by James Petras, July 14, 2016
Introduction: The European Union is controlled by an oligarchy, which dictates socio-economic and political decisions according to the interests of bankers and multi-national business. The central organs of power, the European Commission (EC), the European Central Bank (ECB) and the International Monetary Fund (IMF) have systematically imposed austerity programs that have degraded working conditions, welfare programs, and wages and salaries.
EU policies demanding the free immigration of non-unionized workers to compete with native workers have undermined wage and workplace protections, union membership and class solidarity. EU financial policies have enhanced the power of finance capital and eroded public ownership of strategic economic sectors.
The European Union has imposed fiscal policies set by non-elected oligarchs over and against the will and interests of the democratic electorate. As a result of EU dictates, Greece, Spain, Portugal and Ireland have suffered double-digit unemployment rates, as well…
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