Capitalism is the problem

Here is a quote from Mark Carney, head of the Bank of England,

"Capitalism is at risk of destroying itself unless bankers realise they have an obligation to create a fairer society, the Bank of England governor has warned.

Mark Carney said bankers had operated a "heads-I-win-tails-you-lose" system. He questioned whether traders met ethical standards and said that those who failed to meet high professional standards should face ostracism."

When we look at the protest vote in the European elections very few of the commentators have fixed on what is the key issue. The European Community was founded on a economically right wing philosophy. It enshrined free market and capitalist beliefs in its structure. So when the financial crisis it was stuck with adopting right wing policies to try to solve the problem.  

The analysis of the cause of the crisis was totally misrepresented, certainly in Britain, as too much public expenditure NOT the irresponsibility of the financial sector, see above. Hence the austerity programme in both Britain and the rest of Europe. We are now seeing claims that it is working, just three years too late and with millions of people out of work. It is a plan that supports the rich and impoverishes the poor. 

The other great myth of this is that austerity has worked, the government has thrown billions at the city via "quantitative easing", Tories never mention this!