The Guy Who Predicted the Eurozone Crisis 17 Years Ago

Bernard Connolly, former economist for the European Commission and author of the book, The Rotten Heart of Europe: The Dirty War for Europe’s Money, explains that the European Union was doomed from the start. In fact he said so over a decade and a half ago in the book, and was then fired in a very ugly and public way by the Commission for saying it. No one likes the wet blanket I suppose.

(From The Wall Street Journal)

As far as Mr. Connolly is concerned, Europe’s heart is still rotting away.

The European political class, he says, believes that the crisis “hit its high point” last summer, “because that was when there was an imminent danger, from their point of view, that their wonderful dream would disappear.” But from the perspective “of real live people, and families and firms and economies,” he says, the situation “is just getting worse and worse.” Last week, the EU reported that the euro-zone economy shrank by 0.9% in the fourth quarter of 2012. For the full year, gross domestic product fell 0.5% in the euro zone.

Click here for the article.

4 comments
Paul Kosakowski
Paul Kosakowski

I just had a liberal essentially tell me that those who foresaw the collapse in the US before it occured were 'filtering evidence' to support their view. He argument was to paraphrase; 'you had this neat theory and then it happened and you used that to justify your argument'. He then went on to correct me with an argument that was factually incorrect and in complete denial of the role of governments. So these problems are not likely to be resolved until we manage to educate a whole lot of people on how to properly identify potential problems.

Ioannis Kast
Ioannis Kast

Just another paper currecy going up in flames

Matt Malesky
Matt Malesky

There were a lot of people who predicted it.