madam president world capitalism is experiencing its worst crisis since the great depression
as then it is the working class and the poor who are paying dearly for and suffering the consequences of this whether in europe or in the poorest countries on earth
world bank researchers predict that in twenty ten alone sixty-four million more people will be plunged into extreme poverty by the crisis and that because of it in two thousand and nine between thirty zero and fifty zero children have already died in africa of malnutrition
this crisis is having devastating consequences on world trade but the demand of the united nations financial summit last year for example that the conclusion of the doha round of trade negotiations is the answer is utterly wrong
according to the respected ngo war on want that would threaten a further seven point five million workers with losing their jobs including in the poorest countries
this crisis of world capitalism is enormously exacerbated by the activities of the financial speculators on the world markets
not content with having precipitated the crisis these parasites now want to exploit it to rake in further billions
did the eu commission see the headline in the yesterday traders in record bet against the euro
but what does the commission do
it falls on its knees in front of the speculators and demands that the countries worst hit by the crisis like greece make savage cuts in workers wages pensions and public services
what do you think such a draconian programme of cuts is going to do for trade either in europe or in the world
if you cut the ability of the working class to purchase goods and services then you cut demand for those goods and services which means you cut millions more jobs of workers who would provide them
that concretely is the prescription of the commission
therefore the tens of thousands of greek workers who marched yesterday were absolutely right
capitalism can only bring more suffering and crisis
we need to replace it with a system of human solidarity based on the values of democratic socialism
