Saturday, April 09, 2011

Schauble seeks to justify Ecofin Oppression ahead of Budapest demonstrations!

Reuters reports the German Finance Minister's scathing and insensitive remarks ahead of demonstrations in Budapest, as linked from here, of which these quotes seem most apt:

"The rules are very clear. Whoever needs assistance by other European member states and member states of the euro zone, he has to deliver sustainable measures for reducing the deficits because the deficits are the reason why they need help," German Finance Minister Wolfgang Schaeuble told reporters.....

Schaeuble said the protests were wrong and that austerity was needed to ensure sustainable economic growth.
"I can understand, but I think it's wrong because what we are doing is to work for a sustainable framework for growth and for sustainable growth a stable currency is a pre-condition, and stable budgets are a pre-condition -- if we run too high deficits (we are not upholding) our responsibility to future generations," he said.

In fact what is taking place is the deliberate destruction of the last traces of democracy within the EU, merely to protect the financial positions of the badly investing banks of the major member states. In the process, by Quantatitive Easing in the UK and irresponsible andsecretive ECB financing of already bankrupt states, elsewhere, the futures of coming generations of EU citizens have been thrown to the wolves to ensure they never breathe the air of democratic freedom for which their forefathers fought down the centuries.

Had Europe wished to be governed by Germany, surely our forebears would have long ago surrendered and accepted that fate, if not earlier, then certainly in the twentieth century, thus avoiding two horrendous worldwide conflicts.



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