New order sees states derive legitimacy from deep structures of language, religion and institutional memory rather than universal norms
EU politics
Reuters: ECB mulls shelving rules tackling euro zone’s bad loans pile
With regard to austerity for the people, the EU wields an iron fist. When it comes to banks it will bend over backward to be obliging and generous. Read here
Economics
Bill Mitchell: Champagne socialists in the banking sector reaping millions from public money
The rate hikes now being implemented by most central banks are not just allowing the commercial banks to widen spreads between deposit and lending rates which will generate significant windfall profits for the banks and […]
EU politics
The Local de: German business warns of Brexit ‘chaos’
The EU has been lying to its citizens for two years, claiming that Brexit would destroy the British economy while leaving EU business unscathed. How that would be possible if Germany alone has a 40 […]
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