Europe must learn from the Greek tragedy

Bloomberg/Opinion/Mervyn King/7-10-2019

“Across Europe, a European identity remains popular – but the EU and its administrative state are not. As Greece’s difficulties drag on, and Europe’s politics turns ever more febrile, the union’s leaders need to ask themselves a fundamental question: What is the point of democracy if the views of voters are ignored?”

USAGOLD note:  King is the former governor of the Bank of England.  The comments above are delivered in the context of Greece’s voter rejection in 2015 of the austerity measures imposed upon it by the so-called troika – the European Commission, the European Central Bank and the International Monetary Fund. An interesting chart is included in King’s article that shows the Greek crisis dragging on much longer than the Great Depression of the 1930s.

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