The Green program cannot solve anything as all funds including debt repayments must be borrowed. In Europe, the source for euro-denominated loans is German and French banks.
No matter which direction the streams of funds wish to flow the source is the same German and French banks, everyone else is an intermediary (rentier): ECB, IMF, ISM, etc. The only way to reduce debt in one area is to increase it elsewhere.
At bottom the debts will be repudiated and everyone in Europe will suffer. The cost will be measured in the depth of Europe’s ruin. Keep in mind, there is no more growth, the means to recover after calamities does not exist. Europeans must be careful, to look past the numbers offered by bankers and politicians and decide for themselves what matters: fake Las Vegas-style ‘prosperity’, money-wealth and wasteful lifestyles or some alternative way of existence that does not require energy imports … financed with tens (or hundreds) of trillions of borrowed euros. The problem in Europe and elsewhere is not the pensioners or even governments but hulks at the end of the continent’s driveways.
The Europeans have a choice, they can either live in Tuscany or they can live Syria. Drive a car = borrow money = Syria.
Sorry, the comment form is closed at this time.