An intellectual storming of the beaches is required in Europe
Seventy years ago today there was a major mobilisation – D Day – designed to free Europe from the German military (and ideological) oppression. The allied troops stormed the beaches at Normandy as part of the so-called ‘Operation Overlord’, which quickly liberated France and set up the campaign that would end Germany’s dominance. Unfortunately, modern day Europe is caught up in a different form of German ideological oppression and the economic consequences have been devastating. The European Central Bank showed yesterday how stifling this oppression is when they made what were considered ‘historic’ changes to policy, which any reasonable assessment would conclude will do very little to stimulate growth. The policy mentality is in denial of history and economic logic. But with fiscal policy bolted down by the neo-liberal ideology there is no room to grow. Another major invasion of Europe is needed – an intellectual storming of the beaches. That is the only way the euro-zone nations will liberate themselves from the current malaise.