Nigel Farage Destroys Europe's Latest Bad Idea
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I’ve landed this morning in Frankfurt... financial capital of one of the few remaining ‘healthy’ countries in Europe able to inspire a modicum of confidence among investors.
As southern Europe buckles under the weight of unserviceable debt and 60%+ youth unemployment rates, Germany is coasting along with an almost historically low unemployment rate, and an almost historically high stock index.
In fact, the disparity between Germany and its southern neighbors could not be more obvious.
The German Chancellor Angela Merkel has now become a de facto Trustee of the continent. Her fingerprints are all over everything– restructuring agreements, bailout plans, the bank account theft in Cyprus, etc.
She is, at this moment, hosting an EU conference in Berlin, making a public pledge to ‘tackle’ the continent’s job crisis. This seems strangely out of her jurisdiction.
It’s bad enough when people get screwed by their own politicians. Just imagine getting screwed over by some other country’s politicians…
Of course, European policy to deal with the jobs crisis is quite simple: print more money. And the German government has had long-standing influence in European monetary policy to make this happen.
The European Central Bank is right here in Frankfurt, just a stone’s throw away from the cafe where I’m at on Gallusanlage Street. The entire edifice is a shrine to the euro, complete with a hideous monument that probably measures ten meters across.
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