Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Europe's establishment is luxuriating in two recent announcements that would have been momentous even if they were only partly accurate: The end of Greece's debt crisis, and a Franco-German accord to redesign the eurozone.While three French presidents and the same German chancellor were failing to agree on the institutional changes that would render the eurozone sustainable, Greece was asked to bleed quietly.A few days later, the Eurogroup of eurozone finance ministers delivered its own "solution" to the Greek debt crisis.The Greek state has thus been offered easy repayments until 2033 in exchange for continuing harsh austerity ad infinitum (a primary budget surplus target of 3.5 percent of national income until 2022, and 2.2 percent during 2023-2060); impossible annual debt repayments from 2033 to 2060 (around 60 percent of the state's tax revenues); and a debt-to-national income ratio above 230 percent by 2060 if the next global recession puts the plan's over-ambitious growth targets out of reach, as it surely will.Yet Europe's establishment, oblivious to the Nationalist International preparing to devour the EU, is serving it appetizers.
Running down the clock on Brexit
What exactly has Google ever done for us?
Three tribes of austerity and the global doom loop of inequality
FOLLOW THIS ARTICLE