The Fairy-tale of the End of the Financial Crisis
by David Stein, June 1, 2017
Between 2008 and 2010, the EU Commission approved state aid of 4.3 trillion euros. The potential crisis of the global economy has grown and not declined. A system crash was prevented by the concerted actions of central banks and states. However only time was gained. We face a new thrust of the massive volatility of the financial markets.
The challenge of the left is to free the state treasury from captivity as a hostage of the banks. The financial institutes must be regulated as causal agents of the crisis and saddled with the bill.