Financial Markets, Money Creation & the European Debt Crisis
How does Europe's ongoing debt crisis relate to financial markets and the monetary system? This episode portends to be an introduction to the subject of Europe's debt crisis, its causes, effects and evolution over the years. Of particular relevance is the creation of the euro, trade 'imbalances' between states, the dependence on financial markets (banks!) for government funding, and the ideological and institutional reaction to the crisis, aiming to establish the EU as a 'competitive' environment on a global scale, representing a 'race to the bottom' for Europe's labour market and population, trying to compete with cheap-labour economies in Asia and elsewhere.
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