Five Minutes with Noam Chomsky: The Euro Crisis and the Welfare State

"Europe’s policies make sense only on one assumption: that the goal is to try and undermine and unravel the welfare state. And that’s almost been said. Mario Draghi, the President of the European Central Bank, had an interview with the Wall Street Journal where he said that the social contract in Europe is dead. He wasn’t advocating it, he was describing it, but that’s essentially what the policies lead to. Perhaps not ‘dead’, that’s an exaggeration, but under attack."