Thursday, November 12, 2015

EU unofficially becomes a political union after threatening to cut off funds to Portugal

Earlier this year, the European Union’s economic arm fought tooth and nail with Greece over their massive amounts of sovereign debt that hung in the balance between default, and restructure.  In the end, the Troika won out over the Syriza government, and money began to flow back in only after austerity measures were increased against the Greek people.
And a little less than six months later, the EU is once again attempting to use their power on a sovereign country to force not only monetary policies on the people of Portugal, but perhaps now a political one as well as on Nov. 10, the European Central Bank threatened to turn off the Euro spigot to the Southern European country for their temerity in voting out an EU friendly government and replacing it with a Marxist one.

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