Neo Communist party leader Alexis Tsipras set up a confrontation with the transnational elites as he is making good on his promise to end economic reforms. In the meantime national sovereignty and the democratic process have been suspended by the euro group, who in effect are trying to run the country instead of the elected government.
Stefan Molyneux explains why the current system is a prop up for the Socialist system of private money controlled by governments.
Stefan Molyneux explains why the current system is a prop up for the Socialist system of private money controlled by governments.
"The Tragedy of the Euro" by Philipp Bagus is a Must Read for all students of the euro disaster area. The book explains the history of banking and why current monetary system is so corrupt, that it is bound to collapse sooner or later. The Mises Institute has kindly released a free PDF of the book.UPDATE: Germany, which has taken a tough line on Greece, has profited from the country's crisis to the tune of 100 billion euros ($109 billion), according to a new study Monday. The sum represents money Germany saved through lower interest payments on funds the government borrowed amid investor "flights to safety", the study said. "These savings exceed the costs of the crisis -- even if Greece were to default on its entire debt," said the private, non-profit Leibniz Institute of Economic Research in its paper. "Germany has clearly benefited from the Greek crisis." When investors are faced with turmoil, they typically seek a safe haven for their money, and export champion Germany "disproportionately benefited" from that during the debt crisis, it said. "Every time financial markets faced negative news on Greece in recent years, interest rates on German government bonds fell, and every time there was good news, they rose." (Source)
