Why the Euro Is Heading for an Earthshaking Crisis

Because the article has so many good points, a majority of it will be left up, as has been done here in rare cases.

Courtesy of The Trumpet:

 

And why the euro is incompatible with democracy

European leaders are in a panic. Greece’s banks are closed. Experts warn the global economy is under threat. And it all hinges on Greece’s place in the eurozone.

Fears of rioting and mass panic, dormant since the Greek fires of 2008, are rising again.

It shows just how fragile the eurozone is. In April 2014, the Greek government was able to borrow money on the normal financial markets at the relatively high, but not appalling, rate of 4.95 percent. As far as lenders were concerned, the euro crisis was over. Greece was no longer dangling over the edge of a precipice. Instead, it could borrow money just like any other normal nation.

EU has squandered last chance to make euro workable, warns Ex-Bundesbank chief

Further integration is always the answer Germany gives as it continues to takeover Europe piece by piece. It portrays continual integration as key to survival, but then chips away at the national sovereignty of other nations in exchange for being part of this ‘elite club’. If they choose not to continue membership, then it will lead to full-blown civil unrest as receiving no aide will cause economies to go into full depression. This doesn’t bode good for member states such as Greece where the political leadership wants to hold on to its power, yet ironically gives it up at the expense of citizens.

It’s quite clear by now that the ‘European Project’ was never going to work, but that was the intention from conception. In the end, guess who’s back? Germany. All roads lead back to Berlin and the Fourth Reich is here with a smarter approach.

 

The former head of the German Bundesbank has warned that the European Central Bank (ECB) will not succeed in raising inflation for years to come and is almost powerless to revive the fortunes of the eurozone on its own.

Axel Weber, now chairman of UBS and widely-regarded as Europe’s most influential private banker, said Europe’s leaders had squandered the chance to rebuild the eurozone’s foundations when the going was good and markets were calm.

In an ominous sign, he appeared to lose confidence in the euro altogether, cautioning that monetary union will be tested repeatedly and may not survive unless EMU leaders agree to bite the bullet on full fiscal and political union.