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Εγχειρίδιο χειρισμού κρίσεων λόγω πολιτικών ΔΝΤ από τη CIA! / Already confirmed: Civil liberties under attack! / Greece's creditors gone completely insane! / How the global financial mafia sucked Greece's blood / ECB's economic hitmen / Η Μέρκελ επιβεβαιώνει τα σχέδια των γραφειοφασιστών! /Greece: the low-noise collapse of an entire country/ How the neoliberal establishment tricked the masses again, this time in France / Ενώ η Γερμανία προετοιμάζεται για τα χειρότερα, η Ελλάδα επιμένει στο ευρώ! / Ένας παγκόσμιος "proxy" πόλεμος κατά της ελευθερίας έχει ξεκινήσει! / McCarthyism 2.0 against the independent information / Ο επικεφαλής του "σκιώδους συμβουλίου" της ΕΚΤ επιβεβαιώνει ότι η ευρωζώνη είναι μια χρηματοπιστωτική δικτατορία! / Venezuela case as an emphatic example of why the mainstream media propaganda in the West was so successful in previous decades / Δημοψήφισμα για Grexit: η τελευταία ευκαιρία να σωθεί η Ελλάδα και η τιμή της Αριστεράς / Populism as the new cliche of the elites to stigmatize anyone not aligned with the establishment / Δεν γίνεται έτσι "σύντροφοι" ... / Panama Papers: When mainstream information wears the anti-establishment mask / The Secret Bank Bailout / The head of the ECB “shadow council” confirms that eurozone is a financial dictatorship! / A documentary by Paul Mason about the financial coup in Greece / The ruthless neo-colonialists of 21st century / First cracks to the establishment by the American people / Clinton emails - The race of the Western neo-colonialist vultures over the Libyan corpse / Επιχείρηση Panama Papers: Το κατεστημένο θέλει το μονοπώλιο και στις διαρροές; / Operation "looting of Greece" reaches final stage / Varoufakis describes how Merkel sacrificed Greece to save the Franco-German banks / France officialy enters the neo-Feudal era! / The US establishment just gave its greatest performance so far ... / A significant revelation by WikiLeaks that the media almost ignored / It's official: the US is funding Middle-East jihadists! / Οι αδίστακτοι νεο-αποικιοκράτες του 21ου αιώνα / How to handle political unrest caused by IMF policies! / Πώς το νεοφιλελεύθερο κατεστημένο ξεγέλασε τις μάζες, αυτή τη φορά στη Γαλλία / The international usurers return to the crime scene called Greece!

03 March, 2016

Former BoE chief confirms: Euro depression is 'deliberate' EU choice!

Europe's deep economic malaise is the result of "deliberate" policy choices made by EU elites, according to the former governor of the Bank of England

Lord Mervyn King continued his scathing assault on Europe's economic and monetary union, having predicted the beleaguered currency zone will need to be dismantled to free its weakest members from unremitting austerity and record levels of unemployment.

Speaking at the launch of his new book, Lord King said he could never have envisaged an economic collapse of the depths of the 1930s returning to Europe's shores in the modern age. But the fate of Greece since 2009 - which has suffered a contraction eclipsing the US depression in the inter-war years - was an "appalling" example of economic policy failure, he told an audience at the London School of Economics.

[...]

Lord King - who spent a decade fighting the worst financial crisis in history at the Bank of England - has said the weakest eurozone members face little choice but to return to their national currencies as "the only way to plot a route back to economic growth and full employment".

[...]

the European Commission has defended itself against claims that punishing austerity measures have made incumbent European regimes unelectable, arguing that Brussels' economic policy represents a "virtuous triangle" of austerity, structural reforms and investment.

Outside of the eurozone, Lord King warned against undue pessimism about the longer-term prospects for the world economy, dismissing the "secular stagnation" thesis made popular in recent years by the likes of US treasury secretary Larry Summers.

He said it was a "serious mistake" to believe that productivity - which has flatlined across the developed world since the crisis - would never revive as technological development has been exhausted.

[...]

"The thinking that all these ideas will not come through to have practical ways of improving our living standards, seem extraordinarily pessimistic and something for which there is no basis in fact at all over the last 250 years of economic growth."

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