Corporate Power / Big Business' Destructive EU

Big Business' Neoliberal Destruction of Europe - Greece, Italy for now...

The Trilateral Commission’s oft-cited Crisis of Democracy report of 1975 argued, from the establishment’s perspective, that a multi-level response was required. One aimed not only at reducing the bargaining power of labour, but also at promoting ‘a greater degree of moderation in democracy’ and a greater disengagement (..) to be achieved by spreading ‘apathy’." -- 'The EU cannot be democratised - here’s why', 2018, by Thomas Fazi and Bill Mitchell

"It's very hard to fire workers in Europe," he complained. His answer: the euro. - The euro would really do its work when crises hit, Mundell explained. Removing a government's control over currency would prevent nasty little elected officials from using Keynesian monetary and fiscal juice to pull a nation out of recession. "It puts monetary policy out of the reach of politicians," he said. " (And) without fiscal policy, the only way nations can keep jobs is by the competitive reduction of rules on business." He cited labor laws, environmental regulations and, of course, taxes. All would be flushed away by the euro. Democracy would not be allowed to interfere with the marketplace – or the plumbing." -- Greg Palast: 'Robert Mundell, evil genius of the euro', 2012, Guardian
"Even more importantly, Tooze marshals evidence from the memoirs of the then US Treasury Secretary, Timothy Geithner, to show that the German and French governments under Angela Merkel and Nicolas Sarkozy were seeking the help of the US administration to “unseat the Italian prime minister.” He concludes by quoting a German chancellery official as saying: “We do regime change better than the Americans”." Adam Tooze: Did They Really Save The Euro?, Oct. 2018, Social Europe
"I was reading John Maynard Keynes recently – circa 1928 – that is, 8 years before the publication of the General Theory with his Treatise on Money intervening. He was railing against the principles and practice of ‘sound finance’, which he noted had deliberately caused billions of pounds in lost income for the British economy. He urged the Treasury and the Bank of England to abandon their conservative (austerity) approach to the economy and, instead, embark on wide-scale fiscal stimulus to create jobs and prosperity. He concluded that with thousands of workers idling away in mass unemployment that it was “utterly imbecile to say that we cannot afford” to stimulate employment via large-scale public works – building infrastructure etc. He considered the policy makers who opposed such options were caught up in “the delirium of mental confusion”. The stark reality is that 88 years later, he could have written exactly the same article and would have been ‘right on the money’. We are being led (euphemism) by imbeciles." We are being led by imbeciles, 2016, Bill Mitchell
"The euro has taken away the possibility for national governments to manage their economies in a meaningful way — and in Italy, just as in Greece a couple of years ago, the people have had to pay the true costs of its concomitant misguided austerity policies. - The unfolding of the repeated economic crises in euroland during the last decade has shown beyond any doubts that the euro is not only an economic project but just as much a political one. What the neoliberal revolution during the 1980s and 1990s didn’t manage to accomplish, the euro shall now force on us.

But do the peoples of Europe really want to deprive themselves of economic autonomy, enforce lower wages and slash social welfare at the slightest sign of economic distress? Is increasing income inequality and a federal überstate really the stuff that our dreams are made of? I doubt it. History ought to act as a deterrent. During the 1930s our economies didn’t come out of the depression until the folly of that time — the gold standard — was thrown on the dustbin of history. The euro will hopefully soon join it. Economists have a tendency to get enthralled by their theories and model and forget that behind the figures and abstractions there is a real world with real people. Real people that have to pay dearly for fundamentally flawed doctrines and recommendations." Why the euro cannot be saved, June 2018, Lars Syll, Swedish Professor of Economics
"Despite its crises the European Union keeps on getting stronger – its power comes from the decline of participation in national politics.". The European Union and the End of Politics, 2012, James Heartfield

"No advanced nation has endured such a massive collapse in productive capacity building. The IMF, the European Commission and the ECB have conspired to destroy the prosperity of this nation for many decades to come. There should be criminal charges laid." Greece still should exit and escape the grip of the vandals, Febr 2017, Bill Mitchell
See Harald Schumann's documentaries about the EU on Youtube. Begin with this: 'The Trail of the Troika | A must-see to understand the situation in Greece.'
Germany took over Europe with its Deutschmarks more easily than with its Panzer divisions.
Sean Gervasi, former JFK advisor,

Brexit is a good idea


Plan A and B with MMT

Warren Mosler explains how a nation like Greece, Italy, France etc. can stay in the eurozone and re-create their own strong currency - which will make them able to create economic growth (2017): The EU - Plan A and Plan B with MMT
"Providing a detailed historical analysis of the evolution of the Eurozone and its failings from the 1940s to the present day, the book argues that the Eurozone lacks the necessary monetary architecture, particularly the existence of a federal fiscal function which could have resolved the economic crisis quickly. The author examines the options available to Europe and concludes that an orderly abandonment of the euro and a return to national currencies is the superior option available. The justification for this conclusion is exhaustively argued within a Modern Monetary Theory framework." Eurozone Dystopia