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The Sources of the Euro Crisis and the EU Superstate with Godfrey Bloom!

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Published on Sep 12, 2012

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Welcome to Capital Account. Germany's Constitutional Court ruled the Eurozone's permanent bailout fund, also known as the ESM, does not violate the country's laws. Reportedly, there is some ambiguity in the ruling that could beget more political wrangling. Lauren speaks with Godfrey Bloom, Member of the European Parliament and the UK Independence Party, about what motivated the court's decision and the problems that lie ahead for the European Union.

Meanwhile, the European Commission president Jose Manuel Barroso, in his State of the Union address, called for a federation of nation states (a European Superstate) and unveiled plans for the ECB to supervise all Eurozone banks. But was it the lack of a centralized banking regulations that contributed to the debt crisis or is this really about something else? We ask Godfrey Bloom if integration is really the solution to the EU's problems.

And despite attempts at integration and consolidation in the EU, there are more signs of fracture. While Spanish leaders delay decisions on seeking an ECB bond bailout, the crisis fuels the independence movement in the Spanish region of Catalonia. Could this be one of the ironies of integration?

Plus, in today's episode of "Loose Change," Lauren and Demetri discuss Apple's latest announcement: the iPhone 5. According to Reuters this gadget won't just benefit the tech world, it could boost our economy too!

Comments • 123

MaxwellBennett
whats the difference? a country is democratically governed so it is a democracy, whereas a republic is one form of government
MaxwellBennett
what about postkeynesianism
Frühlingseffekt - Ω
The crisis started in the US, there is no way how we can learn something from the US or the UK.
James Berry
Ml68 guy.They were a basket cases just like now
Frederick46M
I think, however, that our politicians and administrators should address the problem of the economic crisis with more professionality. Perhaps they should engage the services of specialists in the economic crisis, such as the Orlando Bisegna Index, which, in the US, has helped numerous counties reduce deficit problems and has brought about increased employment.
RiksFunStuff
Type in Wars, Gold and Printing Money, The Big Sub Prime Gamble, The Media is Failing the economy and Drahgi knows its over into the search bar. Theres four videos with him doing a small presentation but its fantastic if you've not seen it already. they're all 45mins long but well worth the time :).
Itsmeeman1
Fit body, annoying voice. Enter Duct tape. Ah, better.
comprehensiveboy
I don't think its a case of red sea pedestrianism being behind Mr Bloom's views but rather, as he says, the EU anti nation state drive, which is not really very popular when people are actually asked about it. The manipulation is coming from the other side.
ljwoolley1950
Good coverage.....sounds like what we are going through in the US!!!
rozpizdnick
That apple idiot pisses me off at the end. Bloom hits the spot though
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