LaRouche Warns Europe: Don’t Make the U.S. Mistake; High-Gain Creditors like Santander Have to Take the Hit

February 10, 2010 (LPAC)—On the eve of the EU Summit, LaRouche warns Europe: don't make the U.S. mistake of bailing out Wall Street; the high-gain creditors like Banco Santander have to take the hit.

With the European Union scheduled to hold an urgent summit on Feb. 11 to address the financial crisis sweeping the entire eurozone, the world’s leading economist Lyndon LaRouche today warned European leaders: “Do not make the mistake that the US made in bailing out Wall Street. If you do that in Europe, you are going to sink Europe, because Europe is more vulnerable than the U.S. It is the high-gain creditors, like the London-run Spanish Banco Santander, that are going to have to take the main burden of the hit. Anything else would just reproduce in Europe a far worse form of the crisis we’ve experienced in the U.S.”

In the lead-up to the Brussels EU summit, prominent voices have gone public with open calls for dictatorship and “empire”—exactly as LaRouche warned would occur under British sponsorship. According to the London Independent, EU President Herman Van Rompuy has sent a letter to summit participants, with secret annexes demanding that all member nations, not just crisis-wracked Greece, be put under supra-national EU receivership. The Independent quotes an EU source saying bluntly: “What we need is the same kind of mechanism that we have now imposed on Greece in order to monitor and survey euro-zone countries. So the idea is to put all European economies under surveillance. You can expect some important decisions to be taken this week” at the EU summit.

 More: http://www.larouchepac.com/node/13506 

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