Quote from: johnyj on July 04, 2013, 01:42:30 PM

To be honest, I don't really understand the whole EURO thing

Because money is printed out of nothing, how could Portugal give up this right to ECB?

For a normal citizen, he might not have any choice but obey the government rules, but for a government of the country, how could they give up this biggest right of the country to someone else?

I think none of the government officials understand how money creation works

within the euro-zone it works like this:
the ezb does not give money to states/governments. it only lends to banks, mostly private banks. the banks pay 0.5% interest. the banks lend that money to states/governments for - let´s say 8 or 10 % interest and make a large profit.

why on earth would a private owned bank (most of them zombie-banks, already bankrupt) get it´s for free but entire economies/countries (with cities, streets, schools, millions of people, etc...) have to ask those banks and pay more than 10 fold the interest rate than a bank ?

banksters have taken it all. they let the people in greece or portugal suffer. banksters pay 0.5%