The Euro Has Been a Smashing Success

It’s a technique for neutering politics and empowering the corporations even more.

“Robert Mundell, evil genius of the euro

“For the architect of the euro, taking macroeconomics away from elected politicians and forcing deregulation were part of the plan …

“The idea that the euro has “failed” is dangerously naive. The euro is doing exactly what its progenitor – and the wealthy 1%-ers who adopted it – predicted and planned for it to do. …

“The euro would really do its work when crises hit, Mundell explained. Removing a government’s control over currency would prevent nasty little elected officials from using Keynesian monetary and fiscal juice to pull a nation out of recession.

“It puts monetary policy out of the reach of politicians,” he said. “[And] without fiscal policy, the only way nations can keep jobs is by the competitive reduction of rules on business.”

“He cited labor laws, environmental regulations and, of course, taxes. All would be flushed away by the euro. Democracy would not be allowed to interfere with the marketplace …

http://www.guardian.co.uk/commentisfree/2012/jun/26/robert-mundell-evil-genius-euro

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.