Soome olukord

By Ambrose Evans-Pritchard

Finland’s depression is the final indictment of Europe’s monetary union

Finland is sliding deeper into economic depression, a prime exhibit of currency failure and an even more unsettling saga for theoretical defenders of the euro than the crucifixion of Greece.

A full six-and-a-half years into the current global expansion, Finland’s GDP is 6pc below its previous peak. It is suffering a deeper and more protracted slump than the post-Soviet crash of the early 1990s, or the Great Depression of the 1930s.

Nobody can accuse Finland of being spendthrift, or undisciplined, or technologically backward, or corrupt, or captive of an entrenched oligarchy, the sort of accusations levelled against the Greco-Latins.

The country’s public debt is 62pc of GDP, lower than in Germany. Finland has long been held up as the EMU poster child of austerity, grit, and super-flexibility, the one member of the periphery that supposedly did its homework before joining monetary union and could therefore roll with the punches……..

…….The question has to be asked in any case: if the euro cannot be made to work for what is supposed to be the most competitive country in the EU, who can it work for?

The demise of French greatness and the European Left

The demise of French greatness and the European Left

The GFC clearly, in my view, demonstrated that the political positions held by both the left- and right-wing governments in the West with respect to economic policy were untenable. Both sides of politics in each major and country adopted versions of market liberalism where the overlap was more dominant than the differences. While the left maintained some emphasis on social policy and the right maintained an emphasis on individual freedom (which was more about corporate freedom than anything), the fact remains that these differences were blurred by the dominance of the free market approach in each of their platforms. It is ironic, that as a consequence of the GFC, the bureaucratic state is more dominant now than it was, especially in the European Union where the political and technical elite interacts with the so-called market to create what has been called the democratic deficit……


Raha finantseeritud defitsiidid

The New Yorker

Printing Money

The gross domestic product is a measure of all the goods and services that the United States economy produces in a year. It’s also a measure of all the income that the economy generates, and how fast it grows helps determine how rapidly over-all prosperity rises. Between 1947 and 1974, G.D.P. rose by about four per cent a year, on average, and many American households enjoyed a surge in living standards. In the nineteen-eighties and nineties, growth dropped a bit, but still averaged more than three per cent. Since 2001, however, the rate of expansion has fallen below two per cent—less than half the postwar rate—and many economists believe that it will stay there, or fall even further. In economic-policy circles, the phrase of the moment is “secular stagnation.”

The late Harvard economist Alvin Hansen minted this term during the nineteen-thirties, and Lawrence Summers resurrected it a couple of years ago. Although originally applied to the United States, it is also widely used in reference to the European Union, where G.D.P. growth has been even slower than in the United States, and to Japan, where, for more than two decades, it virtually vanished. Indeed, one of the fears that economic pessimists have raised is that the United States and other Western countries could be heading for Japanese-style stagnation.
What could get us out of the rut? Until recently, the textbook prescription for slow growth involved cutting interest rates and introducing a fiscal stimulus, with the Treasury issuing debt to pay for more government spending or for tax cuts (aimed to spur household spending). That was the recipe that the United States, Britain, and other countries followed after Lehman Brothers collapsed, and it helped prevent a deeper slump. Today, however, neither of the traditional policy responses is readily available. The short-term interest rate that the Federal Reserve controls has been close to zero since December, 2008. Janet Yellen, the Fed chair, and her colleagues can’t cut rates any further. And with over-all federal debt standing at more than eighteen trillion dollars Congress would strongly oppose the Treasury’s borrowing more money for another stimulus package. In the E.U., the situation is even more fraught. Growth has been negligible for years, interest rates are at very low levels, and a legal commitment to austerity policies rules out a fiscal stimulus.

Adair Turner, an academic, policymaker, and member of the House of Lords, has another idea. In his new book, “Between Debt and the Devil: Money, Credit, and Fixing Global Finance” (Princeton), Lord Turner argues that countries facing the predicament of onerous debts, low interest rates, and slow growth should consider a radical but alluringly simple option: create more money and hand it out to people. “A government could, for instance, pay $1000 to all citizens by electronic transfer to their commercial bank deposit accounts,” Turner writes. People could spend the money as they saw fit: on food, clothes, household goods, vacations, drinking binges—anything they liked. Demand across the economy would get a boost, Turner notes, “and the extent of that stimulus would be broadly proportional to the value of new money created.”

The figure of a thousand dollars is meant to be strictly illustrative. It could just as easily be five thousand dollars or ten thousand dollars—however much was needed to drag the economy out of the doldrums. These handouts wouldn’t represent tax credits or rebates, which are issued by the Treasury Department. The funding would come from the central bank (in this country, the Federal Reserve), which would exploit its legal right to create money. Central banks do this by printing notes and manufacturing coins, but they can also create money by issuing electronic credits to commercial banks, such as JP Morgan and Citibank. Under Turner’s proposal, that’s what the Fed would do—give banks newly created money, which would be passed along to their account holders. Merry Christmas, everyone!

It’s a deadly serious proposal, actually, and its author is a sixty-year-old English technocrat renowned for his intellect and his independence. Turner has run the Financial Services Authority (roughly, the British equivalent of the Securities and Exchange Commission), the Confederation of British Industry (akin to the U.S. Chamber of Commerce), and the Pensions Commission (think Social Security). For the past two years, he has been a senior fellow at the Institute for New Economic Thinking, a transatlantic think tank that George Soros set up in 2009. If, despite Turner’s impressive credentials, the words “hyperinflation,” “Weimar Republic,” and “Robert Mugabe’s Zimbabwe” are whirling around in your head, he would certainly understand. “My proposals will horrify many economists and policymakers, and in particular central bankers,” he writes. “ ‘Printing money’ to finance public deficits is a taboo policy. It has indeed almost the status of a mortal sin.”
But it’s also a proposal that serious economists have broached before. In 1969, Milton Friedman argued that money financing could provide an alternative to Keynesian debt financing. Faced with a chronic shortfall of demand in the economy, Friedman said, the government could print a bunch of money and drop it from helicopters. In 2003, Ben Bernanke, who was then a governor at the Fed, suggested that such “helicopter drops,” or their electronic equivalent, could provide the Japanese government with a way to lift its economy out of a decade-long slump. More recently, a number of liberal economists rallying under the banner of “Modern Monetary Theory” have urged the government to reverse budget cuts, financing the spending with money created by the Fed. In Britain, Jeremy Corbyn, the new leader of the Labour Party, has suggested that the Bank of England could pay for some infrastructure spending by printing money.

So far, these ideas have gained little traction. Bernanke, after taking over the Fed, in 2006, seldom mentioned his earlier proposal. Even Paul Krugman, who is usually a big supporter of stimulus programs, has distanced himself from Modern Monetary Theory, pointing to the danger of inflation from excessive monetary growth. Turner, however, insists that creating money may be the only way of generating a decent rate of economic growth and escaping our current predicament……

Artikkel on veits parlanksist väljas selles mõttes, et kui vaadata keskpanga monetaaroperatsioone, siis MMT ei pea seda “raha finantseeritud defitsiiti” just ilmtingimata imerelvaks. Peaasi, et oleks defitsiit, rahastatud see saab, selles probleemi pole. MMT positsioon- valitsuse defitsiitne kulutamine on samaväärne raha trükkimisega, kuigi ühtegi niisugust operatsiooni pole, mida võiks raha trükkimiseks nimetada kaasaegses fiat süsteemis MMT arvates.

Aga jah, siis hakkavad võhikud rääkima, et võlg on võõra oma ja jätkusuutmatu, kuigi tehniliselt on ju raha ka võlg, oma olemuselt valitsuse kohustus. Raha kohta nad arvavad, et seda ei pea “ära maksma” ja intressid ei saa lakke tõusta. Kuigi ka mainstreami seas on üksteisele vastukäivaid arvamusi, mõned arvavad, et ka lühiajalise intressi määrab turg, teised jälle, et ainult valitsuse võlakirjadele määrab turg intressi.  Mõni aeg tagasi vaatasin videoklippi, kus Kristjan Lepik oli koos Jürgen Ligiga auditooriumile rääkjimas USA võlast. Lepik ütles, et valitsuse võlg ei erine majapidamise võlast. Ta on pikki aastaid oodanud USA treasury võlakirjade mulli lõhkemist. Kui USA alustas QE-ga, siis rääkis ta, et inflatsioon on pikema vinnaga asi ja ilmneb alles mõne aasta pärast. Minu meelest suurepärane näide sellest, kuhu mainstreami muinasjutud inimese viivad ja mida uskuma panevad.

Jürgen Ligi rääkis ju ka, et turud on olnud Euroopa suhtes ülekohtused ning USA ja Jaapani võlatasemed on palju kõrgemad, kuid intressid võlakirjadele madalamad. Kui sa veel mäletad, siis samasse ämbrisse astus ka Krugman  PAUL KRUGMAN LAHENDAS MÕISTATUSE

Eurotsoon, spare capacity


Euro zone business growth at four-year high

Business activity in the euro zone picked up at its fastest pace since mid-2011 this month, and far quicker than expected, as slowing growth in France following the Nov. 13 attacks was offset by a buoyant Germany.

While the upturn in activity may be welcomed by European Central Bank policymakers, Monday’s surveys showed firms again cut prices, suggesting ultra-loose monetary policy is doing little to get inflation near their 2 percent target.

“This upbeat survey about the European economy fell short on one important aspect though: inflation,” said Bert Colijn at ING. “The survey indicated that despite the strongest output growth and job creation since early 2011, there was still no sign of inflationary pressures.”

Even with the ECB injecting 60 billion euros a month of new money through its bond-buying programme since March to support growth and inflation, prices rose only 0.1 percent last month. It is expected to expand the programme in December……

……”Overall, euro zone GDP growth of even 0.5 percent will not be sufficient to eat into the vast amount of spare capacity that still exists and help to boost inflation,” said Jessica Hinds at Capital Economics……..

Inflatsiooni pole ja eurotsoonis on “spare capacity”, mis tähendab vabu tootmisvõimsusi majanduses. Majanduspoliitikat aetakse diletantlikult, kui miljonid inimesed on töötud ja majanduslikud väärtused jäävad loomata. Võib olla kordan ennast liiga tihti, aga eurotsooni kõige suurem probleem on tasakaalutus. Seda nad lahendada ei suuda praeguse set up’i juures. Tänu vigasele eurole opereerib majandus eurotsoonis alla oma potentsiaali. ECB “rahatrükk” pole inflatsiooniline.

Kasinusvastane retoorika

Austerity and Anger: Protests Against Syriza’s EU Deal

Peale Syrizat peaks selge olema, et  kasinusest loobumisest rääkijad peaksid  välja ütlema, et nad on valmis loobuma stabiilsuse ja kasvu paktist. Kui poliitik ütleb, et ta lõpetab kasinuse võimule saades, siis ta tuleb mugavustsoonist välja tirida ja temalt küsida, et kas ta on valmis loobuma stabiilsuse ja kasvu paktist ning seega võimalikult ka eurost. Kui ta selleks valmis pole, siis on tegemist populistiga, kes ajab rahvale kärbseid pähe. Seda ei tasu loota, et ta jätab midagi igaks juhuks ütlemata ning on tegelikult valmis eurost loobuma. “euro on meie raha” ütleja toetab praegust majanduspoliitikat, öelgu ta ise mida tahes.

Eestis on minu meelest poliitiline realiteet selline, et eurost loobumisest rääkijad mainstream poliitikasse ei pääse ja igaüks, kes on kasinuse vastu tõeliselt, muutub poliitiliseks laibaks.

Euroopas laiemalt tunduvad kasinuse vastu olevat vasakpoolsed, aga rahvuslik suveräniteet ja üldse rahvuslus neile eriti peale ei lähe, sest nad on enda unistustes internatsionalistid. Kuigi viimasel ajal (ja mitte ainult) on paremkonservatiivid ka kasinuse vastu. Viimased on tõenäolisemad kasinusideoloogiale reaalselt vastu hakkama ja ka edu saavutama minu meelest.


Ega midagi muud polegi oodata sotsialistidelt. Tegelt on olukord sama ka meil Eestis. Retoorika erineb erakondadel ja nad kannavad erinevaid silte. Portugalis oli kasinusvastane retoorika vajalik, et võimule saada. Kas ei tule tuttav ette? Muuseas Varoufakisel on fännklubi ja paljud ootavad, et ta uuesti Kreeka valitsusse pääseks   :)   et sama teha, mida ta tegi.

New Socialist Government Keeps Portuguese People Under The Whip– Paul Craig Roberts

…..According to the Financial Times, representatives of the new socialist government have given reassurance that the new government will not abandon the austerity policies. Mario Centeno declared: “It’s not the direction we challenge, but the speed of travel.”

Centeno is a Harvard-trained neoliberal economist. He told the Financial Times that the new government was committed to remaining in the EU and would continue with the austerity program, only at a slower pace in order to reduce the adverse effects on employment. Centeno says that the new government has no intention of seeking debt writedowns. “Nobody with any sense thinks of not paying debts thay have contracted.”

In other words, things had to change in order to remain the same……

Soome ja euro

Soomes kisub asi rappa. Enamus poliitikutest ja ka rahvast tundub praegu olevat veel eitusfaasis. Kõrge tööpuudus ja stagneeruv majandus tõenäoliselt täiendab euroskeptikute ridu.

‘Sick man of Europe’ Finland agonises over austerity

…..A majority of Finns still support the euro. The European Commission’s Eurobarometer poll last week showed 64 percent of Finns backed the single currency, though that was down from 69 percent a year earlier.

But in a sign of mounting frustration, Paavo Vayrynen, a veteran of Sipila’s party and a European Parliament member, launched an initiative to demand a referendum over euro membership. With more than 49,000 signatures, the matter is likely to be debated in parliament next year…….

Portuguese revolt against austerity grows

Portuguese revolt against austerity grows

Portugal’s new government collapsed this week after just 11 days in office. A centre-right coalition emerged as the largest bloc after the 4 October election, but without a parliamentary majority. Since then, the Socialists, Communists and far-left Left Bloc have buried historical differences and last Tuesday managed to oust the government in a no-confidence vote. They now look set to form a government……..


….This Portuguese drama is “part of a larger process of political fragmentation” in Europe, noted Lachman. Catalonia is making noises about declaring independence from Spain, while the migrant crisis is undermining Angela Merkel’s authority.

If Spanish socialists combine with new insurgent parties to boot out the right in Spain next month, added Evans-Pritchard, the whole of southern Europe would be left-leaning. It would then have the “heft to confront Germany and push for a fundamental overhaul” of the euro bloc’s economic policy. Political risk in Europe is making a comeback.


Stiglitz: Paul Krugman Is Wrong on Negative Rates


Stiglitz: Paul Krugman Is Wrong on Negative Rates

Paul Krugman on tüüpiline neoklassik selles osas: laenatavad fondid ja õige hinna juures turg puhastub. MMT peab intressidega majanduse juhtimist parimal juhul pimedas kobamiseks.  Kusjuures vahest võib intresside alandamine tõepoolest nõudlust suurendada, aga võib ka vähendada, kui arvestada näiteks riiklikelt võlakirjadelt intressisissetulekuga, millest erasektor nüüd ilma jääb.  See on halb tööriist majanduses nõudluse juhtimiseks, MMT eelistab fiskaalpoliitikaga nõudluse juhtimist (lihtsamalt öeldes, et valitsuse defitsiidiga tuleb majanduses nõudlust juhtida).

MMT on siin  ühes paadis radikaalsete postkeinsistidega.  Praktika tundub kinnitavat MMT seisukohta, keskpanga rahatrükk tulemusi ei anna.

Adair Turner: The Case for Monetary Finance – An Essentially Political Issue

“If we use money finance of fiscal deficits it will in all circumstances that you can possibly specify increase the level of aggregate nominal demand. And that in itself by the way has an important implication. And the implication is that faced with inadequate nominal demand governments and central banks never run out of ammunition. So we should never say that we face a problem of deficient nominal demand and there is no answer to it. There will always be an answer because there is always this answer. Which means that if we end up facing a secular stagnation for demand rather than supply reasons or a lowflation or a perpetual deflation that is always a policy choice and never an unavoidable necessity.” – Adair Turner

Yes, There Is Such Thing As A Free Lunch

Kui nii lihtsalt kirjutatud artikkel jääb sulle täiesti arusaamatuks, et sa kohe mitte midagi aru ei saa, siis sa võiksid kaaluda mitte majanduse vallas sõna võtmist? Samuti üldse mitte pea murdmist majanduspoliitika üle. Ma arvan, et sellisel juhul käib majanduse üle arutlemine  sulle üle jõu.


by John T. Harvey

Yes, There Is Such Thing As A Free Lunch


With the presidential campaign season in full swing, a number of hopefuls have made a point of specifying the monetary cost of various government programs. Some have done so in the context of how they will finance their own ideas while others have used the opportunity to argue that we can’t afford to pay for the programs we already have in place. In both cases, however, they are missing a fundamental point: at the national level, money is not the issue, resources are. Furthermore, once this becomes clear, it is evident that not only can we can “afford” everything currently in place, we can do more. There is such thing as a free lunch when we have idle resources and how much money we have has absolutely no bearing on this……..

“After the war people said, ‘If you can plan for war, why can’t you plan for peace?’ When I was 17, I had a letter from the government saying, ‘Dear Mr. Benn, will you turn up when you’re 17 1/2? We’ll give you free food, free clothes, free training, free accommodation, and two shillings, ten pence a day to just kill Germans.’ People said, well, if you can have full employment to kill people, why in God’s name couldn’t you have full employment and good schools, good hospitals, good houses.”

Tony Benn

Райчо Марков's photo.

Democracy or the EU: Pick One


Democracy or the EU: Pick One

……One thing you can definitely say is this: sometime before the end of 2017, the British electorate will get to formally express their position on the UK’s part in the euro-federalist project. It will be a democratic vote on the future of British democracy. If the snubbing of the Portuguese voters doesn’t bother you, vote to remain. If however you believe that accountable government is more important than misguided utopianism, I strongly urge you vote to leave. Unless euroscepticism prevails, nation state democracy is on borrowed time.

Koppel Vikerraadios

Kuulasin täna hommikul autos Vikerraadiot ja majandusest kõneles Peeter Koppel. Siin on “must read” kõigile, kes tahavad midagi aru saada rahandusest või keskpanga rahatrükist. Kahjuks Koppel ei mõista raha endogeensust ja siis on igasugune edasine seletamine mõttetu.

Bank of England: Money creation in the modern economy

Koppelilt kõlas üsna tavapärane retoorika, Euroopa olevat midagi “ära teeninud”, “struktuursed probleemid, võla liigkõrge tase”, kuni selleni välja, et rahatrükk olevat alati inflatsiooniline ja kinnisvara hinnad olevat funktsioon likviidsusest. Muuseas Jaapanis langesid varade hinnad rahatrüki taustal, peale selle on ECB praegu kaugel oma inflatsiooni targetist. Vaevu jõuti nulli deflatsioonist.

Actually Mr Cameron, we Norwegians are happy, rich and free outside the EU David Cameron

Actually Mr Cameron, we Norwegians are happy, rich and free outside the EU

David Cameron this week said that Britain should not seek to emulate Norway by putting itself outside the European Union. In fact, Norway is happy and free outside. If anything, we would like an even looser relationship with the EU.

The opposition to EU membership in Norway is stronger than ever. The main arguments for staying out are retaining our sovereignty and the democratic deficit of the EU. Still, Norway would be even better off by replacing our current European Economic Area (EEA) agreement with a bilateral trade agreement with the EU.

At referendums in 1972 and 1994, Norwegian voters rejected EU membership. Today 70 per cent say “No” to the EU. The most important issue for No to the EU is that democratic values, nationally and locally, are best retained outside the EU.

Norway is by no means alone outside the Union, even though Brussels likes to portray itself as the centre of everything. On the contrary, most of the important international cooperation on the environment, solidarity and peace takes place outside of the EU. Our neighbours Sweden, Denmark and Finland are all EU members and have lost their place at the diplomatic table, as EU negotiates on behalf of the member states. Norway, on the other hand, is actively participating as an independent state……..

Noored euroskeptikud


A Rising Generation Of Eurosceptics

…..Millennials see these extreme parties as a fresh alternative and an opportunity for a new start. In most European countries, according to Pew, 18- to 29-year-olds are just as likely as their parents—if not more—to think that the rise of Eurosceptic parties is “a good thing” because “they raise important issues that are ignored by traditional parties.” It’s no surprise that Eurosceptic parties are energetically reaching out to young voters. The Young European Alliance for Hope, jointly sponsored by right-wing parties in France, Austria, Belgium, and Sweden, has no real cross-aisle counterpart.

This environment does not bode well for the future of the European Union. The optimism of those who once saw the EU as a pillar of peace has morphed into bleak forecasts of its disintegration. According to U.S. geostrategist George Friedman, Europeans are now “fragmenting… back to the nation-states that compose them, and back into the history they wanted to transcend.”

Attitudes toward the EU reflect a stark generational divide. For Silent Europeans, reverting to a pre-EU world would be a huge step backwards. Nationalism is a force that needs to be suppressed to prevent Europe from redescending into the horrors they recall from their youth. European Boomers share this anti-nationalist sentiment—though for them it’s more an anti-institutional sentiment…….

Noorte seas on euroskeptilisus tõusmas. EL on kaotamas oma legitiimsust, sest ei saa tööpuuduse ja majandusega hakkama. Nüüd on  tagatipuks veel rändekriis, mis on EL-i pannud keerulisse olukorda. Öelge mõned põhjused, miks peaks Poola euroga liituma? Ma pigem julgen loetu põhjal öelda, et tegemist pole niivõrd natsionalismiga kui alternatiivi otsimisega/alternatiivi puudumisega.  Syriza on alternatiiv? Või sotsiaaldemokraatlik sült Euroopas?

Tundub, et neoliberaalsed eurofiilid Poolast teerulliga üle ei sõida

Poland’s Eurosceptics win outright majority in parliament

WARSAW — The Eurosceptic Law and Justice Party (PiS) has become the first party to win an outright majority in the Polish parliament since the fall of communism in 1989, official results showed on Tuesday.

Run by Jaroslaw Kaczynski, the twin brother of Poland’s late president Lech, the PiS secured 235 seats out of 460 in the lower chamber of parliament, the Sejm, allowing it to form a government without coalition partners.

The victory marks a decisive swing towards nationalism and distrust of the European Union in the country of 38 million, suggesting there will be tensions with Warsaw’s key allies in Brussels.

The socially conservative PiS has promised to increase state control of the economy, tax banks and stop privatisation.

It also wants to lower the retirement age and boost economic growth to 5 per cent through fiscal and monetary stimulus. It rejects adoption of the euro single currency any time soon……..


USA strateeg valis “nädala vihkajaks” Ardo Hanssoni

USA strateeg valis “nädala vihkajaks” Ardo Hanssoni

…….”Ja ka nädala vihkaja tuleb Euroopast,” jätkas Zervos, samal ajal kui ekraanile kuvati Ardo Hanssoni pilt. “Uuu,” venitas ajakirjanik. “Ta näeb ju karm välja, kas pole?” küsis Zervos ajakirjanikult, viidates fotole tõsise näoga Hanssonist. Ajakirjanik nõustus. Hanssoni nädala vihkajaks valimist põhjendas Zervos sellega, et nii nagu Hansson on korduvalt varemgi rääkinud, tuli ta ka kohe pärast Draghi viimast sõnumit lagedale jutuga, et tema küll ei näe vajadust Euroopa Keskpanga täiendavateks rahapoliitilisteks meetmeteks, st majanduse stimuleerimiseks erakorraliste meetmete abil.

Zervos tsiteeris Hanssonit, kes on öelnud, et stimuleerimise meetmed pole efektiivsed, need töötavad bumerangina ja ei too loodetud tulemusi………

Vähemasti saab Hansson aru, et QE loodetud tulemusi ei anna. Hansson on “hawk” ja ta võib selle v astu olla valedel põhjustel muidugi.

The Fallout From The Greek Crisis Threatens European Democracy


by Frances Coppola


The Fallout From The Greek Crisis Threatens European Democracy

…….Those who want to believe that systematic denial of democracy in European states will eventually lead to the creation of a peaceful and democratic United States of Europe are deluding themselves. Denial of democracy cannot possibly bring about democracy. Nor can it create peace. When the Euro eventually fails – as it must – Europe will be once again plunged into chaos. And the longer the Euro takes to fail, and the more repressive the institutions dedicated to preserving it become, the more disastrous its eventual failure will be.

We should wind this monstrosity up. Now. Before it destroys us all.

Paistab, et Kreeka sündmused on paljud vasakpoolsed unistajad maa peale toonud. Coppola kirjutas ennematel aegadel, et isolatsioon ja natsionalism ei ole vastused ning Euroopa vajavat reforme. Me oleme nüüd näinud seda Euroopat ja vasakpoolsete illusioonidele vastavat Euroopat pole olemas. Coppola kirjutab, et euro peab lagunema. Ma olen nõus.

EL-st on saamas NSVL


Nigel Farage Rages At Modern Day “Brezhnev Doctrine” In Portugal’s Democracy Crisis

Nigel Farage unleashes another of his must-watch rage-fests aimed at the collapse of democracy in Europe. Amid the stunning “democracy crisis” in Portugal, where, as we detailed here, the government has lost its majority but the anti-EU opposition is being prevented from attempting to form a coalition, Farage fumes“this is the modern day implementation of the Brezhnev Doctrine. This is exactly what happened to states living inside the USSR.”

One of his best…

Transcript… (via,

This is the modern day implementation of the Brezhnev Doctrine. This is exactly what happened to states living inside the USSR . What is being made clear here with Greece and indeed with Portugal is that a country only has democratic rights if it’s in favour of the [European] project. If not, those rights are taken away.


And perhaps none of this should surprises us as Mr. Juncker has told us before: there can be no democratic choice against the European treaties.


And the German Finance Minister, Mr. Schäuble, has said: elections change nothing – there are rules.


I think for anyone that believes in democracy, Portugal should be the final straw. It should be the warning that this project, [in order to] to protect itself and all its failings, will destroy the individual rights of peoples and of nations. My country has always believed in parliamentary democracy so strongly that twice in the last century it risked everything to fight for parliamentary democracy, not just for Britain but for the rest of Europe too. And I actually believe that for all of us that believe in democracy and want to see it reimplemented, the British referendum offers a golden opportunity.

The opposition in Portugal might be socialists, but the country is effectively suspending democracy to prevent Eurosceptics with a massive electoral mandate from taking power……….

Search for alternatives to the Euro regime

Anti-imperialist camp

Search for alternatives to the Euro regime

…..9. We must act immediately, united and coordinated. With pan-European campaigns and initiatives, with a pan-European dialogue between social movements, leftist and in practice antineoliberal political forces. For popular sovereignty. For social justice and a crisis exit strategy in favour of labour and not capital. For another way of cooperation between european peoples that goes beyond the undemocratic and unpopular EU. The dissolution of the eurozone is the first step to that end.

10. To set this in motion, we propose to organize in the near future a forum of discussion in order to develop an alternative to the Euro-regime. We want to work together and coordinate our action with all forces and campaigns that want to breach with the ruling elites’ formula ‘There Is No Alternative’.


Get every new post delivered to your Inbox.