frenchfry wrote:rhubroma wrote:Amsterhammer wrote:The Governing Council of the European Central Bank today welcomed the commitment by ministers from euro area Member States to take all necessary measures to further improve the resilience of euro area economies and to stand ready to take decisive steps to strengthen Economic and Monetary Union.
Following the decision by the Greek authorities to hold a referendum and the non-prolongation of the EU adjustment programme for Greece, the Governing Council declared it will work closely with the Bank of Greece to maintain financial stability.
Given the current circumstances, the Governing Council decided to maintain the ceiling to the provision of emergency liquidity assistance (ELA) to Greek banks at the level decided on Friday (26 June 2015).
This apparently means that Greek banks may not open tomorrow due to a lack of cash.
Should this be seen as some sort of apocalyptic first step on the road to the collapse of the Euro, and the subsequent possible crumbling of the EU?
The Euro technocrats are saying, no, the Euro isn't in danger, while Germany will be popping champagne corks if, when Greece leaves the EU. Of course, everything is uncertain.
The only thing that the Greek crisis demonstrates is that the European Union is without a political soul. It merely has an economic and financial one that is in simbiosis with the US driven IMF, as the case of Greece and, for example, Hungary demonstrates.
The technocrates of the EU central bank, with full support from the EU parliament, can thus be ruthless with poverty, though are willing to cut more than enough slack to the fascist Hungarian regime. Hence to be poor is criminal, or at any rate economically insolvent, but to be fascist remains within the scope of what's tolerable.
I am exagerating a bit, but how would you like it if you were asked to give money to a neighbor that had been spending like a drunken sailor for years.
When the French economy blows up after decades of 20% deficits, about twice the necessary number of civil servants, a huge number of priviliged (politicians at the head) and everyone clamoring for even more government handouts we will only have ourselves to blame - not the EU, not Germany, not the IMF.
....that would be a bit of an exaggeration if the story included treason criminal conspiracy and massive amounts of fraud but your story doesn't....the story you have laid out is a brazen simplification of a fairy tale floated by the EU and dutifully spread by the MSM's to help mask a very complicated heist and subsequent coverup...