Published on Global Research.ca, by Eric Toussaint and Damien Millet, June 8, 2009.
The partisans of capitalism, and among them, prominently, the EU leaders, have lost all credibility. For years now they have trampled on the rights of peoples while not wavering when it came to making decisions directly opposed to their advertised principles in order to bail out major banks.
European government parties could have acted differently and nationalised the banks, thus retrieving the cost of the bailout on the patrimony of major shareholders and CEOs. The public credit instrument that would have resulted could finance socially useful and environment-friendly projects while guaranteeing individual savings. The crisis has brought back onto the agenda proposals that had been swept aside during the long neoliberal night such as a radical reduction of working time (with creation of jobs and no loss of pay) or indexation of wages and social benefits on the cost of living. Europe needs new financial discipline: company ledgers have to be opened to external and internal auditing (through the trade unions among others), all financial products must be regulated, and it must be forbidden for companies to have assets in any tax haven. Major means of production, trade, finance, communication and other services must be transferred to the public sphere and taken away from capitalists’ control. Access to public goods must be systematically promoted.
In a political perspective, European citizens must retrieve the political power that has been taken away from them. The populations who were able to have their say on the Constitutional Treaty turned it down, but leaders ignored their votes without a second thought. Meanwhile Venezuela , Ecuador and Bolivia show us the way. There, citizens elected a Constituant Assembly in order to draw up a new draft Constitution, which is to be discussed with social movements and sanctioned by referenda. In these three countries voters can now revoke any elected representative mid-mandate, whereas no European Constitution mentions any such highly democratic mechanism …
… Capitalism, patriarchy, and all forms of oppression will not disappear of their own accord: only the conscious and deliberate actions of men and women can yield another system whose goals would be to guarantee indivisible human rights and to protect the environment. We must free our minds of the tragic Stalinist caricature of communism, do away with capitalism, and invent an ecologically viable, socialist and feminist project rooted in the realities of the 21st century. (full text).