The causes of this shambles are incredibly simple:
A) Politicians are in general feckless scum. They are presumably (mostly) fairly intelligent, so they should KNOW that you can’t forever borrow more than you can be SURE to be able to repay. In the old days this was known as “living within your means”, but this is a concept very much out of fashion, especially since Brown was given the keys to our money.
DESPITE THIS, to curry favour with their troops and ensure their reelection and thus access to the goodies that go with it, they CONSTANTLY overborrow and pretend it doesn’t matter. There is also an element of cowardice here, since they cannot bring themselves to say: “No, we can’t afford that.” Of course, as far as the PIIGS are concerned, they couldn’t EVEN bring themselves to say: “No, GERMANY can’t afford that.”
This over-borrowing cannot go on for ever, but in the Brown-Zapatero-Burlesqueonly era (not to be confused with the Dinosaur era, even if it felt a bit like it) the feckless, self-deluded and lying scum masquerading as “leaders” went totally OTT, thus leaving their countries in massive debt.
B) Many of the plebs (though not including those who said this would all end in tears and for their pains were often labelled by the unintelligentsia as “idiots”), connived in this delusional bingeing and gobbled up in their greed whatever apparent German-financed freebies that were on offer, such as retiring at 45, passing on your pensions to relatives when you died, having a so-called job for life, working 3 hours a day and so on (see Greece).
C) ERGO, as follows from the above, this crisis is NOT the fault of the following usual and convenient scapegoats, who have NOTHING TO DO WITH IT:
the ratings agencies
not borrowing enough (this is Hollande’s current suspect, which I think you have to admit is quite funny in the circumstances – his remedy is like giving a drunk a full whiskey bottle.)
Nope – much as the usual suspects would like to blame any of the above except the political scum that have landed us in this mess, it won’t wash. The crisis is caused by MASSIVE indebtedness thanks UNIQUELY to those who had the power to borrow insane amounts to provide “their” people with “benefits” and sod the cost today since “Someone else will pay tomorrow (proably the Germans).”
Whether one blames the plebs who keep on electing idiots to govern them is a moot point. After all, once you start blaming the plebs for things then the leaders are let off the hook, which is of course where they belong.
Brown, Zapatero, Berlusconi and the sordid bunch of misfits running Greece for decades (and now releected HA HA) left their countries in tatters. But as is so often the case, instead of the real guilty being slung in jail to rot they are all free to enjoy their vast pensions while – for example – the plebs of Greece (not entirely innocent it must be said) cannot get medical treatment.
Please stop blaming anyone but the politicians; it really is a bit silly.
PS It is true that the EU elite are equally lying and quasi-fascist scum, but it is the NATIONAL LEADERS who have allowed them to get away with their particular brand of insanity. Had the national leaders any balls, they would have said “NO” to the vast salaries (TWICE those of national leaders for the EU elite) and perks, to Dame Ashton’s SIX BILLION QUID Diplomatic Service, to Van Rompo’s THREE HUNDRED MILLION EURO palace in Brussels – but they DIDN’T, and they STILL DON’T. While Europe is in financial meltdown the EU wants even MORE money from us to “invest” – no doubt in Spanish airports. Did you clock that Spain has TWICE AS MANY AIRPORTS AS GERMANY? Brilliant.
But will Merkel et al say “NO” to the EU? I doubt it. Any “NO” to the EU provokes an accusation of being “un European” (Britain’s usual role)
Potty. And it’s not over yet. In fact, it is going to get worse.