Ah the Great continent called Europe now in Debt valley and surviving day by day on crisis mode. What happened to this great continent where some of the world richest nations are? It is not hard to see that some nations were more equal than others and the massive welfare state that was being sustained was just a smoke screen for accumulating debt after debt and masking the true nature of debt which still is not known. Then the great idea came to integrate the currencies of European nations into one eliminating the old currencies and in effect the fiscal sovereignty of several nations without having a plan to deal with bankruptcy or worse exit of any nation in the European Union.
It is a real tragedy and I can say arrogance on the part of the European Union to assume that every nation will be equal in the union without taking into account the different histories, languages, cultures, animosities and financial realities that goes with it. Even if all Europeans think that they are alike based on their shared religion, this economic crisis has exposed the truth that ethnicity plays in people lives every day (for a comparison see the Arab nation divided into 22 countries based on one religion). The Greek government’s financials are in shambles and every few months they have to cut some of their budget in order to qualify for a few billion dollars while the Germans and other rich nations accuse them of deceit and laziness.