Posted on 02/12/2015 2:10:28 PM PST by Lorianne
The political centre across southern Europe is disintegrating. Establishment parties of centre-left and centre-right - La Casta, as they say in Spain - have successively immolated themselves enforcing EMU debt-deflation.
Spain's neo-Bolivarian Podemos party refuses to fade. It has endured crippling internal rifts. It has shrugged off hostile press coverage over financial ties to Venezuela. Nothing sticks.
The insurrectionists who came from nowhere last year - with Trotskyist roots and more radical views than those of Syriza in Greece - are pulling further ahead in the polls. The latest Metroscopia survey gave Podemos 28pc. The ruling conservatives have dropped to 21pc.
The once-great PSOE - Spanish Workers Socialist Party - has fallen to 18pc and risks fading away like the Dutch Labour Party, or the French Socialists, or Greece's Pasok. You can defend EMU policies, or you can defend your political base, but you cannot do both.
(Excerpt) Read more at telegraph.co.uk ...
There goes the EU.
What is the point in protesting? If the government is out of money and can’t borrow any more, what can be done?
You had to figure that once Greece forced the Eurocrats to blink, voters in all the other deadbeat countries were going to see that and follow suit.
Cold War Deuce.
If Germany was smart, it would leave the EU. Germans are actually useful in this world.
Stop bailing them out until they put their big boy pants on.
It appears that we are being economically colonized by Asia. Yet Europe refuses to surrender it’s standard of living in the face of a falling GDP. And we are following right behind them.
It certainly could be the end of the Euro zone.
Britain’s decision to stay out of the Euro zone was once very controversial. The pro-Euro crowd said that the British were giving up a chance to participate in “the Continent’s greatest financial revolution”. Keeping the Pound Sterling is now looking like the smartest financial decision in the century.
“If the government is out of money and can’t borrow any more, what can be done?”
The individual nations gave up their sovereignty to a socialist semi-monarchy of unelected permanent politicians. THEY can print new money on demand. The debtor nations are asking them to simply print more Euros the way Obama did here. Germany, who has not been profligate would suffer while Greece, Italy and Spain would continue spending Germany’s money. Essentially, this will be a huge hidden tax on Germans.
who says they can’t borrow? a banker with bad loans and no collateral might rather loan a bit more than write it all down
remember the EU bought the debt at absurd prices and then turn around and manipulated the sales. similar to burning the house and making an insurance claim even though the arsonist admits the crime.
Riot of course. That solved everything.
takeawy line of the articleThere comes a point when a society breaks and stops believing anything its leaders say.
That’s exactly what is going on. To preserve the standard of living for one spoiled generation, they are selling their posterity into slavery (and we are as well).
Yes, except, when the government does it, they don’t have to worry about anyone charging them with fraud.
That's right, and all of them want to keep their juicy pensions.
Well, as we are seeing, if there aren't enough taxpayers to come up with the cash to pay the pensioners, guess what happens.
Cuts, layoffs, and economic collapse.
We're getting a mere "sample" of that in the US right now.
But it's going to get worse, much worse.
Pretty sure that the Great Depression hit Europe first, then the US.
If Europe collapses, AGAIN, the US won't be far behind.
Are you getting a whiff of the Thirty Years War here? Protestant Northern Europe versus Catholic/Orthodox Southern Europe?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.