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Westerwelle and his colleague, finance minister Wolfgang Schäuble, are two of the most dangerous characters in European politics, along with our own chancellor, George Osborne, for their adherence to the bankrupt idea that Europe cannot compete globally without cuts in real wages, benefits and working conditions.
While there are outmoded practices and crazy spending policies in different countries, attacking the living standards of ordinary workers is not going to produce the confidence we need for growth.
Privately, or in small gatherings, they admit to flaws in their design for global capitalism based on an absence of regulation, but deny it provided the unstable foundations to the boom years. Using Margaret Thatcher's technique of constant repetition in parliament, in the media and to their constituents, monetarists maintain it was the profligacy of social democratic-style governments that was really to blame.
There is no need to repeat the facts and figures that show this is a ridiculous argument. Suffice it to say that virtually all the government's extra borrowing in the past four years replaces missing taxes from property, personal incomes and corporate profits while at the same time paying more in benefits (and that is without including the billions of pounds lost in bank bailouts).
Originally posted by The Sword
There is no true need for austerity measures.
Rather, the wealth and power of those who destroy this world on a daily basis should be brought back to the people.
No wonder "they" are continuing to enjoy the fruits of OUR labor at OUR expense!