With the Greek Parliament's Debt Truth Commission having just found Greece's entire debt to the Troika to be "illegitimate and odious," {EIR} Founding Editor and economist Lyndon LaRouche today called attention to the "overall picture on euro debt.""You cannot sustain the euro system, it is intrinsically bankrupt," LaRouche said. "If you base a `debt deal' on that system -- any `debt deal,' that deal will fail. The fraud of what Wall Street and London banks are calling `their debt assets', has to be eliminated, because populations -- not only the Greeks -- are being beaten down by worthless claims. {Cancel} those claims.
"Relieve the nations of the claims of this speculation, these `investments' in gambling bets, and an opening is created for internal economic development of European nations and the United States.
"The solution is an international policy of Glass-Steagall banking; agreements among these nations to implement Glass-Steagall principles.
