In 2008 the people of Pakistan voted
into office the PPP, hoping that this would bring genuine change, i.e. a
real improvement in their living conditions. Instead we have a
worsening economic situation, real suffering of the millions of poor,
and warfare killing many innocent civilians. Meanwhile the PPP
leadership is busying itself applying the IMF-imposed policies of cuts
and privatisations. In these conditions it is not surprising that many
are asking themselves what democracy has meant for them.

The eurozone countries in particular are caught in a vice. After the
binge comes the hang-over. The Common Market was set up to develop a
European-wide market as a means of overcoming the narrow constraints of
the
nation state.

The world economy is gradually emerging from the biggest economic crisis
since the 1930s. In Britain last year we saw the biggest fall in
economic
output in any single year since 1921. Now there are signs of a slow
painful
recovery. However, there will be no return to “normality”. The crisis
marks the
end of an epoch economically and politically. We are now entering the
age of
austerity.