4383b1c9_r_blogs_on_the_economic_crisis__Blog
[Date] 13/06/2012 [Blog] 
State is the enforcer of austerity Q. Why did the 100 billion euro loan to bailout Spanish banks recycled from the 27 members of the European Union via the European Financial Stability Mechanism go to the government rather than, as some wanted, direct to the banks where it is needed? A. Because the people who run the EFSM act as ciphers for the needs of the global capitalist system. And they have to ensure that states – governments, civil administrations, legal system, armed forces including police – extract the repayments on the loans from their populations.
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