“The euro area faces a very challenging situation that comes mostly from the interconnection of the sovereign debt crisis and the situation of the banking sector,” the ECB said.
“comes mostly”???????? NO, it doesn’t. It comes mostly from the CRASS ARROGANCE, INCOMPETENCE AND LIES OF THE EU ELITE, who wanted Greece in the euro at ANY COST (which is of course OURS, and not THEIRS), and so disregarded the advice of their OWN economists who said that Greece couldn’t live in the euro with Germany. Apart from that, EVERYONE KNEW that Greece LIED about its finances in order to get into the euro. WHAT DO YOU EXPECT FROM A POLICY ALL BUILT ON ARROGANCE AND LIES?
Once Greece was in, it spent OUR money with gay abandon and greedy German, French and other banks were slavering at the bit to provide irresponsible loans.
EVEN NOW, nobody is admitting this, but blaming “the interconnection of the sovereign debt crisis and the situation of the banking sector”.
The EU establishment, many bankers and most country leaders are lying scum who cannot live within OUR means. but WE will pay the price.