EU bailouts illegal – economist
6 Jul, 2011 19:28
With a German federal constitutional court now examining the legality of EU bailouts in a lawsuit filed by a group of concerned citizens, economist and author Michael Mross declared that the bailouts’ illegality is self-evident.
“You do not have to be the chairman of a constitutional court to find out that it is completely illegal because it is obstructing the Maastricht Treaty, it is against the Lisbon Treaty, it is against everything,” Mross told RT. “We have a no-bailout clause in Europe, and everybody is breaking it.”According to Mross, Germans will feel the real impact of the EU bailouts within the year.“Most Germans are not regarding this as a very big problem, of course, because the economy is booming here in Germany and unemployment is at a 30-year low, so this is not in the spotlight right now,” he said. “But it will be in the spotlight next year, when economic experts already forecast a downturn in the economy – and then we will see what is going on.”