Commentary on Political Economy

Friday 28 October 2011

The Betrayal of Europe - Comment on the Lex Column

The clownish saga of so-called European leaders incapable of putting an end to the obscene abuse and bare-faced THEFT of the wealth and resources of the vast majority of Europeans by "the markets" keen and skilled at "speculating" against "sovereign debts" from Greece to Italy - and all this for the simple reason that they do not wish to draw a line under the LOSSES that they know all too well will have to be suffered by Finanzkapital (German and French banks) as a result of the current "crisis"....All this disgusting, execrable vortex of unspeakable greed ans stupidity is enough to make a hippopotamus choke with anger.

Young Europeans can no longer tolerate this absurd chicanery, this unseemly prostration of these so-called "leaders", these "straw-men", these hollow men that parade themselves daily before news cameras and that daily betray our aspirations and now.... and now finally our values and ideals.

By refusing to take the decisive action of acknowledging that Europe is one and indivisible, that the future of European people from Istanbul to Lisbon, from Tunisia to Iceland, lies in taking whatever action is necessary - first and foremost and most blindingly obvious right now, the transformation of the ECB into the lender of last resort for the Eurozone - by refusing steadfastly to take these actions so as to save their filthy miserable execrable bank accounts, THESE VILE TRAITORS !!! - these vile traitors have resorted even to prostrating proud Europe to begging from the Chinese dictatorship - NOT because there is any necessity whatsoever - financial or economic or other wise - BUT SIMPLY TO PROTECT THEIR FINANCIAL ASSETS !!!

These inveterate bastards and snakes, these filthy vermin would prostrate every European value first, and then through the "austerity" measures that devalue and lower our living standards until they resemble what the abominable Chinese dictatorship - filthiest and most ignoble gang of lousy snakes - what the Chinese dictatorship imposes ON ITS OWN PEOPLE who each passing day now threaten to rise up in the throes of despair to vanquish and annihilate and disintegrate forever this CRIME AGAINST HUMANITY that must be wiped off the face of the earth and banished from our human universe!!
Of course, the hilarious irony of all this is that (a) the Chinese dictatorship will never invest in Europe unless it can be guaranteed political support against its own internal political and economic problems (including value of yuan) that are escalating BY THE HOUR; and (b) the European capitalist bastards themselves do not want Chinese help because they have a trade surplus with China and any Chinese aid would force them to allow more Chinese-dictatorship subsidised exports to Europe!!

Appendix: Just read and decipher what the wonderful James Mackintosh at the FT has to say on the matter:

Indeed, some of the measures being taken make it hard to decide whether to laugh or to cry. After two years of vilifying credit default swaps, the derivatives have been adopted as one of the ways to “leverage” the European financial stability facility, the eurozone bail-out fund.
In addition to that, after governments (correctly) put part of the blame for the original 2007 crisis on structured finance, the EFSF is to set up a special purpose vehicle with two tranches to attract money from China and other sovereign wealth funds. Some of the richest countries in the world are using the model that got them into trouble in the first place to persuade some of the poorest countries [ and most abominable dictatorships!!!] in the world to help them recover.

Here is the article:
Paul Krugman's View:
And Daniel Gros's:
The FAZ on possible "political conditions" the Chinese dictatorship may impose:


  1. The future is uncertain. The lack of unity will not have helped the eurozone. It is not clear how a separate bloc of 17 states - or will it be 26 - can progress.

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