ATHENS, GREECE — In the second and previous installment of this series, which generated a great deal of consternation — reflecting the inferiority complex and pro-EU dogmatism prevalent in much of Greek society — the grim future Greece would face by opting to retain its
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Eight years into the deepest economic depression that an industrialized country has ever experienced, we are now being told that Greece is a “success story.” Having accepted the “bitter medicine” prescribed by the “troika”—the European Commission, the European Central Bank, and the International Monetary Fund—the storyline today is that Greece is on the road to recovery, firmly within the European Union and the eurozone.
According to economist Roger Bootle, the EU has grown unsustainable and due to various factors, is about to burst. (AP/Francisco Seco)
LONDON– The recent triggering of Article 50 of the European Union’s Lisbon Treaty by the United Kingdom has formally set into motion the process of Britain’s departure from the EU, an action that is in line with the result of last June’s referendum, where 52 percent of British voters chose to leave the union.
Today it's all about Europe folks, and this important article from F. William Engdahl:
Is Euroland on Verge of Disintegration? http://journal-neo.org/2017/04/20/is-euroland-on-verge-of-disintegratio…
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The post NEWS AND VIEWS FROM THE NEFARIUM APRIL 20 2017 appeared first on Giza Death Star.
Could we see Greeks purchasing their next coffee with USD?
As the Greek debt crisis resurfaces for a third time, Donald Trump’s reported pick as EU ambassador, Professor Ted Malloch, has revealed that senior Greek economists have enquired about the possibility of adopting USD’s if the country crashes out of the eurozone single currency.
Malloch said that Athens is so desperate to quite the eurozone, it is prepared to tie itself to the dollar, much like Puerto Rico.
The Euro is murdering the nations and economies of the EU quite literally. Since the fixed currency regime came into effect, replacing national currencies in transactions in 2002, the fixed exchange rate regime has devastated industry in the periphery states of the 19 Euro members while giving disproportionate benefit to Germany. The consequence has been a little-noted industrial contraction and lack of possibility to deal with resulting banking crises. The Euro is a monetarist disaster and the EU dissolution is now pre-programmed as just one consequence.
The euro reacted to the ECB’s announcements on Thursday by rising to its highest position against the US dollar in two weeks [Xinhua]
The euro hit a two-week high against the US dollar late Thursday after the European Central Bank (ECB) agreed to keep it’s current stimulus (quantitative easing) program as is with no change.
Just ahead of markets closing in Europe on Thursday, the euro rose 0.67 per cent to 1.134 against the dollar.
