Olivier Perrin – The Brave Little Economist (Switzerland) –
They did not talk about it, the journalists did not mention it. TVs and radios repeated the same messages in a loop.
Here are 10 facts that are likely to have far more weight than anything they told yesterday about TF1:
- 7 Nobel Prize winners have spoken out against the Euro: the Euro does not work; 
- The Euro makes it poorer: more taxes, less purchasing power, less savings ;
- The Euro only benefits the hyper-rich ;
- The Euro is too weak to sustain a new crisis ;
- The next global crisis will come from Europe according to Alan Greenspan, former governor of the US Federal Reserve ;
- The European Central Bank and the Banque de France bought out more debt than France borrowed: the debt became a closed circuit. The State issues, the bank buys and returns its profits to the State. Historically, it is the terminal stage before the destruction of money;
- Without growth, the debt is not repaid: The government and the community budget should be reduced by 20 to 25% without a new expenditure and for almost a hundred years to repay the debt. The Boston Consulting Group calculated that Western countries were experiencing significant social unrest as soon as budget cuts reached 3%.
- There is no growth in Europe.
- The ECB has to print 5 new euros so that it will exchange one more: In 2016 for the Euro zone created 180 billion euros of growth, the ECB had to inject 960 billion euros into the economy.
- The growth rates predicted by the candidates are neither possible nor desirable: the population in the West ages its aspirations and needs are no longer the same.