A) Germany (to get it to abandon the Deutschmark) was faithfully promised it would never have to bail out the feckless.
B) Greece LIED about its statistics and did NOT fulfil the criteria to enter the eurozone.
C) EVERYONE knew this, but the EU elite let them in anyway for political reasons – to make the eurozone (and themselves) as big and “powerful” as possible.
D) Bailouts are – as far as I understand – ILLEGAL both under the German Constitution AND the Lisbon Treaty, which – of course – NO CITIZEN has been able to vote on except in Ireland, where the “NO” vote had to be redone until it became “YES”.
E) Everybody KNOWS what the Greeks have done since their entry to the eurozone, putting “Spanish practices” far into the shade, yet German and French banks have recklessly poured vast loans into the country (FIFTY-SIX BILLION for France) while the EU DID ABSOLUTELY NOTHING to impose any kind of financial discipline, which should of course have included booting Greece out of the euro. Actually, the EU’S OWN ECONOMISTS told them that Greece would NOT be able to live within the euro BEFORE THE EURO WAS LAUNCHED.
F) The bailouts are (or rather SEEM) good news for 1) German and French banks and 2) the EU elite, whose face must be saved at all costs, but the financial crisis and these bailouts come at a HORRENDOUS PRICE for ordinary Europeans, who are INNOCENT but suffering while the EU elite walk away with their untouchable vast salaries and benefits every month.
My conclusions? The EU elite and many national leaders are incompetent and especially LYING scum who have TOTALLY BETRAYED the citizens of Europe by irresponsibly playing about with our money for their own political purposes.
Rather than resign en masse in shame they have pranced off on their hols at vast expense to us smugly congratulating themselves on having cobbled up a so-called solution to the Greece (et el) debt crisis. The DETAILS of this deal, stitched-up by the arrogant Merkel and Sarkozy (the only EU countries that actually count of course) have not even been revealed.
If there were any justice in the world, those responsible for this shambles would be locked up for fraud.