Bill Mitchell — Franco-German ‘Agreement’ Is To A Greater Extent Than Or Less Other European Dead-End

The latest ‘reform’ proposals from Europe mightiness survive taken every bit a sick joke if the players were non serious. On Sunday, Nov 18, 2018, the French President gave a speech communication at the traditional commemorative ceremony inwards the High German Bundestag to grade the Volkstrauertag (National Day of Mourning), which has been work of High German life since 1922 (originally to grade those who died during World War 1). His speech communication (Jacques Chirac was the concluding French president to address the Bundestag on June 27, 2000). His speech communication was 2 days afterward the respective finance ministers signed an ‘agreement’ to constitute a “Eurozone budget”, which the French finance government minister hailed every bit beingness a “major political breakthrough”. While that addition is questionable, it sure enough is non a major economical breakthrough. It is a dud. As dud every bit all the reform proposals that conduct maintain come upwardly earlier it. Just similar the imitation window dressing inwards Eniskillen inwards training for the G8 Summit inwards June 2013. Macron mightiness conduct maintain felt he was a big thespian on the footing phase simply the Germans conduct maintain his mensurate every bit they conduct maintain had of all French Presidents over the concluding several decades. The French actually were the drivers of the Eurozone together with they idea they were destined to restore their prominence inwards Europe. The Germans knew otherwise. And then it goes alongside the latest ‘agreement’. There is cypher inwards it that volition salve the Eurozone from crisis or restore sustained prosperity. Another European dead end....

Bill Mitchell – billy blog
Franco-German ‘agreement’ is closed to other European dead-end
Bill Mitchell | Professor inwards Economics together with Director of the Centre of Full Employment together with Equity (CofFEE), at University of Newcastle, NSW, Australia