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SamuelRSmith on 20 April 2011
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Kasz216 said:
SamuelRSmith said:
sapphi_snake said:

2. The EU should work on getting it's Constitution adopted, to keep things like this from happening.


The EU already has a constitution, and has had one since it's inception as the ECSC. All institutions have constitutions, from countries and NGOs to corporations and even soccer organizations.

What you're asking for is for the EU to be able to limit its members from having certain freedoms. The EU was set up as an economic union (a bad one, at that), it already goes far beyond its original jurisdiction, we need less EU, not more.

I wonder what will happen if Spain fails.


Spain failed a long time ago... 20% unemployment, dead construction industry, rising yields on bonds... it's basically a case of politicians putting their fingers in their ears and going "lalalala". If Spain were to "fail" tomorrow, there would be no different in its economic state from today, it's just that the politicians would have finally accepted it... which will be when the yields become intolerable (for the Spanish... the quicker Spain fails, the better, as they won't be piling on more and more debt).

What's going to happen? The same thing that always happens in the EU... when the EU fails, the politicians always argue that it's because there's not enough EU. And so the EU will try to extend its leverage over its member states, particularly the Eurozone. The problem is that, the only reason the Euro exists today is that Germany (and to a lesser extent, France) are anchoring it... but if Germany keeps bailing people it, it, too will be in greater financial ruin.

The left really have been showing their ineptitude since the 2008 collapse. Their answer to broken debts was to create more debt, now that this debt is starting to fail, they turn around and just create even more of the stuff. The debt crisis didn't end with the banks... it just moved onto the Governments, and in this process, the inflationary pressures caused by all this debt have decimated the value of money and moved the wealth from the workers back to Wall Street. It's funny how the left's approach to dealing with the debt ended up harming the people who they're supposedly supposed to be representing. Obviously not their intention... but, that just shows how bad they are with money.