Financial Sector PI(m)Ps vs Democracy

April 18, 2013

New Title/Paragraphs added.

Colmbrazel's Blog

The death of the euro is more likely than its survival.

Signs of imminent collapse are everywhere. Its tearing Europe apart. The EMU does not fulfill the ideals of the European Union anymore. (1) In The Telegraph, 12/04/13, Ambrose Evans-Pritchard writes: “Portugal’s elder statesman calls for ‘Argentine-style’ default – Telegraph Portugal’s leading elder statesman has called on the country to copy Argentina and default on its debt to avert economic collapse, a move that would lead to near certain ejection from the euro.

Mario Soares, who steered the country to democracy after the Salazar dictatorship, said all political forces should unite to “bring down the government” and repudiate the austerity policies of the EU-IMF Troika. “Portugal will never be able to pay its debts, however much it impoverishes itself. If you can’t pay, the only solution is not to pay. When Argentina was in crisis it didn’t pay. Did anything happen?…

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