Here, writing in the Huffington Post is
The ambassador then goes on to write this:
It is not the first time that the collapse of the EU is considered as “just around the corner” during its history. Such was the case with the
, or so-called “Constitutional” Treaty, which ultimately approved and implemented, despite predictions to the contrary. Who can forget the front-page headlines of the time, carried by the majority of prestigious media, heralding “Europe’s final days”, “EU system collapses” and “ Lisbon Europeis dead”?
The implication of that paragraph is that both sets of predictions reflect the activities of wicked folk opposed to an ever closer European Union. The pattern is, Kaskarelis clearly wants you to think, proof of the plot that he is not alleging exists.
What the ambassador doesn’t say is that the loudest voices predicting that the EU would collapse if the Lisbon Treaty failed to pass tended to come from those who supported the treaty. Most euroskeptics believed the EU could manage perfectly well without it.
Later on, Kaskarelis writes this:
[L]et’s also look at the bigger picture. Given that
Greece’s economy barely represents 2.4% of the European economy, while the country itself is no larger than the state of , it behooves us to address the elephant in the room, none other than the lack of market regulation and its unprecedented greed. Alabama
It has been said repeatedly by respectable economists and published by major newspapers, more recently in the New York Times editorial titled “Greece and You,” that “it was derivatives that were behind “the near meltdown . . . in the global financial system”. It was indeed the relatively new financial instruments, derivatives, CDS, CDOs that created the 2008
economic crisis and its global implications. Yet, three years later, no one has dared take on those who seek quick and short term profit, betting on the destabilization of the European Union and ultimately on the global economy. U.S.
Perhaps the time has come for us to grab this beast by the horns and tame it, before we lose total control and the entire global economic system collapses.
Talk about changing the subject. We could debate forever the extent to which inadequate regulation of new financial instruments “created” the 2008 crisis. It’s a fascinating debate and it’s a worthwhile debate, but it doesn’t have much to do with
And so, Mr. Ambassador, if you want to start talking about the problems caused by ”new financial instruments” why not start with the euro?