A Christmas bonus for European financial elite—austerity for the masses
Un joyeux Noël pour les banques qui s’offrent un open bar sur note dos !
►http://www.wsws.org/articles/2011/dec2011/euro-d23.shtml
What is notable about the decision of the ECB, however, is that not a cent of its latest loans goes toward bailing out endangered European economies. Instead, the entire sum has been awarded to the banks and will benefit only those major bank stockholders, hedge fund managers and finance speculators whose criminal activities have wreaked so much havoc with European economies in the first place. The ECB loans will strengthen the hand of the very same financial elite that is demanding the implementation of drastic austerity measures across Europe.