The Euro will rally do its work when crises hit, Mundell explained. Removing a government’s control over currency would prevent nasty little elected officials from using Keynesian monetary and fiscal juice to … Continue reading The purpose of the Euro was (and is) to destroy labor unions and get wages down. Period.
But it’s been tougher than it needed to be, since Finland hasn’t been able to do what a country would normally do in this situation: devalue its currency.That’s because Finland doesn’t have a … Continue reading Euro creates problems for many European countries – Business Insider
Of the €252 billion “lent” to Greece, €232.9 billion went to pay off PRIVATE German and French banks who had been gambling people’s money. Greece received less than 10% of the money, yet are being forced to pay off the full amount – and lose evry asset the country has in the process. Continue reading Greek bailout is about destroying democracy, not helping a country.
Germany struggled in the early years of their membership of the Eurozone with deficits well in excess of the Maastricht fiscal rules (maximum of 3 per cent of GDP), which I wrote … Continue reading Germany’s serial breaches of Eurozone rules | Bill Mitchell – billy blog
Piketty: When I hear the Germans say that they maintain a very moral stance about debt and strongly believe that debts must be repaid, then I think: what a huge joke! Germany … Continue reading Thomas Piketty: “Germany has never repaid its debt”
For their countries, realizing the dream of EU membership did not mean achieving liberal democracy, as advertised, but being thrown to the wolves of neoliberal capitalism. Local elites made a killing out … Continue reading A Laboratory Sitting on a Graveyard: Greece and the Neoliberal Debt Crisis – The Los Angeles Review of Books
Video of Speech by the Speaker of the Greek Parliament to an Assembly of speakers of all EU national Parliaments – on the devastating impact of the austerity imposed on Greece and … Continue reading Speaker of the Greek parliament explains impact of austerity on Greece
And it looks far from over. Source: Greece’s depression worse Great Depression Continue reading Greece’s depression worse than the Great Depression
In Greece, since May 6th, 2010, a constitutional coup has taken place. Continue reading Greece’s serfdom, an EU success story
In today’s world, people are witnessing or even experiencing to a certain extent, similar situations, regardless of where they live. The political, economic, and social deterioration of all stages of people’s life, … Continue reading In today’s world, people don’t matter
Of the €400+ Billion that Greece “received” in “bailout” money these past few years, the entire fiasco was about paying off foreign banks, NONE of the money had ANYTHING to do with helping Greece. … Continue reading “Bailout” of Greece: nothing more than bailing out foreign banks
At the official opening of the Greek “Presidency” of the EU (a purely symbolic title bestowed upon every EU country for 6 months) the Greek Minister of Culture, Mr. Panos Panagiotopoulos, started … Continue reading Greek Minister of Culture admits purpose of EU is to become competitive with China’s low wages