The crisis of the Euro in the coinage of Shakespeare, born on this day in 1616 at Stratford-Upon-Avon:
Once, the success of the Eurozone seemed a
foregone conclusion, but today Europe is
in a pickle with more than a few suggesting it's
high time to say
good riddance to the Euro. Over the weekend, the IMF decided it was
once more into the breach, and pledged more funds, but even as Ireland reported meeting 2011 austerity targets, Spain is teetering. Unlike Greece, Spain and Ireland are both more
sinned against than sinning, the victims of unscrupulous bankers and a housing bust. Still, Angela Merkel insists on her
pound of flesh, and Sarkozy, the man she's encouraged to
screw his courage to the sticking place over austerity, has definitely
seen better days. Sark is considered too
hot-blooded for some--Socialist Hollande came in first in this weekend's runoff--but the French who consider immigration the
Devil incarnate gave right-winger Marine LePen a whopping percentage of the vote. Is there
rhyme or reason to the crisis? Economists like Krugman say of Merkel's stubborn stinginess
that way madness lies. But honestly,
it's Greek to me, except it seems that if the Eurozone implodes, with
one fell swoop any hopes for our own recovery could
vanish into thin air.
 |
Is there "method to her madness"?
Or just meanness? |
 |
| Will the French "send him packing"? |
Countries saddled with impossible austerity goals; lenders stuck with unpaid debt
. Neither a borrower nor a lender be--in Europe's case,
thereby hangs a tale. And unfortunately, we may hang with it.
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