Valls and Renzi are pure Blairite, which means there’s little hope for Eurozone

Valls and Renzi, the new prime ministers of France and Italy respectively, have made clear their respect for Blair and their intention to follow his example.   That’s bad news for the Eurozone and for the EU in general.   Blairism is not an economic ideology, but rather a style of leadership that is far more about presentation than substance.   So far from representing any new economic ideas, it swallowed the existing free markets capitalist fundamentalism hook, line and sinker.   That’s why following the Blairite line in France and Italy, both countries in deep economic difficulty, is likely to be so self-destructive.   Free market deregulated capitalism isn’t part of the answer, it’s the central problem.   The international economy tanked in 2008-9 because the banks had too much power and negligently and recklessly abused it, and the UK has taken so long to recover because deregulated capitalism decimated British industry in the previous 3 decades in favour of the City of London, whilst at the same time generating the biggest inequality between the very rich and the very poor since the Edwardian age.   To regard  such a programme, which Blair eagerly promoted, as a model for recovery borders on absurdity. 

Blairism was always based on rarefied rhetoric without much grasp (or interest in) the detail of reforms needed.   It was a platform for personal advancement and access to world leaders, so any significant deviation from the conventional wisdom or more relevantly from the coat-tails of US presidents was never seriously on the cards.    Blair presided over the run-up to the crash which began in August 2007, just a few months after he was forced out in May, so he bears significant responsibility for this disastrous economic collapse.   The idea that he has anything worthwhile to offer to a country that is effectively bankrupt (Italy) or in free-fall decline (France) is laughable.

The real problem is that the Left have notoriously failed to come up with any credible alternative economic paradigm.   Such a programme must obviously hinge on ditching austerity and using public investment to promote sustainable economic expansion and job creation.   Blair is in favour of austerity, cutting expenditure and benefits, and advancing the Tory package for so-called welfare reform, whilst leaving the ultra-rich (like himself) intact.   A programme more calculated to bring the masses on to the streets and to lose elections it’s difficult to imagine.

5 thoughts on “Valls and Renzi are pure Blairite, which means there’s little hope for Eurozone

  1. This is exactly the same Blair who started to dismantle the NHS, (who loaded it down with preposterous PFI debts and private sector contracts,) and who’s wife is now so brazenly involved in trying organize a retailing private healthcare franchises through outlets in Tesco stores but only for people who can afford them so what hope for the NHS if Labor get back in?

    Personally it’s symptomatic of the complete moral failure of the European Union that he isn’t now standing trial in the Hague for war crimes along with all the other modern European war criminals.

    Personally I still firmly believe that day must yet come and that I will live to see it.

    Times and people change and these days the Teflon is looking more than a bit scratched and chipped, and, “untouchable,” always sounds to much like, “unsinkable.”

  2. A good comment from this morning’s Independent wit which I agree almost completely:

    Can Milliband or anyone from the Labour Party rebut this:

    “Before 1997 the Labour Party represented the working class people and stood up for their rights. After 1997 that all changed. They became a right-wing party who used Thatcherite economic policies. The working class became the enemy who they set about attacking with propaganda, nanny state laws and surveillance. The working class became something the Labour Party and their rich and powerful colleagues in the business world needed to protect themselves against. They sold off our assets to friends for a discount without our permission.”

    “And what about your charismatic leaders, Blair and Straw, who are responsible for murdering hundreds of thousands of Iraqis on behalf of the banks and oil companies?”

    Can’t really add much to that.

  3. Blair certainly moved the labour party form the centrist left to being a right wing party he is also a dyed in the wool europhile despite them not making him the first “president’ of the eussr, after he agreed to the constitution without a referendum.

  4. jpcw is correct in all sais
    Personally it’s symptomatic of the complete moral failure of the European Union that he isn’t now standing trial in the Hague for war crimes along with all the other modern European war criminals.
    yet all of you now whots happening to many who are on benefits deemed scroungers even when they work 40or50or even 60 hrs just to live yet mps ministers incharge carry on has if we the 99percent haven’t a say in it its about time they awoke and threw all out it seems the house needs a deep clean out without it we are doomed by their greed for money when all along that 99percent paid for you not you for they yes times fast running out I haD HOPE GREED could have been put aside but alas another 300pounds in around jan when that 99percent feel austerity isn’t a great crime but crime it is against humanity us while we loss at every turn its either change back and rid yourself of that greed or it will cost you all in the end I just wonder will I see it jeff3

  5. Modern Monetary Theory offers the analysis and the solutions. The UK as the issuer of Sterling can never run out of money and can fund any job creation proposal that it wishes, provided that the ‘money’ created does not exceed its potential for creating ‘stuff’. With 2.5m unemployed, some 5m underemployed, climate change, an energy crisis, social care crisis etc, there is no danger of inflation. An economy should be run for the benefit of its people and not to facilitate the over-accumulation of wealth by the few.

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