On the EU summit of 8 December
Paolo Ferrero, leader, Communist Refoundation party, Italy:
The European summit concluded with the complete victory of Chancellor Merkel: a genuine Monetary Coup d’Etat and a new European order in which Berlin reigns supreme. The model to which Merkel aspires is evidently the mad restrictive policies that Chancellor Bruning imposed on Germany after the 1929 crisis. This led to 5 million unemployed and the victory Hitler in the elections of January 1933. Even more than a disaster the measures adopted at the summit are madness:
1. They are heavily recessive, aggravating the crisis and pushing many countries – among which Italy – on the road to Greece…. A budgetary hammerblow that will demolish the Italian economy, destroy welfare and lead to the sale of all local public services and all the publically owned industry.
2. The changes in the mechanisms for decision making and automatic sanctions will reduce countries like Italy to German protectorates, deprived of any real power. It is a clear destruction of democracy in our country and a clear violation of the Italian Constitution. It is completely unconstitutional that a government of unelected technocrats can decide that Italy is no longer a sovereign country but a German protectorate.
3. The changes will in no way stop the financial speculation and the European Central Bank will still be stopped from buying government bonds. Merkel’s Prussian right wing has won across the board and the billions put aside for the “save the state” [Italy’s latest austerity budget] serves to demonstrate the extent to which the speculators are sucking European states dry before making them collapse. Yesterday’s summit was a decisive step towards the abyss and the collapse of the Euro.