The vulnerability of the financial system, the illegitimacy of public debts and the international political struggle for their annulment

Abstract

In Europe the capitalist crisis has taken on theform of bank crises, which present themselvesin the form of state indebtedness. These statesand their bourgeoisies, in particular big finance,try to shift the cost of the crisis to workers ascitizens, attributing to them responsibility for theremuneration of bank capital and fictitious capital,which are in a very vulnerable situation, due tothe difficulties of the EU constitution at the statelevel. The repudiation of public debts can becamethe unifying slogan of anticapitalist revolutionariesin the whole continent, opening the path for aworkers’ Europe.