Can he really not see what happened in Ireland and Latvia, and what is taking place in Greece? Did he somehow not notice that Greece falls short of its growth targets every time the screws are turned tighter? This is like watching a medieval doctor apply more leeches to a patient that has already passed out from blood loss. There is no prosperity happy ending in this story, save for a very few at the top. And the process is not “belt tightening” but open warfare on basic social structures.
Goldman Sachs stooges conduct a massive assault on the working classes of Europe, in broad daylight.
If Patrick Honohan declared recently that he had no inclination to seek the removal of Occupy Dame Street from outside the Central Bank, it strikes me that this is because at no point has there even been the faintest flutter of attention drawn to Honohan’s role at the ECB, or the function fulfilled by the Irish Central Bank presently, in terms of its relation to the ECB. Why on earth would he want to get rid of them when they’re helping draw attention away from all of this? I am not interested in heaping criticism on the people currently outside the Central Bank for this: there has been a generalised unwillingness, or perhaps indifference is the better word, to highlighting the destructive role played by this institution.
I don’t know why this is, maybe there just aren’t enough people engaged with this sort of thing, maybe the press is still geared towards representing them as benevolent uncles or stern and noble technocrats and therefore above or beyond criticism. This, of course, is precisely as the ECB is supposed to be seen by the public, according to its initial design – independent of public interference, and concerned obsessively but nobly with the inflation beast which, unless relentlessly fought back, would lead Europe to meltdown. In reality, the ECB exists to drive down the wages of the working class relative to those of the class of which Goldman Sachs bankers like Draghi form part.
But even Draghi justifies his claims for the operations conducted by the ECB in terms of it being a public institution: why don’t people start highlighting and challenging the immense destruction caused by these supposedly public -but entirely anti-democratic- institutions? To refuse to contest this terrain simply means conceding the idea that banking lobbies should have decisive control over institutions supposed to serve the public.