Emiliano Brancaccio, economist, professor at the university of Sannio, author of “Austerity is right wing”

Stefano Fassina, former deputy minister for economy, representative of the left wing of the Partito Democratico

Paolo Ferrero, secretary of Rifundazione Comunista

Vladimiro Giacchè, economist, representative of the Partito dei Comunisti Italiani, president of economic institute Centro Europa Ricerche

Enrico Grazzini, economic journalist for MicroMega and l’Espresso

Leonardo Mazzei, representative of the Coordinamento sinistra contro l’Euro and the Movimento Populare di Liberazione

The single currency, conceived as instrument to overcome the imbalances between the European countries and to enable the union to face the challenges of globalization, failed on both fronts.

While the discrepancies between the strong and the weak countries as well as the inequality within the countries are increasing, Europe has become the epicentre of the global economic crisis.

The monetarist doctrine and the neo-liberal treaties wreaked havoc, which has been serving as foundation of both the Union as well as the single currency, wreaked havoc. Nevertheless the European technocrats and oligarchs continue to impose impossible budget targets and austerity aggravating recession, deflation, mass unemployment and social decay.

The Renzi government, despite its flamboyant and contradictory announcements, is abiding by the dictates from Brussels, Frankfurt and Berlin. While hitting the working people, they continue to offer gifts to the large financial and industrial capitalism pushing Italy into the abyss.

Is it possible to reform the monetary union? Or is its desolation the logic outcome of the crisis? If this is the case how it can be avoided that the recapture of sovereignty by the state is led by reactionary and chauvinist forces?

A leftist exit from the trap of the Euro is not only necessary – it is possible.

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