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Showing posts from November 12, 2010

Here we go again, European Union in trouble.

Last time Europe and the European Union (EU) were in the spotlight revolved around Greece's spiraling inability to service it's debt.  I remember thinking back when the question of what to do with Greece that Europe only had one real option.  You see, Greece as it turns out not only lied about their accounting practices thereby making their entire entry into the EU questionable - but their finances really exposed a socialist government on the brink of a financial disaster.  But what really made the choice obvious, was precedent.  That is to say, if the collective European governments decide to burden the cost of Greece then any additional country falling in the same predicament would demand identical treatment.  Germany and other powerful economic of Europe had to tell Greece to leave the EU, go back to their currency and then take care of their debts and responsibility - declare bankruptcy if need be.  Why take American and European taxpayer money and cover up structure imba