Europe in Disarray - by Stephen Lendman
Destructive policies are weakening deeply troubled Eurozone economies.
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.
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.
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.