It has become a disconcerting trend that as geopolitical events intensify and keep a majority of people engaged in the latest outbreak of political theatre, the words of central bankers fall on increasingly deaf ears.
For the first time in more than two decades, Brazil has a right-wing politician as the head of state. But Bolsonaro’s victory signifies more than just a devastating defeat of the Worker’s Party (PT) — the victorious party in the last four presidential elections. It represents the arrival to power of the Brazilian “new right” (labeled by some as “far-right”), which they themselves describe as: “liberal” on the economy and socially conservative.
With his anti-establishment and anti-corruption rhetoric, the ex-military candidate Bolsonaro captured the dissatisfaction of the voters with the PT, the party of the ex-president Lula da Silva, who is imprisoned for corruption and money laundering. After 14 years in power, the Worker’s Party (PT) left behind a country morally, socially, and economically in crisis. Years of PT rule led to the biggest corruption scheme in the history of Latin America (known as Petrolão); an endemic economic crisis which drastically slowed the country’s development and left an unemployment rate of 13%; and one of the nation’s worst values crises in decades. Continue reading
This is precisely why it’s oft said here that all roads in Europe lead to Berlin.
Germany is back with a Fourth Reich and has subjugated the entire European continent. If you’re looking for Nazis in Panzers, you’re roughly 70 years too late, as economic and political means were used. The leaders in Europe will continually push for integration and more integration until the United States of Europe dream is realized, even by economic and political force if necessary. Some nations will eventually leave while some, such as Greece, will stick around because they believe in the fantasy. There will be roughly ten in the end.
She’s the most dominant leader in the euro zone with virtual veto power over decisions
“The lesson of this crisis is more Europe, not less Europe,” Angela Merkel said in 2012 as the integrity of the region’s monetary union was threatened by financial instability, touched off by Greek debt, that was spreading through the euro zone’s weaker economies. By “more Europe,” the German chancellor meant a deepening of the continent’s noble mission—peaceful integration to ensure prosperity and democracy—of which the common currency, the euro, is the ultimate symbol.
In the intervening three years, Greeks have come to understand “more Europe” as something different: “more Germany.” That was one of the few clear messages sent in a referendum on July 5 that had everything to do with Greek voters’ views on how Merkel had imposed her vision of Europe on the zone and if their troubled nation would be better served as part of its grand project, or not.