The markets have never – within living memory – been “free”. There are multiple regulations. The problem is that the regulations are INAPPROPRIATE, and have not kept pace with globalisation. OH, and GOVERNMENTS SET THE RULES! So if you want to blame the markets, first blame the governments that have TOTAL COLLECTIVE POWER to regulate them.
However, even while blaming “globalisation” and “capitalism”, do not forget that the problems in Europe are caused by GOVERNMENTS OVERBORROWING. They CANNOT live within OUR means. It is truly PATHETIC and CRIMINALLY RECKLESS.
And the most NAUSEATING ASPECT, NONE of the elite politicians are going to suffer, their salaries and benefits being assured. Well, Merkel may suffer if she agrees to bail out the whole of the rest of Europe. She will be excoriated by the German people, and RiGHTLY SO, since they have been BETRAYED through LIES.
A) They were PROMISED on eurolaunch that this would not happen.
B) Greece entered the euro ON A LIE.
C) The bailouts are ILLEGAL according to both the German Constitution AND the Lisbon Treaty, which of course nobody was allowed to vote on.
The whole shambles is an ABSOLUTE DISGRACE for the political elite. One waits in VAIN for some sort of apology, but all we get is blame of the usual suspects.
HILARIOUS!! The Italians have a police investigation into Standard & Poor’s! Talk about shooting the messenger. These people are like sulky, surly, rather nasty and arrogant children.
PS Ratings agencies? So fed up are the EU elite with someone posting the truth about them that they are going to set up an EU “ratings agency” to tell THEIR version of the truth. So, ANOTHER vast and totally unnecessary expense for the European taxpayer. YET ANOTHER EU bureaucracy costing TENS OF MILLIONS OF EUROS.
Truly these people are shameless and TOTALLY OUT OF TOUCH.