It's Europe's crisis

NY Post ^ | December 20, 2010 | John Bolton

[Scanian]

The recent riots in Athens, London and Rome signal rising insecurity and uncer tainty within the European Union. The most profound and widespread challenge is the growing sense that the EU's common currency, the euro, may not survive in its present form, if at all.

The obvious reason is that, as a matter of economics, the euro project gives surrealism a bad name: A currency without a government was always doomed to fail. Now, there are only two choices: 1) Abandon or dramatically shrink the euro concept, or 2) increase the powers of the European Commission to oversee -- and where necessary de termine -- national tax and spending decisions.

A cynic would say that this crisis was pre-planned -- anticipated years ago as a convenient trigger to create the ever-more-centralized EU government that its advocates could never have achieved openly.

Certainly, the euro has always been primarily a political project, rather than an economic one -- a rationale that justifies US indifference to its fate.

If the Europeans want it, that's up to them. They're perfectly entitled to try to create an alternative to the US dollar as the world's reserve currency and to be another Western "pole" in world affairs. But we are equally free to let it fail.

[Scanian]

"America should resist the temptation to save the EU from itself. We must avoid propping it up directly through loans or financial assistance or indirectly through the International Monetary Fund."

Let the new Congress lift one finger to save the EU---or start bailing out states like California---the formation of a third party will be an absolute certainty.

Enough already!

[ViLaLuz]

There should already be a third party, one representing Americans rather than elite global corporatists.

[Jimmy Valentine]

You are right on this. The Euro is a fictional construct of the Euro Socialists. One good thing about its eventual collapse is that people will move their money to a more stable currency like the Swiss Franc................or the good old Dollar.

[The Comedian]

Euro-weenie-roast ping.

"Economic Holocaust" ping.

Increasing volume ping list watching the slow motion Economic Holocaust.

FReepmail me if you want on or off
The Comedian's "Economic Holocaust" ping list...

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[blam]

"There should already be a third party, one representing Americans rather than elite global corporatists."

Down with the Robber Barons?

[April Lexington]

Wow! looks like “make believe” is about to fail...