'The Euro is a suicide pact' Economist Prof. Steve Keen on Brexit & European Central Bank ending QE

[The Lawspeaker]

The Euro: 'a suicide pact' Professor Steve Keen author of 'Debunking Economics'. ECB stopping QE – European Banking collapse starting next crash, THEN Draghi is forced to restart QE... BBC News ECB ends €2.5tn eurozone QE stimulus programme - Frankfurt based ECB seeding Euro crash to coincide with #Brexit? https://politicsthisweek.wordpress.co... http://www.thisweek.org.uk - 21 Dec 2018 Steve Keen has recently established a Patreon site https://www.patreon.com/ProfSteveKeen, where people can support his research and advocacy work with donations starting at $1/month. That is now where I will engage in conversation in response to posts. So if anyone here wants to continue a dialogue with me and others, please sign up there. Private debt is weighing down the economy Steve Keen is a professor of economics at Kingston University, London. The EU’s policymakers like to obsess about government debt, but the 2008 crisis was caused by something they ignore: private debt. Credit of as much as 40 percent of GDP per year fueled Spain’s housing bubble, for example, and drove private debt to 260 percent of GDP, more than four times the Maastricht Treaty limit on government debt. Spain’s private debt is still 200 percent of GDP, and is a millstone around any recovery. France and Italy carry similar burdens. EU attempts to reduce government debt could trigger a return to private sector de-leveraging and cause another slump: not as bad as 2008, but still debilitating. Europe has “turned Japanese” and doesn’t know it. https://www.politico.eu/article/here-...

[Phenix]

The kingmaker of France congratulates himself and his band not writing a withdrawal article of Maastricht treaty acknowledging it was not democratic.