The Brewing European Debt Crisis

Macron is pushing for the European Finance Minister to raise money by selling EU bonds and then distribute the money to the 19-member Eurozone. France is very heavily indebted and here once again we have simply the goal to raise more money rather than reform. Because of the riots in France, Macron is trying to get the EU to fund France. They want to call this the European Monetary Fund and it would be pitched as stabilizing the Eurozone, but in reality, it is circumventing the austerity principles and budget constraints.

Juncker was the European Finance Minister to chair a body of European Finance Ministers from each member state. He would also become the Vice President of the European Union.
Juncker is seeking to use the European debt crisis that is brewing as the means to the ends resulting in the final federalization of Europe. If the EU raises the money and hands it out like welfare to the states, then they become addicted and totally dependent upon Brussels and thus eventually all sovereignty is surrendered.

This new European Monetary Fund would incorporate the European Stability Mechanism (ESM) which is a Luxembourg-based fund that lends money to states in crisis. They lent money to Cypris, Greece, Ireland, Spain, and Portugal. They were issuing their own debt but were not an EU entity. The ESM capitalization was guaranteed by the euro countries. Therefore, the proposal is really a takeover and it would be a way to funnel money to states such as France.

Latest Posts

The Scrubbed BlackRock Ad

https://www.armstrongeconomics.com/wp-content/uploads/2024/07/BlackRockAdvertisement.mp4   Thomas Matthew Crooks was featured in a BlackRock commercial that has since been scrubbed from the internet. The World Economic Forum-aligned company that manages $10.6 trillion in assets [...]
Read more

The Propaganda Leading to the Dangerous Left

https://www.armstrongeconomics.com/wp-content/uploads/2024/07/ThreatsonTrump.mp4   The nation was silent when President Joe Biden called Donald Trump’s supporters “domestic terrorists” who are the “greatest threat to the nation.” Demonizing Trump has extended to demonizing [...]
Read more