This is the concern of the IMF and several other economic global agencies. (See report in Guardian by Larry Elliott). This is the problem not just plaguing, but destroying Europe and hence endangering the global economy.
As we all wait to hear whether the PSI deal for reducing Greek debt in an orderly manner will go through or not, is it really too much to ask for ‘leaders’ to forget their egos, to accept they have made one big botch up of the so called debt crisis in Europe and to reconsider their ill fated policies?
With so much vain hope pinned on this wretched PSI which as likely as not will not fix anything anyway, since it is based on false premises, and the rising tide of youth unemployment across Europe, problems will take on a momentum of their own and solutions will be arrived at in a very different, perhaps even violent way.
Our European leaders really should remember our Roman ancestors. As the victors rode into Rome in absolute triumph, there was a lowly slave beside them charged with whispering in their ear,
“Remember, thou art human.”
Yes, Frau Merkel, I’m sorry. But that does go for you too.