Naked Capitalism gives some props to Flassbeck and in the comments one commenter shows himself
I am troubled by the comment that public reaction to this crisis will be to move more to the right.
Reality-based thinker that Flassbeck is, this is just a statement of fact given the European political landscapes. As he keeps pointing out in his articles on, since the “center-left” “social” democrats have jettisoned the “left” part, there is not much play for leftist ideas in the MSM. Far right parties like the Front National in France, the NDP in Germany, Golden Dawn in Greece pick up the banner of changing economic policies and wed it to xenophobia. In some cases there is not much work to be done – given the “lazy Greeks” narrative emanating from the German CDU (and similar narratives in Greece as Varoufakis points out time and again on NC, or more generally in the entire EU, given the immigration policies), xenophobia is pretty mainstream already.
This has the disgusting result that I actually agree more with those far right parties (at least according to their party and election programs) than I agree with the conservatives, “social” democrats, liberals, and neo-liberal greens (such as the German ones).
Of course I agree even more with actual left-wing parties like Syriza, Front de Gauche or Die Linke, who offer the same changing economic policies without the xenophobia. Since the scape goating gets more play in the MSM, however, their pulling people to the left happens slower than the right-wingers pull to the right.
And then the mainstream parties follow the pull…