Living with the ill functioning euro and the extreme monetary policies of the casino after capitalism
The abduction of Europe
Zeus, the king of the ancient Greek Gods, enamored the beautiful Europa and decided to seduce her. He transformed himself into a white bull and mixed in with her father's herds. While Europa and her helpers were gathering flowers, she saw the bull, caressed his flanks, and eventually got onto his back. Zeus took that opportunity and ran to the sea and swam with her on his back, to the
. He then revealed his true identity, and Europa became the first queen of island of Crete Crete. Yet, today Europa lives in grief, in pain, in a state of decadence of her ancient beauty and glory. And this cannot be tolerated.
The Modern Greek Tragedy
It is ironic that, all this should happen in the shadow of the Acropolis, the cornerstone of the greatest ancient civilization. The birthplace of Europe is tortured by the E. U ., which has moved away from its own ideals of convergence and solidarity between nations.The country that invented democracy, philosophy, mathematics, the arts, the search for knowledge, the spirit and the beauty pays the price of the most idiotic and irrational economic experiment in modern history. That of the euro zone, an abnormal common currency without the existence of any central political and economic umbrella.
Let us take a look at what happened in
recently. As the latest report of the Schiller Institute ascertains“the draft legislation at the European Parliament is proof that the Cyprus bank robbery was not a last-minute invention by the German government, but rather a well-planned operation concocted by the EU Commission”. Cyprus
Jacques Cheminade states that, “the euro zone supports the banking oligarchy. The euro was created by monetarist central bankers, the likes of Robert Mundell, It was doomed to fail.
According to the OECD, the following forty five states do not follow internationally accepted tax standards : Ireland, Costa-Rika, Liberia, Cyprus, Lichtenstein, Vanuatu, Luxembourg, Uruguay, Panama, Singapore, Finland, Hong-Kong, Seychelles, Samos, Belize, Bahamas, Nauru, Gibraltar, Gerstein island, Bermudez, British Virgin Islands, Mauricio, Cayman islands, Nevis island, Niue, etc. The well informed “Forbes” magazine, reports as tax-paradises, amongst others, the USA State of Dialoguer, Luxembourg, Switzerland, the City of London, Ireland, , Belgium, Hong Kong, Bermudez, the Cayman Islands, Lichtenstein, Monaco and Adores, the last three of which are known to have close links to Germany, France and Spain accordingly.
The bosses of the international casino capitalism could extinguish in one night those dirty tax heavens, the land of banking malpractices, the launderette of black money. But they do not want to. Except in cases such as
, which has been a thorn in their back for various reasons, one of those supposed to be their alleged connection to Russian black money. It appears that, “those who have the power order the music and set the rules”. In the case of the euro zone, the power lies with those who possess the key of the money box. They are those who print, manage and manipulate the euro. Cyprus
The euro zone ill functioning and the casino capitalism are to blame
In one of our studies at the
, we looked at main economic indexes, the GNP, the balance of payments, public deficits, inflation and unemployment, in an attempt to explore the development course of countries within and outside the euro zone. We found that, the economies of the peripheral countries, Greece, Italy, Portugal, Spain, Ireland the GIPSI, kept on well before joining the euro in 1999-2002, but drop downwards something a little later. The same is more or less true for other euro zone countries and especially for University of Piraeus Slovenia, Slovakia, Estonia, . Only Belgium Germany, France, Austria, Finland, , appear to doing well in general terms. Countries outside the euro zone such as Holland Britain, Denmark, Sweden, Czech Republic, and Bulgaria, Hungary, Poland, , maintain a steady upward growth trend, with partial decline with the advent of the crisis of 2009. Countries outside the EU like Romania Norway, Serbia, survived the crisis, and now develop at a normal and/or fast pace. As does Turkey Russia, China, India, Brazil, Argentina, even Ethiopia and , and many others all over the developing world. Ghana
So, today, four years latter, the majority of the developed and developing world, have gotten back on their feet after the economic crisis of 2008, with major or minor injuries. Only
Greece, Italy, Portugal, Spain, Ireland, , the peripheral countries within the euro zone, resample boats in turmoil. Cyprus
A basic question arises. What is the real cause of such a paradox? I will be happy to hear various proposals. But, strong statistical evidence points only to one strong explanation. This is mainly so because of “the ill functioning euro zone, combined with the malpractices of the extreme monetarist policies of the casino after - capitalism, the existence of internationally protected tax paradises and uncontrolled capital flows, the unification of trade and investment banks, the underestimation of the real productive economy and of humanitarian values in favour of the market ideals”. As proven by professor Steve Keen, by the end of the 1980, at an international level, the financial sector surpassed the non financial sector and after that period it rises at a very faster speed. ( see table). The “bubble economy” overthrows the real economy. And this results to the widening of income differences and to frightening world economic crises.