Ordoliberalism has long been the economic philosophy guiding German policy-makers. But with the creation of the eurozone, ordoliberalism has quietly become the default policy-stance for the entire zone. This has been happening with little recognition that ordoliberal ideas have been playing such a profound role. And there’s been even less attention paid to the ordoliberal philosophy itself. Surprise! It’s kind of fascist. Updated 7/26/2013
Previously, we have noted how the eurozone crisis is precipitating a stunning, unprecedented dissolution of national sovereignty. With socialist Francois Hollande having called for more “stimulus” in response to the continent’s austerity-driven, German-mandated depression, the French leader is in the crosshairs.
Pre-conceived German economic policies are bearing long-desired fruit. Unable to find work due to German-dictated “austerity,” skilled workers from Greece and Spain are providing “labor battalions” for Germany. The devastating effects of that same “austerity” is making industrial concerns in Greece and Spain ripe for German corporate takeover.
TIMELINE–November, 2012: Germany’s foreign minister encourages the U.S. to embrace both a “Trans-Atlantic” free trade pact and German-dictated “austerity.” January, 2013: Following Obama’s pivot to Asia, German lawyers and economists decamp to North Korea, in the wake of a heralded “economic and political opening to South Korea and the West.” Early spring, 2013: the Hitler-influenced Asian nation’s leader does just the opposite.
In Europe, the nation-state is being forced into obsolescence, and there is little discussion of this staggering development. Angela Merkel has formally stated that EU members must be ready to surrender sovereignty on fiscal matters.
Europol, its police force, has successfully taken a number of steps that many would see as intrusive, with little or no real application to law enforcement.
Reversing field time and again, the EMU’s not-so-wise men (and women) are destroying business confidence on the part of those who might be inclined to invest in the industrial or financial sectors of the eurozone’s troubled economies. It appears that 75% of Cyprus’ gold reserves are going to be appropriated as part of the “settlement.” Furthermore, this apparently comes as news to the Cypriot officials handling the situation for that unfortunate country.
It is important to understand that German banks are anything but blameless in the European financial crisis. Deutsche Bank carried a large amount of bad debt on its books and lied about it in order to fool investors. In 2007, the Federal Reserve had to help bailout Deutsche Bank. The U.S. sued Deutsche Bank over its manipulation of the American mortgage market.
Luxembourg’s foreign minister has added his voice to those noting German imperial designs lurking behind the facade of the EU/EMU. Jean Asselborn has unequivocally stated that Germany aims for “hegemony” in the euro zone. A growing consensus is emerging echoing this sentiment. Bloggers, financial regulators and government ministers have expressed similar opinions.
What does fiscal “austerity” actually mean to those under its yoke? Since similar policies are being recommended for the United States, let’s take a look at Greece, up close and personal. Greeks going to the hospital must bring their own sheets, as the hospitals long ago fired their cleaning personnel. The suicide rate has doubled. Greek physical education teachers no longer require their students to complete their class requirements, because so many of the students are so undernourished that they get dizzy while exercising. On top of that, many Greeks can no longer afford to bury their dead.
Working together, the GOP and Germany are deliberately pursuing policies to worsen the global economy, in the belief that the deteriorating economy will enable them to realize their political agendas. If they are successful, the result will be world fascism–a global corporate state.