“The system has lost its self evidence, its automatic legitimacy and now the field is open.” Slavoj Zizek Slavoj Zizek, popular and renowned Slovenian political philosopher often cited by the Occupy Wall Street movement, is an outspoken critic of both capitalism and communism. In an excellent interview with Al Jazeera, Slavoj Zizek describes how […]
Read MoreThe Global Post is reporting that Greece is about to start publicizing the names of its wealthy elite who flaunt tax laws, estimating some third or $20 billion in taxes go unpaid every year in Greece. This inability to fully collect its revenues has been blamed for much of Greece’s budgetary shortfalls and, it’s speculated, […]
Read MoreThe European Union and the Eurozone project represent world geopolitical paradigms that are the legacies of World War II and the Cold War era. Beginning as the European Coal and Steel Community, the European Union had its stated aims in the supranationalist spirit of the ECSC’s founding organizers as well as in the principle of […]
Read MoreIMF Chief Christine LaGarde, replacement for Dominique Strauss Kahn (who seemed to be busier chasing tail than focusing on his job), has advocated for a capital injection into European banks and states that ‘decoupling’ EU states from the monetary union is a myth. She has argued for capital injections into European banks, solutions to the […]
Read MoreAs discussed in previous blog posts, the problem with the Euro and the current debt crises wracking EU states like Greece and Spain stems largely from the EU member-states unrestrained ability to borrow money in the form of sovereign debt. While the Euro binds the EU together in monetary union, each member state is still […]
Read MoreEver since 2008 the financial world has been roiling because of various forms of insolvency. The most frightening of all developments has been the revelation that certain members of the EU have failed to adopt modernization policies (maintaining cartels and old labor agreements that were unworkable) aimed at making their economies more competitive and that […]
Read MoreThe German Bundesbank has increased pressure on German Chancellor Angela Merkel’s attempts at shoring up support for the ECB bailout of the sovereign debts of Italy and Spain in an attempt to stave off unsustainable future borrowing costs for the two beleaguered EU states. This just highlights the coordination difficulties inherent in the current financial […]
Read MoreIn debt markets, size matters. This article proposes that the EU proceed with the creation of a large common market for their sovereign debt to rival the debt markets of Japan and the United States. It also says that the EU should do this with or without Germany, which begs the question whether the author […]
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