‘A New Epoch Has Begun in the History of the Euro’
Posted by seumasach on July 24, 2011
22nd July, 2011
Left-leaning daily Die Tageszeitung writes:
“A new epoch has begun in the history of the euro. There were three remarkable developments at the EU summit in Brussels. First, the European Central Bank (ECB) was deprived of its power. Second, no more respect will be paid to the ratings agencies. Third, it is only a matter of time until euro bonds are used across the board. All three developments are worthy of embrace. They are also unavoidable if the euro is to survive.”
“In the long term, this means that the euro zone is declaring independence from the financial markets. That is a historic step.”
In These New Times 
Leave a comment