|The June Press|
The Euro's Battle for Survival
Entering the Red Zone
by Bob Lyddon.
This pamphlet outlines the extreme difficulties the euro currency has and how its survival is the dangerous and the true cost of EU membership. Whilst keeping member countries in the dark about future costs.
Reviewer Derek Sterling
[eurofacts (Vol24 No 1) – 14th September 2018]
The upcoming and unavoidable threats to the euro and by definition the eurozone as a whole are fully exposed in this publication.
Bob Lyddon an expert in international banking explains why the euro will only survive if;
1. All member states adopt the euro
2. A single Bank Deposit Compensation Scheme
3. Unification of the euro-system into a legal person
3. Harmonisation of the forms of central bank money
5. Mutualisation of government debt.
He shows how the European Central Bank quantitative easing programme known by the name “Asset Purchase Programme” or “APP” is itself a threat to the stability of the eurozone along with the EU Fiscal Stability Treaty requirements. To this we have to add the threat of interest rate rises which could push the eurozone into further decline.
In a clear and concise way he shows how dangerously balanced the financial dealing within the banking sector of the eurozone members are. For those with an enquiring mind in the glossary many of the acronyms used by the EU are explained.
Lyddon concludes his interesting analysis of the dangers inherent in the eurozone by rightly pointing out that the EU and the Euro must inevitably become the same thing: that was the objective all along. The condition of the Euro in the Red Zone will offer the supporters of a European superstate to enforce a going forward: they cannot countenance a going back.
Should the UK fail to get a proper full exit from the EU (and all its upcoming financial problems) the UK economy will also suffer greatly.
The level of current Brexit negotiations could well result in the UK tying itself to a form of Customs Union and liabilities for future financial support for the EU and by extension any losses in the eurozone.
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