First you get the official EU party line, the key point is highlighted !
Warning that "the sovereign crisis is not over", Dominique Strauss-Kahn, the IMF managing director and a likely French presidential candidate, called on the European Union to move responsibility for fiscal discipline and structural reform to a central body that is free from the influences of member states.
The proposal from so powerful a figure will dismay Ireland and other peripheral euro-zone nations already fearful of a loss of sovereignty as the price of a bail-out. Ireland is expected to agree a rescue of up to €100bn (£85bn) within days, in the form of a low-cost loan to shore up the banks.
The scale of Ireland's problems was laid bare on Friday by Allied Irish Banks, which revealed that it has lost €13bn of customer deposits – mostly "institutional and corporate" – since the start of the year, 17pc of its entire deposit base.
http://www.telegraph.co.uk/fin ... wers-given-to-Europe.html
Then this will give a left wing but fairly accurate review of whats happening.
The Financial Times argued that using the €440 billion European Financial Stability Facility (EFSF) to cover the bad debts of the financial elite by propping up zombie banks, while driving the Irish state closer to default, would be “a fatal mistake.” The Times insisted that such a policy was shortsighted and self-defeating, since sovereign defaults would trigger new financial panics and bankruptcies.
“It would,” the Times wrote, “keep the Irish people indentured to those who recklessly fund their banks: EFSF funds must, after all, be paid back by taxpayers. It would also give an official EU imprimatur on Europe’s dirty secret: public treasuries will do anything to make private bank creditors whole.”
The newspaper admits that a tiny financial elite, which it describes as “reckless,” is looting public treasuries in order to cover its speculative failures, reducing entire populations in the process to the status of “indentured” servants. It is this single-minded pursuit that drives the decisions of governments throughout Europe.
http://globalresearch.ca/index.php?context=va&aid=22005
And then there's the actual political results of these actions.
But what happens when enough voters, in what might be called a nation state, inside the euro zone, one day soon decide that they want to change their government? I don't mean reshuffle their political elite, drilled by the bond markets and common currency orthodoxy, but vote to really head off in a new direction right or left, a direction that requires an independent economic policy. Perhaps such voters in countries including Ireland will always be relaxed when they discover the option has been permanently removed by the ECB and EU. But what happens if they are not so relaxed?
Skepticism about the European project leads to nationalism and extremism, said Mr. Van Rompuy last week. It is equally possible that designing a new form of government that does not have democracy at its heart will anger voters and provide an opening for extremists.
http://online.wsj.com/article/ ... 04575618882596104888.html
So, as an analysis, the banks, after committing at best massive fraud, have handed the debt over to the public and then, as your not credit worthy according to the banks, owing to the massive debt you got from the same banks, they get to forclose on you.
And this appears to be completely supported by the IMF ( Bankers ) and the EU controllers ( Bankers, check rompuys past in banking ! )
Anyone see a common thread ?
Warning that "the sovereign crisis is not over", Dominique Strauss-Kahn, the IMF managing director and a likely French presidential candidate, called on the European Union to move responsibility for fiscal discipline and structural reform to a central body that is free from the influences of member states.
The proposal from so powerful a figure will dismay Ireland and other peripheral euro-zone nations already fearful of a loss of sovereignty as the price of a bail-out. Ireland is expected to agree a rescue of up to €100bn (£85bn) within days, in the form of a low-cost loan to shore up the banks.
The scale of Ireland's problems was laid bare on Friday by Allied Irish Banks, which revealed that it has lost €13bn of customer deposits – mostly "institutional and corporate" – since the start of the year, 17pc of its entire deposit base.
http://www.telegraph.co.uk/fin ... wers-given-to-Europe.html
Then this will give a left wing but fairly accurate review of whats happening.
The Financial Times argued that using the €440 billion European Financial Stability Facility (EFSF) to cover the bad debts of the financial elite by propping up zombie banks, while driving the Irish state closer to default, would be “a fatal mistake.” The Times insisted that such a policy was shortsighted and self-defeating, since sovereign defaults would trigger new financial panics and bankruptcies.
“It would,” the Times wrote, “keep the Irish people indentured to those who recklessly fund their banks: EFSF funds must, after all, be paid back by taxpayers. It would also give an official EU imprimatur on Europe’s dirty secret: public treasuries will do anything to make private bank creditors whole.”
The newspaper admits that a tiny financial elite, which it describes as “reckless,” is looting public treasuries in order to cover its speculative failures, reducing entire populations in the process to the status of “indentured” servants. It is this single-minded pursuit that drives the decisions of governments throughout Europe.
http://globalresearch.ca/index.php?context=va&aid=22005
And then there's the actual political results of these actions.
But what happens when enough voters, in what might be called a nation state, inside the euro zone, one day soon decide that they want to change their government? I don't mean reshuffle their political elite, drilled by the bond markets and common currency orthodoxy, but vote to really head off in a new direction right or left, a direction that requires an independent economic policy. Perhaps such voters in countries including Ireland will always be relaxed when they discover the option has been permanently removed by the ECB and EU. But what happens if they are not so relaxed?
Skepticism about the European project leads to nationalism and extremism, said Mr. Van Rompuy last week. It is equally possible that designing a new form of government that does not have democracy at its heart will anger voters and provide an opening for extremists.
http://online.wsj.com/article/ ... 04575618882596104888.html
So, as an analysis, the banks, after committing at best massive fraud, have handed the debt over to the public and then, as your not credit worthy according to the banks, owing to the massive debt you got from the same banks, they get to forclose on you.
And this appears to be completely supported by the IMF ( Bankers ) and the EU controllers ( Bankers, check rompuys past in banking ! )
Anyone see a common thread ?