"The European political leaders are unwilling to resist U.S. demands. All they can do is complain at their mistreatment. That has led to a split between German and other European businessmen and the European political parties. The problem is that Europe cannot withdraw from NATO without dissolving the European Union, which commits military policy to NATO and hence to an immense balance-of-payments drain to purchase high-priced U.S. arms as well as other necessities. If the question is how long Germany and Europe can put political and military loyalty to the United States over their own economic prosperity and employment, the answer by the Greens is that “shock therapy” will help make Europe greener. At first glance that is right as heavy industry is shut down. But it seems that Europe’s fuel of the future is coal and cutting down its forests."
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Academics from the United StatesNon-fiction authors from the United StatesEducators from the United StatesHistorians from the United StatesEconomists from the United States
Original Language: English
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Pressures - Questions from Al-akhbar Newspaper, Lebanon. Mohammad Itmaizeh,michael-hudson.com, (1 December 2022)
https://en.wikiquote.org/wiki/Michael_Hudson_(economist)
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Michael Hudson (economist)
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