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Capital is now largely free from regulation; it is a liberated predator; it roams the world seeking grants and subsidies, tax incentives and cheap labour that is unprotected either by strong labour movements and/or regulated labour markets.
Dependent as they are on capital investment, national states and labour movements have increasingly `bowed the knee' to the new order; our government preaches against the vice of taxation; it extols the virtues of deregulation and flexible labour markets; our trade union leaders speak positively to these developments as `modernisation'; they share the government view that nothing must be done to make Britain unattractive to foreign direct investors, or, God forbid, to provoke transnationals into disinvestment. This ability to disinvest is the basis of the new sovereignty of capital - look at what is happening to Brazil.
Nation states like Britain cannot hit back by excluding transnationals from their markets; doing so would provoke further disinvestments
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and W.T.O. sanctions which would be difficult to withstand.
The message is, therefore, a simple one: If nation states are to confront capital they must learn to act in concert; national sovereignties must be pooled to the creation of political and economic entities which are large and powerful enough to act against capital. Euroland is such an entity. National labour movements must support its development, and must act in concert so as to be able to influence and, ultimately, win control of it. A socialist Euroland is a far better bet in the battle against capital than a socialist Britain standing on its own. If we work for the former we have a chance. If we remain stuck in the latter we will effectively sell the pass to the enemy.
So, let's give half a cheer for the Euro!
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September 18 No to War in Iraq - Exeter Socialist Alliance meeting, St Sidwells Centre, Sidwell Street Exeter 7-30pm.
September 28 National Stop the War demonstration, London (see back page for coach details).
October 5 Respect anti-racist conference at St George's Hall.
October 12 SA national conference on Europe, open to all SA members.
October 16 Exeter SA meeting, St Sidwells Centre. Topic of discussion to be confirmed - maybe Che Guevera or Zapatistas
November 7-10, European Social Forum, Florence
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