The day the EU lost its moral authority

The pictures could have been hardly more dramatic on 2 March 2020. Syrian refugees in a fragile boat in open sea are desperate for help and yet they are greeted with canon fire by a hostile Greek coastguard. The day fire was opened on vulnerable people on the EU’s border is the day, the European project lost its moral authority. How did it happen that a project established to overcome war between European countries had lost its moral compass to such an extent?

Capitalism and its response to crises: Who pays?

The global economy is yet again under severe pressure. While it was the global financial market crisis, which shook the global economy to its core in 2007/2008, it is now the coronavirus, which has increasingly undermined capitalist accumulation. With countries forced to implement strong control measures, closing their borders and asking people to stay at home, the global economy based on production in global value chains is more and more under pressure. Job losses in the airlines industry are likely to be only the first signs of rising unemployment with the whole travel industry under immediate pressure. As in 2007/2008, governments are committed to investing large amounts of money in order to keep the economy afloat for the benefit of everyone, as they argue. Nevertheless, what can we learn from the experience of more than ten years ago?

Photo by Sergio Santos