EXTRACT: The standard complaint from rightwing economists and politicians is that some countries and parties are not sufficiently committed to pushing though ‘reforms’ - by which they mean attacking workers’ rights/conditions and in general rolling back (or ideally dismantling altogether) the gains of the 1950-60s.
Hence the constant attacks on “labour rigidities” and so on. The ruling class wants to make a bonfire of workers’ rights in Europe, with Greece and Italy paving the way. Naturally, there is no alternative course of action if we want to cut deficits and produce healthy, growing, economies - shorn of all waste and inefficiencies. Tough decisions have to be made.
But this has revealed itself to be an unpleasant fantasy. The economics of masochists. Recession is looming over Europe and not even Germany is immune.