IMF and the truth about the broken EU


Blackleaf
+2
#1  Top Rated Post
A devastating report published yesterday reveals why the decision of the British people to unshackle themselves from the crumbling European Union was so right.

In clear and simple language, it portrays the EU as an organisation in profound crisis, with declining growth, a tottering banking system, mass unemployment, alarming levels of debt and ‘deep-rooted structural weaknesses’.

The report warned that the continuing ‘refugee surge’ could bring even more instability, prompting the reinstatement of border controls and ‘hindering free movement within the single market’...

DAILY MAIL COMMENT: IMF and the truth about the broken EU


By Daily Mail Comment
9 July 2016

A devastating report published yesterday reveals why the decision of the British people to unshackle themselves from the crumbling European Union was so right.

In clear and simple language, it portrays the EU as an organisation in profound crisis, with declining growth, a tottering banking system, mass unemployment, alarming levels of debt and ‘deep-rooted structural weaknesses’.

The report warned that the continuing ‘refugee surge’ could bring even more instability, prompting the reinstatement of border controls and ‘hindering free movement within the single market’.


A devastating report published yesterday reveals why the decision of the British people to unshackle themselves from the crumbling European Union was so right

And on the eurozone, it concluded: ‘Without decisive actions, the euro area will remain vulnerable to instability and repeated crises of confidence’.

So who produced this chilling analysis? Some eurosceptic think tank perhaps, or a hyperbolic Leave campaigner? No, it was none other than the International Monetary Fund, one of the world’s most powerful global financial institutions.

As the Mail has consistently argued, there was more danger staying in a broken, sclerotic, economically dying union than in facing the challenges of forging new trade links with economies that are booming in the world.

Many others have similar doubts about the EU.

In a new book, Nobel Prize-winning economist Joseph Stiglitz declares that the single currency has had a crushing effect on the populations of southern Europe and is so deeply flawed it may have to be abandoned.

Adopting the euro in 1992 was ‘a fatal decision’, he argues. Instead of bringing prosperity and solidarity, it now threatens to tear the continent apart.

Meanwhile, the international ratings agency Moody’s warned yesterday that the rise of ‘nationalistic and protectionist movements’ could threaten the very existence of the EU.


Nearly all of whom backed Remain - including Chancellor George Osborne - are now trying to paint an apocalyptic vision of Britain’s financial future

And in its latest Global Strategy report, French bank Société Général carries a piece by one of its top analysts who says: ‘I believe it is only a matter of time before the eurozone project fractures’. He points out that Italy’s banking system is already on the verge of collapse.

Significantly, it emerged yesterday that Switzerland, Singapore and Hong Kong want to form a banking and financial alliance with London. Equally significantly India and China have made enthusiastic noises about strengthening trade links.

And it took Germany’s chambers of commerce to warn the EU it would be foolhardy to risk a trade war by imposing tariffs on imported British goods – especially as we buy more from Europe than we sell to it.

True, the pound has fallen but that isn’t necessarily bad news. It makes exports more competitive and encourages foreign tourists to come here. And, despite the apocalyptic forecasts, the stock market is higher today than before the referendum campaign began.

So why do we never hear of these positive developments from the political and economic establishment – nearly all of whom backed Remain and are now trying to outdo each other in painting an apocalyptic vision of Britain’s future?

From Bank of England Governor Mark Carney to the achingly europhile Financial Times, they are still seeking to terrify voters about the supposedly dire consequences of Brexit.

Having lost the vote, they seem determined to make their doom-laden prophesies come true by relentlessly talking the nation down.

If they spent as much time exploring the exciting new possibilities that Britain faces in increasing trade with the world at large and not just the backward-looking European Union, they would serve their country far better.


Read more: DAILY MAIL COMMENT: IMF and the truth about the broken EU | Daily Mail Online
Follow us: @MailOnline on Twitter | DailyMail on Facebook
Last edited by Blackleaf; Jul 9th, 2016 at 07:38 AM..
 
coldstream
+2
#2
I'm highly skeptical of anything the IMF puts out purportedly to support the UK Brexit. Along with the WTO and World Bank, the IMF has been at the forefront of imposing Free Trade and Free Markets on the developing countries as a condition to receive loans and monetary support.

They are the supranational agency that has oversight and control of Monetarism.. the commodification, denationalization and free markets in currency and credit. It has worked hand in hand with the biggest investment banks and international corporations, who are its real owners, to eradicate borders for currency and product and set up institutionalized slavery by way of Free Trade Industrial Zones. These contain a caged work force payed subsistence wages.. without regulation, unions, work security, and under the boot of militaristic police forces.. whose output is granted unrestricted access to first world markets at first world prices .

If you read this article carefully, you can see they are not supporting Brexit and dismantling the EU, they are trying to redirect the debate to immigration control while retaining Free Markets. This solves both of their problems with populism and nationalism. It retains a captive, desperate labour force with which to beat down unions and wages.. and allows unrestricted movement of capital and product to undercut any national legislation to require domestic investment and impose tariffs to support an integrated idustrial economy and to promote full employment and equitable distribution of wealth.

Don't trust the IMF, the are ideological fanatics. It is run by utterly despotic, hollowed out parasites, whose aims are that of a One World Tyranny. The EU was intended to be the prototype of a bureacratically controlled free market dictatorship.

Sovereignty means control of borders with respect immigration, taxation, trade and currency.. no half measures will work.
Last edited by coldstream; Jul 9th, 2016 at 01:45 PM..
 
Danbones
Free Thinker
+1
#3
"...Economic hit men (EHMs) are highly paid professionals who cheat countries around the globe out of trillions of dollars. They funnel money from the World Bank, the U.S. Agency for International Development (USAID), and other foreign "aid" organizations into the coffers of huge corporations and the pockets of a few wealthy families who control the planet's natural resources. Their tools included fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder. They play a game as old as empire, but one that has taken on new and terrifying dimensions during this time of globalization...."
https://en.wikipedia.org/wiki/Confes...onomic_Hit_Man
 
taxslave
Free Thinker
+1
#4
The EUwould have worked just fine as a free trade area. Letting it morph into a non elected left leaning bureaucracy that over rode sovereignty and let bankrupt nations grab cash from the producers was its demise.. Too bad
 
Danbones
Free Thinker
+2
#5
yep,
organic grass roots globalism might work
dictatorial technological police state globalism is like herding cats or pushing string
or dud whacking artillery shells in a bomb factory
 

Similar Threads

4
It's broken.
by petros | Oct 22nd, 2013
3
Speaking of broken CD's
by Locutus | Apr 25th, 2012