These two 05/15/2012 reports are from Visión Siete (TV Público Argentina).
Hollande asumió en Francia:
La crisis en Europa:
Economist Jorge Beinstein in the latter video calls the current crisis a "failure of the construction of the European Union." This is an important reminder. The panicky finance ministers are treating an exit of Greece from the euro - known to the Kool Kidz as the "Grexit" - as a discrete, containable financial event.
There will be plenty of analysis this year of the failures of the EU and the euro. One thing we should keep in mind that American policy under the Clinton Administration and the Cheney-Bush Administration was to encourage a rapid expansion of the EU as a way to keep it a weak union.
And in Realist power terms, it was a successful policy. Current US foreign policy is based on global dominance, which requires preventing the emergence of peer competitors. The EU prior to the Chancellorship of Angela Merkel looked like a potential future peer competitor to the US in world power and influence. Angie has wrecked that likelihood for any foreseeable future, if not quite yet destroyed it completely.
It's a dubious victory for American foreign policy.
Tags: austerity economics, españa,
eu, euro, european union, france, françois hollande, greece
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