|
REPLY TO THREAD
|
|
Subject
|
JPMorgan wants Euro dictatorship
|
|
User Name
|
|
|
|
|
|
|
| Font color:
Font:
|
|
|
|
|
|
Original Message
|
The U.S. Banks analysis wants an authoritarian regime for the euro zone. The reason: Some States would not enforce the necessary austerity measures. Civil and labor rights could lead to destabilization. The policy is unable to take the necessary steps to save the euro.
[link to translate.google.de]
“In the early days of the crisis, it was thought that these national legacy problems were largely economic: over-levered sovereigns, banks and households, internal real exchange rate misalignments, and structural rigidities. But, over time it has become clear that there are also national legacy problems of a political nature. The constitutions and political settlements in the southern periphery, put in place in the aftermath of the fall of fascism, have a number of features which appear to be unsuited to further integration in the region. When German politicians and policymakers talk of a decade-long process of adjustment, they likely have in mind the need for both economic and political reform.”
Yes, you read that right. It’s in dry, banker-ese, but the authors have basically said that the laws and constitutions of southern Europe are a bit too lefty, a product of their having been written by anti-fascists.
[link to homment.com]
|
|
Pictures (click to insert)
|
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | | | Next Page >> |
|
