ChatterBank8 mins ago
Where Will The Money Come From.
Who's going to fund this massive bailout, let me guess, the EU, so that's us as we are in the eu, I thought the eu was a good thing.
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Dave.
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Dave.
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The severity of Italy’s economic problems (and those of Greece, Portugal and Spain) is down to one thing and one thing alone – the wretched single currency. These countries are suffering “internal
20:19 Tue 29th Nov 2016
The severity of Italy’s economic problems (and those of Greece, Portugal and Spain) is down to one thing and one thing alone – the wretched single currency. These countries are suffering “internal devaluation” – a process designed by the Euromaniacs to address imbalances across the Eurozone and a process which has utterly failed. They cannot alter their interest rates. More importantly they cannot alter their currency exchange rates because the currency they use is not theirs to manipulate. They are tied into a currency which has been designed principally to suit Germany. They have a currency that, essentially, they cannot afford to use.
Like that other “crowning achievement” of the European Project – the Schengen Area – the euro is a “fair weather” project. Fine in theory so long as everything is hunky-dory. However, when the excrement hits the air conditioning individual nations have no tools to address their economic problems. This fact was pointed out when both these stupid projects were being devised. The warnings were brushed aside as nothing could be allowed to hamper European integration.
European leaders have kept the lid on the euro crisis and have pledged to defend the currency whatever the cost. The cost so far has been huge financial support from other member nations, massive unemployment in Spain, Greece and Italy, and poverty among many of the citizens of those countries. Jean-Claude Junckers has pleaded with other EU members not to hold referendums on EU membership because he feels they will produce votes to leave. Events such as this clearly demonstrate why his fears are well founded. The Euromaniacs will defend their project to the death but the casualties in that war will be the ordinary working folk in the impoverished Eurozone countries. It’s about time EU leaders took a long hard look at the car smash that is the euro and put it and the people using it out of their misery. This would hopefully be followed by a swift collapse of the entire EU organisation. But I won’t hold my breath.
Like that other “crowning achievement” of the European Project – the Schengen Area – the euro is a “fair weather” project. Fine in theory so long as everything is hunky-dory. However, when the excrement hits the air conditioning individual nations have no tools to address their economic problems. This fact was pointed out when both these stupid projects were being devised. The warnings were brushed aside as nothing could be allowed to hamper European integration.
European leaders have kept the lid on the euro crisis and have pledged to defend the currency whatever the cost. The cost so far has been huge financial support from other member nations, massive unemployment in Spain, Greece and Italy, and poverty among many of the citizens of those countries. Jean-Claude Junckers has pleaded with other EU members not to hold referendums on EU membership because he feels they will produce votes to leave. Events such as this clearly demonstrate why his fears are well founded. The Euromaniacs will defend their project to the death but the casualties in that war will be the ordinary working folk in the impoverished Eurozone countries. It’s about time EU leaders took a long hard look at the car smash that is the euro and put it and the people using it out of their misery. This would hopefully be followed by a swift collapse of the entire EU organisation. But I won’t hold my breath.
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