Euro Pact

There’s nothing more frustrating than watching this endless cycle of stupidity unfold. Sometimes it’s just more dignified to face death rather than fight it.

To regular readers, it will sound like a tiresome cliché by now, but the fact that capitalism never solves its own crises was driven home once more last week by the outcome of the much-anticipated European Union crisis summit in Brussels on Wednesday. Yet again, European leaders managed to stave off an immediate catastrophe by buying themselves some extra time. But, yet again, the fundamental problems remain unresolved.

Here’s a list of points that European heads of state agreed upon:

• Private creditors will “forgive” 50 percent of Greece’s sovereign debt.
• European banks will be recapitalized to the tune of 109bn euros.
• The European Financial Stability Facility (EFSF) will be ramped up to 1 trillion euros.

And here’s a list of reasons why this is nothing but hot air:

July 22nd and 23rd were very important for the political calendar of Europe. The European Commission signed the new adjustments of the Euro-Pact, the rules for the european commonwealth, organized by the European Bank, the IMF and the executive body of the European Union. In Brussels, where the whole summit took place, people went to the streets and squares to manifest their indignation regarding corruption and economical dominance of state affairs.
We have been there and experienced two days of rage in the european political capital.

(Part 2 of 2)

Part 1 here.

The past two days were very important for the political calendar of Europe. The European Commission signed the new adjustments of the Euro-Pact, the rules for the european commonwealth, organized by the European Bank, the IMF and the executive body of the European Union. In Brussels, where the whole summit took place, people went to the streets and squares to manifest their indignation regarding corruption and economical dominance of state affairs.
We have been there and experienced two days of rage in the european political capital.

(Part 1 of 2)

I spoke with WL Central reporter Wikileaks World, currently reporting on the #revolution across Europe. They were present today in Brussels where 200 demonstrators overtook European Parliament to protest the Euro Pact - in like manner to the protests in Spain and Greece against financial measures that grant greater power to corporations vis a vis employess, and erode the sovereignty of nation states.

INTERVIEW

What is going on in Athens at the moment is resistance against an invasion — and this invasion is being justified with the extensive use of mythology.

By Alex Andreou, originally published on SturdyBlog

I have never been more desperate to explain and more hopeful for your understanding of any single fact than this: The protests in Greece concern all of you directly.

What is going on in Athens at the moment is resistance against an invasion; an invasion as brutal as that against Poland in 1939. The invading army wears suits instead of uniforms and holds laptops instead of guns, but make no mistake – the attack on our sovereignty is as violent and thorough. Private wealth interests are dictating policy to a sovereign nation, which is expressly and directly against its national interest. Ignore it at your peril. Say to yourselves, if you wish, that perhaps it will stop there. That perhaps the bailiffs will not go after the Portugal and Ireland next. And then Spain and the UK. But it is already beginning to happen. This is why you cannot afford to ignore these events.