"Executive, legislative and judiciary - the economic crisis has done away with this old structure. The last three years with all their ups and downs and breakneck tempo show how obsolete this basic order has become. Nicolas Sarkozy and Angela Merkel announce with satisfaction and with great pomp their projects for Europe? Several hours later a rating agency ridicules them and sweeps them from the table by placing the Eurozone under negative credit watch. The founding structure of democracy has now been replaced by a new and brutal economic power. With nothing to counterbalance or even regulate it, it now controls the others and dictates its own laws."Because courts and national leaders are the ones who are supposed to define rates of interests on bonds, you see – this despite the fact that even the ECB had to postpone a bond auction because there wasn’t enough interest, and the underwriters were left holding the bag.
Note that they don’t take issue with anything real and think the whole thing has to do with Sarkozy and Merkel’s re-election prospects. In other words, anything that happens in the world has nothing to do with the bloated, near command economy they persistently plump for, but rather for whatever the thoroughly misnamed Libération editor and Stepford-child head-bobber feels and want the truth to be.
As if the world was their oyster, and it’s size of the kind of oyster you pick up in a month that doesn’t end in an “R”.
Another persistent theme has been the downgrade S&P of numerous banks worldwide. Apparently they believe that economics is driven by political stances, and so would I if I was as consistently economically illiterate and prone to delusion as they are. S&P, they assume is to be demonized for “practicing politics”, as if their ratings analysts care.
Propagandastaffel position is irresponsible and much less informative than even their own blogs that cover business, markets, and the economy. It isn’t just linear, ignorant, insular, and small-minded, but meant to feed their easy-chair fantasies of being able to inflame a mob against the state. Those days are over. There is no bright hammer-and-sickle to the east that they can point to mendaciously as an example of “how things whould be done”.
The sum of all fears when you’re a leftist living in the prewar days of Soviet Marxist-Leninism?
Never were the report of strengths and weaknesses more apparent, but never has political power seemed so helpless. The presidential campaign will hide the main issue of the political turmoil and the impossibility of any effective political action: three years that have passed have shown that firefighters ran after the fires, always late. Commentators will focus on the beauty of movement and skill of diplomatic compromise. While everything will be played today and tomorrow, in managing the social consequences of the crisis.As if the French left, let alone what they imagine would be the actions of a President Ségolène Royal would have done anything about it the way Zapatero VERY bravely did showing leadership in Spain, even against his own supporters populist bleatings.
What Libé wants is this crisis to not go to any sort of political waste.