The EU’s Systemic Corruption Makes Solving the Crisis Impossible…(AmeriKa Too!!)
By: Graham Summers
Feb 05, 2013
The single most difficult aspect about analyzing market moves in Europe is the impact of the political class on just about everything.
Worldwide, politicians are not exactly famous for honesty. However, Europe is a very special case… where just about everyone is lying on just about everything involving the economy and banking system.
This notion is illustrated wonderfully by Spain’s Prime Minister Rajoy, who was recently embroiled in a scandal in which he and many of the politicians in his party were receiving illegal payments for decades via a slush fund.
Rajoy himself allegedly received roughly $34,000 per year… from 1997-2008. This doesn’t bode well in any country, least of all one that has broken down to the point that pharmacies are running out of medicine and over 50% of youth are unemployed.
Rajoy first denied all of the allegations… then this morning stated that, “I repeat what I said Saturday: everything that has been said about me and my colleagues in the party is untrue, except for some things that have been published by some media outlets.”