[lit-ideas] Europe Moves Closer to Banktatorship
- From: Omar Kusturica <omarkusto@xxxxxxxxx>
- To: "polidea@xxxxxxxxxx" <polidea@xxxxxxxxxx>
- Date: Fri, 1 Jun 2012 12:04:51 -0700 (PDT)
The present crisis, which is largely the result of excessive credit expansion
and poor risk management by EU banks, is being used by the European Commission
and the ECB to establish a euro-wide ”banking union” and to impose savage cuts
to social programs, health care, and pensions. The response by EU policymakers
is a social counterrevolution designed to transform the 17-member monetary
union into a permanent ”austerity zone” ruled by corporate elites and big
finance.
http://www.counterpunch.org/2012/06/01/europe-moves-closer-to-banktatorship/ ;
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