Democracy vs. Germany
To: European Union leaders:
As citizens concerned about the impacts of the economic crisis, we call on you to calm the panicky markets without compromising peoples' democratic rights to vote on economic policies that will save our jobs and services. History shows that austerity cannot save economies. Be bold and invest in a prosperous future for Europe and the world.
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Merkel knows the markets are just irrationally panicking, and that if she and the European Central Bank stood behind Italy, the crisis would disappear overnight. But she's using the panic to force Europe to legislate "austerity" -- the favourite and failed economics of the bankers.
From the US to Greece, we're seeing that knee-capping a government's ability to borrow and spend in times of recession is the worst thing we can do. It contracts the real economy, which hurts public finances, and it all spirals downward. Austerity doesn't work, but Merkel is trying to make it constitutional law -- so our democracies can never change it! The crucial summit begins in 48 hours -- let's make sure democracy is invited, and tell our leaders that we will not trade democracy for German loans:
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