European Union

The EU has chosen a very specific path, consistent with the ban on state deficits, it has also banned inflation. Does price stability come before the right to life itself?

Due to the economic crisis triggered by the Covid pandemic, Member States (in particular Italy and France) have been granted expansionary monetary policies on public deficit, in order to support internal demand and the production of goods and services to a minimum.

Inflation is also a little bit on the rise…what’s going on? It seems something may have gone out of control or not as expected.

Will it be just a temporary parenthesis or will the rules be revised definitively?

EU extremism in the protection of the exclusive interests of financial power is then expressed without shame in art. 127 of the TFEU where, by establishing the tasks of the ESCB (The European system of central banks), it is reiterated:

“The main objective of the European System of Central Banks, hereinafter referred to as the ESCB, is the maintenance of price stability. Without prejudice to the objective of price stability, the ESCB supports general economic policies in the Union in order to contribute to the achievement of the objectives of the Union defined in Article 3 of the Treaty on European Union “.

In essence, the law states verbatim not only that price stability comes before support for the real economy but the reference to art. 3 of the TEU ends up even putting it before peace, justice and the well-being of the peoples making up the Union.

European regulations subordinate work to finance, subordinate public interest to profit, place strong competition before solidarity, thus giving rise to a new system based on the application of the law of the strongest which in a modern key becomes the law of those who hold the financial capital or of those who have the absolute prerogative to decide the monetary flows circulating in our economies.

It is a radical revolution of those values that had triumphed in Europe only after centuries of struggles: the economic crisis mathematically triggered by these few rules becomes the instrument for imposing the cession of ever greater sovereignty to reach a new social form in which finance reigns.