8/3/2019 "What will happen when the sacrifices do not end with the crisis?"

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"What will happen when the sacrifices do not end with the crisis?" Financial globalization has created its own state. A power without society. This role is exercised by the market (...). Actually existing societies are societies without power.And all this continues to worsen. "This text is 14. In December 1997, Le MondeDiplomatique published the Editoral Director of the Spanish version, Ignacio Ramonet, disarm financial markets. An alert would Attac movement germ today in 40 c

ountries, fighting for the creation of a tax on global financial transactions (Tobin inspired) to go throwing "sand grains" in the machinery of speculation.

14 years later, two Old World countries have seen their elected governments in the polls were replaced by a bankruptcy managers while the rest attributed to market decisions and cuts. Arguably, Ramonet, who participated this week in the ForoBurgos organized by Civic Banking, happened.

"The political generation is not up to what we are experiencing"

Do you fall Europe?

It is an extremely delicate moment. It seems that there is to head a political generation to the height of the apocalyptic crisis we are experiencing. And we have not caught enough of that in recent months, Germany and France have taken a power that no one has given them. We read: Rajoy talks with Merkel. " Did you first thing the winner of an election with overwhelming result is to call the boss?We are not a federal state. Spain is not Dakota nor Berlin, Washington. But Sarkozy Merkel sends an alibi.

Some say that Merkel assumed leadership because there is no power strong.

"In 2013 or 2014 we can have a global recession"

If Merkel is who is driving the crisis, the result is very bad. Greece is gettin

g worse. Its GDP is 3% of the euro area. When the crisis hit, it could have beensolved with a little financial outlay. Now the rot has gone. Austria and Francehave a triple A (highest rating on its debt) and attack them. It is not known whether the euro will be able to resist. In Portugal it has imposed a cure for horse, the recession has imposed as a result, you just lower the rating again. This does not work.

Not for Germany?

The Germans are going to wake up soon noting that most European countries do notbuy. And they do not export.

Why can not you see?They are not up to par. Cuts are applied to situations that manual do not match.Are encouraging markets to maintain pressure. Markets are runaway because for years there has been a deregulation that let them do what they wanted. Politicians promised change in the G-20. Sarkozy promised the tax on transactions. But markets do not want and not adopted.

What do we face?

If we continue like this, the first threat is that we are not confident that theeuro will resist. No one can say that will remain what it is within three months or a year. Many people bet that will disappear or be restricted to the area of

influence of Germany.

Is Europe has become the first tab of a new domino?

8/3/2019 "What will happen when the sacrifices do not end with the crisis?"

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The European debt crisis may have an impact globally. Many have forgotten, including Germany, that globalization is the articulation of all markets. If the eurozone freezing austerity, not boost consumption. Already in Europe 23 million unemployed in Spain five million and 80 million poor people do not consume. The world runs on two engines, two major centers of consumption: the U.S. and the EU, both threatened by the recession. If you stop, China will make less. In fact, the

Chinese growth rate has already fallen. If China stops importing, also stop buying raw materials, purchase minerals Peru and Chile and agricultural products itbuys from Brazil and Argentina. These countries will grow. And in 2013 or 2014we can find a global recession.

Can the world stand?

The question is, if the recession continues in Europe, how far will support theEuropean societies to purge being subjected to the population. How will grow theextreme right, how much social protest. The story does not stop and this is a financial coup. The markets have decided to take power. In Greece and Italy, theevidence is complete. They have placed people who have worked one way or another

with Goldman Sachs, a specialist in placing its people in positions of power, but now at the forefront of countries.

What can you do?

Society should consider to continue defending that other solutions are possible.We must return to Keynesian approaches (stimulating economic growth by injecting public money). Not me. They say (Paul) Krugman and (Joseph) Stiglitz. It should be counter-cyclical policies, finding solutions to overcome the situation. I see it difficult to adopt in the current context, but if governments do not decide, let the catastrophe. Perhaps if France loses triple-A, Germany will be sinking the last barrier that protects them. Eurobonds may be a solution to the debt crisis, but otherwise should ban hedge funds (hedge funds), to implement the tax

on transactions, banks do not operate using tax havens. Who is going to do if there is no authority. The euro is the only currency that is not backed by a political authority, no government and markets have realized that they could have easily enriched.

Why Right sweeps in Europe if it brings even deeper cuts than those that have been?

It is possible that part of society, bearing in mind that many mainstream mediainsisting that the line of orthodoxy is the only, accept the idea of cuts. The euronic that generates a lot of discipline disappears. Catalunya is seen in this election. A portion of the electorate thinks it is or cuts or chaos, and vote cuts.The problem is what happens when nothing happens. When the sacrifices they havenot ended the crisis. That's the concern.

Markets really are asked adjustments and reforms, taking into account that not work?

Markets do not know what they want. There is no specific target. Looking to makemoney. But you may end speculation destroy the system.