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#### Europe will be social, environmental and united, otherwise it would not exist. * Dear European citizens, the policies we have pursued since monetary union have brought us to the brink of the abyss. Today, it's time to take a giant step forward. This is the message that European leaders are sending to their people. The Stability Pact has proven ineffective and harmful. But the Euro Charter, its successor, exacerbates the logic of wage and budget suppression. The financial sector has caused the economic crisis and ballooning public debt, but eurozone governments and the European Commission are insisting on making more concessions to the markets. Like Greece, Ireland and Portugal, all European countries will have to undergo harsh austerity policies. In each country, these policies fuel nationalism and xenophobia. Economists, appalled by the situation, showed through their statement that other policies were possible in Europe. They are sticking to their position. While Ireland exemplifies, in exaggerated form, how to make public the cost of bank excesses, Iceland is trying a different tack with some success. Issuing European bonds, new sources of tax revenue, coordinating economic policies for different developments, reforming the central bank, and restructuring public debt are all paths that economists are discussing with concern. Either Europe will be social, environmental and united, or it will disappear.