Prof. Richard Werner, who was on the scene as the European Union evolved, maintains that the intent for the EU from the start was the abandonment of national sovereignty in favor of a single-currency system controlled by eurocrats doing the bidding of international financiers. The model was flawed from the beginning. The solution, he says, is for EU countries to regain their national sovereignty by leaving the euro en masse. But he acknowledges that this is not likely to happen soon. Brussels has been instructed by President Obama, no doubt instructed by Wall Street, to hold the euro together at all costs.The longer they hold off taking the currency union apart the bigger the implosion is going to be. As the stakes and risks rise, it will become less and less a possibility to do voluntarily.
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3 comments:
Good piece by Richard Werner.
It should be read together wirh the Lapavitsas interview - they both provide a refreshing contrast to the deluded analyses that have been provided by the europhile "left".
But he acknowledges that this is not likely to happen soon. Brussels has been instructed by President Obama, no doubt instructed by Wall Street, to hold the euro together at all costs.
Just as I have been saying all along.
Washington calls the shots and people are naive to think that Brussels or even Germany have the final say.
This is the same prof werner who thinks that the Fed is a private banking cartel and not a Govt agency. Hard to take anyone too seriously who believes in crazy conspiracy theories like this.
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