Down with the Euro regime

The common currency was conceived as the final act of the unification of the capitalist elites in the frame of the European Union. The Euro should have sealed the brazen regime of the capitalist oligarchy led by Germany.

Not only eternal peace between the European nations was promised, which had fought bloody wars against each other for centuries. There was also the prospect of social homogenization between the nations so that periphery would catch up to the living standard in the center. For quite a few years it seemed as if this capitalist dream could become true.

But then came the financial crash of 2007/8 which led to a global economic crisis affecting the global capitalist system until today. The periphery’s boom, mainly built on foreign credit, turned out to be a financial bobble. Capital flew and the bobble was about to burst not only on the periphery but even in the heart of the system – until today it is only tamped by US monetary policy called Quantitative Easing.

At the global periphery before 2007/08 such circumstances would have led to state bankruptcy, exchange rate depreciation (currency devaluation), impoverishment of the population, general economic contraction – most probably under the leadership of the institution of global financial capitalism imposing their model of export-led development. The costs of tradable goods must decrease until they reach a competitive position on the world market (regardless of the social losses imposed). As long as demand was strong enough to absorb the products a new cycle could commence. Before 2007/08 this sometimes even became reality with the credit-driven consumption boom centered in the US. This does, however, not take into consideration that by this means the gap between supply and demands was further widened eventually adding to the underlying reasons of the global crisis.

By definition the Euro regime does not allow this type of structural adjustment as it is being called by the executors and ideologues of the financial oligarchy. The Euro is supposed to remain stable de facto a surrogate for the gold standard. For the German financial establishment this is an unshakable dogma. They are not only defending their main political project for a European order but also their creditor interests. Within the frame of the systems then only one way of structural adjustment remains: internal devaluation. It is causing even more social hardship as in the first place capital get away without much harm (first of all foreign creditors). The economic downturn eventually does hit also local capitalists. The proclaimed aim is the very same: Drive down production costs until competitiveness is achieved. For small economies this might not be impossible. For the large southern European countries the world market is definitely too small.

“Social Europe” as being propagated by the systemic left across the continent does not only affirm the system but constitutes a contradictio in adiecto. The EU and the Euro regime have been built exactly to attack the all mechanisms of social balancing created in the frame of the nation states. Moreover a “social transfer union” cannot be an end in itself. Instead the peoples of Europe must be empowered to generate their income by themselves and thus achieve an equalization of living standards across the continent.

Usually civil society will object: “This is nationalism!” (Actually for Gramsci the term civil society meant the ideological apparatus of the ruling system operating without brute coercion. Today the historic left is providing this apparatus by the name civil society.) Then the starvation of Greece must be internationalist by reverse? Or the “humanitarian wars” are guarantor of peace as they were instituted under Clinton and seconded by the EU? The nation state as arena of struggle must be reclaimed by the subaltern classes. There we will find not only the better conditions of social defense but also to keep democratic rights under attack by supranational institutions like the EU which are under complete control of the capitalist oligarchy. Put differently: It would help the systems if we advised the Greek victims of the Euro to wait until an antagonist movement rises in Germany in order to commonly fight against the regime. Steps towards a renationalization are for the time being the only way of defense of the subaltern classes against the capitalist elites. The nation state is the only place where the power of the oligarchy can be put into question.

We are decided enemies of the Euro regime and the EU. But what does this mean concretely in political terms? In which way it is possible for a peripheral country to exit the Euro and to avoid falling victim of an IMFä-type structural adjustment? And how does this apply for antagonist forces in and around the German center which has been benefiting from the Euro regime? Questions like these should be treated under this rubric.

The current politico-economic crisis rocking the Euro regime with its fierce attacks against the toiling classes is prompting resistance. We want to contribute developing successful self-defense and turn it into political counter-attack. We believe that especially at the periphery the power of the capitalist oligarchy can be shattered in a way that alternatives to their rule are becoming possible. How they can look line will be sketched here.

Programme June 26-28, 2015
Athens International Forum against Euro
Call for an International Forum (Athens 26-28/6/2015) and the establishment of a European Co-ordination of Left political parties, popular organisations and social movements fighting for exit from the European Union, the euro and NATO.
A strong signal against EU austerity – let’s prepare the break with the oligarchy
Together with millions and millions of people in all European countries we rejoice greatly in the electoral success of Sýriza. It is a shot across the bows of the ruling elites in Brussels and Berlin, a sign of resistance against the neo-liberal impoverishment policies. Sýriza is simply a sign of hope for change.
Conference 11-12 January, Chianciano Terme, Italy
How to exit from the Euro – this is the main question posed at the conference. Are we supposed to wait fatalistically for the collapse? Or do we try to build a popular movement in order transform the exit into a step towards a better future?
"Die Souveränität gehört dem Volk"
The international corporate media decided to maintain low profile, but for weeks Italy is revolting. From the northeast down to Sicily a movement called “Forconi” (dung forks) is rocking the country. Actually the Forconi, originating from Sicily, are only one component of the mobilization lending their name.
The acute governmental crisis and the forthcoming mobilisations
Not pure desperation, but a political calculation has guided Berlusconi’s attempt to let all his parliamentarians resign. What would have happened had he succeeded?
Or: full speed towards disaster
AfD's share elevated in the east (secondary votes)
First thoughts on the electoral victory of the ruling oligarchy
Otherwise Berlin will lead us into disaster
The German elites are dictating Europe extreme austerity. The ideology behind that: salvation comes about by emulating the German export-driven wage-deflationary model. Only by means of such drastic treatment the EU periphery could regain competitiveness. In this way these economies are pushed into deep recession with an unknown end. Dozens of millions of people are forced into unprecedented misery which for decades had been considered overcome for capitalist Europe. Eventually Germany itself will be drawn into the vortex of crisis as it is destroying its own markets. The only solution suggesting itself: dissolving the eurozone.
2nd republic drawing to an end
Yes, we want to say it immediately -- for the first time we can enjoy an election result. Let us see why:
Can popular protests be developed to size power from the capitalist elites?
The European Union is experiencing its deepest and most acute crisis ever – both in economic as well as in political terms. We are faced with massive capital flight from Southern Europe to its centre, which is not much longer sustainable. At the same time the imposed austerity is driving a downward spiral into recession leading to mass impoverishment. Popular protests are in the making while the politico-institutional framework is at the brink of collapse. The Euro and the entire EU is being threatened, destabilising the power of the capitalist elites.
Errikos Finalis, leading member of the Communist Organisation of Greece (KOE) which is part of Syriza, on Greece and the Eurozone
Errikos Finalis
The IMF-EU-ECB troika is a colonial-type regime of economic and political occupation dismantling the last traces of bourgeois democracy and national sovereignty. It is leading a policy of social extermination. The diktat of Bruxelles and especially of Germany led Greece into the antechamber of the exit from the Eurozone in order to threaten the Greek people and to keep them politically in check.