SOME EU ECONOMIC NEWS AND CONCERNS+

BBC News - Brussels plans EU-wide banking union from 2013 http://bbc.in/LhyTsf -

"A single regulator to oversee banks across all 27 European Union states could be in place as early as 2013 according to the European Commission.

A controversial new bank bailout fund financed by a tax on financial institutions is also planned.
The proposal includes an EU-wide deposit guarantee scheme to protect savers in the event of a bank collapse."
The above seems to be a great way to consolidate economic power in the hands of the few oligarchs who already call most of the shots in the world. This New World Economic Order comes on the heels of a disaster that it created, perhaps for this very purpose.



BBC News - Spain and Italy borrowing costs rise http://www.bbc.co.uk/news/business-18405729

BBC News - India's industrial output grows less than forecast http://www.bbc.co.uk/news/business-18406544

BBC News - UK manufacturing output in surprise April fall http://www.bbc.co.uk/news/business-18407134

BBC News - Eurozone: No safe haven http://www.bbc.co.uk/news/business-your-money-18292739

MARKET ACCOUNTABILITY: THE NEW EVIL

The Eu nations, with a few exceptions, God Save the Queen, have sacrificed sovereignty in order to achieve "Market Accountability." No more are we talking about accountability to people. Rather, the 'market' (Wall Street), is now the dictator of public policy. To give the 'market' veto authority over nation's budgets is the that this way comes. Why does no one see this and call it what it is? At least the Brits were not beguiled by the power of money-perhaps for the wrong reasons, but they had the courage to say NO.

Wherever you turn, governments are cowering to the 'market.' It is all about what is best for the investors, the people be damned. In Greece, according to the BBC, the plight of the people is so bad that they are killing their pets because they can't afford to keep them. For what, so some banker in NY can buy more bobbles and bangles? People's lives are being ruined, jobs lost, homes taken, pensions decimated, health care unfunded; all to ensure there is Market Accountability.