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Europe in Disarray

By       Message Stephen Lendman       (Page 1 of 7 pages)     Permalink

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Europe in Disarray - by Stephen Lendman

Destructive policies are weakening deeply troubled Eurozone economies.

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Europe's underpinnings can only hold so long. Years of entrapment under euro straightjacket rules means eventual dissolution and collapse.

Throwing more money at out-of-control debt problems buys delay only. Instead of swallowing painful solutions, EU leaders keep repeating the same mistakes, heading dire conditions to catastrophic ones.

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In fact, reactions to last week's summit were decidedly negative. On December 14, the Financial Times (FT) headlined, "Doubts about eurozone fiscal deal grow," saying:

The euro selloff against the dollar "showed the strain of efforts to force through austerity policies and impose tough new spending rules."

Moreover, concerns emerged among at least four non-euro countries over whether legal considerations would force them to join Britain and opt out.

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Czech Republic Prime Minister called the Brussels deal little "more than a blank sheet of paper....I think that it would be politically short-sighted to come out with strong statements that we should sign that piece of paper."

Irish Prime Minister Enda Kenny said a referendum at this stage would fail. An unnamed Brussels diplomat wants "some clarity on what this treaty might include. There are so many unanswered questions," he added.

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