Drowning in debt, EU hits moment of truth

No idea the Europeans have screwed themselves up so badly, but I guess if the old continent can make the leaning Tower of Pisa, the London Bridge etc..they can also get themselves out of this mess, sooner or later, but some countries like Greece?? Do they really belong in the EU??

Soon there will no longer be a EU. History like all of the other "empires", soon they will be under the thumb of Russia.

Place your bets ladies and gentlemen, it's going to be a rough one.

but some countries like Greece?? Do they really belong in the EU??

Yes, they do. EU and the Eurozone are two totally different things. UK, which you refer to with the example of the London bridge is NOT part of the Eurozone.

disintegration

And so will China

People who call for yet more government intervention are forgetting two very basic concepts:

a/ every dollar/Euro spent by the government comes out of somebody's pocket. Governments do not create wealth.

b/ every dollar/Euro borrowed by the government comes out of somebody's child's pocket. Borrowing money is stealing from your children to pay for your own stupidity.

Government and government workers need to realize this and treat the money they are responsible for with much greater respect.

Government and government workers need to realize this and treat the money they are responsible for with much greater respect.

Couldn't agree more.

If the EU goes and I think it will go something has to fill the vacuum. Russia has the willpower and resources to if not take over influence them. The fictitious "Eurasia" state from 1984 may become true.

@DS you are absolutely right there. Every dollar/euro that goes to supporting investment banks and financial institutions that completely ignored common sense comes out of the pockets of the rest of us. And every dollar/euro that goes into misguided and pointless military adventures comes from us. Time to put a stop to all of that, I would agree.