Growing opposition in EU: Syriza in Greece & Podemos in Spain. Denmark cuts negative interest rates
- By : JanssenReportHost
- Category : Society
Today on The Janssen Report (#92): both easy money policy (QE) and austerity measures are causing quite a turbulence in Europe.
On the one hand we are seeing the strong debasement (weakening) of the Euro leading to Switzerland being forced to unpeg the Swiss Franc from the Euro. Denmark is currently having trouble maintaining their peg of the Crown (Danish Kroner) to the Euro and is cutting the interest rate to below zero. These policies partly trickle down to the real economy: just recently a Danish bank started charging a negative interest on a mortgage (imagine receiving an interest on your mortgage instead of having to pay one!).
On the other hand we are seeing Eurozone countries resisting the severe austerity measures imposed upon them by the EU. In Greece this has led to the rise to power of Syriza and in Spain we are seeing Podemos opposing the austerity forces of the EU.
I am observing an increase in opposition against ‘the system’, such as the End the Fed movement in Germany and ‘Break The System’ in the Netherlands (although still very small).
Watch this episode of The Janssen Report here:
Are we seeing a bit of awakening going on here?
Sources:
- Bloomberg on Denmark: http://www.bloombergview.com/articles/2015-02-01/guess-who-the-next-casualty-of-the-currency-wars-is-
- Danish National Bank on halting bond issuance: http://www.nationalbanken.dk/en/pressroom/Pages/2015/01/DNN201521749.aspx
- ZeroHedge on danish bank charging negative interest on mortgage: http://www.zerohedge.com/news/2015-01-30/denmark-you-are-now-paid-take-out-mortgage
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Cheers!
Marco Janssen