Monday, March 26, 2012 by Real News Network
Gerry Epstein: In Europe and the US, bankers take control of the political process
In September 2011, at a time when the sovereign debt raiders, as some people call them, were focusing on Italy as their next target, the European Central Bank sent a letter—supposed to be secret, but it was leaked. And in this letter it gave very direct instructions, you could say, to then prime minister Berlusconi about privatization, lowering pensions, changing hiring and firing, regulations and laws—all things one would think should be the outcome of the political process within Italy. So what is this about banks telling countries how to govern themselves? [...] Gerry Epstein is the codirector of the PERI institute in Amherst, Massachusetts, but today he joins [RNN] from New York.
Gerry Epstein: In Europe and the US, bankers take control of the political process
In September 2011, at a time when the sovereign debt raiders, as some people call them, were focusing on Italy as their next target, the European Central Bank sent a letter—supposed to be secret, but it was leaked. And in this letter it gave very direct instructions, you could say, to then prime minister Berlusconi about privatization, lowering pensions, changing hiring and firing, regulations and laws—all things one would think should be the outcome of the political process within Italy. So what is this about banks telling countries how to govern themselves? [...] Gerry Epstein is the codirector of the PERI institute in Amherst, Massachusetts, but today he joins [RNN] from New York.
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