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February 1, 2012

Just make deficits illegal

In related news, the EU powers that be are simply going to pass a law that forbids overspending:

"All European Union countries except Britain and the Czech Republic agreed Monday to sign a new treaty designed to stop overspending in the eurozone and put an end to the bloc's crippling debt crisis, while EU leaders also pledged to stimulate growth and employment.

The new treaty, known as the fiscal compact, was agreed at a summit of European leaders in Brussels on Monday."

Well, that was easy! Article at the AP.

 

More about the Troika in Greece:

The June 2011 Troika Loan Plan

"Midterm" Troika plan passes Greek Parliament - June 2011

Troika primary requirement: Reduce the size of the Greek state - Sept 2011

Questions about Troika Powers in Greece - June 2011

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