Austeritarian

And for your Sunday night delectation, we have a reading from the letter of Enda to the Austeritarians…

Austeritarians bang on about the debt while failing to plug revenue holes.

Nevertheless, it is useful to briefly discuss the theoretical controversies about admissible levels of debt and the tolerable duration of significant fiscal imbalances to explain why it is impossible to authoritatively delineate the universe of truly troubling cases of sustained and excessive debt accumulation from more moderate ones, and to establish that this book does not need to take sides in the academically and politically fraught debate between "austeritarians" and Keynesians.

The will to convene this Summit of the peoples and alternatives is based on a call (www.altersummit.eu ) that identifies the fundamentally political dimension of the EU crisis : the austeritarian answers are chosen knowingly although they aggravate the crisis, to impose a failover of the social order to an ultra-liberal model - at the cost of millions of jobs, abrupt social decline and significant threats to democracy itself.

This observation is especially important because with our criticism of the existing ‘structural reforms’ being pushed through by the ‘austeritarian regime’ we do not mean to encourage the belief that reforms are not necessary; they are, especially in those countries most badly affected by the crisis.

Financial capital and multinational companies impose an austeritarian turn (austerity and authoritarianism).