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.