cancel2 2022
Canceled
Ben Delicious writes from Brussels
A lot of words have been uttered about the debt crisis in the Eurozone and how it was supposedly caused by governments in less developed countries like Greece, Portugal and Ireland, spending way too much on salaries and pensions in the public sector and on welfare. Nothing to do with banks gambling away hundreds of billions on dodgy schemes and selling toxic debts packaged as financial products to their customers. Not to mention collusion between politicians and the money men, who gave away cheap loans to create a feel good factor for the masses, while the big boys made some serious profits, not least by getting subsidies from the governments to plug holes in their giant projects.But if you think that the debt crisis is the biggest concern that the EU cabal has, then think again. The European Central Bank has enough paper to print more new money to keep things going for a while yet. Especially as having a single currency allows to pull off the huge con with keeping the markets afloat by injecting vast amounts of money into them, fooling everyone into thinking that some strategy is being implemented to overcome the current crisis. The euro is scared for the commissars and the rest of the unelected clique in Brussels that lives in a world different from the one others live in. No work and all play.
But there’s one thing that really, really scares the shit out of the Euro mafia. And that is the possibility of Greece leaving the single currency, getting its currency back and then… actually sorting out its mess. That would be a total disaster for the whole EU project. That, ladies and gentlemen, might actually signal the end of the single currency as know it and cause the first cracks to appear in the monstrosity that we know as the European Union. Because once Greece starts getting its act together, outside the Eurozone, other countries that are in similar trouble would think: hold on, why don’t we do the same? And after a while there would be several defectors and then some more.
And how, you may ask, these ‘renegades’ would be able to resolve their debt problem. Well, they would devalue their national currencies and boost their exports, just like Iceland did that is now growing faster than the Eurozone. Control of your national currency is a powerful instrument, if you get the right sort of people to run your finances, unlike what is happening now in Britain, for example, where a bunch of novices and bent bankers are calling all the shots and instead of sorting out the mess creating even more of it.
So, what I’m saying here is that the reason why the Eurocrats are doing everything possible to keep Greece in the single currency is because they are afraid for their own jobs, not for the future of Europe’s economy. If the euro was about proper economics countries like Ireland, Greece and Portugal and most of the East European EU members would have never joined it. And if several countries leave the single currency then the whole corrupt arrangement will crash.
Nervous times for EU bureaucrats. So much to lose if things go horribly wrong with Greece.
A lot of words have been uttered about the debt crisis in the Eurozone and how it was supposedly caused by governments in less developed countries like Greece, Portugal and Ireland, spending way too much on salaries and pensions in the public sector and on welfare. Nothing to do with banks gambling away hundreds of billions on dodgy schemes and selling toxic debts packaged as financial products to their customers. Not to mention collusion between politicians and the money men, who gave away cheap loans to create a feel good factor for the masses, while the big boys made some serious profits, not least by getting subsidies from the governments to plug holes in their giant projects.But if you think that the debt crisis is the biggest concern that the EU cabal has, then think again. The European Central Bank has enough paper to print more new money to keep things going for a while yet. Especially as having a single currency allows to pull off the huge con with keeping the markets afloat by injecting vast amounts of money into them, fooling everyone into thinking that some strategy is being implemented to overcome the current crisis. The euro is scared for the commissars and the rest of the unelected clique in Brussels that lives in a world different from the one others live in. No work and all play.
But there’s one thing that really, really scares the shit out of the Euro mafia. And that is the possibility of Greece leaving the single currency, getting its currency back and then… actually sorting out its mess. That would be a total disaster for the whole EU project. That, ladies and gentlemen, might actually signal the end of the single currency as know it and cause the first cracks to appear in the monstrosity that we know as the European Union. Because once Greece starts getting its act together, outside the Eurozone, other countries that are in similar trouble would think: hold on, why don’t we do the same? And after a while there would be several defectors and then some more.
And how, you may ask, these ‘renegades’ would be able to resolve their debt problem. Well, they would devalue their national currencies and boost their exports, just like Iceland did that is now growing faster than the Eurozone. Control of your national currency is a powerful instrument, if you get the right sort of people to run your finances, unlike what is happening now in Britain, for example, where a bunch of novices and bent bankers are calling all the shots and instead of sorting out the mess creating even more of it.
So, what I’m saying here is that the reason why the Eurocrats are doing everything possible to keep Greece in the single currency is because they are afraid for their own jobs, not for the future of Europe’s economy. If the euro was about proper economics countries like Ireland, Greece and Portugal and most of the East European EU members would have never joined it. And if several countries leave the single currency then the whole corrupt arrangement will crash.
Nervous times for EU bureaucrats. So much to lose if things go horribly wrong with Greece.
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