The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
The Eurozone rules, enshrined in the Maastricht Treaty (now part of the Lisbon Treaty), explicitly bar the ECB from giving credit to public entities or buying their bonds. This, quite simply, means the Eurozone member states now operate as local/regional governments under them used to. Lacking funding from a supranational entity since the European Union does not have its own fiscal resources, all states can rely on is their own tax income and they must run balanced budgets like a private firm or a local government in order to retain access to private credit. In the Eurozone, therefore, the State must be run like a private firm. What used to be a political slogan is now the only way to function consistently with the institutional framework. Even the Social Democrats admit it and propagate it.
by Oui - Mar 28 1 comment
by Oui - Apr 9
by Oui - Apr 12 4 comments
by Oui - Apr 8 22 comments
by Oui - Apr 2
by Frank Schnittger - Apr 201 comment
by Oui - Apr 171 comment
by Oui - Apr 17
by Cat - Apr 146 comments
by Cat - Apr 14
by Oui - Apr 124 comments
by Oui - Apr 10
by Oui - Apr 822 comments
by Cat - Apr 64 comments
by Oui - Apr 62 comments
by Oui - Apr 46 comments
by Oui - Apr 4
by Oui - Apr 3
by Oui - Apr 11 comment
by Oui - Mar 31
by Oui - Mar 304 comments
by Frank Schnittger - Mar 3012 comments
by Oui - Mar 293 comments