Yesterday’s panic in the financial markets has been widely compared with the day of the Lehman Brothers collapse almost 3 years ago.
Setting aside the technical differences between bank and sovereign debt failure, we undoubtedly have a repeat of that sense of things falling apart. Neither governments nor financiers have a clue what’s to be done.
And it’s maddening to face the truth that the alternative OneWorld vision of social and environmental justice has once again been caught with its manifesto stuck on line one. The opposition is on the ropes, but there’s no movement to deliver the knock-out.
All the major political parties in North America and Europe are of the same hue, thinking only of the middle ground and the next set of headlines.
Next June’s Rio+20 conference awaits, increasingly desperate for a spark of human inspiration to supersede these epic failures of global economic management.
this post was first published by OneWorld UK