{"id":26128,"date":"2024-05-10T21:42:52","date_gmt":"2024-05-10T19:42:52","guid":{"rendered":"https:\/\/michelsanti.fr\/?p=26128"},"modified":"2024-05-10T21:42:52","modified_gmt":"2024-05-10T19:42:52","slug":"europe-the-eternal-indecisive","status":"publish","type":"post","link":"https:\/\/michelsanti.fr\/en\/debts-reduction\/europe-the-eternal-indecisive","title":{"rendered":"Europe, the eternal indecisive"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-26124\" src=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/05\/GNPYFEbWUAAK9YT.png?resize=889%2C616&#038;ssl=1\" alt=\"\" width=\"889\" height=\"616\" srcset=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/05\/GNPYFEbWUAAK9YT.png?w=889&amp;ssl=1 889w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/05\/GNPYFEbWUAAK9YT.png?resize=300%2C208&amp;ssl=1 300w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/05\/GNPYFEbWUAAK9YT.png?resize=768%2C532&amp;ssl=1 768w\" sizes=\"(max-width: 889px) 100vw, 889px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>The interests only on their public debt has cost the United States more than $1 trillion in the past 12 months, and these amounts are condemned to increase due to the maintenance, for some time still, of the current level of interest rates.<\/p>\n<p>But it doesn&#8217;t matter: they have the <span style=\"color: #008000;\"><strong>King $<\/strong><\/span>.<\/p>\n<p>While we &#8211; Europeans &#8211; have given birth to the euro, which remains a <span style=\"color: #800080;\">dwarf<\/span> on the global scale with zero influence and no power.Let&#8217;s persist with our obsession with deficits while the world moves on without us.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; The interests only on their public debt has cost the United States more than $1 trillion in the past 12 months, and these amounts are condemned to increase due to the maintenance, for some time still, of the current level of interest rates. But it doesn&#8217;t matter: they have the King $. While we&hellip;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"_exactmetrics_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"mc4wp_mailchimp_campaign":[],"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"{title}\n\n{excerpt}\n\n{url}","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[648942607,648941264,648941311,648941653],"tags":[],"class_list":["post-26128","post","type-post","status-publish","format-standard","hentry","category-debts-reduction","category-european-union","category-globalizazion","category-ordoliberalism"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Europe, the eternal indecisive - Michel Santi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/michelsanti.fr\/en\/debts-reduction\/europe-the-eternal-indecisive\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Europe, the eternal indecisive - Michel Santi\" \/>\n<meta property=\"og:description\" content=\"&nbsp; The interests only on their public debt has cost the United States more than $1 trillion in the past 12 months, and these amounts are condemned to increase due to the maintenance, for some time still, of the current level of interest rates. 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At present, reality is catching up with the \u201cmainstream\u201d economists who with regret have recognised the absolute necessity for governments to deepen their debts in the current recession brought about by the health\u2026","rel":"","context":"In &quot;debt&quot;","block_context":{"text":"debt","link":"https:\/\/michelsanti.fr\/en\/category\/debt"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/10\/Roosevelt-e-Keynes-1.jpg?fit=600%2C400&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/10\/Roosevelt-e-Keynes-1.jpg?fit=600%2C400&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/10\/Roosevelt-e-Keynes-1.jpg?fit=600%2C400&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":24036,"url":"https:\/\/michelsanti.fr\/en\/gold-standard\/end-game","url_meta":{"origin":26128,"position":1},"title":"End game","author":"Michel Santi","date":"February 12, 2023","format":false,"excerpt":"\u00a0 The gold standard was a system where the currency of a country was linked to gold and which could materialize either by defining a certain quantity of metal in exchange for the American dollar, or indirectly through currencies having a fixed parity against the greenback. As early as 1944\u2026","rel":"","context":"In &quot;gold standard&quot;","block_context":{"text":"gold standard","link":"https:\/\/michelsanti.fr\/en\/category\/gold-standard"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2023\/02\/creation-monetaire-300x170.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":19376,"url":"https:\/\/michelsanti.fr\/en\/european-union\/the-rome-syndrome","url_meta":{"origin":26128,"position":2},"title":"The Rome syndrome","author":"Michel Santi","date":"April 11, 2019","format":false,"excerpt":"\u00a0 The Italians were, for centuries, Europe\u2019s bankers. The Medici\u2019s, for their part, lent extensively to the British and French crowns. Let us not forgetthe marriage \u2013 of convenience \u2013 between Henry IV and Marie de Medicis, who was also known as \u201cthe fat banker\u2019s daughter\u201d. What happened in the\u2026","rel":"","context":"In &quot;European Union&quot;","block_context":{"text":"European Union","link":"https:\/\/michelsanti.fr\/en\/category\/european-union"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/04\/crise-italie.jpg?fit=350%2C350&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":13736,"url":"https:\/\/michelsanti.fr\/en\/germany\/the-european-illusion","url_meta":{"origin":26128,"position":3},"title":"The European illusion","author":"Michel Santi","date":"March 15, 2017","format":false,"excerpt":"The infamous Treaty of Versailles which was imposed on Germany following the First World War forced the nation to pay the astronomical sum of 132 billion Marks. This iniquitous treaty was to provoke the Occupation of the Ruhr in 1923 by France, displeased at the delays in German payments. In\u2026","rel":"","context":"In &quot;debt&quot;","block_context":{"text":"debt","link":"https:\/\/michelsanti.fr\/en\/category\/debt"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/versailles_traite.jpg?fit=848%2C730&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/versailles_traite.jpg?fit=848%2C730&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/versailles_traite.jpg?fit=848%2C730&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/versailles_traite.jpg?fit=848%2C730&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":30556,"url":"https:\/\/michelsanti.fr\/en\/french-public-debt\/french-debt-a-matter-of-sovereignty","url_meta":{"origin":26128,"position":4},"title":"French Debt: A Matter of Sovereignty","author":"Michel Santi","date":"November 1, 2025","format":false,"excerpt":"French public debt is no longer merely a simple accounting variable. It has become the fragile heart of our economic sovereignty. Trapped in a model inherited from the 19th century, France will need to refinance itself next year to the tune of just over \u20ac300 billion\u2014a complex and risky exercise.\u2026","rel":"","context":"In &quot;french public debt&quot;","block_context":{"text":"french public debt","link":"https:\/\/michelsanti.fr\/en\/category\/french-public-debt"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/11\/Claude_Lefebvre_-_Detail_of_Portrait_of_Jean_Baptiste_Jean-Baptiste_Colbert_1619-1683_Ministe_-_MeisterDrucke-982380.jpg?fit=1020%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/11\/Claude_Lefebvre_-_Detail_of_Portrait_of_Jean_Baptiste_Jean-Baptiste_Colbert_1619-1683_Ministe_-_MeisterDrucke-982380.jpg?fit=1020%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/11\/Claude_Lefebvre_-_Detail_of_Portrait_of_Jean_Baptiste_Jean-Baptiste_Colbert_1619-1683_Ministe_-_MeisterDrucke-982380.jpg?fit=1020%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/11\/Claude_Lefebvre_-_Detail_of_Portrait_of_Jean_Baptiste_Jean-Baptiste_Colbert_1619-1683_Ministe_-_MeisterDrucke-982380.jpg?fit=1020%2C1200&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":20357,"url":"https:\/\/michelsanti.fr\/en\/inequality\/may-this-crisis-be-an-opportunity","url_meta":{"origin":26128,"position":5},"title":"May this crisis be an opportunity!","author":"Michel Santi","date":"June 15, 2020","format":false,"excerpt":"\u00a0 For the common good, but also purely and simply for the preservation of capitalism, this crisis must be got to grips with because the cause and effect relationship between the accumulation of debt and inequalities is, for me, at the source of it all. The fact is that the\u2026","rel":"","context":"In &quot;inequality&quot;","block_context":{"text":"inequality","link":"https:\/\/michelsanti.fr\/en\/category\/inequality"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/06\/transformation.jpg?fit=1200%2C796&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/06\/transformation.jpg?fit=1200%2C796&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/06\/transformation.jpg?fit=1200%2C796&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/06\/transformation.jpg?fit=1200%2C796&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/06\/transformation.jpg?fit=1200%2C796&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/26128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/comments?post=26128"}],"version-history":[{"count":3,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/26128\/revisions"}],"predecessor-version":[{"id":26135,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/26128\/revisions\/26135"}],"wp:attachment":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media?parent=26128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/categories?post=26128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/tags?post=26128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}