The Global Financial Crisis was blamed on extreme capitalism and excessive greed. But social democratic governments caught in it’s net were forced into very extreme measures that have gone directly against their own agenda and hurt the poor badly by the severe austerity programs now following on as debt problems worsen. These include cuts to welfare and privatisation of national assets. As a result they are getting thrown out of office and very right-wing governments getting elected. One of the paradoxes of how precipitous destabilising crises have unexpected consequences.
