[lbo-talk] Bashing Eurocapitalism

[dredmond at efn.org]

One of the beneficial side-effects of the immolation of the US Empire is
that we can now turn to more productive activities, like bashing
Eurocapital. Here's the latest Euro-bankster crime:


> http://news.bbc.co.uk/2/hi/business/8656649.stm
> "Massive Greece bail-out deal gets green light"

No, we can't blame this on Wall Street. The entities being bailed out
aren't Greek citizens, but the Eurobanks holding Greece's debt. Now Greece
is supposed to cut its budget deficit from 14% of GDP to 3% in four years
-- utter madness. But even after all the bloodletting:


> The country's national debt - currently at about 115% of GDP - would
> rise to 149% by 2013 before falling, it [the Greek government] added.

So one of the poorest states in the EU is supposed to rip out its own
economic heart and become progressively poorer for three years, and its
reward is that it will still owe *more* to the Euro-monetarist vampires
than at the beginning of the process.

I have a better idea: people of Europe, take back your Eurobanks. They
belong to you, not a verminous bunch of CEOs and neolib swindlers.

-- DRR