Austerity leads to the ‚deterioration of democracy‘ in Europe

This is an article from a member of JUSOS Brussels:

The focus on austerity measures as an ill-conceived panacea against economic mismanagement has led to the transfer of a ‚democratic deficit‘ from the EU-level to the nation-state level

The assertion that there is no systemic alternative to capitalism and neo-liberalism has been a paradigm since the fall of the planned economies. Europe’s crisis is a financial meltdown that has transformed into a sovereign debt crisis that has turned into a contention about politico-economic conceptions about the future of European markets and about the fundamental relation between markets and governments.

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