A Real Solution to Reverse Europe's Economic Collapse

By: Stewart Brennan

World United News

The European Union teeters on the brink of total collapse, because the US stubbornly insists that Europe fall inline with American economic and militaristic foreign policy…

Joe Biden: US Insisting Europe Impose Sanctions on Russia

Europe is Energy Dependent

The Americans are directly responsible for Europe’s energy supply problems as are the Europeans themselves for joining American destabilization plans in Libya, Syria, Ukraine and then Russia via an unsuccessful sanctions war.

The steady supply of oil and gas to Europe was disrupted by the EU’s own stupidity which carries the long term prospects of saddling their energy poor Nations with economic collapse by continuing their obedience to US geopolitical and economic directives…as most people already know, access to cheap energy is directly proportional to the health of an economy, so desperation is continuing to intensify as time ticks on without resolution to their problem.

The European economy is hurting for a number of reasons including gross financial corruption, but the forced sanctions on Russia and the prospect of an unstable gas supply that runs through the Ukraine, is taking a heavy toll and driving economic powerhouses like Germany to irreparable financial ruin. Russia understands this, which is why Russia is doing everything in its power to build oil and gas pipelines to save Europe via new pipeline routes bypassing Ukraine through the Baltic Sea and Black Sea.

The Russian moves have angered the Americans, who do not want Europe to build stronger economic ties with Russia, in fact it would prefer that the EU does not deal economically with Russia at all. Why? Because Russia is an independent nation that is opposed to US economic control over their country, and Russia is a big part of the emerging economic bloc with China, Iran, India, and to a smaller extent South America.

The Loss of National Independence

The Independence of the individual European states was crushed by the birth of the Euro currency and later by legislation through the European Parliament. Not only did the Euro currency seize control of all the nations that bought into it, but it removed their economic independence and put it in the hands of an elitist few private bankers.

The US controls global economics, including the European Union through their Global Reserve Petro Dollar, the IMF, World Bank, rigged Stock Markets, and of course their military.

US economic and military policies have delivered nothing but strife to vast regions of Europe, so, how much longer will the people of Europe allow the European Parliament and its US master to dictate their future?

The results have brought the EU an unprecedented economic depression, war just outside their borders, millions of homeless people and refugees, with a dismal future staring straight at them.

EU Future?

Source Video: South Front

Solutions

Don’t you think it’s time for all this insanity to stop? Here’s a short list of what needs to be done to resolve all the problems affecting Europe:

1. Drop the US Imposed Sanctions on Russia.
2. Join the Russia / China economic Eurasian Deal.
3. Tell the US Military to close their bases in your countries and go back to the USA.
4. Return to National Currencies with a public central bank in each country so that you will have your own independence.
5. Leave the EURO, IMF and World Bank behind.
6. End your NATO affiliation and create a European military cooperative that does not include nations outside of Europe.
7. Stop supporting Saudi Arabia, Turkey and Israel unconditionally.

If the European countries do not begin to change course, all of Europe will cease to exist economically, politically, culturally, and socially in the future…and if Europe continues to support the belligerent proxies of US hegemony, all of Europe will be dragged into a third World War. Europe will not survive any of these real threats, therefore the people need to take action now. The choice at the moment, is yours, and I’m speaking directly to the citizens of all the European nations…if your political leaders remain deaf dumb and blind, then it will be up to you to rise up and make change…if you don't rise up and speak out now, your leaders will continue down the road to total collapse…

2014 Istanbul Summit: Joe Biden on Energy Security in Europe

Video Source: Euronews Business

Energy Dictatorship

The US Government, represented by Joe Biden, has chosen whom Europe will get its oil and gas from instead of letting Europeans choose for themselves…they chose Turkey to be a vehicle of that energy. However, in 2015, after accepting Syria’s invitation to help the Syrian people against a four year invasion by foreign terrorists attacking their country, Vladimir Putin exposed Turkey and its role in illegal oil smuggling with the ISIS terrorists…

Since these terrorist oil pipelines running through Turkey have been disrupted, I wouldn’t be surprised if the next thing the American’s do, will be to “Insist” that the Europeans continue their war on Libya, who of course, have lots of Oil and Gas…

Libya’s Instability Threatens Regional Security

Video Source: South Front

If the people of Germany and or France take the initiative for real change, then the rest of Europe will follow…the choice is up to you. Don't you want a future?

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INFORMATION

UKRAINE

Ukraine Crisis - What You're Not Being Told

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Are you on the ‘SS Euro’? Abandon Ship!

1 euro coin made in Greece and a pile of eurocents displayed on the European flag. (AFP Photo / Philippe Huguen)

Source: Russia Today
http://www.rt.com/news/euro-greece-union-euro-062/

The Euro is creaking and making funny noises. Lloyds of London – who have a pretty good ear to perceive impending disasters – says the insurance market is preparing for the Euro's collapse and is trying to reduce its exposure as much as possible.

Robert Ward chief executive of the multi-billion dollar and almost five hundred year old institution said Lloyd's may have to write-down on its £58.9 billion investment portfolio if the euro collapses. In the interview for The Sunday Telegraph he explained the market has put in place a contingency plan to switch euro underwriting to multi-currency claims settlements

It seems Lloyds believes ‘grexit’ is looking more and more likely day by day. Insurers are a good reference point on this, since risk management lies at the very heart of insurance and reinsurance. London as well as Germany are two of the key global long-term risk management markets, counting on extensive expertise and experience in such potentially catastrophic financial upheavals.

Another major insurer providing credit insurance for Eurozone trade – the Franco-German Euler Hermes Group – has also stated is would be reducing coverage for trade with Greece. Clearly, a tell-tale sign that a country is about to go bust is when credit insurance providers decide to stop trading with it.

Also going into Orange Alert Mode are the German mega-bankers. Last weekend Juergen Fitschen, co-chief executive of Deutsche Bank, described Greece as a "failed state" run by corrupt politicians adding that even though he did not think that if Greece exits the euro that would immediately lead to the collapse of the eurozone, he was nevertheless jittery about the whole matter adding that “what we need to do is prepare for that eventuality."

Correct, Juergen! If Greece goes, then the temptation for Portugal, Ireland, Spain, Italy and others to follow suit would indeed be great. And maybe we should not just be focusing on the weak end of the Eurozone – Greece, Portugal, Spain, Italy – but should also turn an eye on its strong end: because even you Germans might – for very different reasons – end up realizing that you too would be far better off dumping the euro and going back to the proverbially strong Deutsch Mark.

Then, Germany would have no need to bail-out and rough up “Today Greece, tomorrow Europe!”. As German interior minister Hans-Peter Friedrich just told the Leipziger Volkszeitung newspaper, Germany was prepared to help rescue Greece but only if it helps itself and honours its agreements, adding that “We're not willing to pour money into a bottomless pit".

Come on, Germany! Look at history and start understanding that you’d be far better off looking eastwards, reaching intelligent agreements with raw-materials-rich Russian, than with just dragging as dead-weight “Old Europe” and its increasingly decadent and misgoverned American controllers.

Even quiet, conservative and bourgeois Switzerland had its Central Bank Governor Thomas Jordan also admitting that they too were drawing up contingency action plans in the event of the euro's collapse…

On May 25th, writing in the London Telegraph, conservative political columnist Bruce Anderson observed that European Union ideologues – “those wise men” as he calls them – made a double mistake: they both “underestimated and overestimated their fellow humans”, because although globalization and global competition was nice …for a while… “en-masse, human beings need the nation-state, just as individual humans need dwellings.”

Comparing the EU to life in a great city, Anderson explains that “there are moments when most people want to close their front door and relax at home. It helps to cope with all that pressure if you can live in a nation state, where you speak the language, understand the politics, respect the legal system,” I would add, “where you can issue and control your own currency…”

It seems that those “wise men” of old and their modern Eurocrat counterparts in Brussels, Strasbourg and Frankfurt have been trying to run Europe having “a French jockey on a German horse”: two delusions that eventually led to the single-currency.

It’s important to listen to what the British have to say about today’s euro-crisis because a decade ago, they very intelligently accepted the European Union but rejected the single currency. And they were right!!

As Anderson aptly points out, “you cannot use the same interest rate in Dublin and Düsseldorf unless there are fiscal transfers. Monetary union must mean fiscal union. On the basis of no taxation without representation, this must lead on to political union. Instead, the eurozone leaders told the architect to build the roof first…. ”

The result is today’s unsustainable continent-wide crisis: rising unemployment, top-heavy pension systems, extreme hardship for the young and the poor, which is leading to increasing social disorder, constant emigration from Greece, Spain and Italy that presses into northern Europe…

Europe today stands at a cross-roads: in the coming weeks and months it may be living its “To be or not to be” moment. It has been the European Union bureaucrats allied to the global banking mafia that led Europe to its present woes, so, Europe: don’t look to them for “transnational” crisis leadership and “global solutions”. They won’t deliver!!

Rather, seek common sense solutions at home, review recent / not so recent history; use your imagination more and your imaginary fears less.

Perhaps, the ultimate litmus test on this runs something like this:

The more angry and furious Greece, Portugal, Spain, Ireland, Italy make the global private mega-bankers – and the IMF, ECB, Fed, and global rating agencies – the more certain you can be that you’re on the right track.

Woe to Greece, woe to Spain, Italy and others if the day dawns when these mega-bankers applaud you saying they’re “satisfied that you are doing the right thing”. That will undoubtedly mean you’ve put the noose around your own necks. For the love of God, don’t do that!

Adrian Salbuchi for RT

Adrian Salbuchi is a political analyst, author, speaker and radio/TV commentator in Argentina. - http://www.asalbuchi.com.ar/

Disclaimer: The views and opinions expressed in the story are solely those of the author and do not necessarily represent those of RT.

Greek austerity: Path to recovery, or path to violence?

Source: Russia Today
http://rt.com/news/greece-austerity-recovery-violence-970/

Greece is struggling to form a new government, as political parties are divided on austerity measures. RT spoke to economic analyst Michael Mross, who explains what it means for Greece and Europe as a whole.

RT:What would be the implications if Greece was to turn its back on austerity measures and reject the bailout plans?

Michael Mross: The days of the euro would be counted if this were to happen. And this is what many people here in Germany predicted at the beginning, when the euro was established. What we see is a programmed crisis. It’s very sad to see these things developing, but it was more or the less planned within the eurozone. Such different countries as Greece and Germany do not fit into one currency, so at the end of the day, Greece is not able to fulfill the austerity plans that are promised. No country is able to realize austerity measures. This means that people go to the streets; this means that there is more violence, more political insecurity and that the country also becomes impossible to govern.

RT:But how can a country boost its economic growth when it is in such a mess?

MM: This is a total economical contradiction. If you have to economize, to cut down, how can you spend money then? How can you create labor, for example? You have to spend more money, you have to make more debts in order to get some growth in your country. But under the euro system, this is never possible. We will also see a domino effect spread into Spain, into Portugal, also into Italy. And this will be the final nail in the euro's coffin.

RT: Will that be the end of the euro?

MM: Yes. The euro could never work. Everybody who looks at it from an economic perspective knows that the eurozone just was not right. We also have many difficulties with France. All these debt-stricken countries need devaluation in order to become competitive.

RT:Is there a danger that austerity advocate Angela Merkel could become isolated, when there’s an anti-austerity sentiment not only in Greece, but also in France with its new president?

MM: Angela Merkel doesn’t want to make the situation in Europe more unstable. At the end of the day the whole problem that we have in the eurozone cannot be solved by rescue packages or by more debts. It can only be solved by a breakup of the euro. That means that Germany pulls out and the rest of the countries within the eurozone will devaluate their money to become competitive again

Greek bailout uncertainty sends Asia markets, euro into tailspin

Asian markets and the euro fell on May 9 on fears Greece could leave the eurozone.

Source: Press TV
http://www.presstv.ir/detail/240292.html

Asian markets and the euro have taken a tumble over a plan in Greece to form an anti-austerity government, which raises the risk of the country’s departure from the eurozone.

The Wednesday’s fall comes after European people voted against pro-austerity leaders in elections in countries including Greece, France, Germany and Italy.

Following the uncertainty in Europe, Tokyo shares fell 1.19 percent. Hong Kong dropped 0.73 percent, Shanghai shed 0.87 percent and Seoul fell 0.64 percent.

The leader of Greece's left-wing Syriza party, Alexis Tsipras, said Tuesday that his cabinet would rule out all budget-cutting austerity measures, which were imposed under an EU-IMF bailout deal.

"The public verdict has clearly nullified the loan agreement and (pledges) sent to Europe and the (International Monetary Fund)," he said, while considering the bailout terms as "barbaric.”

His remarks raised the prospects that Athens would be denied any fresh cash for paying its debts, which could lead the country to default.

Tsipras received a mandate to form a new government after the country’s two ruling parties advocating austerity measures suffered major losses in Sunday elections.

"The failure of the Greek election to produce a new government provides some support to our view that Greece could leave the eurozone as soon as the end of this year," London-based Capital Economics’ note read.

The concerns also affected the euro, which fell 0.3 percent to $1.2971.

"The situation in Greece remains worrisome, especially with respect to the euro," Toshiyuki Kanayama, market analyst at Monex brokerage, said.

The turmoil in the euro region has urged EU Commission to call on the bloc members to stick to their budget cuts, while promising to draw up plans to introduce more growth measures to alleviate economic hardship.

Spain's unemployment rate hits record high at 24.44 percent

Unemployed people in Spain. (file photo)

Source: Press TV
http://www.presstv.ir/detail/238327.html

Newly released figures show Spain’s unemployment rate hit a new record high at the end of March, reaching 24.44 percent.

With the highest rate since 1996, the data released by Spain's National Statistics Institute indicate that some 5.6 million people are now jobless, AFP reported.

This comes hours after the New York-based Standard & Poor’s ratings agency downgraded Madrid’s long-term sovereign credit rating from A to BBB+, giving it a negative outlook.

Earlier this month, Spain’s Labor Ministry had announced a rise in the country’s jobless rate for March, saying an estimated 4.75 million people were unemployed.

In the first quarter of the year, some 37,000 jobs were lost in Spain.

The eurozone’s fourth largest economy has announced spending cuts of more than 11-billion dollars as well as tax increases to reduce the country's deficit to avoid seeking a financial bailout like Greece, Ireland, and Portugal.

Battered by the global financial downturn, the Spanish economy collapsed into recession in the second half of 2008, destroying millions of jobs.

A number of analysts have on several occasions said that Spain's economy is expected to be hit by a new recession in the first two quarters of 2012.

Greek parliament endorses multi billion bailout scheme

Greek parliament (file photo)

Source: Press TV
http://www.presstv.ir/detail/232651.html

The Greek parliament has officially approved a second multi-billion dollar bailout scheme worth up to 130 billion euros (USD 170 billion) in a bid to spare the country a debt default over its financial crisis.

The bailout package, endorsed early Wednesday, is provided jointly by the International Monetary Fund (IMF) and the eurozone.

The proposed text gained the approval of 213 socialist and conservative parliament members, while only 79 members from the communist left and far-right opposed it.

According to a finance ministry official, the endorsement came after Greece received a first payout of 7.5 billion euros on Tuesday under its second international bailout.

The payment of EU and IMF loans, on which the Greek economy depends to stay on its feet, will be continued, provided that Athens meets agreed targets to cut the country’s spending and restructure its economy.

This is the second such bailout in two years. The EU and IMF had agreed on a first bailout package worth 110 billion euros in 2010.

Greek Prime Minister Lucas Papademos’s interim government came into existence late last year after Socialist Prime Minister George Papandreou resigned in the midst of the country’s financial crisis.

The government’s main task is to ensure that the country avoids a default before organizing election polls by mid-May for the country’s elections, the date of which is anticipated to be announced next week.

Iran 'restricting euro transactions'

Source: PressTV
http://www.presstv.ir/detail.aspx?id=128744&sectionid=351020102


As the stagnant European economy weighs heavily on the euro forcing it into a downward spiral, the Central Bank of Iran (CBI) unveils a major plan for converting 45 billion of its euro reserves into dollar and gold ingots.

The CBI's new monetary policy comes against a backdrop of a new phase of economic recession in European states of Greece and Spain which has caused a drop in the value of euro against the dollar in international markets.

There are growing fears that the economic crisis would likely hit other eurozone countries as well.

Meanwhile, informed sources in Iran told Iranian daily Jaam-e-Jam that the monetary plan was to be carried out in three phases, adding that the first stage of the program had already begun.

The new decision comes as the financial crisis that began in the US about two years ago resulted in the sharp devaluation of the dollar, pushing the Iranian government to order the replacement of the greenback with the euro in the country's foreign exchange accounts.

Other countries such as the Persian Gulf littoral states are also reported to be taking major steps for the conversion of their euro reserves into dollar and gold ingots.

Spain to go on with spending cuts

Source: PressTV
http://www.presstv.ir/detail.aspx?id=127529§ionid=351020606



Spanish Prime Minister Jose Luis Rodriguez Zapatero has promised to press ahead with spending cuts despite threats of a general strike by the country's labor unions.

"I know there are protests by those who do not share them (government views), like the unions, but we will not change," Zapatero told a meeting of 2,000 socialist mayors in the southeastern Spanish city of Elche on Sunday.

The Spanish cabinet approved a two-year, 15 billion euro austerity plan earlier on Thursday.

The prime minister said his economic plans were necessary to slash the public deficit. Spain's budget deficit stood at 11.2 percent of the gross domestic product last year.

The plan includes a freeze on state pensions and a cut in civil servants' salaries.

It comes on top of a 50 billion euro austerity package announced in January.

Unions representing public sector workers say they will strike on June 8th in protest.

Greece blames US for snowballing debts

Source: PressTV
http://www.presstv.ir/detail.aspx?id=126709§ionid=351020605


Greek Prime Minister George Papandreou says he is considering taking legal action against US investment banks for their alleged role in the snowballing Greek debt crisis.

Papandreou said Sunday that an investigation will be launched to examine whether the financial sector engaged in "fraud", leading to the spiraling of Greece's debt, the Associated Press reported.

It is predicted that Greece will exceed 140 percent of its economic output in 2012.

Papandreou rejected international skepticism about Greece's ability to pay back loans it acquired from Germany to manage the crisis.

Some officials in Germany have expressed dissatisfaction that Greeks are taking the easy way out.

The under-pressure prime minister, however, remains steadfast in defusing the crisis.

"We are ready to make the changes ... we have made our mistakes. We are living up to this responsibility. But at the same time, give us a chance," Papandreou said.

Analysts, meanwhile, say it was clear what Papandreou should do to reclaim his credentials.

"If you want to stop speculators it's quite easy, you actually get your economy sorted out and your debt paid down," Justin Urquhart Stewart, director of Seven Investment Management in London, told Press TV.

By taking legal action against American investment banks the Greek government will hope it will lead "to further tightening in the rules and regulations of US banks," Stewart said.