Germany Enforces Same Austerity that Paved Way to 3rd Reich

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F. William Engdahl
October 30, 2012
05:34

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Germany Enforces Same Austerity that Paved Way to 3rd Reich
by grtv

One in four people are now officially out of work in Spain as unemployment in the debt-ridden country reaches another record. The grim news comes as Madrid's transport workers go on strike, adding to a sixth day of protests in the capital against austerity cuts.

That's as another epicentre of the EU crisis - Greece - looks likely to miss its promised deficit deadline. The forecast from the International Monetary Fund's debt inspectors comes a year after EU leaders applauded what they considered a key deal to save Athens.

Author and publicist F. William Engdahl, says all the measures the EU leaders are imposing are failing to address the core problems on the continent.

“Those banks remain the source of the problem. There is no lending going on to the real economy, and that`s the root cause of the 25 per cent unemployment in Spain and Greece and elsewhere across the EU,” he stated.

Comments

 
2012 / 11 / 01
Lionel Heredia says:

Americans had better pay close attention to what's happening in the EU an not be lulled into a false state of security here at home. Large Corporations and their bottom line for profit will drag us all into more war and poverty. Let's not be deer in the headlights.

2012 / 11 / 03
Jean Patrice Mundadi says:

What is happening in Europe is a direct consequence of a naive faith in the security that US banking system seemingly thought to be offering. As aJudeo christian world, the West should heed at what Psalm 118:8-9 says:It is better to trust and take refuge in the Lord than to put confidence in man. It is better to trust and to take refuge in the Lord than to put confidence in princes.

2013 / 01 / 12
Sunardi Hamid says:

As a layman in finance and economics I still cannot comprehend why the US and Europe and sliding into a recession. What is the cause of this phenomena?

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