Friday, July 22, 2011

'Germany feeding off debt-ridden zones'


Source: Press TV
http://www.presstv.ir/detail/190251.html

Germany's export market is parasitically benefiting from fragile, debt-stricken economies and would therefore prefer to sustain the status quo, an analyst says.

“Germany benefits from having these weaker economies stay weak because it keeps the Euro relatively cheap and helps their export market,” said Paris-based financial journalist and broadcaster Max Keiser in an interview with Press TV.

He likened EU efforts to prevent the collapse of the European Monetary Union (EMU) in an emergency meeting in Brussels to continuing to “kick the can down the road.”

“None of these policies are addressing the actual problem here, which is that the growth can't possibly be robust enough to pay down these debts.”

“They [EU leaders] will continue to impose austerity measures on the peripheral countries and this is just going to perpetuate the current environment of unsustainable debts, failed policies and a bankrupt central government in the ECB (European Central Bank),” he added.

Keiser dubbed the current economic crisis as a “charade” tracing its roots to US banks in particular, which are merely in pursuit of gold.

“That's what this whole charade is about. Stage a fake financial crisis and give us your gold. In my opinion that's really the dimension of what we're talking about.”

Keiser advised financially stricken countries to follow Iceland's suit in divorcing themselves from these “corrupt banking institutions.”

“Obviously these countries like Greece and others would do much better if they had their own currency and were in control of their own destiny.”

The eurozone plunged into a financial crisis in early 2010, as the specter of insolvency threatened heavily debt-ridden countries such as Greece, Portugal, Italy, Ireland and Spain.

European leaders held an emergency meeting in Brussels to agree on further aid for Greece amid fears that the debt crisis could spread to other eurozone countries.

The EU debt crisis continues to undermine confidence in global markets, and has gone as far as to jeopardize the existence of the euro itself.

No comments:

Post a Comment

Thanks for commenting on this post. Please consider sharing it on Facebook or Twitter for a wider discussion.

Russian / Ukraine War - (Mar 08th, 2024)

How the Ukraine War Changed the World - (Mar 01st, 2024)

Redacted - Egypt's betrayal of Palestine - Vanessa Beeley

CrossTalk | Magical thinking - (Feb 28th, 2024)

Hillary Clinton Interrupted & Called Out in Berlin

We don’t want war with Israel, but if they impose it on us, we are ready – Hezbollah

ICJ delivers ruling in favour of South Africa

ICJ ruling | Court stops short of ordering Gaza ceasefire, demands that Israel prevent genocide

South Africa's Closing Argument Against Israel for Genocide at the ICJ

Wider Middle East war. US, UK strike Yemen

U.S., UK Start Another Unwinnable War In Yemen

Geopolitical Storm Brewing from Palestine to Ukraine

How the US Global Order is Challenged - With Pepe Escobar (Nov 20, 2023)

Shahid Bolsen - Message to the Israeli people

Roger Waters - To Whom It May Concern: Please Stop.

US policy slowing down China's economy w/ Jeffrey Sachs

Max Blumenthal s destroys RFKJr's outrageous Israelí Propaganda

Totalitarianism, Censorship and Syria with Peter Lavelle, Vanessa Beeley & Kevork Almassian

Putin shows treaty on Ukraine’s neutrality, signed by Kiev but dumped under Western pressure

Assad's speech at the Arab League Summit - what it means for the future of the region

Assad returns to Arab League

HUGE China brokered deal, Iran & Saudi Arabia restore diplomatic ties

Nord Stream pipeline & sabotaging peace w/Jeffrey Sachs

The Tragedy of Ukraine

Historical Events that Led to the Start of the Ukraine Conflict

Your Wars Will Destroy the Planet - Roger Waters

Healthy Athletes suffer Heart Problems After Getting the Jab