The Collapsing Euro and Its Implications - LewRockwell LewRockwell.com lewrockwell.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lewrockwell.com Daily Mail and Mail on Sunday newspapers.
It is not widely realised that the EU concept is on its last legs. The bureaucratic inefficiencies and bad leadership were fully exposed last week over the inability of the EU to distribute vaccines and the attempts to blame everyone else. But a larger problem is hidden in the euro structure, comprised of banking and TARGET2 settlement systems. This article discusses the precarious financial position of the commercial banks and the gaming of the TARGET2 system by national regulators to hide bad debts. The bad debt situation is now set to deteriorate at a faster pace thanks to the economic … Continue reading →