Evil capitalists destroy democracy! (Just kidding)

Here is an article which is a worthy addition to my "theatre of the absurd" collection. The author comes with a thesis that capitalism and democracy cannot co-exist. Here is his reasoning of how the advance of capitalism has eroded the democratic system:

"Over the past year, in fact, capitalism has fairly rolled over democracy.[1] Nowhere is this more apparent than in Europe, where financial institutions and large investors have gone to war under the banner of austerity,[2] and governments of nations with not-very-productive or overextended economies have found that they could not satisfy those demands and still cling to power.[3] The elected governments of Greece and Italy have been deposed; financial technocrats are now at the helm of both nations.[4,5] With interest rates on Spanish bonds rising sharply in recent weeks, Spain’s socialist government was unseated last weekend by a center-right party that has offered no solutions to that country’s growing crisis.[6] Now the Sarkozy government in France is threatened by rising interest rates on its bonds.[7] It’s as though the markets throughout Europe have had enough with this democratic sovereignty nonsense."

Let us consider these arguments one by one:
[1]. "Over the past year, in fact, capitalism has fairly rolled over democracy." - If the author implies that the measures undertaken in order to fight the recession and the debt crises in Europe are contradicting the democracy, then it is certainly not sufficient to go one year back: the present economic problems began in 2008, and the economic developments that led to these problems had spanned at least two previous decades.

[2]. " in Europe, where financial institutions and large investors have gone to war under the banner of austerity" Austerity is cutting government spending and deficit, and thus curbing the government control over the population and business. This can hardly be called anti-democratic.

[3] "and governments of nations with not-very-productive or overextended economies have found that they could not satisfy those demands and still cling to power" "Clinging to power" rather than taking care of teh concerns of the populations is certainly not what a democratic government should do. 

[4] "The elected governments of Greece and Italy have been deposed; financial technocrats are now at the helm of both nations." Both Greek and Italian governments were replaced in a democratic manner - in both cases at the suggestion and acceptance by the democratically elected representatives (parliaments).

[5] The departure of Silvio Berlusconi is certainly a win of democracy over the interests of the big business, which Berlusconi represented. It is quite a rare occasion when a left-wing author seriously mourns the demise of the right-wing figure, such as Berlusconi... but just wait...

[6] "Spain’s socialist government was unseated last weekend by a center-right party that has offered no solutions to that country’s growing crisis" Obviously, the socialist Spanish government lost elections precisely because it could not offer solutions to the crisis. In addition, the weak government is now replaced by the one, that ahs a parliamentary majority and can actually deal with the economic problems. The emphasis on the badness of the rightist government is at odds with the affection for Berlusconi displayed just a sentence before... but just wait...

[7] "Now the Sarkozy government in France is threatened by rising interest rates on its bonds" - the author is again friend of the right, this time represented by Sarkozy...