The eurozone bailouts are, in essence, another transfer of wealth from the poor to the rich. As this blog never tires of pointing out, the bailout money isn’t going to the people of Greece, Ireland or Portugal; it is going to bankers and bondholders who made bad investments.
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Lefties are wrong about a lot of things. Their refusal to understand that excessive spending and borrowing were the cause of this crisis, and won’t be its solution, is almost heroic in its mulishness. But they are absolutely right about one thing: the policies being pursued by EU leaders are indeed a form of class war against working people, in effect if not intention.
Friday, June 24, 2011
Left and Right converge on Greek crisis
Daniel Hannan notices When it comes to the bailouts, the hard Left is dead right: