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Democracy is essentially anti-authoritarian--that is, it not only demands the right but imposes the responsibility of thinking for ourselves.

John Dryden (1631-1700) English poet, literary critic, etc.

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European Debt Crisis

4 months 5 hours ago - 4 months 5 hours ago #1 by Editor
European Debt Crisis was created by Editor
European Debt Crisis Explained

The European Union failed to consolidate debt when creating its European utopia. Policymakers are solely to blame for creating their debt crisis, and it is hard to believe that no one saw this coming. The creation of the euro and European Union was so poorly planned that it is another example of comedy writing itself. - - -  The borrowing costs of more vulnerable countries such as Italy and Spain cannot be contained.

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3 months 3 weeks ago #2 by Editor
Replied by Editor on topic European Debt Crisis
The inevitable European debt crisis

The European Central Bank has announced that it plans to create a new tool to tackle the risk of eurozone fragmentation, which is the new term for divergence among member states. They are adopting this tactic out of fears of a new European debt crisis that is inevitable.

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The ECB claimed that its commitment to the euro is its anti-fragmentation policy. They have said that this commitment “has no limits.” Previously, Southern EU states faced materially higher borrowing costs in the wake of the sovereign debt crisis back in 2011. This is a complete disaster for the failure to have consolidated the debt meant that their idea of one monetary policy for 19 different fiscal positions cannot possibly work.

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