Tthe dissolution of the EMU is not the end of EU – quite the contrary. If that recognition is understood, some necessary changes of the currency system might bring a kind of euro-realism into the collaboration of the EU.
According to ECB the future of the euro countries is entrusted to "structural reforms", a very misleading formula to indicate the reverse of the social rights in a framework of impoverished and powerless working class
Generalized efforts by all governments to balance their budgets simultaneously might actually result in a perverse combination of budgetary (and trade) imbalances as well as a lower level of employment and income worldwide
The letter sent by Jean-Claude Trichet and Mario Daghi to Italian government clarifies the economic and social guidelines of the ECB: a true neoliberal approach that hardly can avert the eurozone's crisis.
While he tries to coax the economy into producing more jobs with one hand, Obama has set in motion an inexorable process that will lead to more economic contraction.
In the EU the prevailing political line is not for improving the economy and enhancing employment, but a policy of '"austerity", which means deflation and stagnation.
A European Public Finance Authority that would be governed by member countries should issue bonds that the ECB can buy and sell through standard open-market operations.
