The dinosaur of economic dogma

http://www.guardian.co.uk/business

Between now and the elections in Greece in June, the attention of the media and pundits, particularly in Europe, will be focused on the dire consequences resulting from the exit of Greece from the Euro zone. These tactics of spreading alarm and despondency through the pages of our newspapers and the screens of our televisions, are a not very subtle attempt to frighten the voters of Greece into electing those parties who support German dictates of further austerity, and to convince the rest of us that there is really no alternative to further cuts and reduction of living standards. The truth is of course, rather different. Far and away, the real beneficiaries of austerity are those individuals and organisations who are making considerable amounts of money from the sacrifices of others. Only the interests of Merkel and the Germans, the IMF, the bankers of the Eurozone, the ECB and the speculators of “the markets”, will be met by the continued existence of the extended Eurozone, and the way to perpetuate this dinosaur of economic dogma is to create fear of the consequences of dis integration.

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