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PRESS RELEASE


Zepp-LaRouche Takes On EC Dictatorship

Nov. 16, 2009 (EIRNS)—At a conference on "Falling Walls," organized in Berlin on Nov. 9 by the Einstein Institute, German Chancellor Angela Merkel frankly admitted that the main issue today, is whether "nation-states are ready and able to give up competences to multilateral organizations, whatever the price." She then went on to endorse globalized institutions like the European Union (EU), as allegedly the only way for nations to remain players, as the "cards are mixed anew" on a global scale.

Her position was blasted by Helga Zepp-LaRouche, who pointed out that, even before the Lisbon Treaty goes into effect on Dec. 1, the EU has been an institution controlled by the private banks, as was recently documented in a study put out by the Alter-EU NGO, titled "A captive Commission: the role of the financial industry in shaping EU regulation." The study shows that the Commission (the executive body which runs the EU) "formulated its financial policy almost exclusively on the basis of advice from the financial industry and the very people who were unable to predict the crisis." The study shows that 19 expert groups for financial policy are dominated by representatives of the financial sector. They make proposals for the regulation of banks, hedge funds, and tax havens, on rating agencies, and accounting systems. They far outnumber even the EU civil servants advising the Commission. And they outnumber by four to one representatives from academia, consumer grouops or trade unions.

That explains, the study states, why the Commission allowed the banks to assess themselves the level of risk of their investments, why it only approved a minimal tightening of the rules on hedge fund regulation, and why it refused to regulate the credit rating agencies.

Moreover, Zepp-LaRouche points out, in health care, the EU Commission is now encouraging the British QALY (Quality Adjusted Life Years) model (see below). Under the Lisbon Treaty, "all areas of political and economic life will be subjected to the rules of globalization, free trade and a maximum of profits for the banks and cartels." However, "it is to be expected that the population will not accept the straitjacket of the EU dictatorship in the long run. And for a policy that goes so fundamentally against the interests of the member-countries and of so many categories of the population [doctors, farmers, autoworkers], are we supposed to soon begin paying direct taxes to Brussels? No thanks!"

Fear of a popular backlash was openly expressed by Eric Le Boucher, chief editor of the French financial daily Les Echos, "who warned that if bankers are not reined in, the hour of the 'radical' proponents of the Glass-Steagall standard would soon emerge, and then named Paul Volcker as an example," Zepp-LaRouche stated, adding that banks should immediately be put through bankruptcy reorganization, with the help of a new Glass-Steagall standard, and the real economy relaunched.

And now, a Treaty is to come into force that will take away almost every vestige of national sovereignty in the EU. Czech President Vaclav Klaus was the only head of state honest enough to recognize that openly, according to Zepp-LaRouche, who also cited former President of Latvia, Vaira Vike Freiberga, who declared her candidacy for EU president. On Nov. 12, she appropriately attacked the EU for operating in "darkness and behind closed doors," and said the "EU should stop working like the former Soviet Union."