America, WAKE UP to the reality of what happens when individuals/nations live beyond their means and encounter the day of (financial) reckoning!
(the day of SPIRITUAL reckoning is an altogether more SERIOUS matter.)
Absolutely correct. Three generations of deficit spending to maintain a faux lifestyle not only ends this way but has squandered the capital that makes the production of wealth and prosperity possible. All of southern Europe and even France will suffer prolonged misery. Germany will not subsidize them forever and will eventually pivot to the land and resource richness of Russia.