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Happy 2013! Innocence is bliss.
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The EU governments have shied away from any resolute action on the banks involved in the dodgy lending in the first place during the financial bubble years. Those banks remain the source of the problem. There is no lending going on to the real economy, and that`s the root cause of the 25 per cent unemployment in Spain and Greece and elsewhere across the EU. Until that problem with the banks is addressed, we’re not going to see economic recovery. To treat it only as a sovereign debt crisis is grabbing the tale of the elephant and calling it a snake. (F. William Engdahl, Germany Enforces Same Austerity that Paved Way to 3rd Reich, October 30, 2012.)With the recent images of the brutal Spanish police state in mind we have to wonder if following the corrupt banking industry diktats is a very ruinous ride on the highway to totalitarianism."