| European Socialists Unpopular During Economic Crisis |
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| by Tom McGregor | Wed, Sep 30, 2009, 01:46 AM |
 The specter of socialism’s collapse is hovering over Europe , even in the midst of one of the most significant challenges to capitalism in 75 years, which involves a breakdown of a financial system, due to “irrational exuberance,” greed and the weakness of regulatory systems. Nonetheless, European Socialist parties and their left-wing cousins have not found a compelling response, nor let alone taken advantage of the conservatives’ failures.
The New York Times reports that, “German voters clobbered the Social Democratic Party on Sunday, giving it only 23 percent of the vote, its worst performance since World War II. In the summer’s European parliament elections, voters also punished left-leaning candidates and trounced French Socialists in 2007. Yet, the left still holds power in Great Britain and France , although it’s under a barrage of attacks. In the nations of Italy , France and Germany , the left is divided and listless. According to the NY Times, “some American conservatives demonize President Obama’s fiscal stimulus and healthcare overhaul as a dangerous trend toward European-style Socialism – but it is Europe ’s right, not left, that is setting its political agenda.” Europe’s center-right parties are embracing many of the principles of the left. They endorse generous welfare benefits, nationalized health care, drastic reductions on carbon emissions, the ceding of some sovereignty to the European Union. Actually, they have won votes by pledging to deliver more efficiently than the left, while striving to lower taxes, improve financial regulations, and deal with ageing populations. Michel Winock, a historian at the Paris Institute di Etudes Politiques, believes that Europe ’s conservatives “have adopted themselves to modernity.” President Nicolas Sarkozy of France and Chancellor Angela Merkel of Germany both condemned the excesses of the “Anglo-Saxon model” of capitalism, while supporting the protective power of the state. They are utilizing Socialist ideals that have become mainstream he claimed. To read the entire article from the New York Times, link here: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
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written by Ian Perry , October 01, 2009 "breakdown of a financial system, due to “irrational exuberance,” greed and the weakness of regulatory systems." We hardly need stronger regulatory systems. If the government was not intervening in such areas as the housing market we would likely not have this crisis, and if the government would lower regulations, spending, and taxes we could get out of it with a stronger economy than we had before. Write comment
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