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.
Since Syriza was elected, Stathis Kouvelakis, who is a member of the party's Central Committee, has been providing vital insight and analysis of the rapidly developing situation in Greece. Below he addresses current understandings of the Greek government's agreement with the Eurogroup, including that of Étienne Balibar and Sandro Mezzadra, posted earlier today.
In the last few days there have been two sophisms circulating among those who refuse to look reality square in the face and recognise the retreat that Syriza has been forced to make, as well as its possible consequences. Or rather, two and a half. And I say ‘forced’ with good reason, because the new government has been trapped by its mistaken strategy: though I wouldn’t say it was a ‘betrayal’ or ‘capitulation’, since these are moralising terms that are of very little use for understanding political processes.