{"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,"_crdt_document":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"mc4wp_mailchimp_campaign":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","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},"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 v27.3 - 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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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":20835,"url":"https:\/\/michelsanti.fr\/en\/debt\/taking-on-debt-yes-but-what-for","url_meta":{"origin":26128,"position":1},"title":"Taking on debt, yes, but what for?","author":"Michel Santi","date":"October 11, 2020","format":false,"excerpt":"Following on from Keynes, it\u2019s been years that I\u2019ve been talking about it and outlining the mechanisms. 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":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. 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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":19459,"url":"https:\/\/michelsanti.fr\/en\/deutschemark\/back-to-the-deutschemark","url_meta":{"origin":26128,"position":4},"title":"Back to the deutschemark ?","author":"Michel Santi","date":"May 28, 2019","format":false,"excerpt":"\u00a0 Martin Feldstein, a Harvard economist, wrote premonitorily in 1997 that the euro\u2019s introduction \u201cwould exacerbate economic cycles by worsening unemployment in certain member states. Such economic woes would contribute to a crisis of confidence in the Union\u201d. In fact, those who were convinced that the Union\u2019s crisis since 2009\u2026","rel":"","context":"In &quot;deutschemark&quot;","block_context":{"text":"deutschemark","link":"https:\/\/michelsanti.fr\/category\/deutschemark"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/05\/DM-278x300.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":20304,"url":"https:\/\/michelsanti.fr\/en\/money-creation\/austerity-is-not-an-inevitability","url_meta":{"origin":26128,"position":5},"title":"Austerity is not an inevitability !","author":"Michel Santi","date":"May 18, 2020","format":false,"excerpt":"\u00a0 You are greatly mistaken if you think Europe\u2019s woes to come will be caused by a liquidity crisis. It is in fact a solvency crisis that poses an imminent threat to many members of the Union who don\u2019t really need their funding costs to decrease, but who are desperately\u2026","rel":"","context":"In &quot;Money creation&quot;","block_context":{"text":"Money creation","link":"https:\/\/michelsanti.fr\/en\/category\/money-creation"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/05\/guernica-pablo-picasso.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/05\/guernica-pablo-picasso.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/05\/guernica-pablo-picasso.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/05\/guernica-pablo-picasso.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/05\/guernica-pablo-picasso.jpg?fit=1200%2C800&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}]}}