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Time to revise the Iceland lesson
As unelected EU apparatchiks sanction the pillage of Greece and Ukraine BRIAN DENNY points to a striking alternative

Anti-austerity campaigners often call for banking controls, long-term public investment, the creation and protection of jobs and taking control of interest rates and monetary policy back from the Bank of England.

All these demands are, of course, illegal within the European Union (EU) and its neoliberal treaties, which demand the free movement of capital and outlaw all forms of protectionism and any real democratic control over the economy.

The reality is that European bankers and their institutions — the European Commission, European Central Bank, IMF, and European Stability Mechanism (ESM) — are turning themselves into virtual feudal dictators on behalf of monopoly finance capital.

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