BS. The people in these nations are electing their own governments. It is their own fault their governments are going broke and their banks are failing. The bankers are just a symptom of the problem, the seedy enablers of massive, unaffordable social welfare states.
These countries could leave the Eurozone if they wanted, but they don't. Greece, for example, could simply default and go it's own way - but it won't because the majority of the people STILL want to hang on to their massive public sector and welfare state.
We are headed in the same direction right here in the US, and it won't be the fault of some "European Empire" conspiracy.
To be somewhat fair, I’m sure there are many decent people there who didn’t vote for Socialists.
Same as here. Do we all deserve shit because 53% of our citizens are stupid or lazy?
The European Commission’s top economists warned the politicians in the 1990s that the euro might not survive a crisis, at least in its current form. There is no EU treasury or debt union to back it up. The one-size-fits-all regime of interest rates caters badly to the different needs of Club Med and the German bloc.There are too many countries affected by this to claim they “did it to themselves” at this point.
The euro fathers did not dispute this. But they saw EMU as an instrument to force the pace of political union. They welcomed the idea of a “beneficial crisis”. As ex-Commission chief Romano Prodi remarked, it would allow Brussels to break taboos and accelerate the move to a full-fledged EU economic government. …
These countries joined the euro thinking they could all spend like madmen and the “others” would pay for it. The problem is that all of them thought the same way and there are no “others”.