Nigel Farage: ‘Germany is dominating Europe’

The well known eurosceptic Nigel Farage is having a field day over the sovereign debt crisis in the euro zone. Farage says that the EU lacks democratic legitimacy, a complaint heard ever more often during this crisis. He goes further, saying political puppets are being put into place right across the euro zone. He sees this as a demonstration of a "German-dominated Europe", something he believes the euro was supposed to prevent.

Video below (hat tip Bob)

My only comment in presenting this video is that this view will gain currency if German-sponsored plans for fiscal austerity in the periphery, followed by fiscal integration and penalties or exclusion are adopted going forward. And nationalism will be the central issue driving this view forward.

About 

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.