The European Union Mafia is currently engaged in a Turf War where the citizens are quite literally held hostage by their local faction of the European Union Mafia.
J. Paul Getty famously said:
If you owe the bank $100 dollars that’s your problem.
If you owe the bank $100 million that’s the bank’s problem.
BrainyQuote – J. Paul Getty
In the Alice In Wonderland world of the European Union the European Union Mafia has realised that if a debtor nation has massive Euro debts that it will never repay then the creditor nations have massive economic problems.
The European Union Mafia has been trying to resolve this fundamental problem since 2011 by pushing for further financial integration and Eurobonds.
Eurobonds or stability bonds were proposed government bonds to be issued in euros jointly by the European Union‘s 19 eurozone states.
The idea was first raised by the Barroso European Commission in 2011 during the 2009–2012 European sovereign debt crisis.
Eurobonds would be debt investments whereby an investor loans a certain amount of money, for a certain amount of time, with a certain interest rate, to the eurozone bloc altogether, which then forwards the money to individual governments.
The European Union Mafia is not letting the Corona Crisis go to waste.
Nine European countries have called for “corona bonds”.
Nine European countries—Italy, France, Belgium, Greece, Portugal, Spain, Ireland, Slovenia and Luxembourg—called for “corona bonds” (a type of eurobond) in order to help their countries to recover from the epidemic, on 25 March.
Their letter stated, “The case for such a common instrument is strong, since we are all facing a symmetric external shock.”
But Germany and the Netherlands have said: No.
Corona bonds were discussed on 26 March 2020 in a meeting between heads of government of EU member states, but Germany and the Netherlands ruled out issuing such bonds.
The summit dragged out for three hours longer than expected due to the “emotional” reactions of the prime ministers of Spain and Italy.
European Central Bank head Christine Lagarde, who plans (separately) to issue more than 1 trillion euros in bonds in response to coronavirus, urged the EU to consider issuing corona bonds.
So now there is a bizarre situation where the European Union Mafia is literally holding their citizens and their economies hostage.
If the demands of the European Union Debtors aren’t meant then they will destroy the Euro-Zone by defaulting on their debts, destroying their economies and destroying the lives of their citizens.
If their demands are met then the European Union Debtors hand over economic control to the Technocrats in Brussels and hope for the best.
Clearly, hoping for the best isn’t a winning strategy.
EU citizens will probably continue to be held hostage until the European Union Mafia resolve [one way or another] this bizarre Turf War mixed with a Suicide Pact.
Of course there are good Germans who want Corona bonds, but the simplest solution to the Eurozone’s crisis has always been to expel Germany.
If Germany Rejects ‘Corona-Bonds’, They Must Quit The Eurozone
Zero Hedge – Tyler Durden – 2 April 2020
In the meantime it’s probably best to take the outlier Corona Crisis statistics with a pitch-of-salt because some factions of the European Union Mafia want to maximise the drama while others factions want to quietly damp down the hysteria.
Americans should ponder the possibility they will be terrorised and held hostage until the opinion polls shows a Blue Party President will be elected later in the year.