‘Euro Heading to a Break-up’; Brits want to ‘Self-Regulate’

City of London mouthpiece Ambrose Evans Pritchard writes in today’s Daily Telegraph that the results of the European Elections clearly point to a breakup of the Eurozone. As for Great Britain he says it is heading for a new relationship with the European Union.

He writes: “European leaders must henceforth calculate that the British people will vote to leave the EU altogether unless offered an entirely new dispensation: tariff-free access to the single market along lines already enjoyed by Turkey or Tunisia; and deliverance from half the Acquis Communautaire, that 170,000-page edifice of directives and regulations that drains away sovereignty.” While he says the fanatics want a clean break, more sober minds know that “the EU’s global credibility would be shattered if one of its largest states – and twin-leader in projecting military power – were to walk away in disgust…” So he sees a ” Holy Roman Empire solution” for Britain and the EU.

As for the Euro, the issue is the “Séisme” or earthquake in France with Front National’s devastating win. He claims he asked the leader of that party, Marine Le Pen, what would be the first thing she would do if she became President, to which she replied “instruct the French Treasury to draft plans for the immediate restoration of the franc, that great symbol of emancipation from the English occupation (franc des Anglais).” If an orderly dismantling of the Eurozone is not implemented, “The euro blocks all economic decisions. France is not a country that can accept tutelage from Brussels. We have succumbed to a spirit of slavery,” she said.

After detailing the anti euro wins in Spain, Greece, Denmark, etc, he writes that the “Fiscal Compact” has set in motion a doomsday machine and the fact that the ECB now has to go to negative interest rates, demonstrates that “something is badly wrong”. Besides it will not work. He concludes the Eurozone is on the way to a breakup.

The City and the Royals Gather to Pronounce ‘Self-Regulation’

It was, as Pam Martens’ “Wall Street on Parade” put it, downright laughable to see the trans-Atlantic world’s very most wealthy “luminaries,” the upper one percent of the upper one percent, gather in London — where condominiums sell for tens of millions of dollars — to lament “capitalism’s inequality and lack of inclusion,” under the leadership of Lady Lynn Forester de Rothschild and Prince Charles, who “lives in four castles” and lectured on sustainability. Imagine enjoying $300-a-bottle champagne while listening to IMF Managing Director Christine Lagarde and Bank of England Chairman (and Financial Stability Board head) Mark Carney issue blistering reproaches against … the misbehaviour of the too-big-to-fail banks! This was the London “Inclusive Capitalism” conference, and its website boasted that the 200 attendees inclusively controlled (or managed) $30 trillion, 30% of all the “wealth” in the world.

But not entirely laughable. The City and the Royals came publicly together for a political statement — extremely rare in itself — based on the statement on “Inclusive Capitalism’s” two-year-old website: “To avoid heavy-handed government interference in the banking sector, a revolution in management, supervision and ethics is required.”

Let us have no Glass-Steagall Acts, then, we will regulate ourselves. Just listen to how we, the very masters of the empire, are rebuking and controlling ourselves. The very assurance used to suppress Congress and regulators for years by Alan Greenspan, the Fed chairman who eliminated the Glass-Steagall Act (and who was not, apparently, any longer of use for this particular gala).

Making the purpose crystal clear, the conference was held at Mansion House, the official residence for the ancient “government” of the City of London banks, and was hosted by the Lord Mayor of the City of London, Fiona Wolfe, whose quiet, very powerful office dates to the 12th Century.

Keynote speakers, besides Lagarde and Carney, included Lawrence Summers, ITUC President Michael Sommer, and Bill Clinton (Lady de Rothschild raised considerable money for Hillary’s campaign, and called back a favor). But pictured on the program above them all, the lead speaker, breaking from what commentators like to imagine is “royal protocol,” was Prince Charles. Charles brought the British royals’ genocidal Green agenda to the conference, and it was given the primary play. His message was that “capitalism” must undergo a thorough “Green revolution” or it will be destroyed; it must push aside the leaders who continue to ridicule human species-caused climate change; and it must take actions which will make its leaders extremely “unpopular” with the public.

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