, and in particular the single currency," the letter said. "The uncertainty regarding the euro is preventing the adjustment measures many countries are carrying out to have the desired effects that they should have," the letter continued. "This situation is worsening in an accelerated manner and it is necessary to address it as soon as possible." Rajoy made the revelation on Wednesday in Congress, where he told lawmakers that what was required at the moment is for European to make a strong commitment statement in favor of greater union before opening a debate on how best to achieve this. "The future of the euro depends on us initiating this debate," he said. "The road won't be easy but it is an indispensable goal on which we must be in agreement."
Rajoy made the revelation on Wednesday in Congress, where he told lawmakers that what was required at the moment is for European to make a strong commitment statement in favor of greater union before opening a debate on how best to achieve this. "The future of the euro depends on us initiating this debate," he said. "The road won't be easy but it is an indispensable goal on which we must be in agreement."
We always feared that Angela Merkel's recent endorsement of a political union was a deflection, and this fear is now confirmed. The FT reports from Berlin that German officials are now playing down any expectations that Germany is ready to support a banking union and eurobonds, insisting that the existing tools of crisis resolution are adequate. Instead German officials are pretending that they support a long-term process of political union. We are now back to where we were before: there is a need to act fast, but the German chancellor is chronically incapable of making the political case for burden sharing. Expectations in the German media, and among coalition politicians have also been "managed" in such a way that an agreement for a banking union would come as a total shock. The Dutch finance ministry also said yesterday, according to Reuters, that a banking union should be seen as a long-term project that cannot be implemented immediately.
Instead German officials are pretending that they support a long-term process of political union. We are now back to where we were before: there is a need to act fast, but the German chancellor is chronically incapable of making the political case for burden sharing. Expectations in the German media, and among coalition politicians have also been "managed" in such a way that an agreement for a banking union would come as a total shock.
The Dutch finance ministry also said yesterday, according to Reuters, that a banking union should be seen as a long-term project that cannot be implemented immediately.
- Jake Friends come and go. Enemies accumulate.
I believe a consciousness-raising action is urgently needed in Spain and Europe. A Spanish Party (French, Italian, German, etc) for a Social Europe.
Now, people can feel "the crisis". If you miss the opportunity, there will be a maximum globalization, with governors servers of it.
I think in Spain it can be perceived well.
The IU -> SYRIZA scenario would go like this: First PSOE would have to start splintering. Then a left/sane faction would have to join the IU. Then the IU would have to seek alliance with other credible forces that would prop up its street cred which could be built by unwavering, clear and principled support of popular movements against austerity. That would involve removing any people who are too soft on the PSOE and recognizing that whatever remains of the PSOE is a political opponent, pretty much on the same level that the right is. Then a leader with some public charisma would help, but is not really, absolutely necessary... The problem is that at this stage there is no time for this scenario. Developments will occur at too rapid a pace so who knows... How strong is the fascist right in Spain right now and how high the level of xenophobia? The road of excess leads to the palace of wisdom - William Blake
Now that Spain has been "rescued" almost exactly 2 years after Greece, the situation is that the PP parliamentary group needs to start leaking parlamentarians, like PASOK did, until the government loses its supermajority and becomes vulnerable to a no-confidence motion. For PP parlamentarians to break party discipline seems unthinkable right now.
I think it's more likely that Spain's economy will tailspin to 30-35% official unemployment (60-70% youth unemployment!) and then social unrest prompts a suspension of civil liberties than that the PP will lose its parliamentary supermajority. The government has already legislated a criminalization of nonviolent civil disobedience.
But the PP base (and the parliamentary backbenchers) are right now in a state of perplexed shock both at the political/economic situation and at the government's performance (and performance art). So, who knows, there could be an internal revolt. If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa
Are people concerned that Spain will leave the eurozone precipitously? If they are not, should they be?
UI is marked in Spain, very different from what it was in Greece. The Socialist Party is also marked and no alternative leaders.
Since people from IU, from the PSOE, and new people, a new party would be required, unmarked, looking to the future.
I quit. Sorry. I have to go to the doctor.
To be blunt: If a Greek polling agency about whom I knew nothing else told me that a majority of the Greeks believed that sky to be blue, I would email talos and ask him whether the result was credible before believing it.
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