Stephen Lendman: Wrecking Europe to Fix It

by Stephen Lendman, opednews.com, Dec 12, 2011

Deepening Eurozone crisis spreads globally.

From inception, Eurozone monetary union was an idea doomed to fail. Nonetheless, it was engineered fraudulently to look workable.

In 1979, Europe’s Exchange Rate Mechanism (ERM) was introduced as part of the European Monetary System (EMS) to propel the continent to one European currency unit (ECU).

ERM never worked. ECU is failing. At issue is duplicity, conflicts of interest, and uniting 17 dissimilar countries under rigid euro straightjacket rules. Doing so usurps their monetary and fiscal autonomy disastrously.

Nonetheless, banking giants partnered with EU, ECB and IMF Troika power decide everything. Policies require lowering living standards, sacking public workers, and selling off state assets lock, stock and barrel at fire sale prices.

Continues >>

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: