afloweroutofstone:cathkaesque:mapsontheweb:EU budget givers vs receivers. Not pictured: the contribu
afloweroutofstone:cathkaesque:mapsontheweb:EU budget givers vs receivers. Not pictured: the contribution of Eastern European and Balkan workers in Germany’s outsourced supply chains to Germany’s economic growth and how only 5% of Greek bailout money ever made it to the Greek treasury, with the rest circulating back to the European banks that owned the debt. Also the entire German economy is designed to produce this sort of outcome: they repress wage growth in order to keep their exports competitive and run permanent trade surpluses. Smaller EU economies are unable to adjust to this by devaluing their currency because they’re using the exact same currency as Germany, so they’re forced into a position of structural trade deficits. This leaves German public finances in a better position to continue upholding the EU. Read “Trade Wars are Class Wars” for more on this. Kinek mit intézett a saját kormánya, ugye. -- source link
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