Wednesday, April 24, 2013

Barroso Attacks Austerity

Another sign that austerity in Europe has run its course: arch-neoliberal José Manuel Barroso has turned against it.

José Manuel Barroso, président de la Commission européenne, n'a pas mâché ses mots en critiquant, lundi 22 avril, la politique de rigueur menée en Europe: "Autant je pense que cette politique est fondamentalement bonne, autant je pense qu'elle a atteint ses limites. Pour être couronnée de succès, une politique doit non seulement être conçue correctement, mais elle doit recueillir un minimum de soutien politique et social", a résumé José Manuel Barroso.
This is an extraordinary statement. It is the first time that a top Troika personality has publicly conceded that austerity cannot succeed without a level of popular support that it cannot conceivably command. Barroso remains convinced, of course that austerity is a "correctly conceived" policy, but he has broken with the technocratic consensus that "correctly conceived" is all that is necessary for success.

Of course he is wrong about the policy being correctly conceived, but that is neither here nor there. The empirical results are in. Austerity has been tried and failed. It's time to move on. If even Barroso can see this, there is hope of movement in the right direction. And this is the first time I've ever had anything positive to say about Barroso.

1 comment:

Anonymous said...

A sign of things to come or an outlier who will be brought back into line: