How to make going broke sound more palatable for themselves, and fool the easily fooled.
A European Union Official Wants to Ban the Word ‘Bankruptcy’ and Instead Use a More Politically Correct Term
A European Union draft plan would banish use of the word “bankruptcy” and in its place replace the term with the more palatable phrase “debt adjustment,” British media are reporting.
The European Union’s Directorate-General for Internal Policies Riccardo Ribera d’Alcala who authored the plan wrote, “The use of stigmatizing labels should be ended, and the pejorative term ‘bankruptcy’ should be replaced with the more neutral ‘debt adjustment.’”
Britain’s Daily Mail, which referred to European officials as “language police,” wroteof the language-engineering idea, “Italian Mr d’Alcala believes the word carries such a potent stigma that individuals who have suffered it struggle to persuade banks to lend them money to fund new ventures. If the terminology is changed, he thinks, creditors are more likely to be forthcoming.”
The Mail further explained that the idea is one part of a wider plan to coordinate financial policy across the EU “including making it less troublesome to open bank accounts in different countries and easier to escape from debt and be ‘given a second chance’.”
Conservative Member of the UK Parliament Brooks Newmark called the idea “another flawed, madcap scheme by Brussels.”
“This shows just how intellectually bankrupt – sorry, debt adjusted – the European Union has become,” Newmark told the Daily Mail.
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