The political economist and author of Buying Time argues that 'the unified capitalist economy is destroying European diversity' and that in order to save this ideal, 'the monster of monetary union must be unravelled'.
If everything goes well, then what has been happening before our eyes in the last few days is the beginning of the end of the European monetary union. ‘If the Euro collapses, then so does Europe,’ said Chancellor Merkel, when it was a question of selling to the electors one of the horrendous ‘rescue packages’ for the European banks. Now we have the very opposite. The Euro is in the process of destroying Europe. If the Euro collapses – and let it be soon! – it may be that Europe actually doesn’t collapse. The outcome is certainly not clear; the wounds that monetary union has inflicted are too deep.
Yesterday the economist, Syriza MP and author of Crisis in the Eurozone, Profiting Without Producing and our blueprint for anti-capitalist change in Greece; Against the Troika: Crisis and Austerity in the Eurozone published a stark warning to his own party in light of the concessions made by the Greek government in the Eurozone talks.
The Eurogroup agreement has not been concluded, in part because we do not yet know what ‘reforms’ will be proposed by the Greek government today (Monday 23 February) and which ones of those will eventually be accepted. However, those of us that have been elected based on the program of Syriza, and see the announcements made at Thessaloniki [i.e. the ‘Thessaloniki Program’] as pledges that we have promised to the Greek people, we have deep concerns. It is our duty to write them down.
After Greece’s agreement with the European Union – with the aid programme being extended in exchange for the continuation of structural reforms – the new government has arrived at an impasse. The hopes of those seeking an end to austerity have not even lasted a month. Stathis Kouvelakis, member of the Syriza central committee and reader in political theory at King’s College London comments on these developments in the interview below.
What is the symbolic importance of Syriza’s victory?
Syriza’s victory represents a historic turning point. It is the first time in European electoral history that a party of the radical Left – that is, to the left of social democracy – has won the elections and entered government.
Up till now, the only times that parties from this political family exercised governmental roles they were part of wider coalitions, and even that was in very particular circumstances. This unprecedented success undoubtedly marks a turning point, one that is all the more important in that Europe is in the grip of a social and economic crisis that has led to growing political turmoil.
Some have noted that in the countries of Northern and Central Europe far-Right forces and the radicalised Right are the ones benefiting from this. Conversely, in the peripheral countries, which have been subjected to the harshest austerity policies, it is instead the forces of the radical Left that seem to be raising their head. We see this in Greece but also in Spain and Ireland.