The “Dollar Zone” is Reaching its Objectives Europe Must React Immediately

Thursday, June 21, 2012

Some time ago I called attention to what the impact of the “markets” really means for the economy of Europe: with the demise of globalization the “great (military, financial, energy and media) domain” is seeking first to devastate the Euro-zone, to immediately thereafter do the same in the Yuan-zone. 

After the events in Ireland, Greece and Portugal, and with a total lack of European coordination and union, the markets have not only continued their attacks on Spain and Italy… but have been able to directly appoint governments without holding elections in Greece, the cradle of democracy, and in Italy… 

The European Union still doesn’t have an autonomous security system and hasn’t reduced military spending; it still hasn’t created a fiscal federation with growth incentives… And under these conditions it is clear that the “dollar-zone” will soon achieve its victory. 

I published an article with President Mario Soares (see on “Saving the Euro, Saving Europe”, which is even more relevant today, if possible. 

Europe must react immediately. The events that have transpired in Spain in the last few days underscore the urgency of the action required.