Uit de Financial Times van 4 mei 2010

Piet Moerman beveelt ons 2 artikelen ter lezing aan:

1) THE MESSAGE FROM BERLIN THAT EUROPE FAILED TO GRASP By Adam Tooze Published: May 4 2010 20:26 | Last updated: May 4 2010 20:26 Does the German government understand what is at stake in the crisis of the eurozone? In recent weeks it has been hard to escape the question. It now seems that Berlin has finally woken up and we may yet avert a disaster. But even assuming that we survive the current crisis, it would be dangerous to minimise what has happened. Behind the difficulties of the past few months lurk deeper changes in German government which, though they have gone largely unnoticed by the outside world, are rooted in recent German history and threaten to have profound implications for Europe.

Last summer, while the mind of the world’s financial community was elsewhere, the grand coalition of Christian Democrats and Social Democrats then ruling in Berlin used its overwhelming majority to pass a balanced budget amendment to the constitution. As of 2016, this requires federal borrowing to be limited to no more than 0.35 per cent of gross domestic product. Despite its dramatic implications for Germany’s eurozone partners, this radical reinterpretation of the stability pact was decided upon unilaterally. It passed largely without comment in the world’s media.

This article can be found at:

2) THE LEFT IS STILL SEARCHING FOR A PRACTICAL PHILOSOPHY By John KayPublished: May 4 2010 20:32 | Last updated: May 4 2010 20:32 What became of the “third way”? After New Labour’s sweeping election victory in Britain in 1997, there was a euphoric moment in which Prime Minister Tony Blair and Bill Clinton, then US president, seemed to offer not just the most charismatic political leadership in the western world, but the prospect of an intellectual revolution in political thought.

In the 1980s, market fundamentalism had gained the ascendancy; the case for socialism had collapsed in the face of the practical failures of socialist regimes. Was there a “third way”, a politics which reconciled the market economy with the values of compassion and fairness that had traditionally motivated the political left? When was government interference with the operation of free markets justified, even necessary, and when did such intervention reduce choice and welfare?

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