Tuesday, July 06, 2010

Long history of EU lying lies at the heart of the Euro collapse.

The stress tests on the Eurozone banks may initially be believed by market movers but the general public across the EU has largely long given up any belief in the words of those connected with the EU in Brussels. A report from Reuters India this morning spells out the problems amongst the financiers but the general disbelief amongst the general public as reflected in the comments to this article on the stress tests highlight the deeper and more immediate dangers. The history of the EU over the ERM and EMU, at the centre of which we invariably find Jean-Claude Trichet, leaves no statement from any ECB official, EU Commissioner, Eurocrat or MEP believable by the public at large. The only solution for such a fundamental malaise is to disband the institution as presently constructed and hold the deliberate liars to account for the consequent economic woes. Interesting comment along these lines appeared in the Wall Street Journal, linked here, from which comes this quote: The question now is what is to be done that both ensures the survival of the euro and is also politically feasible. On one thing the eurocracy agrees: it must not trigger an amendment to the Lisbon Treaty, lest voters be given another chance to let their masters know just what they think of the European Project, and torpedo it. Less kindly put, fight fiscal deficits but maintain the EU's democratic deficit at all costs.



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