TRNN Debate on Austerity and the Eurozone

Paulo Manasse and Mark Weisbrot debate the Euro crisis, post Berlusconi and Papandreou

Category:

News & Politics

Tags:

• Debate
• Euro
• Eurozone
• money
• crisis
• euro
• Italy
• Greece
• Germany
• Europe
• England

[effentjes]

Paul, what happened. You look all tan in this video. Got a sunburn ??

[DonVoghano]

The provincialism of the Italian intelligentsia is shocking. Berlusconi has so polarized the political discussion in our country that the left is utterly unable to critically understand the big picture, insisting that in order to "cure" Italy one simply has to get rid of the "Berlusconi anomaly" and align oneself to Anglo-American policies. Consider that Bologna is THE stronghold of the left in Italy: if this is our "alternative" imagine the others. Italy is doomed.

[dharmaatdawn]

@DonVoghano I agree with you. theres no strong left in the "developed" world. But hey, look on the bright side. U get to enjoy Berlusconi's singing now. bhahahahhah he just released album for the holidays. :)

[DonVoghano]

@dharmaatdawn I agree. Sadly much of Europe is in a similar position - as are the US - considering that the last vestige of something resembling a progressive "left" was FDR, and everyone since has been technically indistinguishible from a fascist...

[dharmaatdawn]

@DonVoghano hahahah powerful"left" in Italy is nonexistant. lots of them were killed during WW2. even the mafia was 'created" to eliminate anti-fascists. so its your choice Right wing or technocrats.

[restlys]

I think they are BOTH missing the point.....greece's share of the euro as a main currency with the rest of europe is what is driving everyone crazy. If greece could print its own money it would do like the FED and deal with the problem, the problem with the present course of action is that its going to drive down the value of the Euro for everyone using it. Greece's government is not working well enough to implement any serious plan. So no matter which side your with, your doomed to fail.

[sirellyn]

@iknownothingnow You are mostly correct, except that austerity, that is cutting spending enough to be equal or less than income, is necessary.

Either way, current debted countries will default, be it from inflation if they print their own money, or by no more money remaining in the banks. (Bailing out the banks to loan you money is also printing money)

Any way you look at it, countries can't spend more than they earn.

[balbahut0g]

@effentjes he got Snookied

[iknownothingnow]

The banks created the global economic crises. Then they got bailed out. Then worked with politicians forcing austerity upon the citizens having nothing to do with these crimes. Then in a coup, they replaced government leaders and ensured that citizens would not be allowed to vote for elected officials or the punishment that they will get.

Revealed to those awake: these bankers & politicians supporting them are psychopathic sadists gleefully enjoying the boot licks from the citizen slaves.

[RedGaribaldi]

Why are they going for Italy? Well, partly because Italy has 2,451.8 tonnes of gold reserves, worth approximately $147 billion.