Euro Area

[Furunculus]

You know what is really moronic? It is the stockmarket causing all of these issues.

no, what is truly moronic is that europe created an economic structure which did not share a political commitment from the rich nations to buttress the poor nations in times of ill.

now that the ill times have arrived everyone is asking if germany is willing to show that commitment to guarantee loans that permit italy and spain to rollover its debts.

without that commitment why on earth would the markets lend more to those countries, when the threat of default is so close arising from marginal growth, continuing deficits, and enormous debts?

now that IS moronic!