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Avvenire - Italy | Tuesday, August 25, 2015

Don't leave it to speculators

The state must take the sceptre out of speculators' hands once more, the Catholic daily newspaper Avvenire concludes in view of the global stock market collapse which began in China: "The message we are receiving in the face of this turbulence on the Chinese market is that today the financial system is the only true world power. We should not ignore it or leave it to experts. The massive speculation bubbles that were once the exception are threatening to become the rule in this new financial capitalism. … As long as our economies create affluence that is decoupled from our working lives, then it is probable that this fake affluence will be destroyed by the Chinese financial bubble today and by another tomorrow. ... In order to avoid such unfortunate scenarios, politics must once again take control of the situation, both on a local level and on a global level."

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