[RayChuang88]

In the end, Europe will have to "face the music" and implement these reforms:

1. Social services will have to be pruned back and/or heavily privatized.
2. Taxation needs to be drastically simplified, probably with a 14-16% no-loophole flat-rate income tax and a continent-wide 4-5% VAT.
3. Business regulations on the European level will have to be simplified and standardized to cut down on compliance costs.

This is the only way that Europe will veer away from an economic debacle with huge worldwide consequences.

[mas cerveza por favor]

Even more important:

1. Stop bailing out the banks.

2. Create their own money instead of borrowing privately created money at interest.

[The Old Commander]

Are you speaking about Europe or the USA?