Deepening of European Economic Crisis [hilar]
DR. ABDUL RUFF
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The ongoing terror wars in Islamic nations being waged illegally by the NATO terror syndicate led by the USA-UK terror twins have deadly impacted upon not only the climatic conditions with extra air pollutions, but also on the economies and finances of the western nations. The decline of the world economy is accompanied by growing national tensions, threatening the continued existence of the European Union, and increasingly brutal imperialist wars, as in Afghanistan, Iraq and Libya. The bitter experiences of the 1930s threaten to repeat themselves in a more monstrous manner. The public purse in Europe and elsewhere is being looted in order to save the banks and the assets of the wealthy, while education, health and old age care are being destroyed and the youth pushed onto the streets with no prospects. One farcical austerity measure follows the next, aggravating the recession, which in turn rips new holes in the public sector.
Governments have refused to tax speculative profits, high incomes and wealth. Offenders of all sorts like the stock exchange gamblers and speculators who have driven entire national economies to the wall, without being in any way held accountable for their crimes. The markets, and particularly the financial markets, have demonstrated their destructive power. Speculators are driving governments and dictating policies that plunge society into ruin and destroy the livelihoods of broad layers of the population..
The conflict in Europe does not run between nations, but between classes. Those western nations talking about democracy should see that the financial institutions and large corporations are expropriated and put under democratic control. Economic life is not planned according to the needs of society but according to the anarchy of the market and the profit interests of the owners of capital. The prerequisite for the defense of social and democratic rights is a socialist program but the western terrocracies spun socialist mode. Worst, the trade unions and social democratic parties continue to enjoy countless state privileges and are less serious about working people. They work in tandem with government to divide, paralyze and suppress all opposition from below.
In Europe, governments and parties are arguing over whether the insatiable appetite of the financial markets can be satisfied by the creation of so-called euro bonds, or whether the euro should be abandoned. The introduction of euro bonds would extend the brutal austerity measures, to which countries such as Greece, Ireland and Portugal have had to submit, throughout the rest of Europe. Many others are prepared to abandon the euro, break up the European Union and follow the path of national rivalries, conflicts and wars.
The United States emerged from the World War II as the dominant economic power. Today, the US is itself the focus of the crisis, and no country or alliance can assume its role as the anchor of the world capitalist economy. The demise of the USSR in 1991 was proclaimed as proof that socialism had failed and the unrestricted capitalist market had triumphed. The current financial crisis is even more fundamental than eighty years ago when Europe slid into fascism and war, and the American bourgeoisie responded with a program of social reforms, in the form of President Franklin Delano Roosevelts New Deal.
For the first time in history, western governments are being driven by financial developments which they are unable to influence, as crisis of the worlds stock exchanges and financial markets is increasingly spiraling out of control that might force the governments with further budget cuts. The panic on the stock markets shows that traders are expecting a deep recession, already heralded by stagnating growth and rising unemployment rates. European leaders Angela Merkel and Nicolas Sarkozy, the leaders of the fourth- and sixth-largest economies in the world, met at an emergency summit with the aim of calming the markets.
Western powers now depends on China for its resources to ward off economic and financial crunches.
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د. عبد راف
Dr. Abdul Ruff, Specialist on State Terrorism;Chancellor-Founder of Centor for International Affairs(CIA); Independent Analyst;Chronicler of Foreign occupations& Freedom movements(Palestine,Kashmir, Iraq, Afghanistan, Pakistan, Xinjiang, Chechnya, etc);Former university Teacher; Global media today, even in Muslim nations, are controlled by anti-Islamic agencies.
Terrorism is caused by anti-Islamic forces. Fake democracies like USA and India have zero-tolerance to any criticism of their anti-Muslim and other aggressive practices.Anti-Muslimism and anti-Islamism are more dangerous than "terrorism" Anti-Islamic forces & terrorists are using criminal elements for terrorizing the world and they in disguise are harming genuine interests of ordinary Muslims. /abdulruff.wordpress.com/91-9961868309/91-9961868309
