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June 30th, 2012 
FAKE NEWS for the Zionist agenda Press TV has interviewed Ian Williams, senior analyst with Foreign Policy in Focus from London about the French national debt position and the deadly condition attached to bailouts, particularly the central control of the budget of the indebted European States. What follows is an approximate transcript of the interview.
Press TV: One reason cited here for the problems that France is now facing is it’s contributions to the Euro Zone bailout. So basically do you think that France or other countries in the Euro Zone can afford even further bailouts?
Williams: Well, they can, except they keep braking the rules to make it more difficult for themselves.
One of the key points here is that this gives central control over the budgets of the various countries. And as we’ve seen that means essentially giving to the Germans control over other people’s budgets and we’ve seen the extremely disastrous results of that already in Greece where in the name of fiscal rectitude, they have basically cut the economy off at the legs.
That’s the real worry about this. Yes, it’s a welcome short term respite, but in the longer term the idea that the German-style austerity is going to be forced on countries, some of which might need some austerity, but that’s at the cost of a stimulus package to actually get their economies moving again.
… Because in the end, the cause of the fiscal crisis is the fact that the economy of these countries are strapped and aren’t producing enough tax revenue. So, the real answer is to get these economies moving and boost the revenue, which is what Bill Clinton did in the US when he reduced the deficit.
Press TV: Well, right now they’re speaking of tax increase and a spending freeze in France. A lot of people in France did vote for Francois Hollande in the first place because they were looking for a different option when it comes to tackling the economic crisis basically.
With this tax increase, with these spending cuts that we’re also seeing across other European States do you think that this could actually lead to public discontent and that practically it’s going to in the long run affect the economy of these countries?
Williams: Well, I think it’s going to, but Hollande has only just taken office and on the positive side Angela Merkel said last week that she… (was against common Euro Zone bonds), “not in her lifetime” she said, but she’s already done a u-turn on that so where there is one u-turn there may well be others in the future we hope.
Press TV: So basically, do you think this is going to be threatening the existence of the Euro Zone as a whole? A lot of people are saying what the solution is basically right now, is for the Euro Zone to break up and for the Euro not to be the single currency. Although this is going to happen in the long run, these are just talks and the measures are just delaying tactics – Is that what you think?
Williams: I think the idea of the Euro and the Euro Zone still has legs. A lot of people who find the convenience, the increased trade, of having a single currency are on balance very useful for a lot of people.
The problem is the conditions, which come with it and if you can have the Euro without German central bankers imposing their hundred year old prejudices on the economies, then it could be more successful.
Instead of tinkering the way that they are doing now and reacting to various crises, it would be much more productive if they sat down and rethought the whole enterprise and re-jigged it so that they could take account of the lessons of the last decade, particularly the last few years in what happens in a single economic system.
SC/PKH
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