Sunday, June 20, 2010

Michael Hudson on Fascism in the European Union

http://www.philstockworld.com/2010/06/20/michael-hudson-europe%e2%80%99s-financial-class-war-against-labor-industry-and-government/

On Guns and Butter, the noted economist Dr. Michael Hudson, argues that the European Union, under the regulation of the Matricht Treaty, is run by financial interests who are engaged in outright class war against manufacturing and workers in Europe. The talk is titled, "Europe’s Financial Class War Against Labor, Industry and Government."

He claims the EU is solely an economic entity, not political, because it has no form of political representation.

He claims the EU's bureaucratic control over finance is allowing it to wage war against living conditions in Europe.

He claims (as do other observers) that the bailout of Greece was really a bailout of German banks and that Greece didn't get any benefits from the bailout. "Greece's economy has been sacrificed to pay the foreign banks."

Micheal Hudson argues that if the EU administrators are successful they will reduce living standards for the vast majority of the populace in Europe by at least 30%.

This is a must listen to interview for those interested in democracy and social equality.

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