Portugal: A programme against the debt tyranny

2012-08-02 · first published in marxsite · 107 words

This was not a Socialist Resistance publication. marxsite was Phil Hearse’s own long-form site, run alongside the paper he helped edit. It is kept here with his agreement, recovered from the Internet Archive after the domain lapsed and was taken over by someone else; nothing here links to the address it now points at.

Only a fragment of this survives. It may have been a short link-and-comment post, which marxsite ran many of, or the opening of a longer piece cut off by the capture — from what remains there is no way to tell which.

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1. In a previous resolution by the National Council, the proposals for a European response against speculation by the financial markets were defined. In these proposals a strategy for a partial pooling of the debt and to assure financing of the European economies was presented. Left Bloc maintains these guidelines. Spain’s financial collapse and the constant threat over Italy clearly show that the European Union needs a financing mechanism independent from the financial markets, and this mechanism is the issuing of Eurobonds and having the ECB as the entity financing in the last resort the European states.

The capture this was recovered from