Africa: A New Spectre Is Haunting Europe

17 January 2019

Rome — After Teresa May's defeat in the British parliament it is clear that a new spectre is haunting Europe. It is no longer the spectre of communism, which opens Marx's Manifesto of 1848; it is the spectre of the failure of neoliberal globalisation, which reigned uncontested following the fall of the Berlin Wall, until the financial crisis of 2009.

In 2008, governments spent the astounding amount of 62 trillion dollars to save the financial system, and close to that amount in 2009 (see Britannica Book of the Year, 2017), According to a US Federal Reserve study, it cost each American 70,000 dollars.

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