Europe

Death By A Thousand Cuts: The Silent Assassination Of European Democracy

by Don Quijones •  • Comments Off on Death By A Thousand Cuts: The Silent Assassination Of European Democracy

By Don Quijones: The EU is riddled with fatal flaws and defects, including the single currency. However, by far the greatest — and certainly most dangerous — structural flaw is its gaping democratic deficit.

LEAKED Confession: Cesspool Of Greek-German Corruption

by Wolf Richter •  • Comments Off on LEAKED Confession: Cesspool Of Greek-German Corruption

Apparently, it has been impossible to sell Greece any weapons at all, not even a water pistol, without bribing officials at the Defense Ministry. But it takes two to tango. And in holier-than-thou Germany, the defense industry has been all too eager to dance with Greece.

Epic Duel In Spain Between The Politically Connected CEO Of A Collapsed Bank And A Judge

by Don Quijones •  • Comments Off on Epic Duel In Spain Between The Politically Connected CEO Of A Collapsed Bank And A Judge

By Don Quijones: In most places these days, it’s probably easier to pass a camel through the eye of a needle than it is to pass a corrupt CEO of a failed bank through a wide-open prison gate. But a judge in Spain tried – and it’s costing him dearly.

This Ends In A “Planned Economy” – Bundesbank President

by Wolf Richter •  • Comments Off on This Ends In A “Planned Economy” – Bundesbank President

When Jens Weidmann, President of the emasculated Bundesbank, speaks, central bankers and money printers worldwide stuff wax into their ears. “Caution,” he started out, “the euro crisis is far from over.” Then he committed central-bank heresy.

Mother Of All Currency Wars in One Chart: Dollar Vs. Swiss Franc

by Wolf Richter •  • Comments Off on Mother Of All Currency Wars in One Chart: Dollar Vs. Swiss Franc

The destruction of the dollar – so clearly visible against the Swiss Franc – took on a sudden virulent form in 1970. It has been going on just about all my life. And it’s still going on. When even the Swiss couldn’t handle it anymore, they too jumped into the currency war.

Germany’s Complex Export Religion In One Chart

by Wolf Richter •  • Comments Off on Germany’s Complex Export Religion In One Chart

Today we got another morsel from the German export smorgasbord, along with a beautiful long-term chart from the German statistical agency that says it all.

Unemployment Crisis Hits Economic Wunderkind Austria

by Wolf Richter •  • Comments Off on Unemployment Crisis Hits Economic Wunderkind Austria

In Eurostat’s “harmonized” unemployment rates for EU Member States, Austria is the glory land for job seekers: 4.8% unemployment, in first place, a universe apart from Spain (26.7%) and Greece (27.3%). But this “harmonized” rate is bologna. Austria is facing a growing crisis.

Freedom Or Subjugation? It’s (Not) Your Choice

by Don Quijones •  • Comments Off on Freedom Or Subjugation? It’s (Not) Your Choice

By Don Quijones: While many Spaniards may spit bile and venom at the merest suggestion of Catalonian autonomy, they would do well to ask themselves what happened to their own national sovereignty. How is it, for example, that Spain is taking orders on virtually all economic matters from men in black dispatched from Brussels and Frankfurt?

The Rajoy Horror Picture Show Lumbers On

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By Don Quijones: Two years ago, Mariano Rajoy rode a wave of public anger to victory in Spain’s general election. The man who could never win anything was suddenly gifted the closest any politician can hope to get to absolute power in an ostensibly democratic society. 

French Megabank: “Germany Should Leave The Eurozone”

by Wolf Richter •  • Comments Off on French Megabank: “Germany Should Leave The Eurozone”

Suddenly, there’s a solution to France’s economic crisis. Unlike the cacophonous clamor from the far right to drop the euro, this one is attractively presented with graphs and in terms that even a French politician might understand. And it’s not contaminated by partisanship.