Frans Bieckmann is former executive director and editor in chief at The Broker. He left The Broker in december 2017. He is currently employed as Strategic Advisor at the Gemeente Amsterdam. Frans has a degree in international relations at the University of Amsterdam and has 30 years’ experience as a researcher, journalist and advisor on issues in development and globalization. In August 2012, Frans published the book Soedan – Het sinistere spel om macht, rijkdom en olie, a detailed analysis of international involvement with Sudan and the conflict in Darfur.
After a few years of crisis-born reticence, the European Commission is back in love with the financial sector. Presented as a way of stimulating the dragging economic growth in the EU, the Commission has recently proposed a series of new financial reforms called the Capital Markets Union (CMU).
Since the summer of 2015, European media and politicians have devoted significant attention to the refugee crisis. As a result, the crisis in the Eurozone, which had previously dominated discussions in the media and among politicians, seems to have disappeared.
Is the current recovery policy for the financial and economic crises in the Eurozone a genuine answer for the complexity and diversity of the problems that all member states face? Not really. The responses are too one-sided and mainly export and austerity driven. In particular, the current policy ignores the fact that the euro crisis is a systemic crisis that cannot be overcome with more of the same.
The structural causes of the euro crisis – high unemployment, low growth rates and debt-ridden states in the eurozone – are not the fault of lazy Greeks, Portuguese and Spaniards. The euro itself cannot be blamed either. The problem is that the European single currency is part and parcel of an economic and financial model which contains all the ingredients for the current crisis.