The EU benefits the few
Friday, 18th October 2019

• HAVING read Doug Crawford’s letter (Make Brexit for the many not the few, October 10) I would humbly suggest that he consider who really bring benefits to the “billionaire elites”.
I suggest the European Central Bank. It was the European debt crisis of 2009 that gave the ECB the opportunity to unleash elevated levels of unemployment, austerity and low growth.
Their solution to the misery it caused is negative interest rates and quantitative easing. So bad is the situation that German banks are passing on negative rates to account holders and people are far from happy about it.
Imagine a country of thrifty savers being charged to save their own money. The only ones to benefit are those with property, shares, gold, bitcoin namely a billionaire elite.
I challenge Lib Dems or Islington in Europe to find any benefit in or justification for the euro and if they cannot what is the point of the EU?
Meanwhile Ursula von der Leyen is having a bit of trouble with MEPs rejecting nominees to the EU Commission. Seems there is the whiff of dodgy dealings.
At the same time the European Union, having gifted six billion euros of your money to Turkey to build a wall to keep Syrians from crossing the border, protest the removal of the wall to allow passage of Turkish troops into Northern Syria.
The response from Recep Erdogan seems to be “mind your own business if you know what’s good for you”.
There’s the EU for you an ersatz currency benefiting the few but not the many, corruption on the inside and despised as a weakling by outsiders.
STEPHEN SOUTHAM
Mildmay Grove North, N1