- Emphasis mine:
- The Euro is Over; The Austerity Rejected, What about the U.S.?
“You notice that there was a collapse in the European system, that is the Central and Western European system. This is a fundamental change.”
May 25th Policy Committee Show
Continuing reports indicate that the bankrupt euro is going down, and Greece is not the cause, although Greek default may be the trigger. The increasing panic over the looming Greek default, on the part of certain figures in the German and French government—and on the part of the Obama White House,—simply represents that they know the euro system is coming down. They cannot postpone the inevitable any longer. Greece simply means that Wall Street and London’s years of stalling, on writing off worthless debts on their books, is over. “Markets are illiquid!” they wail. No: Banking systems are insolvent. The euro collapse is all over Europe. A Greek website, DefenseNet, adds the punch yesterday, that $26.5 trillion in exchange-rate derivatives will blow out along with the euro.
Back on Feb. 18, EIR Founding Editor Lyndon LaRouche issued an international statement on what he called the “Greek debt swindle,” strongly supporting the position of the new Greek government. The statement showed that the 2012 “Greek bailout,” falsely so-called, had been the last great bailout of the London and euro-system banks.
“Looting does not constitute legitimate debt,” LaRouche said then.
“The debt is illegal, it is unpayable, and it is the fruit of a London-led criminal enterprise that must be shut down altogether, if the world is to survive the coming months without an eruption of general war in the center of Europe. This has to be put loud and clear on every doorstep in the United States. If you want to avoid World War III, that’s what you’ll do.”
LaRouche’s estimate is being confirmed, in action, right now.
In elections this weekend, two more European populations—Poland and Spain—rejected the deadly austerity policy of Wall Street and London, which has been imposed on them with the aid of the current corrupted German and French governments.