This just in from The Observer

Peter Beaumont, their foreign affairs editor, is a very confused man indeed.

His argument is that the euro project is neo-liberal, the euro project is causing problems and thus it\’s all the neo-liberals fault.

But given that the euro project is anything but neo-liberal, it\’s actually a social democratic project to exclude neo-liberalism from certain parts of economic life, this analysis does rather fail.

They\’ll be employing Oolon Colluphid at that paper soon…..

7 thoughts on “This just in from The Observer”

  1. He has to keep his readers happy. It’s fashionable at the moment to blame neoliberalism for all the world’s ills. Or banks. Or – ideally – both. “Hang the evil neoliberal libertarian bankers”…..

  2. “Bond traders – that is parasites, leeches and usurers who manipulate some mysterious and all-commanding force called the ‘money markets’ – have, by their rampant greed, demonstrated that, increasingly, they are a danger to democracy. ”


  3. Further to that link from formertory…..

    Following the demise of MF Global, we have created a new principle to define certain types of financial trading activity. It’s called BOB’s Law – Bl**dy Obviously Bent….

    (h/t Mike Parker)

  4. One of the things I’ve noticed about the left over the years is their extraordinary ability to create a system (read mess) and then when their grand vision goes tits up, to turn around and blame the right for it. They’ve become absolute masters of it. As you rightly point out Tim, the Euro was very much a social democratic project from the start, so hearing Barroso and the rest of his Commie mates sit there and blame these mythical ‘Bond Traders’ and ‘Credit Rating Agencies’ for the Euro’s downfall has been nothing short of hilarious…

  5. Beaumont is not actually talking about the Eurozone but the whole global economy.
    First sentence”Are the following intimations of a global crisis in the legitimacy of western democracy?”
    Later “What’s more,national governments and even supra-national political groupings ,have struggled when confronted by the destructive failure of truly global mechanisms such as the world’s banking system and the bond markets”

  6. I came across a guy asserting that Italy and Greece were examples of the failures of neoliberalism the other day. I think to a large part of the world now neoliberal is just an unthinking term of abuse.

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