Irish economist David McWiliams, of Punk Economics, explains how EU has evolved from a democracy to a bankocracy.
In this illustrated video, he explains Europe’s (and US )’dirty little secret’ where economic policy is being run almost exclusively for the banks. And the political elite are becoming more and more detached from the people.
I disagree on one point; EU was never a democracy in the first place. It was never designed to be that by the political class/elites.
The Euro was always a political project. That’s why “they” haven’t done the ”proper” economic policies. Because these policies would undermine the political purpose of the Euro. So they, the political elites of EU, are trapped. And that’s why the Euro was domed from the beginning.
“How can broke economies lend money to other broke economies who haven’t got any money because they can’t pay back the money the broke economy lent to the other broke economy and shouldn’t have lent them in the first place because the broke economy cant pay it back”.
Even a 5 year old can understand this. But not “our” politicians and bankers.
See my posts:
See also my posts:
Punk Economics: Lesson 1
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