The responsibility for the crisis cannot be attributed to Berlin and Brussels. National governments are accomplices of austerity policies. Meanwhile, the economic crisis is corroding the democratic foundations of member states.
It seems that around two thousand projects have been presented, amounting to 1,300 billions. But, at the origin, the available resources of the plan amount, at best, to 21 billions.
The role of Saudi Arabia, he main OPEC oil exporter, in leading the low price strategy. Lowering the oil price helps the friendly countries, and hits the Saudi competitors.
The most disturbing aspect is the stubborn persistence of policies that have already proven their failure. The Japan's shock move, and the appeal to the ECB.
