During the the Global Policy Forum (Russia), Jeffrey Sommers and Michael Hudson discussed the future of the EU with Bloomberg columnist Matthew Lynn.
Posts Tagged ‘ Euro ’
German Taxpayers Willingly Subsidise Bankers
NY Times, August 11, 2011 A debate between five economists on “Why Aren’t Germans Protesting?” Rightly Disgusted at the Banks A bailout, like any other government expenditure, is a tax. Someone must pay all this money. And it is unfair to tax the broad population to pay for a special interest. Instead of being...
Greece now, US soon
Geithner says, wait a minute, American banks have made huge billion-dollar--maybe, for all we know, a trillion-dollar bet that the Greeks will repay. They've made derivative plays, they've made cross-party insurance, and American banks would lose money. Now, if there's a choice between American banks losing $1 and Europe going into neo-feudalism for a...
IMF the Economic Hangman
Michael on the Keiser Report, discussing the role of finance in the EU debt crisis. How does Wall St and the IMF fit into the picture? Michael comes on at the 14 minute mark. Download the Hudson only portion of the interview
Rolling Back the Progressive Era
Financial strategists do not intend to let today’s debt crisis go to waste. Foreclosure time has arrived. That means revolution – or more accurately, a counter-revolution to roll back the 20th century’s gains made by social democracy: pensions and social security, public health care and other infrastructure providing essential services at subsidized prices...
How Financial Oligarchy Replaces Democracy
Will Greece Let EU Central Bankers Run Riot Over Sovereignty? When Greece exchanged its drachma for the euro in 2000, most voters were all for joining the Eurozone. Their hope was that it would ensure stability, and that this would promote rising wages and living standards. Few saw that the stumbling point was tax...
EU: Politics Financialized, Economies Privatized
Breakup of the euro? Is Iceland’s rejection of financial bullying a model for Greece and Ireland? This article is an excerpt from Prof. Hudson’s upcoming book, “Debts that Can’t be Paid, Won’t Be,” to be published later this year. Last month Iceland voted against submitting to British and Dutch demands that it compensate their...
Europe Sacrifices Labour for Finance
The “New Austerity” Road Europe is committing fiscal suicide – and will have little trouble finding allies at this weekend’s G-20 meetings in Toronto. Despite the deepening Great Recession threatening to bring on outright depression, European Central Bank (ECB) president Jean-Claude Trichet and prime ministers from Britain’s David Cameron to Greece’s George Papandreou (president...
Why Europe Can't Look After Itself
Hudson’s latest interview with Bonnie Faulkner, discussing his recent venture to Latvia amidst Europe’s current troubles. Why have government’s suddenly forgotten how to finance themselves? Hudson on Guns N Butter, June 2010
Poland, the Euro, and the Dollar's Double Standard
Published in Fakt (Warsaw) Poland’s vote to join the European Community has put an end to the centuries of military rivalries that have long devastated the nation and its neighbors. Entry into the EC makes future internecine wars unthinkable. That was the easy decision to make. Poland now must confront the financial issue dividing...
Books by Michael Hudson
