J.P. Morgan Says Post-WWII Anti-Fascist Constitutions Are Obstacle To Reimposing Fascism
June 18, 2013 • 9:23AM

In a report entitled "The Euro Area Adjustment: About Halfway There" issued on May 28, 2013, J.P. Morgan argues that the major obstacle to imposing fascism in Europe is the existence of the anti-fascist constitutions which were adopted in Europe following World War II.

The report begins by stating: "The narrative of crisis management in the Euro area has two dimensions: first, designing new institutions for the next steady state (EMU-2); and second, dealing with the national legacy problems, some of which were there at EMU's launch and some of which arose during the first decade of the monetary union's life."

Anti-fascist European constitutions 'appear unsuited to further integration.'

The report continues: "In the early days of the crisis, it was thought that these national legacy problems were largely economic.... But, over time it has become clear that there are also national legacy problems of a political nature. The constitutions and political settlements in the southern periphery, put in place in the aftermath of the fall of fascism, have a number of features which appear to be unsuited to further integration in the region."

The report then becomes more specific:

"The political systems in the periphery were established in the aftermath of dictatorship, and were defined by that experience. Constitutions tend to show a strong socialist influence, reflecting the political strength that left wing parties gained after the defeat of fascism. Political systems around the periphery typically display several of the following features: weak executives; weak central states relative to regions; constitutional protection of labor rights; consensus building systems which foster political clientalism; and the right to protest if unwelcome changes are made to the political status quo."