from Western Journalism:
Did you know that the President of the European Commission, Jean-Claude Juncker, is a magician? He has just released a plan to turn $21 billion into $315 billion. This money is supposed to “show that Europe is back in business” and stimulate economic growth in the southern, periphery regions of the EU.
And how is he going to do this? He is going to use his book of spells, of course, and presto! Europe is rich!
No, not really. What he plans to do is leverage the money up to fifteen times. Yes, the continent that is up to its eyeballs in sovereign debt and is strangling economic growth, is going to lever up fifteen times. In other words, they are going to solve their debt problem with – guess what – more debt!
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