The working class will now pay for these huge sums of money in the form of welfare cuts, wage cuts and unemployment. With the new euro rescue package, the European governments have placed themselves completely at the mercy of international financial capital. If they do not drastically reduce their budget deficits, the next wave of speculation will inevitably follow. If the financial guarantees are then called upon, the holes in the state budgets will grow, demanding even greater austerity measures.
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Thursday, May 13, 2010
Euro aid package inaugurates offensive against working class
from World Socialist Web Site.