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© 2011 AFPDrowning in debt, EU hits moment of truth
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© 2011 AFP
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Elbuda Mexicano
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??
Antonios_M
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.
bobobolinski
@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.
TheQuestion
Place your bets ladies and gentlemen, it's going to be a rough one.
nath
And so will China
Molenir
Couldn't agree more.
DS
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.
YuriOtani
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.
YuriOtani
Soon there will no longer be a EU. History like all of the other "empires", soon they will be under the thumb of Russia.