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German Euro-Deputy: S&P Downgrade Part of American ‘War Against the Euro’

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Weekly Standard
January 18, 2012

One of the European parliament’s most influential members, the German Christian Democrat Elmar Brok, has declared that Standard & Poor’s decision to downgrade the credit ratings of nine eurozone member states is part of a “currency war” being waged by the United States against the euro and Europe itself.

In an interview with the Germany daily Die Welt, Brok said that “the downgrade is a targeted attack on Europe by the American rating agency.” Insisting that there were no “plausible grounds” for the downgrades, Brok continued, “Consequently, the S&P downgrade is a matter of interests. They have declared a currency war on us.”

Asked whether he meant that the United States is “waging financial war“ on Europe, Brok specified, “Certain forces in the USA, in particular in the world of finance. It is evident that their one and only aim is in this way to promote Anglo-Saxon interests at Europe’s cost.” “They want to shatter the eurozone, in order to make money,” he added.

A member of the European Parliament since 1980, Brok is presently the foreign affairs spokesperson of the parliamentary group of the European People’s Party (EPP). The EPP, which includes the German Christian Democrats, has the largest group of deputies in the parliament. Brok was previously, from 1999 to 2007, chair of the parliament’s foreign affairs committee. According to EUobserver, he is expected to reclaim the latter post when committee chairs are reshuffled next week. The editors of Die Welt emphasize that he “is known as an excellent connoisseur of the USA.”

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This article was posted: Wednesday, January 18, 2012 at 3:52 am

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