Debt union (debt alliance)

A derisive term for the eurozone that emerged after 2010 alongside the term debt club. Measures such as bailout funds, euro bonds, banking union or purchases of government bonds by the ECB, which are hardly permissible under its statutes, are believed to be a means of getting a grip on the high levels of government debt in some countries. In the latter, no special economic knowledge is required to clearly recognize that the constant expansion of community liability cannot change the causes of high debt levels – namely, protracted action to adapt to the constantly changing economic and social conditions. On the contrary, the aversion to restructuring that initially involves cuts is growing, and the reform backlog continues to pile up. Too often, the main pillar of EMU is forgotten, namely that each member is liable for the consequences of failed economic and social policies. – See fear, perverse, bail-out, blame game, deficit-financing ban, European Monetary Union, fundamental error, ECB sin, money multiplication, monetary union-internal, default, policy clamp, policy default, rescue Europeans, rescue routine, risk taker, final, shadow state, debt-debt recipe, debt-cutting, debt-repayment pact, european, solidarity, financial, stabilization mechanism, european, stability and growth pact, fundamental error, southern front, constitutional article one, wealth levy, debt-productivity-linkage, treaty fidelity, growth-debt-fact, historical, forced expropriation.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
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https://www.gerhardmerk.de/