Global Guerrillas: “[The current sovereign debt crisis in Europe is] another battle in a war for dominance between ‘our’ integrated, impersonal global economic system and traditional nation-states. At issue is whether a nation-state serves the interests of the governed or it serves the interests of a global economic system. Who’s winning? The global economic system, of course.…

“When this war ends, and it won’t be long, the global economic and financial system will be the victor. Once that occurs, the nation-states of the West will join those of the global south as hollow states: mere shells of states that serve only to enforce the interests of the global economic system. These new states, more market-states than nation-states, will offer citizens a mere vestige of the public goods they offered historically. Incomes will fall to developing world levels (made easy to due highly portable productivity), and wealth will stratify. Regulatory protections will be weak. …”