History should be warning enough: the left must prepare a coherent alternative to the slash and burn of austerity – and fast The last economic crisis never ended, and another one may loom. Europeans have endured years of unemployment and underemployment, stagnating or falling living standards, and cuts to state services on a scale ranging from steep to decimation. The disintegration of Syria has sent a tidal wave of human misery crashing over the country’s borders, some of it lapping on the shores of the European continent. And already the populist, anti-immigration right is in a strong position, from Sweden to France, Greece to the Netherlands. So when Greece’s motorcycling former finance minister Yanis Varoufakis warns that Europe could be falling into “a modern 1930s”, it is time to sit up, listen – and prepare. Related: The five fears stalking the global banking industry Continue reading...
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