"Next!" - After Greece, now Spain

[Skybird]

Originally Posted by XabbaRus

Well Germany did push for the euro...though I do sympathise why should Germany bail everyone out.

Germany, France, and two or three others pushed it, yes - or better: some elitist leaderships and lobbies did so against the wish of the wide public, and against all economic reason and against all warnings and against all lack of economic sufficient preparation. they wanted a symbolic act, and that is what they got: a symbolic act of not more substance than just theatralic symbolism.

It is a mistake the roots of which lie way back in the past.

But it also is basing upon economic and financial mismanagement since decades, taking place due to business lobbies corrupting politics as well as party-political bets for power resulting in trying to bribe voters with more financial gifts (distorting market mechanisms) than the financial netto income of states and national economies could afford. This took place completely independent from the Euro. we lived beyond our means, and when people now protest against policies to cut spendings, then they demonstrate in principal against their own children's future chances. Nice.

Not that much is left for the next generation anyway. In eating up and totally consuming what there once has been is resources and financial potentials, we already have done a magnificent job.