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Costas Isychos: Bankocracy or Democracy?

Projections for 2013, as well as for the foreseeable future of the EU, are more than bleak, as it is certain that the economic, social and political crisis of the continent is bound to deepen and intensify, in case that current policies continue. Such a development could result in an unprecedented historic setback for the political and social project that we have been experiencing for decades in Europe. What we are dealing with is a systemic crisis, which has proven particularly advantageous for countries like Germany, its large industries and its financial system. The European South has been subjected to the most stringent monetary policies with a tremendous impact on the living standards of the people, whereas Greece has served as the first “guinea pig.” Mass unemployment and rapid de-industrialisation, along with the violent “adaptation” of the economic reality, are mathematically leading to unpredictable social upheaval, as well as to extreme-right and neo-Nazi revivals of the 21st century, whose disastrous consequences cannot be assessed yet.

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