After a tough night of wrangling, EU leaders have agreed to set up a new authority - tasked with keeping sinking banks afloat. And to do that, the new agency will be given access to Europe’s mammoth bailout funds - stocked in a large part by taxpayer money. This exact function was previously carried out by governments. But now, the EU can bailout a nation’s banks - without adding to the government’s debt levels - at least on the books. It’s something that Germany strongly opposed, but was forced to relent on due to Spanish and Italian insistence. Nigel Farage, a member of the European Parliament and leader of the UK Independence Party, believes that it’s Germany who plays the deciding role in these talks.
The rest of the world would benefit from following the example set by Iceland: Arresting the corrupt bankers who are responsible for the current economic turmoil.The difference between banking cartels and the mafia is becoming increasingly indistinguishable.
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im all up for putting the bankers in jail. especially any ones who where betting on high risk derivatives failing. which is nearly all of them.
shower of ****s
False & Failing: ‘Zombie banks criminals must go to jail’
A day in the life of the socialist superstate
Legislation you don’t get to hear about on the main TV news channels.
Keiser Report: Big guy ‘scandals’ vs small fry ‘crimes’ (E309)