Rethinking Europe
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Rethinking Europe
A collection of most innovative ideas on how to re-engineer the European Union
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Rescooped by Willy De Backer from The Great Transition
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Europe proposes banking union to ease debt crisis

As Europe's debt crisis intensifies, top officials say the continent urgently needs a central authority with the financial muscle to fix its broken banks.

 

The flight forward for EU leaders: a "banking union". Finally full recognition that THIS European "Union" has always been a Europe for capital, never for labour and citizens. As long as things went well, we got the crumbs from the tables of the rich, now they send us back to the poor houses and debtors' prisons.

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Europe’s Transition From Social Democracy to Oligarchy

Europe’s Transition From Social Democracy to Oligarchy | Rethinking Europe | Scoop.it

Another impressive analysis of the real motives behind the eurocrisis from economist Michael Hudson. First published in Germany's Frankfurter Allgemeine Zeitung.

 

"So something has to give. Will it be the past few centuries of liberal free-market economic philosophy, relinquishing planning the economic surplus to bankers? Or will society re-assert classical economic philosophy and Progressive Era principles, and re-assert social shaping of financial markets to promote long-term growth with minimum costs of living and doing business?

At least in the most badly indebted countries, European voters are waking up to an oligarchic coup in which taxation and government budgetary planning and control is passing into the hands of executives nominated by the international bankers’ cartel. This result is the opposite of what the past few centuries of free market economics has been all about."

 

More extracts of and comments on this brilliant piece later on my blog http://3eintelligence.wordpress.com

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