- Max Keiser on Tonight With Vincent Browne
- Athens Anger: 'Greek police rhetoric reminds of military dictatorship'
- Economists estimate a '30% to 40% chance of a break-up of the euro in 2012'
- European Stability Mechanism Treaty - The establishment of an unaccountable bankocracy
- Europe braced for MEPs' expenses storm
- ECB's Stark-Debt woes may be next chapter in crisis
- Germany rules out further Greek debt write-off
- ECB: Crisis nations have lost their sovereignty
- 6,000 Greek police to guard Angela Merkel during her six-hour visit to Athens
- Troika officials praise Greece for progress with cuts
- ECB 'willing to buy bonds of weaker EU nations' says Draghi
- IMF wants to block aid to Greece saying that "Athens will be in default as early as September"
- Europe-wide effects of Fiscal Treaty policies - International Impoverishment, Made in Germany
- TFC & Salbuchi: The Shylock Model & Destruction of Sovereignty
- S&P downgrades Greece's sovereign credit rating to selective default
Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer
Comments
Re: Dogma is that Europe needs to stay together
Too bad Prof. Max Otte does not advocate dumping the euro altogether. But of course he needs to hold on to his academic post. In Europe, suggesting that the euro currency be dumped is like questioning the holo-hoax.
Incidentally this German says, “In 1998 at a lecture at Boston University, I predicted that the euro would create artificial booms in some areas and artificial busts in others, because we don’t have an optimum currency area. Also the euro created a competitive problems for the south, because wages went up, but they couldn’t devalue any more. And that’s the root cause of the problem.”
There is no need for such techno-babble. The simple truth is that European nations doomed themselves when they surrendered their monetary sovereignty.
Also, notice how he talks out of both sides of his mouth, as do most economists. He says the euro is the cause of the problem, but he also says that dumping it would be “very painful.” He favors keeping the euro (even though he admits that it is causing the problems). Economists spout such bullshit in order to mollify the bankers and the masses at the same time. Economists are academic politicians.
He says Europe must keep the euro because dumping it would be "painful." Obviously this German is comfortable and well-fed. From his perspective, Spaniards eating out of garbage cans is not "painful." Elderly Greeks comitting suicide is not "painful." Mass hopelessness and unemployment is not "painful." Imminent famine is not "painful." Huge riots and police brutality are not "painful."
What a toad.