Kicking the Cannes Down the Road - by Stephen Lendman
Festering Eurozone economic crisis.
They met. They talked. They agreed to talk more and solved nothing. A November 4 Guardian editorial headlined, "G20 summit: slumping to the occasion," saying:
"Yes they Cannes? Sadly, in the end, no they couldn't." It's well known these summits are more talk than substance. Everything important is agreed in advance when possible. Technocrats do heavy lifting, not political leaders dependent on them.
Nonetheless, economic crisis demands better. Eurozone dealmakers failed. So did G20 leaders. As a result, they're "doomed to have to try again," but given their banker uber alles agenda, defeat again is sure. Only reckoning day delay is possible, not turning things around responsibly.
The best from Cannes was that:
"We all commit to further structural reforms to raise output in our countries." But who commits to what for whose benefit? "We will ensure the IMF continues to have resources to play its systemic role to the benefit of its whole membership."
IMF solutions are trouble, not ways out of it. Operating as loan shark crooks of last result, bad problems get worse.
The Guardian summed up Cannes, saying leaders "provided few answers. All the big questions still remain on the table for next time" under worse crisis conditions because who's willing to solve them responsibly.