2 chapters across the catalog
The signing of the EU Compact Treaty is described as the "death warrant" of European sovereignty, as it centralizes financial control in Brussels. Greece's credit rating is downgraded by Moody's to "C," the lowest possible rating, signaling an imminent default. The hosts compare the situation in Greece to the ongoing financial struggles in California.
European Fiscal Compact, ESM, and British Defiance
The "European Stability Mechanism" (ESM) and a new "fiscal compact" are introduced to enforce financial discipline across the Eurozone. The hosts explain that the term "compact" is used to bypass the need for public referendums required for treaties. Britain's refusal to join is attributed to a desire to protect the City of London and a potential US-UK tandem effort to undermine the Euro.
