Eurogroup meeting. May 2016. German Finance Minister Wolfgang Schaeuble is talking with the Dutch Minister of Finance, President of the Council Jeroen Dijsselbloem and the Luxembourg Minister of Finance. Thierry Monasse/Press Association. All rights reserved.
In the twentieth century the Left achieved social advances through the nation state. As Pascal Lamy expressed it when he was Head of the World Trade Organisation, “Historically, the success of social democracy was to promote a compromise between labour and capital, between the state and the market and between commercial competition and social solidarity. Globalisation has unhinged the balance by taking away all the domestic levers by which we maintained the compromise”[1] The task is to find new avenues for the social compromises that the left previously created.
