Euro

  Ted Malloch the prospective US Ambassador to the EU has nothing else to do now than appearing to one TV station after another in Greece, suggesting to...

* Τhis article was published by the Cyprus News Agency and it was translated into English by Wayne Hall US President Donald J. Trump February 6,...

Ted Malloch, U.S. President Donald Trump’s pick to be his Ambassador to the European Union went on the record during a Bloomberg interview, suggesting...

By Dimitris Konstantakopoulo “Where the peril grows, grows also what will save us” Friedrich Hölderlin “The Greek race was always, and it is still, the race which has the dangerous...

US President Donald Trump’s likely pick for ambassador to the European Union has said that the single currency “could collapse” in the next year...

par Jacques Sapir 4 Novambre 2016 L’Union européenne traverse aujourd’hui crise majeure. Il s’agit d’une crise économique mais aussi d’une crise d’identité. A l’origine de cette crise...

More than four years on, we know that in 2012 the political fallout was only just beginning. It was in December 2011 that David Cameron reopened the European question by opting out of the new ‘fiscal compact’ drawn up by Angela Merkel and Nicolas Sarkozy with the aim of enforcing budget discipline across the EU. In the US in spring 2012, Mitt Romney emerged as the candidate from the Republican primaries, but the freakshow anticipated the Trump campaign to come. In Italy the ousting of Berlusconi in a backroom coup in November 2011 and the installation of the ‘unpolitical’ economist Mario Monti as prime minister set the stage for the emergence of Beppe Grillo and Five Star in the local elections of May 2012. In France as the fiscal compact began to bite, François Hollande’s presidency was dead almost before it had started.

Cette étude démontre que la crise grecque qui a éclaté en 2010 est d’origine bancaire privée. Elle n’est pas le résultat d’un excès de dépenses publiques. Le soi-disant plan d’aide à la Grèce a été conçu pour servir les intérêts des banquiers privés et ceux des pays qui dominent la zone euro. L’adoption de l’euro par la Grèce a joué un rôle important dans les facteurs qui ont contribué à la crise. L’analyse contenue dans ce texte a été présentée à Athènes le 6 novembre 2016 lors de la réunion de la Commission pour la vérité sur la dette publique grecque.

European leaders have devoted scant attention to the future of the eurozone since July 2012, when Mario Draghi, the European Central Bank’s president, famously committed to do “whatever it takes” to save the common currency. For more than four years, they have essentially subcontracted the eurozone’s stability and integrity to the central bankers. But, while the ECB has performed the job skillfully, this quiet, convenient arrangement is coming to an end, because no central bank can solve political or constitutional conundrums.

The reform, which intended to eliminate the model known as ‘perfect bicameralism’ and reduce the amount of members of the Senate, among other things, didn’t reach the majority of votes, and therefore Renzi, at midnight in Italy, announced on TV that he will officially submit his resignation to the President of the Republic. ‘The Italian people have spoken unequivocally (…) I lost and I will leave my seat. My experience in government has come to an end’, the Prime Minister said in press round filled with journalists. Renzi expressed the need to make reforms in Italy, and called to keep on fighting.