Nigel Farage on the Failings of the EU Summit and an Antidemocratic Europe
Welcome to Capital Account. European Leaders are holding the umpteenth EU summit to try and save the monetary union and the eurozone. This meeting has been deemed by some in the media as crucial, but is it really? Not a chance, according to our guest Nigel Farage, leader of the United Kingdom Independence Party (UKIP) and member of European Parliament. It’s more of the same “can kicking.”
And while fingers point at Germany to save Europe, the core isn’t immune to the problems of the eurozone. New figures show that the number of people out of work is creeping up in Germany; up by seven thousand in June. And a poll shows support for the Euro may be fracturing in the core, the very part of Europe that is holding the entire continent together. Will Angela Merkel eventually buckle to the will of her electorate, or will she do the bidding of her "European partners?" We’ll look at how this impacts the EU summit, and recent attempts to quell this European crisis.
And the Supreme Court has upheld the healthcare law, otherwise known as Obamacare, advocated for by the current administration. The US president says this was a victory for the American people. But what is the market telling us? Lauren and Demetri will give you their take on today’s “Loose Change.”