You are herecontent / Euro Crisis: Only Root-And-Branch Financial Reform Can Tame The Wolf Pack

Euro Crisis: Only Root-And-Branch Financial Reform Can Tame The Wolf Pack



Euro crisis: only root-and-branch financial reform can tame the wolf pack
By Dan Roberts | Guardian.co.UK

Excerpt:

European optimists hope the way to save the eurozone will be to complete the project by agreeing much closer fiscal and political union between the single currency members. In future, the hope is Germany would no more allow Greece to get into this mess than it would Bavaria.

Yet recognising how interconnected our economies have become does not in itself lessen the risks. In many respects, the credit crunch which began in 2007 has just jumped another firebreak: what began as a private sector banking problem has mutated into a sovereign debt disaster as nation states try to help, and is now becoming a supranational headache instead as the few remaining stable authorities, such as the EU and International Monetary Fund, get dragged in too.

Understandably, many are now again questioning the role that banks and traders have played in this saga – not least as a government-spurred recovery in bank profits once again drives personal bonuses to record levels.

In Europe, anger at the financial system is directed particularly towards London and New York, where most of the world's currency traders and debt investors hang out. The EU is already working on plans to form its own credit rating agencies as an answer to what many see as an American hegemony....

Satisfying, and just, as it may be to turn fire back on the financiers, the complicating factor is that indebted countries have never needed them more. Perhaps only a root-and-branch reassessment of our financial system itself can save us now. Read more.

Speaking Events

2016

War Is A Lie: Second Edition
Book Tour

May 29, Oakland, CA
3 to 4 p.m., David Swanson interviewed by Cindy Sheehan, at Diesel: A Bookstore, 5433 College Avenue at Kales (near Manila), Oakland, CA
Sign up on FB.

May 29, Berkeley, CA
7:30 to 9 p.m., David Swanson and Cindy Sheehan at Berkeley Fellowship of Unitarian Universalists, sponsored by the Social Justice Committee and Cynthia Papermaster, 1606 Bonita Ave. (at Cedar), Berkeley, CA
Sign up on FB.

May 30, Fresno, CA
2 to 4 p.m., David Swanson and Cindy Sheehan at a Peace Fresno event
Community United Church of Christ
5550 N. Fresno Street
Fresno, CA 93710
Contact Dan Yaseen 559-251-3361, danyaseen@comcast.net
Sign up on FB.

June 11 St. Paul, MN, 6 p.m. at Macalester Plymouth Church Social Hall 1658 Lincoln, St. Paul, MN.
Sign up on FB.

June 12 Minneapolis, MN, 9 and 11 a.m. at St. Joan's 4533 3rd Ave So, Minneapolis, MN, plus peace pole dedication at 2 p.m.
Sign up on FB.

 

June 24 Roanoke, Va.
7:30 pm @ Unitarian Universalist Church of Roanoke (2015 Grandin Rd SW, Roanoke, VA 24015). Contact: plowshare@plowshareva.org
Sign up on FB.

 


Other Events Here.

 

 

 

 

 

 

CHOOSE LANGUAGE

Support This Site

Donate.

Get free books and gear when you become a supporter.

 

Sponsors:

Speaking Truth to Empire

***

Families United

***

Ray McGovern

***

Financial supporters of this site can choose to be listed here.

Buy Books

Get Gear

The log-in box below is only for bloggers. Nobody else will be able to log in because we have not figured out how to stop voluminous spam ruining the site. If you would like us to have the resources to figure that out please donate. If you would like to receive occasional emails please sign up. If you would like to be a blogger here please send your resume.
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.