European Central bank president Mario Draghi at Dublin Castle, June 2013
The far right are leaving.
And the left should join them.
Nigel Wilmott, letters editor of The Guardian, writes:
Tomorrow despite a wobble over the horrible killing of Jo Cox and Ukip’s appalling poster, I shall be voting to leave the EU – the same way I voted in the 1975 referendum.
However, there is no straight line from one to the other. I have been for many years a strong supporter of the EU and am slightly surprised to be making this choice.
But an EU that is now based on mass unemployment and mass migration is not one worth supporting.
Of course Ukip plays the race card. But I’m still voting for Brexit
Official unemployment is 9% across the union and over 10% in the euro area. And those figures are flattered by unemployment rates of just over 4% in the EU’s biggest country, Germany, and the UK’s rather dubious 5%, which excludes the millions on zero-hours, part-time and temporary contracts.
In Greece, 24% are unemployed and 20% in Spain.
Youth unemployment (under-25s) is 51% in Greece, 45% in Spain, around 40% in Croatia and Italy, and over 30% in Portugal, with an average of 19% across the EU.
The only response in an austerity-bound EU is migration. It was somewhat odd to hear Jeremy Corbyn, the leader of the party of which I am a member, explaining this matter-of-factly and with obvious approval, given the overtones of Norman Tebbit’s “on yer bike”.
And it needs to be remembered that this is not a temporary phenomenon at the bottom of an economic cycle.
This has been the situation more or less since the financial crash in 2008. If anything, we are probably near the top of a cycle with a downturn more likely than a new burst of economic growth.
Apart from the obvious impacts of unemployment on those immediately affected – poverty, lack of status and sense of worth – it keeps down wages generally for those sectors of the labour market affected.
It is this widespread sense of insecurity and fear that drives the growing rightwing populism across the continent, just as it did in the 1930s…