Wednesday, 20. June 2012
The Causes & Consequences of the European Debt Crisis
What created the European debt crisis? Was it the “welfare states” as repeated by the mainstream (and even many in the alternative) media, or was it the European Union itself? Was it the euro, the trade policies, or perhaps the major international banks? It is important to look at the causes of the crisis, so that we may better understand the solutions which are being proposed. Over the past few weeks, top ‘Eurocrats’ and central bankers from around the world have been declaring their desire for deeper union: for a fiscal, political, and banking union of Europe. The ‘solutions’ proposed are, in fact, ways to strengthen that which created the crisis in the first place. Problem, reaction, solution. Unfortunately for the people of Europe and beyond, they must – as the people always do – bear the brunt, the hardship, and the pain.
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