An informative presentation and lively discussion, with prominent Spanish MMT economist, activist and founder of RedMMT, Stuart Medina Miltimore, on the implications of MMT for the future of progressive reform for the nations of Europe and beyond. We CAN avoid another lost generation in Europe, and for that matter in Australia too.
“The Coronavirus pandemic has exacted an horrific toll on the citizens of Spain. On top of the Covid-19 health crisis – over 3 million cases and more than 70,000 deaths – Spain has experienced a devastating economic crisis with GDP falling over 11% in 2020 and unemployment sky-rocketing to 16% with some cities reaching 30% and national youth unemployment at 40%.
Next Generation EU, the €750 billion European Union Recovery Fund announced in July 2020 to counter these devastating effects, was heralded by Pablo Iglesias, the Second Vice President of Spain and leader of Unidas Podemos, as “a new era in the country’s political economy, one that makes a definitive break with the neoliberal period of cuts and austerity”. Iglesias celebrated the ‘generous’ sum, of which Spain is earmarked to receive €140 billion, as not only delivering without the harsh demands of structural reform, but also promising measures directed at supporting an expansive industrial policy and new green technologies. However, as our guest speaker, Stuart Medina Miltimore, will explicate, it would seem with closer scrutiny that the large sums and big talk about progressive reform obscure the true neoliberal agenda. Sadly, the battle for a progressive Europe against neoliberalism continues.