Austerity Is Turning The EuroZone Into A Dead Zone
James K. Galbraith, like his father, John Kenneth Galbraith, is capable of thinking independently of neoliberal economic cant. He has published a good book that describes how powerful private economic interests, shielded by the cloak provided by “free market economists,” have destroyed European democracy in order to loot EU member countries. The European Union is allied with this expropriation of the public sector by private interests, because the development allows the EU to subvert the sovereignty of member countries and to centralize the fiscal policy of member governments in the EU.
I intended to review Galbraith’s important book, but Michael Hudson has done an expert job.
Here is Hudson’s review From CounterPunch:
http://www.counterpunch.org/2016/10/03/the-poisoned-chalice-from-eurozone-to-dead-zone/ [1]