[TigerLikesRooster]

P!

[Travis McGee]

Together or apart, I don't see smooth sailing ahead for Europe.

Thus ends the European socialist experiment.

[silverleaf]

the PIIGS are addicted to being supported by EU (german) bankers

as long as there is slim hope from these endless daily “meetings” that their govt ministries and banks will continue to get their EU welfare checks, they will not bolt - unless Geithner makes them think the US and/or China will replace their EU sugar daddies

[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.

[mewzilla]

Meanwhile.....

Greek civil servants walk off jobs

More of what the ruling class demands American taxpayers keep enabling....