December 09, 2011
Most observers now recognize that the continuing financial crisis facing the euro zone is being deliberately extended by the European Central Bank (ECB). This is being done to force heavily indebted countries to make cuts in social spending and to weaken the power of labor unions. (Italy was required to change its labor laws as a condition of continued support from the ECB.)
The Washington Post decided to cover up the nature of the ECB’s strategy when it told readers that:
“By withholding ECB relief for weaker European governments, he is keeping pressure on political leaders to make difficult choices needed to stabilize the euro currency.”
The Post effectively defined the measures demanded by the ECB as being necessary to “stabilize the euro currency.” That would perhaps be an appropriate stance for the ECB’s public relations department. A serious newspaper should not be blessing policy decisions this way and misrepresenting a choice by the ECB as a necessity dictated by the market.
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