BBC - The Euro was Doomed from the Beginning - Jacques Delores

According to one of the main architects of the Euro, Jacques Delores, it was "flawed from the beginning" and is in other words doomed to failure.

If this scenario unfolds (that the Euro collapses) then we're going to be in for one heck of a bad time.

It's a key week for the Eurozone this week, things could get bad very quickly.

Proof yet again that the political ambitions of a handful of greedy men override all common sense and care for the people they're supposed to be representing.

This could potentially plunge Billions of people into an economic tsunami.

Original story here: www.bbc.co.uk...

reply to post by Power_Semi


The USA,UK press is extremely prolific in bashing the Euro, remember that these nations have a geopolitical interest in propping up the dollar, to sustain the international system. Both nations have done their best to create an imperfect EU but at the same time love the centralism it provides to further their own global policies. Note also that the UK does not participate in the Euro-zone. Greece entered the Euro with pressures by the US, the Greek problems was already known at the time of the integration.

The Euro-zone was always a starting point, that depended in a long term deepening of Federalism among participants, especially in taxation policy, it was unsustainable to have Euro-zone participants competing among themselves. For instance Ireland's growth is intrinsically linked to their taxation policies. The protection of France agriculture was the main cause of Portugal and Spain woes (the UK has always protested on that regard but it gets an indemnification for the continued practice). The EU fishing policy also moved primary consumers states the capacity of production and internal sustainability.

There is an extremely interesting documentary going around about Poland fight to keep small producers in face of the EU policy that favors large corporations taking over the production of food. This had previously been seen in relation to milk production, in Portugal, Spain and Italy.

I have made a post about the subject on another parallel thread (5 Graphs That Will Make Your Mouth Drop!) Imagine the collapse of the Euro-zone, except the central economies probably France and Germany what would happen to the rest especially to the PIIGS ?.

Tho I am sceptical about the EU, and would prefer the UK take an alternative (non US) route.. I am even more sceptical about this given that Delores gave an interview to the Telegraph (in my opinion one of the more anti-EU) media outlets..

In my opinion there is a definite game in play and to be honest I have no idea what it is at the moment.. but I find this outburst, highly questionable at a time when Cameron was just in Paris talking with Sarkozy.