Wednesday, March 19, 2014

A Typical Day in Europe: Either desiring a handout or more autonomy

(My comments in italics below the news reports.)

From today's Open Europe news summary:

The Greek government reached a deal with the EU/IMF/ECB Troika yesterday, paving the way for the next disbursement of €10bn in bailout funds, which Greece hopes to secure at the informal meeting of eurozone finance ministers on 1 April. Separately, Piraeus bank yesterday issued €500m in bonds, the first Greek bank to do so since 2009.
Kathimerini Kathimerini 2 FT City AM WSJ City AM 2 Kathimerini 3 Bloomberg

This so-called "deal" for Greece to get whatever money it wanted was a foregone conclusion.  The people making this decision to give Greece more money--the equivalent of $1,206 per Greek citizen--are not spending their own money.  Ludwig von Mises explained a hundred years ago that there can be no rational economic decision making absent ownership of private property.  Which means that no one can decide whether to spend, on whom to spend, or how much to spend with other peoples' money.


From BBC News Europe:

Re: Venice votes in referendum on splitting from Rome

It seems to me that rather than Europe moving to become more united, as is the goal of the euro-elite, the average citizen wants less unity and more regional autonomy.  This referendum may not be "legal", but it certainly represents what the people of Venice really want.  The Venetians have joined the Scots, the Basque's, the Catalans, and even the Bavarians in desiring more self-determination.

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