“Has it already started?” I asked on 8 July (in Finnish), referring to the possibility of a major new crash anticipated at least since 2009. If this is “it”, we should be seeing the biggest crash ever, accompanied by a deep global depression.
The legitimation crisis of the EU: what is to be done?
On 12 July 2015, Paul Krugman aptly entitled his column in the New York Times “Killing the European Project”. Since SYRIZA’s devastating capitulation, the cosmopolitan Left in Europe has been perplexed by a great dilemma. If the price of a solidaristic rebellion by one government is to become in effect a protectorate, and if there really is no reasonable way of changing the German-dominated neoliberal EU in the foreseeable future, should the Left now side with the populists and nationalists and demand a return to national currencies?
