The future of humanity depends on whether “too big to fail” sectors of the economy are taken under public control, creating a step-up socialist model, believes Peter Mertens, Belgian politician and author, the head of the Workers’ Party of Belgium.

­The root of the ongoing crisis is overcapacity in the production, Mertens believes. He says the policy of creating artificial consumption was a stopgap measure and it has failed.

Europe is at a crossing point, Mertens told RT. The choices are, keep the euro at the expense of renouncing national sovereignties to live in an authoritarian German-led Eurozone, or split up into several conglomerates. Yet there is a third way, when strong mass movements find political translation to go for something like a socialist Europe with public banking and energy systems and true democracy.