Adaner Usmani: I wanted to begin by asking you about the history that precedes the crisis, and specifically about the evolution of European social democracy. On the one hand we have seen social democratic governments in Greece, France and elsewhere entirely complicit in the evisceration of the welfare state, and in the imposition of austerity. On the other hand, the tradition of which they’re a part brought many benefits to Europe’s working classes. The welfare state is a real achievement, after all, and it’s arguably held up better than many radicals argue. Certainly there’s a strong current of academic literature, known as the Varieties of Capitalism (VOC) school, which argues that its degeneration has been overstated.