134
Europe has run out of money according to the French finance minister and might need to start using people's savings
(twitter.com)
The brokest hoes be the loudest 
this post was submitted on 25 Feb 2024
134 points (100.0% liked)
news
23532 readers
645 users here now
Welcome to c/news! Please read the Hexbear Code of Conduct and remember... we're all comrades here.
Rules:
-- PLEASE KEEP POST TITLES INFORMATIVE --
-- Overly editorialized titles, particularly if they link to opinion pieces, may get your post removed. --
-- All posts must include a link to their source. Screenshots are fine IF you include the link in the post body. --
-- If you are citing a twitter post as news please include not just the twitter.com in your links but also nitter.net (or another Nitter instance). There is also a Firefox extension that can redirect Twitter links to a Nitter instance: https://addons.mozilla.org/en-US/firefox/addon/libredirect/ or archive them as you would any other reactionary source using e.g. https://archive.today . Twitter screenshots still need to be sourced or they will be removed --
-- Mass tagging comm moderators across multiple posts like a broken markov chain bot will result in a comm ban--
-- Repeated consecutive posting of reactionary sources, fake news, misleading / outdated news, false alarms over ghoul deaths, and/or shitposts will result in a comm ban.--
-- Neglecting to use content warnings or NSFW when dealing with disturbing content will be removed until in compliance. Users who are consecutively reported due to failing to use content warnings or NSFW tags when commenting on or posting disturbing content will result in the user being banned. --
-- Using April 1st as an excuse to post fake headlines, like the resurrection of Kissinger while he is still fortunately dead, will result in the poster being thrown in the gamer gulag and be sentenced to play and beat trashy mobile games like 'Raid: Shadow Legends' in order to be rehabilitated back into general society. --
founded 4 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Correct me if I'm wrong, but in this instance, it sounds like the system is collapsing really hard on itself???
It sounds like what he wants to do is create an investment product for people with savings. So instead of having it on your bank account you give it to the EU / member government to invest. The idea is then that it is wisely invested and thus creates profit that can be payed back as interest. So not that radical. The fact that they resort to this of course is another indication that the sanctions are backfiring immensely, but to me it doesn’t sound like the apocalypse.
Edit: although the fact that he keeps rambling on about AI makes me think a lot of Western European upper middle class families will loose some of their savings after the money disappears in some kind of AI Blockchain scheme. Or more realistically they get their savings + interest but governments need to cut healthcare spending to cover it.
Yeah, it is. The thing is 35000 billion euros is a lot of money and can absolutely improve Europe's manufacturing capabilities, and fund social programs for people. The problem is he's talking about going into "European's savings" which I have no idea what he means. I'm under the assumption that they'll start taxing savings, bc just taking people's cash is too extreme.