Flickr. European Council President. Some rights reserved.After months of tense negotiations, Europe and Greece have finally reached a new bailout deal. Shadowing these talks were fears of a “Grexit” and, potentially, the breakup of the European Union.
The talks also highlighted growing ideological and political divisions within the continent and also globally. Syriza’s struggle against the Troika reflected larger disagreements regarding economic austerity and the rising power of financial capitalism. It was a David vs. Goliath battle of two opposing worldviews – social welfare vs. fiscal responsibility.
At the heart of this battle are questions over the future of democracy in an increasingly hostile capitalist world. It spoke to fundamental issues of present day power, politics and economics. For example, what right does a country have to determine its own economic policies? What right does an international organisation or another country have in deciding such issues for them?
