The tyranny and mismanagement of liberal social democracies in the Eurozone could lead back into military dictatorship warns European Commission President Jose Manuel Barroso.
“In an extraordinary briefing to trade union chiefs last week, Commission President Jose Manuel Barroso set out an ‘apocalyptic’ vision in which crisis-hit countries in southern Europe could fall victim to military coups or popular uprisings as interest rates soar and public services collapse because their governments run out of money.”
John Monks, head of the European TUC said of a conversation he had with Mr. Barroso,
“I had a discussion with Barroso last Friday about what can be done for Greece, Spain, Portugal and the rest and his message was blunt: “Look, if they do not carry out these austerity packages, these countries could virtually disappear in the way that we know them as democracies. They’ve got no choice, this is it.”
Mr. Monks continues stating of the proposed austerity measures, “this is extremely dangerous” and that the cutbacks themselves could cause social unrest and lead to dictatorship.
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The good news for Mr. Monks and the trade unionist of Europe is that for the time being, money does grow on trees or at least on the central banks’ printing presses. So the day of reckoning will not be tomorrow for the Greeks. A few more bailouts may keep the party going a little while longer, but with every good party, eventually you run out of alcohol and it is time to clean up.
The bailouts and debt explosion across the Eurozone has already put in question the viability of the supranational currency, the Euro. These policies will eventually lead to a full blown currency crisis and collapse thereby siphoning wealth from every saver and effectively stealing from private bank accounts, but that is the point of collectivism. With all collectivist social models, this reverse pyramid of public debt built upon the backs and labor of private enterprise is unsustainable regardless of the wishes of Mr. Monks in accepting austerity. The question is not whether or not Greece and all the PIIGS will have to endure austerity measures, it is whether or not it will be legislative austerity and somewhat directed and controlled, or if it will be market driven austerity and chaos that comes with a hyperinflationary environment.