[allmost]

The Euro was sketchy to begin with.

[Army Air Corps]

Ping.

[jongaltsr]

“Artificial” monetary systems developed to satisfy a wildly diverse and isolated cultures never work. Of course you can’t tell that to a European Liberal.

Economic stability is necessary and when you have independent and scattered political systems you can not expect all members to sacrifice voluntarily when their economy is doing well and another is in deep or even moderate problems.

When one country has problem they can pull together because their government has to do what THEIR people need but it does not feel the same way when someone else in another political system has problems.

It goes something like this - If I help you can you guarantee that you will pay us back when you get your act together and can we expect you to help us when “We” have a problem in the future.

[Army Air Corps]

"The worry is that there is a wave of austerity building throughout Europe and even hitting America's shores," Mr Stiglitz said. "As so many countries cut back on spending prematurely, global aggregate demand will be lowered and growth will slow – even perhaps leading to a double-dip recession.

State spending to boost aggregate demand. Where have I heard that before? Ah, Keynes and Obummer...

[period end of story]

Joseph Stiglitz: who cares?

[Future Useless Eater]

This dip$hit thinks that reduced spending of taxpayer dollars is a BAD thing!!

What an A-hole!

[Zakeet]

If it's any consolation, the dollar won't survive either ... at least not as we know it today.

[WellyP]

Is China’s buying Greek debt to drive up the value of the Euro before selling it and crashing the Euro? Sounds like an old Soros trick!