Europe will lead the world into this Economic Totalitarianism because government is now desperate to retain the Euro. If the Euro collapses, so will Brussels. The government exists solely because of the Euro.

The fatal design of the Euro is the key. The failure to have consolidated the debts of all individual member states has been the worst possible mistake perhaps ever made in this post-Great Depression era of New Economics where government lawyers assume they can just write a law and that will be followed as some new modern dictator.

Because of the failure to consolidate the debts, the reserve of the banks had to then be politically correct to conform with Brussels holding a piece of all member state debts. That meant that the defaulting in part or in whole of individual sovereign debts of member states undermined the banking system. This would be as if in the USA bank reserves were made up of state debts. If one state failed, everyone would scramble to sell the banks who had the most.

Since Brussels will not reform, as Einstein put it correctly that you cannot solve a problem with the same line of thinking. This whole idea of negative interest rates is just following the same Keynesian concept that lowering rates will stimulate demand. The missing element is confidence. If you do not believe you will make even 1%, you will not pay 0%. While they keep lowering rates to stimulate borrowers, they are wiping out the elderly who now cannot live from their savings reducing their spending destroying the entire idea of pensions and retirement (the social contract). The lack of confidence prevents new businesses from forming and therein results in the lost generation of youth who cannot find a job. The elderly are forced to work so there becomes a shortage of jobs resulting in higher unemployment among the youth.

Add to that trend wiping out the elderly and the youth, we then have the rising tensions against foreigners everywhere because they see them as taking precious jobs as they migrate to their country. It becomes a vicious cycle that cannot be broken with the same line of thinking.