http://www.redpepper.org.uk/the-spanish-bank-bailout-digging-a-deeper-hole/ Red Pepper Sat, 16 Feb 2013 17:28:54 +0000 hourly 1 http://wordpress.org/?v=3.4.1 http://www.redpepper.org.uk/the-spanish-bank-bailout-digging-a-deeper-hole/#comment-60861 John Thu, 21 Jun 2012 13:35:28 +0000 http://www.redpepper.org.uk/?p=7529#comment-60861 What is a system that is "accountable" to "corrupt politicians"? (to reverse Mr. Reyes' polemic) I doubt such a system exists. It seems that any neo-liberal or conservative politician we (on the left) do not like is a "corrupt politician". Right wingers use similar rhetoric in countries like Cuba, Venezuela and Nicaragua. Let us be honest and say that every system has "corrupt" politicians - and let us focus our fire on the system itself. And that will mean coming up with concrete economic and political alternatives such public ownership of the banks and creation of credit cooperatives. What is a system that is “accountable” to “corrupt politicians”? (to reverse Mr. Reyes’ polemic) I doubt such a system exists. It seems that any neo-liberal or conservative politician we (on the left) do not like is a “corrupt politician”. Right wingers use similar rhetoric in countries like Cuba, Venezuela and Nicaragua. Let us be honest and say that every system has “corrupt” politicians – and let us focus our fire on the system itself. And that will mean coming up with concrete economic and political alternatives such public ownership of the banks and creation of credit cooperatives.

]]> http://www.redpepper.org.uk/the-spanish-bank-bailout-digging-a-deeper-hole/#comment-57967 Michael Kenny Tue, 12 Jun 2012 14:10:49 +0000 http://www.redpepper.org.uk/?p=7529#comment-57967 Essentially, what Mr Reyes is saying is that the bank bailout is painful for a lot of ordinary people but, in the immediate short term, there is no realistic alternative to what has been done. The terms offered to Spain do indeed suggest that our leaders accept that austerity has done its job of warding off the Wall St speculators' attack, but the fire is now out and its time to start repairing the damage. And, indeed, thinking about how to prevent anything like this ever happening again. That will certainly encourage voters in Greece and might indeed increase Syriza's vote but it could also work the other way. Since it is clear that any Greek government will get an easing of the bailout terms, people might well think that they are better off with a "safe" government rather than one which foriegn media will inevitably hype as wanting to leave the eurozone. Essentially, what Mr Reyes is saying is that the bank bailout is painful for a lot of ordinary people but, in the immediate short term, there is no realistic alternative to what has been done. The terms offered to Spain do indeed suggest that our leaders accept that austerity has done its job of warding off the Wall St speculators’ attack, but the fire is now out and its time to start repairing the damage. And, indeed, thinking about how to prevent anything like this ever happening again. That will certainly encourage voters in Greece and might indeed increase Syriza’s vote but it could also work the other way. Since it is clear that any Greek government will get an easing of the bailout terms, people might well think that they are better off with a “safe” government rather than one which foriegn media will inevitably hype as wanting to leave the eurozone.

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