S2 Ep40. The Crisis of our Times. Part 14. The European Union: Between a Rock and a Hard Place. Part C

The EU engaged in a exaggerated expansion of its membership. It now creates vast debts in an attempt to bail out States, banks, and even economies. It seems a titanic enterprise. Umm, titanic? The very word strikes an ominous chord in trauma memory. Back in 1912 it was asked how the Titanic, the largest passenger ship of its day, could be sunk by an iceberg. Monetary policy, with its exploding debts and money creations, could well be the iceberg that sinks the European Union. The general problems of the EU, both external and internal are covered.   The monetary policies of the ECB since the 2008 crash are presented as a series of errors; These policies are desperate attempts to cover up the depths of the crisis and have led the Eurozone on the path of ruin. Only by understanding these polices as defensive and desperate manoeuvres of dubious legality, will one see the seriousness of the situation the EU is facing. And finally the latest stages of capitalism with respect to the balance between free markets and the State are examined.