Main focus of Monday, March 30, 2009

Europe hits the streets in protest

Tens of thousands have hit the streets in Europe in the run-up to the G20 summit in London, calling for a socially equitable solution to the global economic crisis. The European press reflects the tense mood.

La Repubblica - Italy

In the left-liberal daily La Repubblica John Lloyd praises the broad-based nature of the demonstrations against the G20. "Protests have flared in Spain and France, Italy and Britain, diverse in their targets but all mobilising a resentment that living standards, outraged by those above, should be also threatened from below. ... Equality thus becomes a cross-party matter. It is already hydra-headed. ... [In] the past few decades ... everyone could be a winner. ... Now all of us are or will be losers, in one way or other: and the sour weight of our losses and rage will, if stopping short of burning bankers, underpin the rhetoric and perhaps the reality of more equable societies, at least for a time. It may, indeed, be good for us." (29/03/2009)

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More from the press review on the subject » Consumers, » Europe
All available articles from » John Lloyd

The Independent - United Kingdom

The Independent comments on the protests in London against the upcoming G20 summit: "Some express a cynical view of international summits, accusing them of producing little more than platitudes and of failing to justify all the excitement. Certainly, many gatherings of world leaders over the years have been guilty of under-delivering. But this meeting promises to be different, not least because of the turbulent global environment in which it is taking place in. The world economy is in the midst of a synchronised financial crisis and economic downturn. Whatever agreement these global leaders produce will affect confidence in the financial markets. ... The stakes are high, and true political leadership is urgently called for. We need to hope that this generation of politicians will rise to the formidable challenges of the moment and prove the cynics wrong." (30/03/2009)

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More from the press review on the subject » Security Policy / Crises / War, » Fiscal Policy, » Global

Frankfurter Rundschau - Germany

Two demonstrations took place on the weekend in Berlin and Frankfurt with the motto "We're not paying for your crisis", giving vent to frustrations over the consequences of the financial and economic crisis. The daily Frankfurter Rundschau writes: "The problem with this crisis, and what makes it hard to protest against, is ... the lack of an addressee, someone against whom the protest can be directed. Large social and political movements such as those articulated in the protests against the Nato Double-Track Decision at the end of the 1970s and the development of nuclear energy in the beginning of the 80s were directed against a manifest government policy. The large gesture of opposition had a clearly formulated political basis. In the current financial crisis, however, government policy cannot be construed as a social opponent. Condemnation of the errors and misconduct of the responsible financial managers is encountered across the political spectrum." (30/03/2009)

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More from the press review on the subject » International Relations, » Security Policy / Crises / War, » Domestic Policy, » Fiscal Policy, » Economic Policy, » Germany, » Global
All available articles from » Harry Nutt

Gândul - Romania

Commenting on the approaching G20 summit in London the daily Gandul writes: "The positions on the two sides of the Atlantic are hard to reconcile, for both sides have had negative experiences. During the crisis of the 1930s … the market was supposed to separate the wheat from the chaff. … But this economic philosophy can also cause political and social chaos. Bankruptcies result in unemployment, panic and street demonstrations. While in the United States this approach to treating the patient led to unemployment without turning into an extreme rightwing movement, in Europe it led to a rapid inflation which fuelled social tensions and aided Hitler's rise to power. The Second World War ensued. Europeans have not  forgotten the dangers of inflation, which they regard as enemy number one for the economy and for socio-political life." (30/03/2009)

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More from the press review on the subject » International Relations, » Fiscal Policy, » Economic Policy, » Europe, » North America, » Global, » Romania
All available articles from » Gheorghe Cercelescu

Les Echos - France

The business paper Les Echos comments on the Europe-wide protests preceding the London G20 summit, warning summit participants not to repeat the errors of the past: "According to an OECD study published today, public funds for the developing countries ... remain below the targets set by the industrial states, and consequently far below the amount needed to meet the urgent new needs engendered by the crisis. The poorest countries have been hit broadside by the collapse in global trade. ... Meanwhile, an additional warning concerns the means adopted by the industrial states to handle the crisis. This warning comes from Angela Merkel and the financial markets. While the United States argue that more should be done to stimulate the economy, the German chancellor stressed in an interview with the Financial Times that the crisis wasn't caused by an insufficient amount of debt or liquidity, but by the very opposite. ... This warning reminds us that there is a limit to public debt, and is valid across the world." (30/03/2009)

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More from the press review on the subject » Fiscal Policy, » Economic Policy, » Global
All available articles from » Nicolas Barré

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