Maravi

Recession is not an end to capitalism - Zelaya

Recession is not an end to capitalism - Zelaya
Written by Larry Moonze in Havana, Cuba
Wednesday, March 04, 2009 8:27:06 PM

THE global recession does not mark an end to savage capitalism, Honduran President Manuel Zelaya has warned.

Addressing the ongoing 11th International Economists Conference on Globalisation and Problems of Development at Havana’s Convention Palace on Tuesday, President Zelaya said everyone must now search for changes that would bring about a just globalization so as to save humanity.

“The current crisis stemmed from capitalism and obviously we know this crisis is grave but it is not marking the end of the capitalist system,” he said.

President Zelaya said financial capitalism and its savage globalization was not yet dead.

He said the financial meltdown that started in the USA had provoked worldwide economic recession, unemployment, capital flight and dependence in trading relations.

President Zelaya said apart from learning lessons countries must now pursue a globalization of solidarity like that being developed by Latin Americans and the Caribbean.

He said not long ago those who espoused socialism were demonised. President Zelaya said the kingdom of market forces was so powerful that it was above politics. He said it was such a manual of perfect idiocy.

“We politicians should now celebrate that there is a return of politics,” President Zelaya said.

He said today there was a possibility that leaders could retake decisions from market forces that had abused and impoverished their entire world.

President Zelaya said the return to politics over capitalist tendencies did not mean defending state fundamentalism.

He called for social morals that put limits to everything ranging from property ownership, investment, the function of society to privileges.

“There should no be hegemony of the Wall Street,” he said. “Today those who applied the Washington Consensus are defeated by history. Those people provoked today’s problems yet we still see them keep defending their fundamentalist policies. They still want to impose instruments of how to administer the world.”

President Zelaya said countries that implemented the Washington Consensus observed how the capacity of state diminished with the coming of privatization while economic liberalization produced discrimination.

He said defending society, the women and children who remained vulnerable of all humanity, meant fighting for a reformed globalization.

“We cannot continue helping organizations of inequity and violence,” President Zelaya said. “Globalisation must open its frontiers, agendas. We demand that capitalism must have morals and ethics.”

He said on the other side developing countries should improve the quality of their democracy so that it became a social exercise.

President Zelaya called on the G20, due to meet in April in London, to fulfill their commitment on making sure development cooperation with poor nations carried no conditions.

He said a new world economic order that included UN reforms was overdue.

President Zelaya said Honduras admired and respected Cuba for its fight for independence and sovereignty.

Labels: GREAT DEPRESSION II, HONDURAS, MANUEL ZELAYA, NEOLIBERALISM

posted by MrK @ 8:26 PM